Africa Roundup: Terragon’s Asia acquisition, Twiga Foods’ $10M raise, SimbaPay’s China payment service

TechCrunch | 12/9/2018 | Staff
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Jake Bright is a writer and author in New York City. He is co-author of The Next Africa.

Nigerian consumer data analytics firm Terragon Group acquired Asian mobile marketing company Bizense in a cash and stock deal. The price of the acquisition was not disclosed.

Singapore - Operations - India - Indonesia - Bizense

Based in Singapore, with operations in India and Indonesia, Bizense specializes in “mobile ad platform[s] for Telco’s, large publishers, and [e-commerce] ad networks.”

Headquartered in Lagos, Terragon’s software services give its clients — primarily telecommunications and financial services companies — data on Africa’s growing consumer markets.

Problems - Clients - Africa - Places - South

“Most of the problems we seek to solve for our clients in Africa also exist in places like South East Asia and Latin America,” Umeh told TechCrunch of the logic for the acquisition.

Umeh indicated the company is contemplating further expansion in Asia and the Latin America, where Terragon already has consumer data research and development teams.

Tarragon - Team - Employees - Nigeria - Kenya

Tarragon has a team of 100 employees across Nigeria, Kenya, Ghana and South Africa. Clients include local firms, such as Honeywell, and global names including Unilever, DHL and international agribusiness firm Olam.

Terragon’s acquisition in Singapore, and moves by several other Nigerian ventures this year, signal greater global possibilities for Sub-Saharan African startups.

Technology - Companies - Mines - Paga - Intent

African financial technology companies like Mines and Paga announced their intent to expand in and outside Africa. They would join e-commerce site MallforAfrica, which went global in July in a partnership with DHL.

Kenya’s Twiga Foods has raised $10 million and announced it will add processed food and fast-moving consumer goods to its product line-up.

IFC - TLcom - Capital - Investment - Form

The $10 million IFC and TLcom Capital co-led investment comes in the form of convertible notes, available later as equity, according to Wale Ayeni, regional head of IFC’s Africa VC practice.

Twiga Foods has built a B2B platform to improve the supply chain from farmers to markets. The startup now aims to scale additional merchandise...
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