Flutterwave & Jumia: Red-flagging African tech startups in global market - ITREALMS

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The latest report of insider trading and other allegations of operational scandals at Flutterwave echoes similar unethical deals that haunted Jumia shortly after its listing at the New York Stock Exchange in 2019.

Flutterwave, founded in 2016 by Nigerians was registered in the United States (headquartered in San Francisco). Going by its roaring success a few years after it opened shop, raising $170 million from a group of international investors to expand its customer base, which pushed its valuation up to more than $1 billion, it has been fittingly described as Africa’s unicorn.

Delivery Science, Gidi, Flutterwave, Paystack join Google launchpad

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Four Nigerian disruptive social innovations, Delivery Science, Gidi Mobile Limited, Flutterwave and Paystack, have been named among the fourth class of Launchpad Accelerator featuring by Google, reports ITRealms.

For the Nigeria region, Delivery Science - Mobile forms to help large organizations get field data; Gidi Mobile Limited - gidimo is a mobile learning platform that uses mastery learning & social gamification to deliver personal advancement, in a fun way, and at unprecedented scale.

Also, Flutterwave - is building technology and infrastructure for digital commerce across Africa starting with Rave, an app that helps merchants accept mobile money, cards and bank account payments across 4 African countries. And Paystack - we help businesses in Africa accept payments from their customers.

The Global Lead, Launchpad Program and Accelerator, Roy Glasberg, disclosed this to ITRealms, saying that they were selected from inspiring group of startups from all over the world for the 4th class of Launchpad Accelerator.

This time around, he said, startups from Asia and Latin America will be joined by peers from Africa and Europe.

In addition, he said, in order to expand the reach, they are also expanding the curriculum.

“We’ll help the startups dig deeper into machine learning and AI, to help them leverage Google’s latest technologies to scale their apps,” Glasberg said.

ITRealms gathered that Launchpad Accelerator includes intensive mentoring from 20+ Google teams, and expert mentors from top technology companies and venture capitals (VCs) in Silicon Valley.

Participants receive equity-free support, credits for Google products, and continue to work closely with Google back in their home country during the 6-month programme.

ITRealms further gathered that the Class 4 kicks off July 17th, 2017 at the Google Developers Launchpad Space in San Francisco, include 2 weeks of all-expense-paid training.

Nonye Dom/GEE

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