This Week in Startup News: Tizeti and Paga raise funding, Amazon hits $1 trillion

Tizeti raises $3million Series A round of funding to expand operations to Ghana

A year after securing a seed funding of $2.1 million from international investors including Western Technology InvestmentSocial CapitalVy CapitalPicus CapitalAce and CompanyLynett Capital PartnersZeno Ventures and a number of angel investors, Tizeti  has raised $3million Series A round led by 4DX Ventures, and joined by other existing investors.

Tizeti currently boasts of 150,000 users in Nigeria with over 7,000 public WiFi hotspots spread across Lagos and other parts of the country. This new round of funding will enable Tizeti expand its operations to Ghana with a new service, Wifi.Africa.

Amazon hits $1 trillion in market value following Apple

Amazon becomes the second American company to hit a market value of $1 trillion dollars after Apple achieved the feat just a month ago. Since its launch in 1994, Amazon has introduced new and exciting ways of providing services with products such as Amazon Kindle for reading, Amazon Web Services for powering the internet, Amazon Prime for getting deliveries done, Alexa for smart home control, and Amazon Prime Video for internet video on demand service. Microsoft or Alphabet will likely be the third American company to hit $1 trillion.

Microsoft or Alphabet will likely be the next the achieve this feat

Updated: 07/09/2018

Paga raises $10 million Series B funding to expand payment solutions to Ethiopia, Mexico, and the Philippines

Nigerian digital payments startup Paga has raised $10 million in Series B funding led by Global Innovation Fund to enable expansion of its operations to Ethiopia, Mexico, and the Philippines. The newly acquired capital will see Paga compete with regional and global payment players, such as Paypal, Alipay, and Kenya’s M-Pesa.

Paga, which was founded 9 years ago by Tayo Oviosu and Jay Alabraba, has created a digital payment system that enables people to transfer money, and make digital payments through their mobile phones. Paga works on iOS, Android, and USSD and has served over 9 million customers in Nigeria with 57 million transactions processed worth $3.6 billion. This latest round of funding brings Paga’s total funding to $35 million.

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Fortune Chuku

Fortune Chuku is an IT Consultant and Researcher. He is passionate about education and entrepreneurship.