Finfind’s News Roundup for Busy Entrepreneurs 23.6.17

Every week Finfind selects some of the newsworthy articles to help keep busy entrepreneurs up to date and informed about the latest happenings in the world of SME Finance and other SME news. Enjoy.

SA’s WhereIsMyTransport Gets Additional R20 million Funding from a London-based Investor

South-African based tech start-up WhereIsMyTransport has announced an investment of £1.2 million (R19.8 million) from Goodwell Investments and Bombardier.

Last August, the investment firm invested £1.165 million (R22.1 million) in the tech start-up.

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Wallettec to represent South Africa at the EcoBank Fintech Challenge

Online payment solution Wallettec will today (20 June) represent South Africa, competing against 19 other companies at the EcoBank Fintech Challenge held in Togo.

“South Africa is filled with really great startups and businesses especially in the fintech space, being the only one selected for this event is truly an honour,” said Wallettec’s founder, Johan Meyer in an interview with Ventureburn.

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Why SA’s start-ups are not winning any races

The start-up scene in SA is burgeoning. There are more than 300 incubators and entrepreneur development organisations and a few industry bodies.

The available capital pool has increased substantially in recent years and throw a stone in Johannesburg or Cape Town and it will hit a start-up co-working space.

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“Quantum shift” needed if SA to produce unicorns

South Africa’s startup space needs a “quantum shift” if it is to speed its development and produce its first unicorn, according to a new report.

The report, which is entitled ‘Unicorns, Gazelles & Leapfrogs: Fast-tracking the South African startup ecosystem’ and is available here as an e-book, looks at recent successes but also analyses negatives. It is based on interviews with 36 players in the South African startup ecosystem.

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Fintech: Africa’s payments and remittances space becoming crowded

Disrupt Africa last week released its Finnovating for Africa: Exploring the African Fintech Ecosystem report, which looks at key trends in terms of the location, focus, fundraising successes and chances of acquisition of fintech start-ups. We asked Tom Jackson, co-founder of Disrupt Africa, about the report’s major takeaways.

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SA investors are too risk averse: Vinny Lingham

The venture capital community in South Africa is too risk averse and doesn’t understand the start-up model, particularly when it comes to high-growth start-ups.

That’s the view of San Francisco-based South African Internet entrepreneur Vinny Lingham, who sold his last start-up, online gift-carding venture Gyft, for a rumoured US$50m-plus to First Data Corporation in 2014.

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Africa’s Tech Revolution: Beyond the hype

From the rooftop lounge of Andela’s appropriately named EPIC Towers, the skyline of Nigeria’s coastal economic hub Lagos is littered with telecommunication pylons stretching as far as the eye can see.

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Here’s What These Successful Entrepreneurs Have Learnt from their Dads

Like many other tasks and challenges in life, entrepreneurs are also tasked with the responsibility of being a perfect role model to their kids.

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Exclusive: Travel-tech startup ExploreLifeTraveling gets seed funding

Travel-tech startup ExploreLifeTraveling India Pvt. Ltd has raised its first external round of funding from a clutch of investors, a top company executive told VCCircle.

The seed round saw the participation of Mekin Maheshwari, former head of engineering and chief people officer at Flipkart, former Yahoo and Amazon executive Bharat Vijay, former Facebook and Zynga executive Krish Seshadri, and former Google executive and Infoworks founder Amar Arsikere.

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