FinTech news in algeria category
Two years before Youcef Oudjidane co-founded Sudanese fintech Bloom after failing to find startups tackling currency depreciation in Africa to invest in, he was the managing partner and head of EMEA (Europe, Middle East and Africa) at Class 5 Global, a San Francisco-based venture fund with a keen interest in emerging markets. The early-stage fund — which has made four investments: Ceviant, Apata, Thepeer and Anchor — consists of four venture partners, mainly founders that Oudjidane has backed: Ahmed Sabbah (Telda CEO), Prince Boampong (Dash CEO), Shekinah Adewumi (Apata CEO) and Kieran Gibbs, a professional soccer player. Oudjidane believes Africa is at the intersection of opportunity, that is, the next billion people to come online — and judging by its current portfolio of pre-seed stage startups, fintech is what intrigues his fund. Investing in startups building financial infrastructure is one of Byld Ventures’ principal themes, in addition to startups reversing Africa’s brain drain and repeat founders.
The startup also has its eyes on the growing e-commerce market in East Africa, with the long-term goal of growing into a pan-African shipping logistics provider – by tapping the e-commerce market in Africa, which has experienced 18% annual growth since 2014.
