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June 22, 2022

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Good day , 

Victoria here,

Yesterday, Meta's CEO, Mark Zuckerberg, announced that the company is adding new ways for creators to earn money on Facebook and Instagram. It would also be expanding some of its existing monetisation tools to more creators.

Interestingly, the company is experimenting with a dedicated Instagram space where creators can be discovered and paid for their work. This allows brands to share new partnership opportunities.

How? When a brand finds a creator with whom they want to collaborate, they can send them a project with all the details, including deliverables and payment information.

Remember TikTik’s Creator Marketplace? Well, this is similar.

Further, Meta is introducing interoperable subscriptions, which will allow creators to grant access to subscriber-only Facebook Groups to their paying subscribers on other platforms.


Well, today, I'll be discussing:

  • Fisayo Fosudo’s journey in 5 years
  • Healthtracka's $1.5m seed
  • Fido’s $30 million Series A
  • Kibo School’s $2 million seed

Unrelated, but help Techpoint Africa determine how much African tech workers earn by filling out this form or sharing it with your developer friends.

fisayo-fosudo-2

Fisayo Fosudo’s $90 to $5,000 monthly YouTube ad revenue

Raise your hands if you don’t know Fisayo Fosudo. If you don't, well, that's why I'm here. Let's have a brief intro.

Fisayo is known for wearing a specific shirt. You should know this if you’ve watched his YouTube videos or seen him at an event. He's usually in his signature black turtleneck top.

What does he do? He is a Nigerian visual storyteller and YouTuber well-known for his videos on smartphones, accessories, apps, and financial technology.

His decision to start creating content on YouTube stemmed from a love of books and art, an interest in economics, and a deliberate decision to learn video production.

Interestingly, he didn’t want to be in commercial class at first. For context, in secondary school, he wanted to be in art class, but his parents discouraged him, so he ended up as a commercial student.

While some people would be disappointed because they did not pursue their intended academic interest because of parental pressure, Fisayo was glad his parents were involved.

And a few years later, he studied Economics at the University of Lagos (UNILAG). As an Economics undergraduate, Fisayo played an active role in his department, contrasting his introverted personality.

After his academics, he got a job with MAX.ng as a social media strategist, where he “learnt so much on the job; grew as a designer there and learnt video production on the job.”

So, how did he even become a content creator on YouTube? He always read reviews before making purchases and grew to admire the work of popular American YouTuber, MKBHD. So he wanted to do something similar in Nigeria for his demographic. So, in 2016, he took the bold step!

Today, his brand is well-known across the continent, and he is one of 26 African YouTube Black Voices Creator Class of 2022 grantees.

But how did he progress from earning $90 to $5,000 in monthly ad revenue as a YouTuber? Please see for yourself: How Fisayo Fosudo moved from $90 to $5000 monthly YouTube ad revenue in under 5 years

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Healthtracka's $1.5 million seed

Nigerian healthtech startup, Healthtracka, has raised $1.5 million in seed funding.

Hustle Fund and Ingressive Capital co-led the round. With Flying Doctors and Alumni Angels Alliance participating.

Ifeoluwa Dare-Johnson and Victor Amusan co-founded Healthtracka, which offers medical lab tests to Nigerians from the comfort of their homes.

Its offering is a website that allows people to book lab tests online, have samples collected at their homes, and receive results via email within 48 hours. Among the tests available are fertility and STD tests and full body count and COVID tests.

The company focuses on preventive care and works with labs to diagnose patients, sending phlebotomists to their homes.

Further, it collaborates with lab partners like vCare Diagnostics, Lancet Laboratories, and AFRIGLOBAL Medicare to analyse received samples and sends results via mail to users within two days.

While booking lab tests and receiving them in the comfort of your own home could be the start of better healthcare outcomes in Africa, Dare-Johnson believes that comes with its challenges.

Nonetheless, the startup has delivered over 7,000 lab tests in seven Nigerian cities: Lagos, Abuja, Port Harcourt, Benin, Kaduna, Ilorin, and Ibadan.

In addition to increasing user trust, Healthtracka is investing in health education to expand its customer base.

Still, what are the company's challenges, and how would the funds be used? Find out here: "It’s tough but not undoable.” Ifeoluwa Dare-Johnson on Healthtracka’s $1.5m seed round

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Fido’s $30 million Series A

Fido, a Ghanian fintech startup, has secured a $30 million equity investment and some undisclosed debt funding in a Series A round.

Fortissimo Capital, an Israeli private equity firm, led the deal, while Yard Ventures also took part.

Fido offers small businesses and individuals mobile loans of up to $250. It was founded by Nadav Topolski, Tomer Edry, and Nir Zepkowitz. The loans are repaid over a maximum six-month term in a single or series of instalments.

Alon Eitan, Fido's CEO, said that customers can quickly create an account because the digital registration process only takes ten minutes.

To register, customers must upload copies of their identity cards and headshots. These documents are verified using Fido's image recognition model and cross-referenced against public databases. The company says this multi-step authentication eliminates fraud.

Also, the company uses credit-scoring tools to decide how much money it may offer to potential borrowers.

Eitan stated that the startup had loaned $1.5 million to 350,000 Ghanaian customers. This figure is expected to rise as it expands into other African markets, beginning with Uganda.

The investment will be used to add savings and payment products to its portfolio later this year. Also, Fido is set to open its second research and development centre in Ghana’s capital, Accra, which will augment its Israeli branch to help it automate most of its operations to ensure sustainability in the long term.

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Kibo School’s $2 million seed

This is another funding announcement! Relax, it's the final one for today.😂 What's the news? Kibo School, an edtech startup, has raised $2 million in a seed round.

The round was led by Neo. Also, Future Africa, Pledges, Brooklyn Bridge Ventures, Transcend Network and other angel investors took part in the round.

Launched by Ope Bukola, Keno Omu, and Rob Cobb in 2021, the company has introduced a few short courses training 400 students from 13 African countries. Kibo is an online school that aims to provide various STEM degree programmes to African students.

While most online courses are self-paced, the company says learning at Kibo is regulated, and group projects are required.

Moreover, before graduating, students have to complete internships and are connected with professional mentors. A function of the school's agreements with several companies to provide its students with internships and part-time employment.

Recently, Kibo school launched its inaugural programme — a Computer Science degree. It aims to attract 100 students in the first cohort of the three-year degree program, which will have students paying a total cost of $6,000.

Students from six cities in Kenya, Nigeria, and Ghana can now enrol in the programme. But starting in 2023, the school intends to offer more programmes and enrol new students every three months.

The funds will be primarily utilised to start the school's degree programmes and enrol students. This doesn't mean Kibo will stop offering short courses; according to Bukola, it intends to have the short courses certified.

What I'm reading and watching


Opportunities

  • Code for Africa has an immediate opening for a full-time Security Evangelist anywhere in Africa to join its civic technology lab and help build digital tools that strengthen its democracies and empower citizens. Apply here.
  • The Amazon Web Services (AWS) Startup EMEA team is looking for early-career and advanced-career professionals with limited technical experience to join the team as a Startup Associate Solutions Architect. Apply here.
  • The ARMS Labs Lagos Techstars Accelerator Program is now accepting applications from early-stage African fintech and proptech startups.. Apply here.
  • Are you a woman in tech looking for a 3-month mentoring programme in product design and management, data science, and software engineering? Then apply for the She Code Africa Mentoring Program (SCAMP) here.
  • Torche is looking for a UI/UX designer to join its team. If you’re one, apply here.
Have a wonderful Wednesday!
victoria_3

Victoria Fakiya (@latoria_ria)

 

A writer with ADHD who is interested in mental health and how technology is improving the lives of Africans with mental disorders.

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