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July 20, 2022

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Good day , 

Victoria here,

YouTube (YT) has announced the launch of some new shopping features for viewers and creators. To help, it has partnered with Shopify to allow creators and merchants to feature their products on their YT channels.

This means eligible creators can now connect their Shopify store to their YouTube channel, enabling display across multiple channels and using Shopify's real-time inventory syncing.

In the United States, creators can enable onsite checkout, allowing viewers to complete their purchases without leaving YouTube. For viewers in the US, India, and Brazil, the company is introducing a new shopping destination in Explore.

Later this year, YouTube plans to expand the shopping destination to more countries.

Today, I’ll be discussing:

  • How Softcom's Weyinmi Barber is making HR desirable
  • Rentit's mission to help Nigerians rent anything
  • Bloom’s $6.5 million seed
  • CAIF’s $112.5 million

Unrelated, but if you've been reading Techpoint Digest in Spam, please click the three dots in the upper right corner and select "Report not spam."

How Softcom's Weyinmi Barber is making HR desirable

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How important is human resource management in business? Let me bring it home. Does your company have a human resources manager or department?

Human resource (HR) is crucial in developing, reinforcing, and changing an organisation's culture. It also helps startups and small businesses in developing and retaining employees.

Weyinmi Barber, Senior Vice President (SVP), People and Culture at Softcom, believes that people underestimate the importance of human resources, which is why startups ignore HR. Do you agree?

"What usually happens with startups is they get to a certain level, and they start having an HR crisis, and at that point, they are running around looking for HR professionals," she says.

She worked as an IT person for the first two years of her career, but she didn't enjoy it. I'm sure you know someone who doesn't like their job. How are they coping? If you're the one, how are you coping? Perhaps, you could learn one or two tips from her.

Besides, Weyinmi's quest for knowledge led her to books, and she tried to connect what she read to real life. Consequently, she expanded her vocabulary and developed a vibrant and artistic personality as expected, asking many questions and dabbling in various crafts.

Plus, Oluwanifemi deduced from their chat that Weyinmi is passionate about human resources and is on a mission to change people's perceptions of it.

When you learn about her eccentricities from childhood, you'll realise she's been giving off the 'people' vibe for a long time. You can learn about her journey to HR here: Softcom’s Weyinmi Barber is making HR desirable one startup at a time

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Rentit wants Nigerians to rent anything seamlessly

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It's not news that Nigerians have been renting items they needed for a long time.

You, a friend, or family might have rented chairs for an event, a bus to transport attendees to an event, or a generator to provide power while the event was taking place.

However, you'll agree with Chimgozirim that renting these items frequently necessitates familiarity with the service providers. Rentit's goal is to eliminate this bottleneck.

However, Seun Abimbola, co-founder of Rentit, did not set out to create a company that allows anyone in Africa to rent anything. So, what sparked the idea?

During an event organised by his friend, the projector that had been rented failed to work. He made a phone call, and a projector was delivered.

That's when he began to think, what would have happened to his friend if he hadn't been there? Was there a platform where people like his friend could rent out necessary items? Could there be a market for assisting people in renting things they need for a short period?

He had met his co-founder, Tayo Adegoke, while enrolled in a course at Pan-Atlantic University. They quickly became friends and started a few businesses together. Naturally, he ran the idea by him, and they soon launched a simple website to test their concept.

This is where I tell you to read Chimgozirim's story for more information: Rentit is helping Nigerians save costs through rentals

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Bloom’s $6.5 million

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If you follow us on Twitter, you may have seen this news. (Why not follow Techpoint Africa on Twitter and Instagram to get information like this before anyone else does?)

Back to the news: Bloom, a Sudanese fintech, has raised a $6.5 million seed, entering a partnership with fintech giant, Visa.

The round saw participation from Visa, Y Combinator, Founders Capital, Goodwater Capital, and VentureSouq. Arash Ferdowsi, Nicolas Kopp, footballers Blaise Matuidi and Kieran Gibbs, and early employees of Revolut and Tide are among the other investors.

Launched by Ahmed Ismail, Youcef Oudjidane, Khalid Keenan and Abdigani Diriye in 2021, Bloom offers high-yield savings accounts and digital banking services, allowing customers to save in a stable currency, the dollar, and spend locally.

The Visa investment was one of the perks of Bloom's participation in Visa's Fintech Fast Track Program. The company is the first Sudanese startup to be admitted to the programme.

As a result of the partnership, Bloom has switched its cards from Mastercard to Visa.

According to Ismail, the partnership with Visa provides them numerous benefits, including faster product launches, marketing assistance, and product support. In addition to the financing, Visa Fintech Fast Track enables them to access these benefits more efficiently.

According to Bloom and Visa executives, the investment and partnership will accelerate the adoption of Visa cards in Sudan and East Africa. Read the full gist here.

CAIF’s $112.5 million

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Cathay AfricInvest Innovation Fund (CAIF), a Pan-African fund, has completed a €110 million ($112.5m) final close.

BIO, EIB, Proparco, SIFEM, AfricaGrow, Triodos Investment Management, and FMO are among the limited partnerships that invested in this fund. Development finance institutions (DFIs), multinational corporations, and high net worth individuals (HNIs) from Europe, Africa, and the Middle East are also involved.

The fund was launched through a collaboration between AfricInvest, a multi-asset investment platform in Africa, and Cathay Innovation, a European-born but global-focused venture capital firm.

CAIF, founded in 1994, manages many asset classes, from private equity to venture capital to private credit. Across 21 funds, the firm has raised more than $2 billion over the last two decades. Its 200+ portfolio companies span 25 countries, with 106 exits.

According to Yassine Oussaifi, a partner at AfricInvest and Co-head of CAIF, the firm backs startups with "strong" unique selling propositions (USPs) and assists them in becoming regional leaders before pursuing global ambitions.

The fund stated that its final close puts it in a strong position to double down on "innovative and scalable post-revenue" ventures.

What I'm reading and watching

Opportunities

  • Applications for the Snapchat 523 Program 2022 are now open. The Black Creator Accelerator will provide a $10,000 monthly stipend to 25 aspiring Black creators to pursue creative endeavours and connect them with opportunities to create long-term, full-time careers. Apply here.
  • PwC is looking for a Knowledge Zone Associate. Apply here.
  • Brimble is looking for a Frontend Engineers. Apply here.
  • Klas is currently hiring software engineering interns. Send your CV here.
  • Google is hiring a Software Engineer. Apply here.
  • Chimoney is hiring a senior Software Developer in Nigeria. Apply here.
  • Anyone interested in data analytics can apply for internships and scholarships here.
  • Meta is hiring product designers. Apply here.
  • Simpu is looking for a business strategist. Check it out here.
  • Volvo has opened Internships in various UX, Data Science, Software and will sponsor your visa just for the period. Apply here.
  • BrowserStack is looking for a lead technical writer. Apply here.
Have a lovely 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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