San Francisco and Lagos-based fintech startup Flutterwave has launched Flutterwave Store, a portal for African merchants to create digital shops to sell online.
The product is less Amazon and more eBay — with no inventory or warehouse requirements. Flutterwave insists the move doesn’t represent any shift away from its core payments business.
The company accelerated the development of Flutterwave Store in response to COVID-19, which has brought restrictive measures to SMEs and traders operating in Africa’s largest economies.
The novel coronavirus pandemic has forced many non-essential businesses across the US to close their offices in a bid to stop the spread of the virus. The disruption caused by the virus has diminished consumer demand and severely impacted the day-to-day operations of firms of any size. Sergey Yudovskiy, Dmitry Karpov, and Mikhail Rozhin started ElectroNeek to help businesses increase their productivity, given the necessity for remote work during the pandemic. ElectroNeek picked up $2.5 million in their seed round led by 645 Ventures, with participation from Soma Capital, I2BF Global, and other funds and angel investors. The San Francisco-based startup was recently in Y Combinator’s (YC) Winter 2020 batch.
WorkClout, a graduate of the Y Combinator Winter 2019 cohort, announced today that it has shifted its focus from manufacturing automation to manufacturing performance support and has raised a $2.3 million seed round.
The funding was led by Spider Capital with participation from Y Combinator, Liquid 2, Soma Capital, Pioneer Fund, Mehta Ventures and several individual investors.
When the company launched last year, it was looking at helping customers drive operational efficiency in their processes, but WorkClout founder and CEO Arjun Patel says they were seeing that there was a ceiling in terms of how much efficiency they could squeeze out of work processes using software.
As global economic competition grows each year, firms work tirelessly to recruit the best talent available on the market. Companies invest in university and college recruiting sessions extensively. They also incentivize their employees with cash rewards to tap their networks to fill empty positions. Many think the problem with hiring top talent is related to not reaching enough potential candidates. However, Kerry and Anna Wang viewed the problem differently and created Searchlight.ai as their solution. Searchlight.ai is a hiring software startup integrating automated reference checks to companies’ hiring processes to build in-depth profiles of prospective candidates. The startup was in Y Combinator’s Winter 2019 batch.