Butterflies And Unicorns 🦋🦄
Flutterwave Becomes A "Unicorn"
This week, the African fintech company, Flutterwave, became a “unicorn” when it announced that it had raised $170 million in its Series C round, bringing its valuation to just over $1 billion.
So what exactly is a “unicorn”? In startup terms, a unicorn is a privately held startup company that is valued at over $1 billion.
Flutterwave being valued at $1 billion is significant as it becomes one of the few African startup companies joining the likes of Jumia, Cell C, and Fawry.
After Paystack’s Stripe acquisition and Flutterwave’s march to unicorn status, what other startups should we pay attention to?
When Will We See A Unicorn From Ghana?
With Nigeria getting a lot of attention, what about Ghana? What local startup should we start looking at to hit unicorn status?
The answer might be mPharma.
It’s actually not crazy to think that mPharma, the tech health company, could be a unicorn in the years to come. The company announced that it had expanded to Ethiopia this week, making it its 8th market currently.
mPharma Expands To Its 8th Market In Ethiopia - Tech Nova
Health tech startup, mPharma, has announced its expansion to its 8th market: Ethiopia. The Ghanaian health-tech startup which was founded by Daniel Shoukimas, Gregory Rockson, and James Finucane, m…
The company last year raised $17 Million in its last round and has currently raised $55 million in total.
With vaccination drives slowly starting up on the African continent and the rest of the world, funding of African startups might start to pick up sooner rather than later and it wouldn’t be surprising to see mPharma pick up more funding during that period.
Will it become a unicorn? We’ll see.
By Tech Nova
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