A woman-owned trading finance platform is now positioned to scale its footprint in Africa. Liquify Established in 2023 by Nadya Yaremenko and Alberta Asafo-Asamoah, the Ghanaian company is the “f irst fully digital trade finance platform on the continent,” its website mentions. It exists to connect small and medium-sized enterprises in Africa with capital markets across the globe. The Condia reports that the platform allows exporters to turn unpaid invoices into cash in the same day while investors can tap into a high-yielding asset class with the added perks of short maturities and low market correlation. What’s more, Liquify has integrated AI into its due diligence process to create more competitive rates for exporters selling to investment-grade buyers along with lower operational costs. “We built Liquify to unlock the $120 billion trade-finance gap holding back Africa’s most dynamic SMEs,” Yaremenko (CEO) said, according to The Condia. $1.5M Raise Liquify has already financed $4...

As college athletes begin profiting earlier in their careers, they’re also making smarter decisions sooner. Many college athletes have been able to directly profit from their name, image, and likeness (NIL) after NCAA members approved an interim policy in 2021. All three NCAA divisions suspended NIL restrictions for incoming and current student-athletes, AFROTECH™ reported; this includes VJ Edgecombe, a 2025 NBA first-round draft pick, who earned $1.4 million in NIL deals thanks to partnerships with Panini America and PSD Underwear. The top college basketball earner is AJ Dybantsa, who has a $4.1 million NIL valuation while representing the Brigham Young University (BYU) Cougars, AFROTECH™ previously reported. College athletes aren’t just pocketing earnings for short-term gain; they’re thinking long-term and making strategic financial moves well before going pro. Quarterbacks LaNorris Sellers (University of South Carolina) and Kevin Jennings (Southern Methodist University) recently...

This self-taught programmer has secured funding for his newly established startup. According to TechCrunch, Bereket Engida had an idea while living in Ethiopia to create a startup that would resolve issues he experienced around authentication. As a programmer, he created a platform that helped developers observe user behavior on their websites while he was working at remote software jobs. This took him down a new rabbit hole after he noticed frequent issues around authentication. He also did not have great faith in some of the tools that already existed to handle the process, which prompted him to take matters into his own hands. “I remember needing an organization feature. It’s a very common use case for most SaaS applications, but it wasn’t available from these providers,” Engida told TechCrunch. “So I had to build it from scratch. It took me about two weeks, and I remember thinking, ‘This is crazy; there has to be a better way to solve this.’” Better Auth This idea eventually...

What do sports and fintech have in common? For Kyle Rowley, it’s all about endurance, focus, and flawless execution. Born and raised in Trinidad and Tobago, the former basketball player once played for Northwestern University and St. Mary’s Gaels before going professional with Spain and Sweden. Now retired, Rowley is the founder of Ankor, a Sweden-based startup that, according to his recent post on LinkedIn, raised $1.3 million to solve one of e-commerce’s biggest pain points: manual reconciliation. In the post, Rowley reflected on the journey. “Today, I’m incredibly proud to say we’re launching something we built for an ecosystem I’ve genuinely come to love,” he shared. “For the past year, our team has been heads-down, rebuilding our entire platform, Ankor, from scratch.” What Is Ankor? Ankor automates the manual, time-consuming process of financial reconciliation by handling tasks such as matching purchase orders to invoices, flagging payment discrepancies, and syncing data across...

What happens when TikTok energy collides with food delivery? You get BiteSight — a new, Black-owned app rising fast in the Apple App Store rankings. It all started with a viral trend: a sister playfully “bullying” TikTok into supporting her brother’s startup. The internet listened — and now, BiteSight is taking off. As of June 24, 2025, the app holds a rating of 4.9 stars out of 5 from over 1,200 reviews. @realeater.flou It’s called BiteSight and it’s really fun I promise 🙂 #foodelivery #nyc #founder ♬ original sound – Lucious ~ Building BiteSight🍔 “I built this because I wanted to see all of my friends’ favorite food delivery spots,” founder Lucious shared. “Now, I can, like, go to their profile, see the places they like and what they rated them… and everything you see, you can get it delivered in like 15 minutes. It’s really cool.” On BiteSight, users scroll through short videos and photos from some of the best real spots in New York City, according to its description on the App...

Editorial Note: Opinions and thoughts are the author’s own and not those of AFROTECH™. Venture Capital , the lifeblood of startups, is undergoing a transition that may decrease the number of Black venture capitalists and venture-backed founders while reducing diversity in the types of ideas that Silicon Valley takes seriously. Historically, venture capital was viewed as niche, unlike other areas of finance. However, venture capital has grown into a global industry that has helped usher in our technological future. Companies like Uber and Airbnb have raised venture capital to build and grow their businesses into the household names they are today. Since 2021, the world of startups and venture capital has been going through a watershed moment that may alter the future of the industry. As AFROTECH™ previously reported, interest rates heavily impact how the startup ecosystem operates. Ever since the start of the war in Ukraine in 2022, interest rates have been hiked globally to combat...

Salt Lake City, UT-based Holladay Bank & Trust — located in a community with a Black population of less than 3% — is now Redemption Bank, following its acquisition by Redemption Holding Co. (RHC). Initially announced in 2023, the deal marks the first time a Black-led investment group has owned a bank in the Western U.S., according to The Associated Press. Redemption Holding Co. Chairman and CEO Ashley D. Bell, former White House policy advisor, cited the collapse of Silicon Valley Bank in 2023 for the acquisition delay. “This process has undoubtedly taken longer than any of us anticipated,” Bell said. “However, we are grateful for the diligence of the staff at the FDIC, the leadership of the (American Bankers Association), and the renewed sense of urgency from the new administration this year, all of which helped bring everything together.” Redemption Bank is now the first Black-owned bank in U.S. history in the Rocky Mountain region and the only one in the “Black-banking desert,”...

A UK-based legal tech startup has secured new funding that helps lawyers streamline their workflow with the aid of AI. Definely Co-founded in 2017 by CEO Nnamdi Emelifeonwu and Chief Strategy Officer Feargus MacDaeid, Definely offers AI solutions geared toward lawyers, allowing them to create, draft, and review legal documents. The company was named one of the 50 fastest-growin g tech companies in the UK by Deloitte in 2023. “A Microsoft Word add-in, the Definely suite contains a suite of products that help you through the complete pre-execution stage of contract drafting with AI power. Surface precedent clauses, better understand provisions and automate hundreds of your proofreading checks,” its website describes. In a LinkedIn post, Emelifeonwu revealed the platform has more than 100 customers, including BT, IKEA, JPMorgan, DLA Piper and Shoosmiths. $30M Series B With a $30 million Series B funding round led by Revaia with participation from Alumni Ventures, Beacon VC, Clio,...

Collab Capital, which backs early-stage founders, has closed its second fund. Collab Capital’s Mission The venture capital firm was co-founded in 2019 by Jewel Burks Solomon, the former head of Google for Startups in the U.S., to advance innovation across work, health care, and infrastructure and invest in financial, human, and network capital, its LinkedIn mentions. The firm had previously raised $50 million in its first fund, which has enabled investments in 38 early-stage startups, including Goodr, a food waste startup that is launching a “first-of-its-kind” community space in Atlanta, GA. The new Goodr Community Market at Edgewood will allow 200 families to shop for free and will give $5 deli meals to kids that visit the space with books, the company noted on LinkedIn. Everything in the market is also SNAP-eligible. $75M Raise Collab Capital wants to further its investments in founders addressing “big, systemic problems,” according to TechCrunch. It has now closed its second...

Spelman College is investing in the future of learning. According to a press release shared with AFROTECH™, Zeal Capital Partners, a Washington, DC-based venture capital firm founded by Nasir Qadree, has secured new funding that will go towards opportunities in financial technology, health care, and the future of learning and work. The firm has secured $82 million for its Zeal Fund II, which brings its overall managed assets to $186 million. Investors in the round include limited partners Citi Impact Fund, M&T Bank, MassMutual, Wells Fargo, Zaffre Investments, and Spelman College. Returning investors from its previous raise include Capricorn Investment Group, Hampton University, and nearly 80% of the other investors from Zeal’s Fund I. “In a market that rewards discipline, efficiency, and resilience, the confidence of our limited partners allows us to champion bold founders who are building enduring companies,” Qadree said in the press release. “We are committed to continuing to...

Millions have been raised to simplify the workflow of tax returns. Founded in 2024, Filed is an accounting software company that utilizes artificial intelligence (AI) to prepare tax returns in minutes rather than hours, according to its website. Its inception was inspired by real-time observations of accounting firms, including those in India, which revealed that their challenges stemmed not from a lack of tools but from labor shortages. This is where AI comes into play. “Filed automates the most time-consuming parts of tax prep. It organizes documents, validates returns, and flags anomalies based on the logic your team already uses. It integrates directly with CCH Axcess, UltraTax, Lacerte, Drake, and other major tax software,” a post shared by the company read. So far, Filed has proven to be a success. Tens of thousands of tax returns were processed using Filed in the Q1 2025 tax season with firms sharing hopeful testimonials, as seen on the company website. One includes Josh...

South Loop Ventures has officially closed a $21 million Fund I to support early-stage startups, with a strong focus on founders of color, TechCrunch reports. The Houston,TX-based venture firm is part of a growing movement to reshape who gets access to capital and where that capital flows. Fueling Founders From The Ground Up Founded in 2022 by Zach Ellis, South Loop Ventures, according to TechCrunch, focuses on seed and pre-seed investments, writing average checks of about $400,000. Anchor investors include Rice Management Co. and Chevron Technology Ventures. Additional contributions came from Texas Capital Bank and The Great Commission Foundation of the Episcopal Diocese of Texas. The tech outlet reports that the firm has made 13 investments and plans to back at least 30 companies from the fund. “We thought it was important to have a fund focused on diverse founders here in Houston, given Houston’s diversity,” Ellis told the outlet. Though South Loop Ventures invests nationally, its...

Mark Cuban is stepping into a new game — this time alongside leaders working to reshape the face of professional sports ownership. According to Bloomberg, the billionaire entrepreneur and former Dallas Mavericks majority owner has been named a general partner in Harbinger Sports Partners Fund, a newly launched $750 million private equity fund targeting minority stakes in legacy U.S. sports franchises. The fund is co-founded and led by Rashaun Williams, a venture investor and limited partner in the Atlanta Falcons, and Steve Cannon, former CEO of AMB Sports and Entertainment, the parent company of the Falcons and soccer club Atlanta United FC, Bloomberg reports. Per the outlet, Harbinger is focusing on investments in teams across the NFL, NBA, and MLB. Williams, Cannon, and Cuban together bring operational experience, league relationships, and deal flow access to the table, significant factors that could set the fund apart from other institutional players entering the sports world....

New funding has been raised to help movie fans benefit from the entertainment industry. MoviePass On May 1, 2025, tech platform MoviePass — with the help of its partner, the C3 Foundation — announced the launch of Mogul, a “daily fantasy entertainment platform” for Hollywood, according to a press release. The platform, which is the first of its kind, allows fans to participate in fantasy-style tournaments, head-to-head matchups, and solo challenges where they can apply their insights to predict audience attendance, critic scores, award winners, and more. “You basically create your own studio by picking real movies, real actors, real directors and the way those projects behave in the real world, and your ability to pick and predict what might happen, impacts your scoring,” explained Stacy Spikes, co-founder and CEO of MoviePass, via an exclusive from Variety. Furthermore, fans can receive incentives such as blockchain -based digital rewards, including new avatar images and artwork,...

A Nigerian healthtech startup has secured funding to scale its next-gen proactive health initiative. According to TechPression, Lagos-based Platos Health has announced $1.4 million in pre-seed funding to expand Platos 3.0, an AI-powered metabolic health platform. The funding indicates significant interest in Africa’s emerging digital health sector, with support from Google for Startups, Invest International, and angel investors from Google, Tesla, and Unicredit, according to the outlet. As part of Platos 3.0, the outlet also states that Platos Health has designed Platos Body Monitor, a home medical device intended to address the rising prevalence of lifestyle-related illnesses in Nigeria. The device is sold in more than 300 pharmacies in Nigeria, including Medplus, Justrite, and Alpha Pharmacy, and costs between ₦80,000 and ₦120,000 ($50 and $80). It’s also available online, with two different options to choose from. “We saw a gap. Health isn’t just clinical; it’s personal,” said...