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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,...
Moove, marketed as an “African-born, global mobility fintech,” has announced an acquisition. The company, founded in Nigeria by Ladi Delano and Jide Odunsi, enables delivery drivers to finance vehicles and start driving with partners like Uber in three simple steps: apply, get verified, and drive. TechCrunch notes that Moove launched with 76 cars in Lagos in 2020 and has expanded to 36,000 cars. Per the company’s website, over 52,787,109 trips have been completed. Additionally, it is available in 19 cities across six continents. Over the years, Moove has secured significant funding. In 2023, $8 million had been by Absa Corporate and Investment Banking to reach Ghana, bringing its total investment from the bank to $28 million, Fintech Global reports. In March 2024, $100 million had been raised in a Series B round led by Uber to further its expansion, TechCrunch mentioned. The company has also attached a sustainability mission to its business model, seeking to create “the largest and...
Something new is on the horizon when it comes to investing in companies that are often overlooked and underserved, and these Black founders are helping to lead the charge. According to Forbes , Westbound Equity Partners, a venture capitalist firm spearheaded by former nonprofit director Sean Mendy is on a mission to pour millions into companies led by Black, Latin, and diversity-driven founders. “We aren’t investing in underrepresented founders as this altruistic thing,” Mendy told the outlet. “This fund is about investing in the best companies and performance. Explicit impact is what we’re doing on the foundation side.” Since its inception in 2019, the firm formerly known as Concrete Rose Capital has managed to invest in over 40 startups as well as tap into what Mendy says is “the diversity opportunity,” which provides capital to underrepresented founders, especially Black and Latino companies. What’s more, there is a key focus on startups with goals of serving their communities....
Richualist Founder Dawn Myers has scored an investment from “Sharks” Mark Cuban and Emma Grede. On Friday April 5, the founder was featured on ABC’s “Shark Tank.” The purpose of the show is to offer opportunities to entrepreneurs who are looking to start or scale their business by securing funding from its lineup of venture capitalists, its website mentions. The episode starring Myers featured “Sharks” Cuban and Grede, along with Lori Greiner, Kevin O’Leary, and Robert Herjavec. Photo Credit: Christopher Willard Myers was seeking a $150,000 investment in exchange for 10% stake in her company. As AFROTECH™ previously told you, Myers launched The Mint, a hair tool that includes six attachments to detangle and style all hair types, with a special focus on curly to coily types, classified as 3A to 4C. Its technology warms liquid hair products between 130 degrees Fahrenheit and 140 degrees Fahrenheit for deeper penetration into the scalp. Myers said on the show she is currently in talks...
Kai Cenat has turned a vacation into inspiration for advancing youth education. In March 2024, the popular online streamer and YouTuber touched down in the African country of Nigeria for the first time. Cenat documented his experience and aired it on his YouTube channel. During his visit to Lagos, the largest city in Nigeria, he visited Makoko Children Development Foundation School and Orphanage, which serves as both a free school and orphanage for less-privileged children. The school is among some buildings in the Makoko community that float or are on stilts. While visiting the school, Cenat connected with its 23-year-old principal, who told Cenat that the building’s condition is a barrier to teaching students. “This building is coming down, it’s sinking,” the principal explained to Cenat on the documented video. “So, we are looking for support to [break] it down and rebuild it.” Along with the building needing to be reconstructed, he also detailed that it was too small — one...
A mental fitness startup co-founded by Pittsburg Steelers quarterback Russell Wilson has scored new funding. In 2018, Wilson (chief impact officer) founded the digital fitness company Limitless Minds with his brother Harry Wilson (CEO), a former med device and pharma sales leader; DJ Eidson (president), a former pharmaceutical and biotech sales leader; and the late Trevor Moawad, a mental conditioning coach named Sports Illustrated’s “World’s Best Brain Trainer,” according to the company’s website. View this post on Instagram A post shared by Russell Wilson (@dangerusswilson) The website also mentions that the Louisville, KY-based company started as a business coaching consultancy. Four years later, it created a digital platform called Club Limitless, which offers coaching, live on-demand mindset training, and performance tools to train users’ mental fitness. Over the years, some of Limitless Minds’ clientele have included Fortune 500 companies such as Johnson & Johnson, Workday,...
AFROTECH Executive is back! On Sept. 22, AFROTECH Executive is taking place in Brooklyn, NY, at The William Vale. During the final stop of 2023 for the multi-city series, attendees will have the opportunity to network and collaborate with some of today’s industry leaders and executives. View this post on Instagram A post shared by AFROTECH (@afro.tech) Focused on wealth, finance, and innovation, the event is set to hold conversation-starting discussions including a fireside chat with Abim Kolawole, chief audit executive at Northwestern Mutual, moderated by Dennis Cail, founder and CEO of Zirtue, about corporate’s responsibility in closing the wealth gap. In addition, there will be a chat between Wemimo Abbey, co-founder and co-CEO of Esusu, and Ollen Douglass, CEO of Hanover Street Advisors, on investment in fintech. To close the event out, there will be a networking reception presented by Remitly. Grab your tickets here. Ahead of the event, AFROTECH wanted to highlight Black...
When discussing trailblazers in the fintech space, Tanya Van Court is a name that is expected to come up in conversation. The Goalsetter founder has been working tirelessly as a leader to not only spread knowledge of the importance of financial literacy but also backing initiatives that directly support Black and brown communities. As previously reported by AfroTech, Goalsetter and Robert F. Smith launched One Stock. One Future. — an initiative to spearhead financial freedom for the next generation of Black and LatinX Americans. With the success behind her platform, Van Court is also no stranger to the whirlwind of a journey that attaining financial wellness can bring. After seeing her own fair share of how the lack of financial education can leave a devastating impact, she’s a believer that there’s still room to turn in the right direction toward the ultimate goal of financial freedom. “There is no shame in realizing that perhaps you aren’t as well equipped as you thought you were,...
Serena Williams and Kerry Washington are sharing their insight on equity and ownership for free.99. According to Essence, the two have partnered with Carta, an ownership and equity management platform, for its campaign — Equity 101. The launch includes ten fintech lessons focused on equity and investing, as well as videos from Williams, Washington, Alex Rodriguez, Ashley Graham, Tan France, and Steve Nash, in which they “help debunk major concepts that have stood in the way of achieving financial freedom. ” Each of the celebrities involved in the campaign own equity as investors or venture capitalists. As previously reported by AfroTech, Williams founded her VC firm Serena Ventures in 2014 to provide opportunities to women and underrepresented founders and it has since gone on to invest in 43 companies , 25 marked as “diversity investments.” AfroTech has also reported on Washington continuously having her hands in the startup world including her investments in brands such as Aurate,...
Flutterwave has reached exponential heights within the span of six years. AfroTech previously reported that the Nigeria-based fintech startup raised a $170 million Series C round in March 2021. “We will continue to connect you to a world of opportunities and growth, to make it possible for you to reach your customers wherever they are and create endless possibilities for your business,” Flutterwave wrote via an Instagram post following the Series C round. https://www.instagram.com/tv/CMOphnrHe2s/?utm_source=ig_web_copy_link Now, slightly less than a year later, the company has closed on a recent funding round to power its mission of helping provide payment infrastructure across the African continent. Quartz Africa reports that Flutterwave has raised $250 million in a Series D round at a $3 billion valuation, reportedly making it the highest valued African startup. For the list of investors, click here. The latest funding will go toward “expansion and customer acquisition, by looking...
Daniel Moses’s story of going from an Uber driver to a millionaire is nothing short of inspirational. The Nigeria native told his story to the British newspaper, The Guardian. He explained that he’d lost more than 150,000 GBP (more than $200,000 USD) in his transportation business, so he had to re-adjust and rethink his strategy. “My search for a better life started in 2004 when I first visited the UK for the first time. In 2015 I lost well over £150,000 in my Nigerian transportation business which caused me to go through anxiety and depression,” he told the outlet. To make ends meet, he first became a delivery driver, then moved on to become an Uber driver. He drove for Uber until he happened to find some information about property investments. He began implementing the strategies he’d learned, and within five years, he’d become a millionaire. “Sixteen months after, I got into property investing, and through the use of various property investment strategies, I have successfully...