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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...
Former Carolina Panther player Mike Rucker filed a lawsuit against his financial advisor, Jon Kubler, claiming that Kubler mismanaged nearly $3 million of his earnings. Rucker and his wife, Kristina, filed a lawsuit in a North Carolina Business Court in March, alleging that they had unknowingly invested in a Ponzi scheme. The couple, who met Kubler while Rucker was playing football for the University of Nebraska, claims that Kubler persuaded them to invest in his Nebraska commercial real estate company Aksarben in 2009, according to The Charlotte Observer. They say the investment was a failure and that Kubler did not return their funds or money from other investors. Of the $5.6 million Kubler and his companies — including Steelpool Inc. and Capital Synergy Partners — had raised for commercial real estate companies, only 4% of the funds were reportedly invested in the ventures. Kubler had been the Ruckers’ financial advisor for 21 years and in the early 2000s had “integrated himself...
Rapper Gunna has been prioritizing his wellness and has become co-owner of hydration brand Flerish Hydration, according to Rap Industry. For the Georgia-born entertainer, this move is fully aligned with his brand and serves as a well-intentioned strategic addition to his business portfolio. “I don’t put my name on just anything. Flerish is different, it’s clean, it works, and it’s become a part of my everyday lifestyle. I’m happy to be coming on board and look forward to the journey ahead,” Gunna told Rap Industry. View this post on Instagram A post shared by FLERISH HYDRATION (@flerish) The company offers watermelon-based products with electrolytes, real ingredients, and vitamins E, B6, and B12, as well as L-Theanine, Zinc, and Magnesium. The intention is to increase performance and recovery, which was ideal for Gunna’s on-the-go lifestyle as a performing artist. “Right now, I’m focused,” Gunna told the outlet. “There’s no off switch. I needed something that supports me naturally...
Fanbase Founder Isaac Hayes III wants content creators to understand their worth. Creators Are The New Major Network The pendulum is swinging in favor of the creator economy. According to Forbes, the top creators on Instagram, TikTok, and YouTube generated $853 million in revenue, excluding brand deals and other income streams, marking an 18% increase from 2024. Collectively, these creators amassed 3.4 billion followers, a 24% jump from the previous year. By 2030, the number of creators is projected to grow from 67 million to 107 million. As AI’s influence grows across industries, content creation is expected to become even more streamlined and efficient, fueling further revenue growth. This year’s list included fashion creator Wisdom Kaye, who generated $5 million in revenue in 2024, AFROTECH™ previously reported. Kai Cenat is also listed, taking the 28th spot, with a reported $8.5 million in earnings. Cenat is well known for organically growing his presence on Twitch, which...
Richard Seymour is a minority owner in the league he once played in. A three-time NFL Super Bowl champion and Hall of Famer, Seymour played in the league for 12 seasons and earned $89.5 million in career earnings, notes Spotrac. Beyond the playing field, he has been taking charge within the business and investing arena. In fact, he co-founded 93 Ventures — named as an homage to his jersey playing for the New England Patriots — alongside venture capitalist and strategic advisor Albert G. Sye IV. According to its website, the venture capital firm is based in Atlanta and has interests in industries such as late-stage pre-IPO tech unicorns, growth-stage consumer packaged goods and fintech, and early-stage Web3. Its investment portfolio includes Lyft, Airbnb, Sundae, Dapper Labs, and Calaxy, which is a social marketplace founded by tech entrepreneur Solo Ceesay and NBA star Spencer Dinwiddie. Calaxy has direct-to-consumer monetization and is intended to create more intimate experiences...
It’s official! Detroit will have its own WNBA team, backed by familiar and notable names. NBA legends Grant Hill and Chris Webber are minority team owners of the new WNBA team. As AFROTECH™ reported, Hill and Webber joined a bid in January 2025, led by Tom Gores, the owner of the Detroit Pistons, to secure a stake in bringing a WNBA team to Detroit. Both Webber and Hill had once played in the city, representing the NBA. Now, halfway through the year, the group — which also includes football quarterback Jared Goff — has much to celebrate, as their bid for a WNBA team has been approved. The team is set to launch and begin competing by 2029, with Little Caesars Arena as its home base and a new practice facility in development, according to CBS News. “This is a huge win for Detroit and the WNBA,” Gores said, per the outlet. “Today marks the long-hoped-for return of the WNBA to a city with deep basketball roots and a championship tradition.” He added, “Detroit played a key role in the...
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...
These founders are leaning into AI to help patients combat their medical bills. Avelis Health Founded in February 2025 by Angel Onuoha (CEO) and Ahmad Shehu (chief technology officer), Avelis Health employs AI agents to find errors, audit, and negotiate medical bills, which can help lead to direct savings as well as prevent rising premiums and less favorable coverage. Onuoha shares that its inception derived from an injury that left him with piling medical debt. “I’ve dealt with a chronic knee injury for the past decade and had multiple surgeries on my right knee. What inspired me to start Avelis was having to fight down over $250K of inflated hospital bills as a result of these procedures,” he mentioned in an email to AFROTECH™. “If I was struggling with this system, I knew millions of other Americans were facing the same problem without the resources to fight back. The medical billing system is broken, 100 million Americans have medical debt, and 50-80% of bills have errors in...
A new round of funding has been raised to invest in the health of African businesses. PaidHR In 2020, CEO Seye Bandele and Chief Technology Officer Lekan Omotosho co-founded an HR management platform designed to support African businesses and their workers. According to a news release, the platform, named PaidHR, automates local and cross-border payroll in 49 currencies and has tools such as Earned Wage Access, which allows employees to receive a portion of their payment before payday. PaidHR can calculate taxes and pensions as well as file with the appropriate government agency. Additionally, it can set up benefits for medical insurance, pensions, housing, and more, its website states. “We’ve always been driven by a simple yet powerful idea: that managing your team and payroll shouldn’t be a source of stress, but a catalyst for growth and well-being,” the company stated in the news release. $1.8M Raise Led By Accion Venture Lab PaidHr, which launched in Nigeria, has expanded its...
Dwyane Wade has widened his footprint in the sneaker space. Way of Wade In 2012, the three-time NBA champion launched the Way of Wade brand, alongside Li-Ning, a Chinese athletic apparel and footwear brand founded in 1990 by Olympic champion gymnast Li Ning, its website notes. Within a year of forming the partnership, six signature shoes launched, and now the Way of Wade brand is in its 10th iteration. View this post on Instagram A post shared by WAY OF WADE by Dwyane Wade (@wayofwade) Expanding Globally Wade plans to scale Way of Wade through global sneaker platform KICKS CREW after becoming its latest investor, according to Sports Illustrated. This will unlock increased support in product development, marketing, and international distribution. Wade will still retain creative and operational control of his brand. “KICKS CREW is redefining what it means to empower athletes. This isn’t just about selling sneakers—it’s about ownership, control, and building something that lasts,” Wade...
Florida’s only Black tech hub has launched a new startup competition for underrepresented tech founders in South Florida. SPARC South Florida The Source announced SPARC South Florida, a competition geared toward Southern and Caribbean startups, according to information shared with AFROTECH™. https://www.instagram.com/p/DKLEfB6JR4g/ “While there are systemic barriers, one thing that we’re doing at The Source is we’re always focusing on solutions, particularly solutions here in South Florida and right where we are in Downtown Miami,” The Source Co-Founder and Partner Hilmon Sorey, an ex-Silicon Valley executive with over 500 companies within his portfolio , told AFROTECH™. Sorey added, “What we saw was an opportunity for this competition to bring investment and infrastructure directly to founders. So it’s really not just a pitch competition. It’s a launch pad. And the idea is that founders can access tools and funding and the relationships that they need to scale.” The company was...
In East Oakland, CA, a powerful coalition of Black-led organizations has secured $100 million to fund Rise East, a decade-long effort to transform 40 blocks into a model for what real community-led development can look like, Shoppe Black reports. According to the outlet, after decades of disinvestment and promises not met, the project marks one of the most significant grassroots investments in Oakland’s history, aimed at reversing long-standing patterns of displacement and economic exclusion. A Vision Rooted In Community At the center of Rise East is the 40×40 Council, a group of Black-led nonprofits working together to create long-term stability by focusing on three key areas: education, public safety, and housing. The 40-block area, according to Shoppe Black, spans from Interstate 580 to the San Francisco Bay and from Seminary Avenue to the San Leandro border. It’s home to Oakland’s largest concentration of Black residents, a community that has long endured the ongoing effects of...
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,...
Nigerian clean energy startup Salpha Energy has secured $1.3 million in funding from All On, an impact investment firm supported by Shell, People of Color in Tech (POCIT) reports. The funding will help Salpha Energy advance its mission of delivering dependable and affordable solar power to underserved communities across Africa. Notably, Salpha Energy is the only female-founded company in sub-Saharan Africa operating a solar home system assembly facility. Investment To Fuel Solar Growth And Innovation The $1.3 million investment will scale Salpha Energy’s operations, expand its product offerings, and strengthen its local assembly infrastructure. The company’s solar power solutions in Africa, ranging from 150Wp to 100kWp systems with battery storage and smart inverters, have already reached more than 2 million people, helping to make clean energy more accessible and affordable, according to POCIT. “This capital raise is a huge step forward in our vision to power homes and businesses...