Africa has a new unicorn. It's yet another fintech added to the list, bringing the total number of unicorns to eight. Currently, there are six other fintechs and a talent management startup. Also, Moniepoint's Series C funding round is the lowest amount any African startup has secured to attain unicorn status

Dive into today’s stories to learn more.

Top Stories 📰

Story 1: A Nigerian-bassed fintech startup has gained unicorn status after securing $110 million in funding, with Google among one of the investors. Development Partners International’s African Development Partners (ADP) III fund led the Series C round.

Story 2: The Local Initiatives Support Corporation (LISC) has announced that its Entrepreneurs of Color Fund (EOCF) has reached its $500 million goal for small business lending nationwide, two years ahead of schedule.

Story 3: New York-based BBG Ventures has raised $60 million to expand the firm’s focus to support founders from diverse backgrounds across race, income, and age.

Hot News 🔥

1. Maya Horgan Famodu, the founder of African venture capital firm Ingressive Capital, wrote an op-ed that unwraps a phenomenon that can erode the standard of excellence and the ethos of honesty and transparency in America.

2. Black Tech Saturdays (BTS), an organization that promotes Detroit’s Black tech entrepreneurs, has received a $1.2 million grant from the Gilbert Family Foundation.

3. Amanda Spann, the visionary leader behind The App Accelerator, is on a mission to make technological entrepreneurship accessible to everyone.

4. Janngo Capital, Africa’s largest gender-equal tech venture capital firm, has closed its second fund at €73 million (about $78 million).

5. LJ Northington, the founder of fashion tech startup Aesthetic, has announced the launch of his AI/ML algorithm, Alma.

Opportunities - Accelerators/Funding, Events, and Jobs💼 

Accelerators 🚀

1. Y Combinator is accepting applications for the Winter 2025 Batch funding cycle, which will take place in San Francisco from January to March.

2. Techstars Accelerator provides funding, mentorship, hands-on training, and access to Techstars' global network of VC investors, corporate partners, and alumni founders.

3. FoundersBoost, a global pre-accelerator program, is an equity-free opportunity to take your business to the next level. 

4. Applications for the Entrepreneurs Roundtable Accelerator Winter 2025 program are open! The companies selected to participate in the program will receive an investment of $150K on a 6% post-money SAFE.

5. HFØ is a selective AI residency for repeat founders. The 12-week program in San Francisco allows founders to focus solely on building revolutionary companies.

 Grants💰

1. Up to $100k | Meta’s Llama solicits proposals from organizations that will use the program to address some of the world’s most pressing challenges, including improving education, environment, and health care outcomes. 🗓️ Apply by 11/22

2. $500-$2K | Wish is allocating grants and financial support to Black-owned small businesses to help promote equality and diversity in American business. 🗓️ Apply now:

3. $10K-$5K | The Black Founder Startup Grant program provides grants of up to $10,000 to Black and multi-racial women and nonbinary entrepreneurs. 🗓️ Apply now

4. $50k | The Southern California Job Creators $50,000 fund will invest in 10 diverse-led businesses in Southern California. 🗓️ Apply by 11/11

Events🎟️

Did y’all get the chance to learn about the brilliant honorees on our inaugural UrbanGeekz 50 List? Well, if you haven't, check out the article here. The must-read listicle showcases trailblazing disruptors making waves in the innovation economy.

As we’re counting down to our second annual UrbanGeekz 50 list for 2024, we invite you to consider sponsoring the list. For more inquiries, kindly send an email to [email protected] with ‘UrbanGeekz 50’ in the subject box.

Africa Tech Festival is a jam-packed, energy-filled week that celebrates Africa’s vibrant tech scene. We bring a passionate community of 15,000+ movers and shakers and showcase the most inspiring examples of tech as a force for good.

Date: 12- 14 November, 2024

Location: Cape Town, South Africa

AFROTECH Conference is the Black tech conference of the year! Get ready to connect with a global community of 20,000+ Black tech innovators during a series of digital and in-person events filled with dynamic programming on emerging trends, networking opportunities with industry leaders and conversations with top tech recruiters.

Date: November 13 -16, 2024

Location: Houston Texas

Black Entrepreneurs Day is the ultimate celebration of Black business and entrepreneurship. Highlighted by insightful conversations with Black business icons including Charlamagne tha God, Flavor Flav, Kelly Rowland, Rashad Bilal, Troy Millings, Jordan Chiles, and many more, plus a live musical performance from global superstar 2 Chainz presented by Raising Cane’s. Black Entrepreneurs Day has quickly become one of the most impactful purpose-driven events in the world.

Created in 2020 by Daymond John, the founder and CEO of FUBU and Co-Star of ABC’s five-time Emmy Award-winning show Shark Tank, the event has raised over $1,000,000 in Black Business grants in partnership with the NAACP and inspired millions of fans!

Date: November 22, 2024

Location: Atlanta, Georgia

Thank you for joining us in this edition of Geekz Insider. We hope our shared stories and opportunities ignite your entrepreneurial spirit and fuel your drive to innovate. From dynamic founders to transformative AI programs and life-changing grants, something here inspires everyone.

Enjoy our newsletter? Share it with your networks so they can sign up here to stay informed on the latest in tech, business, and innovation. 

If you're interested in sponsoring our newsletter, Geekz Insider. Until next time, keep hustling and making those geeky dreams come true!

Written by Stephen Oluwadara