CDP Institute

Traction, a Nigeria-based merchant solution platform today announced a US$6 million seed round. The investment was anchored by Pan-African investor Ventures Platform and Multiply Partners, with participation from P1 Ventures and other investors. Founded in 2020 by Mayowa Alli and Dolapo Adejuyigbe, Traction is a fintech that allows small companies to receive payments, manage accounts, and access operational tools.

Remedial Health, a Nigerian startup digitizing pharmacies and bringing efficiency to the pharmaceutical value chain, has raised US$12 million Series A equity-debt funding to scale operations in the West African country. Fintech VC firm QED Investors co-led the round, banking on embedded financial opportunities like payments and lending in the pharmaceutical sector.

Pomelo, the Argentine fintech powerhouse founded by industry stalwarts from Mercado Pago, Naranja X, and Mastercard, marks its entry into Chile, signaling its commitment to expanding its fintech empire across the region. As part of its ambitious strategy, Pomelo collaborates with Bitypreço and Biscoint, two of Brazil’s leading cryptocurrency players, and is unveiling the Bitybank Crypto Card, which empowers customers to seamlessly purchase Brazilian natural, bitcoin, and various other cryptocurrencies while offering cashback incentives to new users.

The Mexico City-based legal tech company, ConfiAbogado, has secured USD $1.65 million in seed funding, to expand its reach and enhance the accessibility of legal services across Latin America. ConfiAbogado plans to offer high-volume legal solutions at reduced costs to provide value to people with legal needs through the combination of technology and law. This funding illustrates the growing importance of tech startups in Latin America and the potential for digital transformation in the legal sector.

Salesforce announced the Salesforce India Return to Work program, supporting women who have taken a career break, with a platform and opportunity to jumpstart their professional journey. The six-month program provides eligible candidates an opportunity to work, learn and be mentored as members of the Salesforce team in India.

e&, one of the world’s leading technology and investment groups is scaling its cloud footprint to Oracle Cloud Infrastructure (OCI) Dedicated Region to support its business expansion and modernize the business applications. Under an agreement signed at the Oracle CloudWorld Tour in Abu Dhabi, the technology group will also explore migrating its global HR functions to Oracle Fusion Cloud Human Capital Management (HCM).

Australian marketing agency, DDB Group has launched RAPP, a global Omnicon Precision Marketing Group (OPMG) in Australia. RAPP Australia will add individualisation, data science, advanced analytics, omni-channel CRM and more to DDB Group Australia’s offering, which currently includes strategy, creative, PR and experience.

Apple iSports (AiS), a subsidiary of Prevention Insurance, has entered a MOU for a 45% stake in The Leg Up Australia (TLU Australia). TLU provides subscription-based sports and racing media and content services. AiS will make an initial payment of US$50,000 (AU $75,000), followed by investment in advertising, marketing and stock.

Telecommunication firms – South Korea-based SK Telecom, Germany-based Deutsche Telekom, Abu Dhabi-based e& and Singapore-based Singtel – have on Thursday announced that they formed the Global Telco AI Alliance to create a new customer experience and make a difference in the lives of global citizens using artificial intelligence (AI) technology.

Malaysia’s government and government-linked investment companies (GLICs) will invest US$211M (RM1 billion) in additional funds to match private funds in supporting local start-ups and encourage technopreneurs. Malaysia ranked 20th in the world based on the report of The Global Startup Ecosystem 2023, valuing the Malaysian start-up ecosystem at US$46 billion (RM208.08 billion) for the first half of 2020 to 2022.