Kenya’s Lipa Later, a fintech platform founded to empower African businesses to do more by enabling e-commerce, financial inclusion, and shopping on a centralised and fully integrated platform, has raised KES500 million (US$3.4 million) from a privately-placed debt issuance to help it expand its offerings.
Enza Capital, a venture capital firm that backs startups “organizing the offline online” and “digitizing key African industries,” has closed US$58 million across two funds. In 2019, the company launched an early-stage fund to “find, back, and help build category-defining startups” in the pre-seed and seed stages. The fund is still active and has invested in fintech, logistics, health, human capital and climate tech companies.
Conversational engagement platform Gupshup has introduced UPI payments for people using feature phones via a native app called GSPay. The app, developed along with National Payments Corporation of India (NPCI), will use SMS or even IVR based payments system, and do away with the need of data or internet connectivity.
Google will begin the U.S. rollout of its much-anticipated generative AI search capability this week, with rollout in other countries “coming soon.” Search results include links to information sources but Website owners still worry that detailed answers will result in fewer people clicking past Google to their own websites. From Google’s perspective that’s a feature, not a bug.