Sunday, January 29, 2023
  • Home
  • TechBooky
  • Business
  • TV
  • Startup
TechBooky Africa
  • Home
  • TechBooky
  • Business
  • TV
  • Startup
  • Fintech/Finance
  • Login
No Result
View All Result
TechBooky Africa
Home Funding

Softbank Leads Nigerian Company Andela To Raise $200 Million Valuing At $1.5b

Raymond Egbadu by Raymond Egbadu
September 30, 2021
in Funding, Startup
1

Softbank has led Andela to raise $200 million at a $1.5 billion valuation, as per multiple reports. The popular Japanese conglomerate helped the Nigerian startup achieve this through its capital arm — Softbank Vision Fund 2.

Related posts

Carry1st

Bitkraft Ventures Led Carry1st To Complete the $27M pre-Series B Round.

January 18, 2023
Releaf Completed Its Pre-Series A Funding With $3.3M To Industrialize Food Security In Africa.

Releaf Completed Its Pre-Series A Funding With $3.3M To Industrialize Food Security In Africa.

January 9, 2023

This brings the overall venture funding raised by Andela to $380 million. However, other investors were involved in this funding including Whale Rock — a new investment organisation. Others are Chan Zuckerberg Initiative, Generation Management and Spark Capital.

“For remote engineer team builders, Andela has always been a top option. In today’s world where remote work has become a mainstay, Andela has established itself as a go-to platform for top business organisations because we can discover talents effectively and efficiently. Andela opens great opportunities for talented engineers regardless of where they reside,” Jeremy Johnson — Andela’s Chief Executive Officer and Co-founder — said.

In light of the announcement, Andela will have in their ranks, one of the most reputable consumer technology investors — Lydia Jett.  She will join Andela’s board of directors. It is worth noting that Lydia is a founding partner at SoftBank Investment Advisers.

Recall that when Andela was founded in 2014, the startup initially concentrated on nurturing software developers and also functioned as an outsourcing establishment.

A few months after its inception, the company became extremely popular for churning out outstanding and excellent software developers in the African continent. Within two years of establishment, Andela received a $24 million infusion from Facebook’s CEO Mark Zuckerberg, who subsequently paid a visit to the company.

Andela re-branded its mode of operation and became a fully remote company in July 2020. The company would shut down its physical offices in Nigeria, Uganda and Rwanda due to that effect. The idea of becoming a fully remote company at that time was to increase the number of African Software developers who they could employ to work remotely. Within a year after this development, Andela had spread its tentacles to non-African regions including South America.

Today, Andela has a network of software engineers across eighty countries and six continents globally. Through Andela’s impact, thousands of engineers now work for big tech companies including ViacomCBS, Cloudflare and Github.

“One of the biggest challenges the company faces today is hiring remote technical talents. Soon, Andela will partner with some of the largest organisations in the world seeking to fetch new talents,” said Lydia Jett.

“We are very happy to assist Jeremy and his team in their aim of connecting business organisations with excellent engineers and by such, promoting the maximization of human abilities,” she added.

Total
0
Shares
Share 0
Tweet 0
Pin it 0
Share 0
Tags: andelafundingnigeriasoftbankstartupunicorn
Previous Post

Infinix Launches ZERO X PRO, Seeks To Increase Its Market Share In Nigeria

Next Post

ICT Sector Contributes Higher Than The Oil Sector In Q2 2021 — Contributes 17.9% To Nigeria’s GDP

Next Post
ICT Sector Contributes Higher Than The Oil Sector In Q2 2021 — Contributes 17.9% To Nigeria’s GDP

ICT Sector Contributes Higher Than The Oil Sector In Q2 2021 — Contributes 17.9% To Nigeria's GDP

RECOMMENDED NEWS

Vodacom Announces R500 Million Investment for Digital Inclusion in the Western Cape, South Africa.

Vodacom Group Yields 5.2% Revenue Growth Geared by IoT Applications and Mobile Contracts Customers.

6 months ago
Arise B.V Invests $75m/N30b In Ecobank In A Landmark Deal

Arise B.V Invests $75m/N30b In Ecobank In A Landmark Deal

1 year ago
An Insight Into How Early-stage Venture Firm – Loftyinc Capital Management Invests In African Startups

An Insight Into How Early-stage Venture Firm – Loftyinc Capital Management Invests In African Startups

1 year ago
Fintech Faces Headwinds In Africa But Does The Future Hold Any Promise ?

Fintech Faces Headwinds In Africa But Does The Future Hold Any Promise ?

2 years ago

FOLLOW US

  • 70.9k Followers

BROWSE BY CATEGORIES

  • App
  • Banking
  • Business
  • Cryptocurrency
  • Cybersecurity
  • East Africa
  • Economy
  • Enterprise
  • Event
  • Fintech/Finance
  • Funding
  • Gadget
  • Government
  • Insight
  • Internet
  • Investment
  • Nigerian/African Tech
  • North Africa
  • Personnel
  • Research/How to do it
  • Service
  • Social Media
  • Southern Africa
  • Startup
  • Telecom
  • Transport
  • Uncategorized
  • West Africa

BROWSE BY TOPICS

5g acquisition africa app banking CBDC cbn central bank of nigeria cloud cryptocurrency Crypto market cybersecurity e-commerce e-naira east africa ecommerce economy enterprise fintech funding Fundraising google government inec internet investment kenya License microsoft mtn ncc nigeria Partnership Regulator remittance ride hailing seed social media software south africa startup technology telecom twitter west africa

Featured Categories

App
19 Posts
View Posts
Banking
17 Posts
View Posts
Business
7 Posts
View Posts
Cryptocurrency
27 Posts
View Posts
Cybersecurity
13 Posts
View Posts
East Africa
23 Posts
View Posts
Economy
18 Posts
View Posts
Enterprise
31 Posts
View Posts
Event
9 Posts
View Posts
Fintech/Finance
83 Posts
View Posts
Funding
29 Posts
View Posts
Gadget
11 Posts
View Posts
Government
55 Posts
View Posts
Insight
4 Posts
View Posts
Internet
20 Posts
View Posts
Investment
18 Posts
View Posts
Nigerian/African Tech
31 Posts
View Posts
North Africa
2 Posts
View Posts
Personnel
2 Posts
View Posts
Research/How to do it
2 Posts
View Posts
Service
8 Posts
View Posts
Social Media
19 Posts
View Posts
Southern Africa
17 Posts
View Posts
Startup
83 Posts
View Posts
Telecom
35 Posts
View Posts
Transport
10 Posts
View Posts
Uncategorized
2 Posts
View Posts
West Africa
41 Posts
View Posts
No Result
View All Result
Loading
  • Amazon & Stripe
    Stripe & Amazon Iterated Partnership Deal Will Integrate FinTech & Cloud Services For Global Penetration.
    • January 25, 2023
  • Airtel eSIM
    Airtel Launches eSIM Technology In Nigeria
    • January 25, 2023
  • Mafab Communication Debut 5G Cellular Data In Nigeria.
    • January 24, 2023
  • Spotify
    Tech Retrenchment: Spotify Has Prepared To Cut It Global Workforce This Week.
    • January 24, 2023
  • Kuda Bank
    The SBP Issues Kuda Bank FinTech License to Operate In Pakistan.
    • January 24, 2023
TechBooky Africa

We bring you the best Premium WordPress Themes that perfect for news, magazine, personal blog, etc.

Follow us on social media:

Recent News

  • Stripe & Amazon Iterated Partnership Deal Will Integrate FinTech & Cloud Services For Global Penetration.
  • Airtel Launches eSIM Technology In Nigeria
  • Mafab Communication Debut 5G Cellular Data In Nigeria.

Category

  • App
  • Banking
  • Business
  • Cryptocurrency
  • Cybersecurity
  • East Africa
  • Economy
  • Enterprise
  • Event
  • Fintech/Finance
  • Funding
  • Gadget
  • Government
  • Insight
  • Internet
  • Investment
  • Nigerian/African Tech
  • North Africa
  • Personnel
  • Research/How to do it
  • Service
  • Social Media
  • Southern Africa
  • Startup
  • Telecom
  • Transport
  • Uncategorized
  • West Africa
  • Home
  • TechBooky
  • Business
  • Video
  • Contact Us

© 2022 Techbooky Africa .

No Result
View All Result
  • Home
  • TechBooky
  • Business
  • TV
  • Startup

© 2022 Techbooky Africa .

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In