African start-ups scoop U$75 000

Payment platform to be rolled out in Namibia

02 September 2020 | Business

At the recently held Startup Circles.ai Demo Day, 13 of the top emerging start-ups from Africa showcased their solutions to a panel of judges comprising investors, experienced entrepreneurs and mentors, with three being offered deals totalling U$75 000 (N$1.25 million).
One of the start-ups is Mangwee from Zambia, that received an offer of U$25 000 (N$420 000) from the Africa Trust Group for a 10% stake in the company. Mangwee is a payment platform that helps learning institutions automate payment and data management processes.
Mangwee chief executive Inonge Kampamba said that her team plans to roll out the solution to 50 higher learning institutions in Zambia and Tanzania, and 15 in Namibia. The funding will be put towards platform improvement, logistics and finance, marketing and sales, as well as strategic operational partnerships.

Invaluable advice
Over and above the investment offers made, the Demo Day provided not only the pitching start-ups, but all attendees with insights into what investors look for together with invaluable advice from the judges.
Bringing the event to a close, Startup Circles CEO Sandras Phiri said: “Events like these take the mystery out of how investors think and what they are looking for. Essentially, it is like giving you the exam questions and the answers. At Startup Circles we, as Africa's number one start-up school and online accelerator, want to give everybody regardless of geography access to world class mentorship and capital.”
Visit https://www.startupcircles.ai/ for more information about what the organisation can offer.

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