( 3 minutes read)
- Tech firm Andela of Nigeria has achieved unicorn status after raising US$200m in a Series E funding round led by Japan’s Softbank Group
- The firm is a software developer from Africa and services its clients both from the continent and other emerging markets in connecting with their global clients
- Andela has a valuation of US $1.5 billion
Tech firm Andela of Nigeria has achieved unicorn status after raising US$200m in a Series E funding round led by Japan’s Softbank Group. The firm is a software developer from Africa and services its clients both from the continent and other emerging markets in connecting with their global clients.
Andela has a valuation of US $1.5 billion. The other unicorns of 2021 in West Africa are Senegal based Wave and Nigeria/US-based Flutterwave They have become eligible to be counted among the unicorns because of their assets getting surpassed over US$ 1 billion. .
The latest funding allows the company to invest further in its cutting edge operations. The company operates in the AI software domain. The latest funding allows the company to invest further in its cutting edge operations. It can considerably value add to its services by providing millions of data points to its customers.
Over the past 12 months the company has gone from training talents from 7 countries to over 80 by announcing a move into Eastern Europe and South America recently. However, Andela’s operations and talents are mainly focused in Africa. People who are working in tech field say that Andela has transformed Africa’s tech ecosystem by creating a new platform similar to PayPal.
