29.2 C
Thursday, April 25, 2024

Nigerian tech Start-up Max.ng, Releaf Group get $100,000 From P.E Fund Oppenheimer

Must read

- Advertisement -

Nigerian Technology start-ups Max.ng, and Releaf Group, a platform for sorting and distributing farm products have received funds from Harambe Entrepreneur Alliance, whose backers include Cisco Systems Inc. and a foundation of South African businessman Jonathan Oppenheimer.
The fund recently raised $1 million to support its African technology startups and help kick-start the return of venture capital to the continent after the coronavirus outbreak.
The group allocated about $100,000 each to two Nigerian companies to help them through economic downturns caused by the pandemic, Harambe Chairman Okendo Lewis-Gayle told Bloomberg in an interview.
Those are Max.ng, a taxi-hailing service, and Releaf Group, a platform for sorting and distributing farm products.
“The capital markets have frozen up,” said Lewis-Gayle, who founded Harambe in 2008. “We are hoping to create a domino effect in terms of investment in African startups.”
Based in the U.S., Harambe-founded companies raised more than $500 million from prominent families, individuals and international companies to support African entrepreneurs. Its list of past investors has included Mark Zuckerberg, Jack Ma and Bill Gates.

- Advertisement -

More articles


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

- Advertisement -spot_img

Latest article