BigBashiru:
Negros always depending on others.... raising money from New York because you can't govern yourselves - the money could not be gotten from African venture firms because it's a failed race

Esseite:
Another payment App?

Taye4j:
Yorubas are eternally blessed.

Yoruba lagba.

Palehair:

That's where the money is. In 8-10 years, they might go down the path of paystack

daewoorazer:
It’s a pitiable hismaPisma that the president of these bright minds is clueless and dumb MR buhari

Palehair:

That's where the money is. In 8-10 years, they might go down the path of paystack

post=97373966:
Good news to good and sane Nigerians.

Bad news to enemies of the nation, AKA Children of hate, frustrations and perdition.

Nigeria will be great in our lifetime, whether children of Shatan and fraudsters like it or not.

God punish devil.

Sanchez01:

Apparently, you have not the faintest idea what pre-seed and seed funding are. Perhaps you think it is Lapo's kind of financial assistance.

Sanchez01:

Apparently, you have not the faintest idea what pre-seed and seed funding are. Perhaps you think it is Lapo's kind of financial assistance.

anochuko01:
I would love to see hardware making this much impact. But the country is so unfavorable.

obynzo:


I wish you could also say that when an igbo man's news is mentioned like this

Neddstark:


IF these people had a mindset like yours and blamed Buhari for everything, they would never have achieved what they did.

stonemasonn:
lol, China will destroy any made in Nigeria hardware company

Emaxwell:



That a big fat lie if only we are ready to make competent hardware


Why can't China beat out Software product

So it shows we are up to the task but no adequate resources

But startup nowadays come dae see pre see money shey I no go open my start up too

Emaxwell:



That a big fat lie if only we are ready to make competent hardware


Why can't China beat out Software product

So it shows we are up to the task but no adequate resources

But startup nowadays come dae see pre see money shey I no go open my start up too

updatechange:
Yoruba boys and tech....
I must say that SW has great youths that are ready to take on the world in nearest future.

ethicallyright:

GTBank CEO stated openly that he will never invest in any Fintech company. Adenuga owns a Telecommunication company(Globacom) and is most likely richer than these VCs that gave this API firm 1 million dollars combined together but he is living in a big barricaded mansion in Banana Island (without access to young tech
guys looking for sponsorship) when he knows the relationship between a telecommunication company and some API firms. I skipped Dangote, BUA etc because at least they don't do tech or innovation but organic and traditional goods.

What I'm writing about is what Bigbashiru is talking about- the inability of a country of more than 200 million people to fund one of its own.

stonemasonn:
Competent hardware cost money, China will beat your price and chase you out of business.

Esseite:


You produce can never be cheaper than the chinese product even if you raise custom duty by 100%. The chinese Govt pays manufacturing coys to make up for cheap prices just to get nations addicted to its produce.

Esseite:


You produce can never be cheaper than the chinese product even if you raise custom duty by 100%. The chinese Govt pays manufacturing coys to make up for cheap prices just to get nations addicted to its produce.

Emaxwell:



It is based on choice and fyi Google and Facebook does this stuff so Nigeria mogul not to buy it only shows there don't have the required details about the business or there have guys that can build similar one

Esseite:
Another payment App?

Competition is at the advantage of the populace, but too many just puts anyone managing peoples monies with virtually zero capital threshold against uncertainties. Moreover Nigerian banks mobile apps virtually do most of what these Fintech coys do.

ethicallyright:


No, it's the African thing of not supporting anybody who is not part of your family. It is the African thing of not investing in long term ventures but short term ponzis like MMM and MBA forex. It is the African thing of not wanting the younger generation to take over any sector of the economy. It happens in Politics, government, religion and every aspect of the Nigerian society.

These young guys seeking VCs should have the privilege to walk up to a Nigerian investor and discuss their idea after an non disclosure contract. And to the best of my knowledge, since the venture firms that give these access to investments are located abroad and most of these new guys cannot even pay to meet them, they rely on middle men who will take 10% of the seed funding. That means, the person who linked them up wit the VCs will most likely take 95,000 dollars for just linking them up. They will be left with 800,000 dollars and 70% of their equity shares on the firm is already gone.

The stuff is an African cannot invest in an idea that will make you richer than him. It's as simple as that.

daewoorazer:


Well I blamed your mentor and I can still send you to school on scholarship so you can be someone in life

thebosstrevor1:


You also can not be richer than an American vc.

That is how vc works, they put money in your business and dilute the shares, soon a wealth transfer from you to the vc will start taking place, in 5 years if the business is successful, you will end up with 0 shares or just 2%