Chinese mobile manufacturer Transsion Holdings, a market leader in Africa, has partnered Kenya’s Wapi Capital to launch a fund for early-stage fintech startups on the continent.
Selected startups will receive funds and also have the opportunity of working from Transsion’s new Future Hub in Nairobi, with Wapi Capital, owned by Nairobi-based fintech company Wapi Pay, identifying startups and conducting due diligence.
The arrangement, which is set to begin in September, is just the first step Transsion intends to take when it comes to investing in African tech startups, with the company also set to target companies in spaces such as ad-tech, e-commerce, logistics and entertainment.
Source: Chinese mobile manufacturer Transsion launches African fintech fund
By Tom Jackson
Techylawyer and its authors do not claim to have written this article, we acknowledge the works of the original author