Nigeria-based OPay has closed a new $50 million funding round, the largest for any Nigerian tech startup so far in 2019. The company will use the new funding to deepen its roots in the Nigerian market for all its digital businesses including ORide and OFood. It also has plans to expand to other African markets.
Up to 70% of the tech start-ups that have raised seed financing in Nigeria have had to incorporate offshore holding companies in areas considered to be investor-friendly
The pitch doesn’t matter, a good business speaks for itself, right? Wrong.
Here are the 4 truths that no one ever tells you about raising capital.
Hint: People over ideas.
There are no shortcuts to success. For too many entrepreneurs, this is what the idea of a startup incubator has become.