Nigeria’s Cribstock launches real estate investment platform. 2 other stories and a trivia

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This line-up of stories will help you discover the latest happenings around the tech world, today

 

1. Nigeria’s Cribstock launches real estate investment platform

 

Cribstock, a Nigerian real estate investment startup, is offering users the opportunity to become landlords within minutes by purchasing shares of properties that generate monthly rent from tenants in Lagos.

Founded in 2021, Cribstock allows users to own fractions of properties and earn a portion of the rental income.

This micro-investing platform aims to democratize real estate investment, providing users with an alternative to traditional money market assets.

The startup has already garnered significant attention, with 17,000 potential retail investors registered on its platform and four properties listed.

Cribstock’s goal is to increase this number to 12 properties by February of the upcoming year, expanding investment prospects for its engaged user base.

CEO Harold Nno acknowledged the journey of educating people about real estate investing, particularly in an asset class that is novel to many investors and possesses relatively low liquidity.

Cribstock’s approach, which allows fractional ownership and income sharing, taps into the growing demand for alternative investment opportunities and demonstrates how technology is reshaping the financial landscape in Nigeria.

 

Tech Trivia: Which of these audio formats uses lossy compression?

A. AIFF

B. FLAC

C. AAC

D. WAV

Answer: see end of post

 

2. HEDG to revolutionize retirement planning in Egypt

 

Cairo-based fintech startup HEDG has secured a substantial six-figure pre-Seed funding round from local and Saudi investors, positioning itself to disrupt traditional retirement services for private workers in Egypt.

Co-founded by Ahmed Abdel Moaty and Ahmed Eraqi in 2022, HEDG aims to introduce seamless digital experiences and tailored retirement plans to Egypt’s micro, small, and medium enterprises (MSMEs).

HEDG’s focus on addressing the specific needs of MSMEs stands out, offering alternative savings and investment avenues for this segment of the economy. With a pioneering B2B module on the horizon, HEDG aims to empower businesses of all sizes to provide robust pension solutions for their employees.

This approach aligns with a broader trend of fintech companies catering to underserved markets and promoting financial inclusivity.

As HEDG hones its offerings and expands its presence, it is positioned to redefine retirement planning services and contribute to shaping the financial landscape in the MENA region.

 

3. Moroccan edtech, Smartprof, closes funding to boost Venture

 

Moroccan edtech startup Smartprof has taken a significant step forward with a new funding infusion from Fuze, a key player in funding Francophone African startups.

Smartprof, which connects students with qualified tutors, is poised to enhance learning experiences and bridge the gap between proficient tutors and parents seeking effective educational support for their children.

The collaboration with Fuze not only brings financial support but also strategic insights to Smartprof.

Fuze’s strong presence in the Francophone African region is expected to bolster Smartprof’s expansion strategy, contributing to the startup’s mission of promoting exceptional learning experiences.

The investment structure provided by Fuze, including ideation and follow-on tickets, underscores the commitment to supporting startups at various stages of growth.

The partnership exemplifies how funding initiatives like Fuze, along with Digital Africa’s comprehensive support ecosystem, are shaping the future of entrepreneurship and innovation in the region.

As Smartprof and Fuze join forces, the edtech sector in Francophone Africa is poised for transformation, driven by collaboration, innovation, and financial support.

4. Fintech startup, PayHelpa, launches Student Ambassador Program

PayHelpa, an avant-garde fintech company renowned for harnessing the potential of artificial general intelligence in facilitating seamless cross-border transactions, has introduced its anticipated Student Ambassador Program.

The inaugural event took place at PayHelpa’s Nigeria office in Lagos, marking a momentous stride towards broadening prospects for Nigerian students pursuing education in the United States and Canada.

During the program’s launch, Ayodeji Adesola, co-founder of PayHelpa, emphasized the company’s unwavering commitment to nurturing the next generation of fintech trailblazers.

Adesola highlighted the exclusivity and meticulous selection process for the program, which will admit a limited cohort of just 50 students.

“We believe that the fintech landscape has seen a revolutionary development with the emergence of PayHelpa. This student ambassador program is a testament to our dedication to nurturing exceptional talent and fostering a culture of financial inclusivity,” said Adesola at the launch.

“We firmly believe that the future of fintech rests in the hands of the brilliant minds of today’s students, and our Student Ambassador Program is designed to provide them with the knowledge, experience, and support they need to excel in this dynamic field.

“Interested candidates are encouraged to visit www.payhelpa.com/ambassadors to apply. Only 50 students will be admitted into the program at this time,” he stated.

Trivia answer: AAC

Lossy file compression is a form of media compression that shrinks a file by discarding some of its information, creating a lower-fidelity approximation of the original file at a significantly smaller file size.

The resulting images, audio, and videos may exhibit artifacts where the original information was lost. People use lossy compression algorithms to compress image files (such as JPEGs), audio files (like MP3s or AACs), and video files (like MP4s).

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