Egyptian startup Interact Labs secured funding commitments worth US$60,000 from the Nest, a Zoom-based digital event
The other startups taking part were Ivory Coast’s Julaya, which provides small merchants and SMEs with access to digital financial services, and Kenya’s MPost, which creates virtual postal addresses for users. Both received interest from a handful of investors, but no firm commitments. Both, however, secured sizeable funding rounds in December 2019
“I’d like to see The Nest for different regions and specific verticals in the future. We intend to open-source the operating model and brand so that others can take it far beyond what we can do.”
During lockdown, The Nest will take place every Thursday. When lockdown restrictions ease, Jim Chu, chief executive officer (CEO) of UNTAPPED and organiser of the initiative.
“We’ve seen the potential for this to make so many valuable connections, we are definitely going to keep it going, indefinitely,” he said.