![]() Sure there will be the haters who say “I knew we were better than them or cooking their books” but legitimate entrepreneurs are forced to put up with bullshit diligence because some 22 year old VC investor (harsh I know) is unsure of what he should be asking for. When things like this happen, everyone loses. “We look forward to working with Prince and the Dash team as they continue to grow and scale up.” Dash's platform acts as infrastructure for the large percentage of Africans that are unbanked, removing the barriers associated with daily transactions and cash utilization,” said Deven Parekh, Managing Director at Insight Partners. "Dash stands out against competitors with its consumer-friendly, highly flexible wallet offerings to meet the needs of African consumers. Quoting from this:ĭash has perfected a connected wallet for a connected Africa. The investment was supposedly the first led investment by Insight Partners into an African startup and came with the standard “Why we invested” narrative. ACCRA, Ghana- ( BUSINESS WIRE )- Dash, the unified and accessible payments app, announced today that it has raised 32. Was it sour grapes? (Not) Doing Diligence Yet some of the more plugged in founders in the region were questioning this deal. Individual investors included Pine Labs CEO Amrish Rau, Jitendra Gupta of Jupiter Money and the founders of Moss, executives. The round also saw participation from Global Founders Capital, ASK Capital, 4DX Ventures and Zinal Growth Partners. In going from a target $8mm raise to $32mm, Dash had clearly impressed investors. Payments app provider Dash has secured 32.8m in a seed funding round headed by Insight Venture Partners. The summary of this discussion in local parlance is Hian! (if you don’t understand ask your nearest Nigerian for translation) Perhaps they are doing something else.ĥ0k app downloads. A Ghanaian unified and accessible payments app, Dash has raised 32. Just don't see where the 1m customers are. Genuinely surprised I haven't heard of this app. Black dash lines represent the delineated sub-catchments which include Offin, Main Pra and Birim. Ghana-based payments app Dash said Wednesday it has raised 32.8 million in an oversubscribed seed round, the second-largest ever for an African technology. ![]() This $32mm equity raise was discussed on Jason Njoku’s discussion group and here is a taste of some of the comments: Investors were so impressed that Dash reopened and quadrupled its seed round targets off the back of a 5x rise in users in just 5 month. Techweez Payments Firm Dash App Ordered to Stop Operations by the Bank of Ghana. Private dash.watch/ 1,460,736 Highlights. This makes it easy for consumers and businesses to conveniently make payments from their preferred channel.įor now, it remains to be seen how Bank of Ghana and Spektra Technologies resolve the standoff.įollow us on Telegram, Twitter, Facebook, or subscribe to our weekly newsletter to ensure you don’t miss out on any future updates.Dash had launched in 2019 and by March of 2022 had reportedly over one million customers from Ghana, Kenya and Nigeria and and processed north of $1bn. Create your personal Watch App and Glance with Dash for Apple Watch. Since its inception the company has been hailed for creating a unique alternative payment network that enables interoperability between mobile money and traditional banking. ![]() It has been running operations in Ghana since 2019. The platform, whose focus is the development of a unified alternative payment network for people in Africa by leveraging the continent’s Mobile Money network, has been growing, and we even covered them in April 2021. The funding round was led by Insight Venture Partners, ASK Capital, Techstars, Guillaume Pousaz’s Zinal Growth Partners among others Payment firm Dash App has been ordered to stop operations by the Bank of Ghana. This was among the largest funding rounds in Africa and was intended to help Dash spread its operations to other markets such as Tanzania and South Africa. Bank of Ghana has cited Spektra Technologies, owners of digital payments platform, Dash App, for operating illegally and ordered them to stop operations with immediate effect. The move by the Ghanaian regulator comes just days after Dash announced that it had raised $32.8 million in an oversubscribed seed round that attracted top investors from around the globe.
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