JMIA Stock – Nigerian healthtech startup funding grew 404%, eCommerce almost hit 5900% in 2020 – Techpoint Africa – Fintech Zoom

JMIA Stock – Nigerian healthtech startup funding grew 404%, eCommerce almost hit 5900% in 2020 – Techpoint Africa  Fintech Zoom
“nigeria startups when:7d” – Google News

JMIA Stock – JMIA Stock – Nigerian healthtech startup funding grew 404%, eCommerce almost hit 5900% in 2020 – Techpoint Africa | Fintech Zoom – Fintech Zoom

JMIA Stock – JMIA Stock – Nigerian healthtech startup funding grew 404%, eCommerce almost hit 5900% in 2020 – Techpoint Africa | Fintech Zoom  Fintech Zoom
“nigeria startups when:7d” – Google News

EquityBee raises $20M to help startup employees actually afford their stock options

EquityBee, a stock option marketplace startup, has raised $ 20 million in a Series A round of funding.

Group 11 led the financing, which also included participation from Oren Zeev Ventures, Battery Ventures and ICON Continuity Fund. It brings the company’s total raised to over $ 28 million since its 2018 inception.

EquityBee CEO and co-founder Oren Barzilai says his company’s mission is to help educate startup employees on the meaning of their stock options, as well as provide them with funds to be able to purchase them.

“I have seen many of my friends and colleagues negotiate a $ 500 salary increase, but completely disregard their stock options package, from lack of knowledge due to the whole field of startup stock options being opaque,” said Barzilai, who also founded Tapingo, which was acquired by Grubhub in 2018 for $ 150 million. “As a founder I saw my team members who helped build the company not take part in our success because they left prematurely and didn’t exercise their stock options.”

The way it works is fairly straightforward. EquityBee provides capital to startup employees so they can purchase stock options. The employees get money to cover the cost of exercising their stock options and the taxes. The investors who helped provide the funding so they could do that get a return, or a share of the profit, if there’s “a liquidity event.” EquityBee makes money by charging an upfront fee from the investor on the investment day, as well as any carried interest upon a successful exit or IPO.

Barzilai said that many employees don’t realize they have about 90 days to exercise options before they expire once they leave a company. And even if they do, they may not always have the money to exercise them. That’s where EquityBee wants to help.

The company was originally founded in Israel before launching in the U.S. market, and moved its headquarters to Silicon Valley in February 2020. Since then, it’s funded employees from “hundreds” of companies, including Airbnb, Palantir, DoorDash and Unity, with capital provided by family offices, funds and high-net individuals. Its investor community is made up of 8,000 funds, family offices and high-net worth individuals.

2020 was a good year for EquityBee, according to Barzilai, who says it grew by more than 560% the amount of money it raised to fund employee stock options. It also saw a 360% increase in the number of individual employees funded through its platform.

Looking ahead, the 33-person company plans to use the money toward hiring and expanding product offerings.

Dovi Frances, founding partner of Group 11, said it doubled down on EquityBee after backing the company in its $ 6.6 million funding round in February 2020 because it’s impressed by what it described as the company’s “perfect product market fit” and triple-digit growth.

WeWork co-founder Adam Neumann led the company’s $ 1.5 million seed round in September of 2018.

Startups – TechCrunch

As expected, stock trading service Public raises $220M at unicorn valuation

The day before Robinhood goes under the the Congressional hammer, domestic rival Public.com announced this morning that it has closed a $ 220 million funding round at a $ 1.2 billion valuation. News of the round was first broken by TechCrunch. Further reporting colored in the lines concerning the investment’s size and valuation range.

Confirming the funding news today, Public added a fresh metric to the mix, namely that it has reached one million members – over the course of just 18 months post-launch, the company was quick to point out.

That means that Public’s backers – its latest round was put together by prior investors, including Greycroft, Accel, Tiger Global, Inspired Capital and others – values the company at around $ 1,200 per current “member.” Whether or not that feels rich, we leave to you to decide.

But with rising interest in the savings and investing space – some data here — and Robinhood’s revenues growing to a run rate of more than $ 800 million in Q4 2020 and looking even better at the start of 2021, it’s not hard to see why investors are backing Public. It’s even easier if you believe that Robinhood’s brand has undergone material harm from its woes during the GameStop saga.

The pair, along with a host of other fintech services that offer savings and investing products, have been buoyed by a secular shift in banking away from the physical world (in-person shopping, bank branches, plastic cards) to the digital (neo-banks, ecommerce, virtual cards). Robinhood shook up the trading world with zero-cost investing, fitting neatly into the mobile and virtual banking future that is being built. And Public has taken that model a step further by dropping payment for order flow (PFOF), a method revenue generation in which companies like Robinhood get a small fee for sending their users’ trades to one particular market maker or another.

TechCrunch recently joked that it seems like “there is infinite money for stock-trading startups,” in light of the anticipated Public round, which has now has arrived. Let’s see who is next to take home a big check.

Startups – TechCrunch

Nigeria’s IROKO plans to list on the London Stock Exchange, but it’s not about the money – TechCabal

Nigeria’s IROKO plans to list on the London Stock Exchange, but it’s not about the money  TechCabal
“nigeria startups when:7d” – Google News