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Okra Secures $3.5m Seed Round Led By Susa Ventures

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Nigerian fintech platform and Open Finance (API Economy) pioneers, Okra, have secured a $3.5m Seed raise.

The round was led by US-based Susa Ventures, with participation from existing investors TLcom Capital, and newly joined Accenture Ventures.

This comes just under a year from closing its $1m pre-Seed round with only TLcom Capital participating in the round. This brings Okra’s total funding at seed to $4.5m. The capital will be deployed to expand Okra’s data infrastructure across Nigeria. 

Founded by Fara Ashiru Jituboh and David Petersidein January 2020, Okra’s Open Finance platform is the digital transformation tool for businesses in Africa and its API enables developers and businesses to build personalized digital services and fintech products for customers.

Since launch, the fintech infrastructure company has provided its services to high calibre financial institutions, startups, and government agencies including Interswitch, Access Bank, uLesson, Aella App (YC W17) and over a 100 digital-first platforms.

In just under a year from launch, the fintech infrastructure company has seen an avg. month-on-month API call growth of 281%. In addition, the company has analyzed 20M+ transactions and analyzed over 5.5M transaction lines in March 2021 alone.

Fara Ashiru Jituboh, Okra co-founder and CEO/CTO says, “We build the tools that businesses need to achieve full digital transformation and we are excited to be welcoming some highly strategic global investors as we scale our Open Finance-as-a-Service operations.

The opportunities to collaborate and grow together are significant and we are now in a strong position to continue to build and scale in the African, and global API space.”  

David Peterside, Okra co-founder and COO says, “The companies that will dominate the business landscape over the next decade are prioritizing a digital-first experience for their customers today — and will leverage data & personalization to win market share over time. We share the same vision on Open Finance in Africa and are excited to be working closely with the team at Susa.

Having Accenture Ventures  join us at Seed stage speaks volumes about our team’s ability to execute at a global scale.” 

Leading the round, San Francisco-based Susa Ventures is known as one of the premium seed stage funds in Silicon Valley with notable early investments including Robinhood, Flexport, Andela and Fast.  Susa is also known for co-investing with top tier firms like Peter Theil’s Founders Fund, Index Ventures, Kleiner Perkins, GV (Google Ventures), General Catalyst, Andreessen Horowitz, & Accel Partners.  

Susa’s General Partners include Chad Byers, who is the son of Brook Byers, a founding member of Kleiner Perkins; Leo Polovets, ex-LinkedIn and Google engineer; and Seth Berman, who was previously the VP of marketing at luxury good company Richemont (CFR:VX) — owners of Cartier, Montblanc, Piaget, etc. Seth Berman,General Partner at Susa adds, “We’re thrilled to partner with Okra as they enable developers across the African continent to transform digital financial services. We’re blown away by the quality of Okra’s team, pace of development, and the excitement from the customers building on their API.” 

Omobola Johnson, Senior Partner at TLcom Capital and Former Minister of ICT in Nigeriasays,  “We have consistently been impressed with Fara’s technical depth and expertise, which when combined with the entrepreneurial acumen she and David bring to the company leaves us confident that they are building Africa’s most stable and robust API infrastructure. TLcom is delighted to continue partnering with Okra.” 

Accenture, a global professional services company with leading capabilities in digital, cloud and security also participates in this round, with Tom Lounibos, Managing Director,t Accenture Venturesadding,“Fara and David have a compelling vision and value proposition, and we believe Okra’s powerful technology can address critical challenges in the African financial market. We look forward to working together to help Okra scale its solutions for maximum impact.“ 

Beyond Susa and Accenture Ventures, Okra brought on three super angels to this round. Rob Solomon; Chairman at GoFundMe — he is also a former Partner at Accel, Arpan Shah; Founding engineer and ex- Head of Data Platforms/Data products at Robinhood, and Hongxia Zhong; Founding engineer and ex- Senior engineering manager at Robinhood. 

Consumer behaviour in Africa is changing and consumers are demanding full digital experiences of all services — including financial services. Across the business landscape, the number one priority across every board room is digital transformation and Okra is the go-to platform for developers and businesses to build end-to-end personalized digital experiences for consumers in Africa. 

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Refurbished tech: Making a smart choice for a greener future

By Qrent Managing Executive Kwirirai Rukowo

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Kwirirai Rukowo + Refurbished Tech
Kwirirai Rukowo

Consumers and businesses are constantly striving for the latest and greatest technology. However, behind the pursuit of cutting-edge devices lies a significant environmental toll – one that often goes unnoticed. The production of new technology requires vast amounts of natural resources, energy, and labour, contributing to both environmental degradation and significant carbon emissions.

With concerns about sustainability at an all-time high, companies are now looking for ways to reduce their environmental impact without compromising on performance or innovation. Refurbished tech, such as the solutions offered by Qrent, presents an effective, affordable, and eco-friendly alternative.

The refurbished computers and laptops market is set for remarkable expansion, driven by both cost-effectiveness and a growing commitment to sustainability. According to Credence Research, the market is projected to surge from USD 17,856.6 million in 2024 to USD 39,405 million by 2032, achieving a compound annual growth rate (CAGR) of 10.4% during the forecast period.

This growth underlines the increasing adoption of refurbished IT equipment by businesses, educational institutions, and individual consumers as they seek to balance performance with environmental responsibility. The rising trend not only helps organisations reduce capital expenditures but also supports circular economy initiatives by extending the lifecycle of electronic products

As businesses face increasing pressure to meet environmental, social, and governance (ESG) goals, refurbished tech is fast becoming a preferred choice for companies looking to cut costs while reducing their carbon footprints.

At Qrent, businesses can access high-quality, refurbished IT equipment that meets the demands of modern enterprises while simultaneously supporting sustainability initiatives. The company provides a range of refurbished devices including computers, laptops, and servers, ensuring that businesses can operate efficiently while minimising their environmental impact.

These devices are thoroughly tested and restored to like-new condition, offering the same reliability and performance as their brand-new counterparts but with a fraction of the carbon footprint.

Refurbished tech and the circular economy

The transition to a circular economy – a system that emphasises reusing, recycling, and remanufacturing – has become a critical strategy in tackling the world’s waste crisis. The electronics industry is one of the largest contributors to this crisis, with e-waste being the fastest-growing waste stream globally.

By choosing refurbished technology from Qrent, businesses contribute directly to the circular economy. When companies choose to refurbish and extend the lifecycle of their IT devices, they prevent valuable resources from ending up in landfills and reduce the demand for new products, thereby conserving raw materials and decreasing pollution.

Qrent’s refurbishment process includes the responsible recycling of old components and ensures that all equipment is brought back to life in an eco-friendly manner. This not only helps in reducing waste but also plays a significant role in limiting the environmental impact of tech manufacturing.

Embracing circular economy strategies not only prolongs the lifespan of IT assets but also significantly cuts down the need for new manufacturing – thereby reducing carbon emissions. The 2024 Forrester Report on The Circular Economy & Sustainable Manufacturing reveals that a substantial share of firms are already reaping sustainability benefits: 38% have adopted innovative delivery and fulfilment options that minimise waste, 32% are improving waste management practices, and 28% are focusing on more efficient material sourcing.

By opting for refurbished technology, companies can leverage these practices to lower reliance on virgin materials and the high emissions associated with producing new devices, marking a crucial step toward a greener, more sustainable IT procurement model.

Attaining your sustainability goals

Qrent provides businesses with sustainable IT solutions. The company not only supplies refurbished technology but also offers a comprehensive range of services that include equipment leasing, IT asset management, and secure data destruction. Businesses can now gain access to a scalable solution that meets their IT needs while simultaneously supporting their ESG initiatives.

The company’s commitment to reducing e-waste is evident in its emphasis on responsible recycling and disposal practices. When companies dispose their old IT equipment with Qrent through their IT Asset Disposal Solution, they can be confident that their devices will be decommissioned properly and reused, ensuring that valuable materials like metals, plastics, and glass are recovered and re-entered into the manufacturing cycle.

This process prevents toxic substances from polluting the environment and ensures that e-waste is managed in a safe, responsible manner.

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Anambra State Government Launches SolutionLens to Drive Transparency and Citizen Engagement

Reporter: SANDRA ANI

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SolutionLens launch
Officials at the SolutionLens launch

In a bold step towards deepening transparency, accountability, and citizen participation in governance, the Anambra State Government has officially launched SolutionLens, a tech-driven platform designed to track government projects and strengthen engagement between citizens and the state.

The launch event, which was held on Thursday 15th May, 2025 at the SID  Building in Awka, brought together key stakeholders, including government officials, civil society groups, community representatives, development partners, and the media.

The platform was developed through a collaborative effort by the Ministry of Budget and Economic Planning, the Ministry of Information, and the Anambra State ICT Agency.

Representing the Governor, Mrs. Chiamaka Nnake, the commissioner for Budget and Economic Planning, described SolutionLens as “OGP made easy and a democratic tool.” She emphasized its value in planning, budgeting, and fostering investor confidence, thanks to its community-based feedback mechanisms.

In her welcome remarks, Mrs. Ogochukwu Orji, the State Coordinator of the Open Government Partnership (OGP), noted that SolutionLens is “built to shine a light on public projects and empower citizens to ask questions, hold government accountable, and ensure our shared resources are used for the common good.”

Key features of the platform include:

  • A centralized digital hub for government projects
  • Interactive maps and a user-friendly interface
  • A live chat feature to connect citizens directly with MDAs

Speaking during the event, Dr. Law Mefor affirmed that the platform will help Ndi Anambra “access real-time information on what government is doing,” while CFA highlighted its ability to “capture and preserve moments,” underscoring the value of technology in governance.

SolutionLens launch
Government officials present at the SolutionLens launch

One of the key highlights of the launch was a live demonstration of the SolutionLens platform, followed by the formal inauguration of MDA focal persons who will serve as key liaison officers in ensuring the platform remains updated and responsive.

Participants at the launch commended Governor Charles Chukwuma Soludo, for this forward-thinking initiative, describing SolutionLens as a game-changer in how government connects with its people.

As part of its next steps, the government urged all citizens to actively engage with the platform and help spread awareness. This, they emphasized, will not only benefit Ndi Anambra today but safeguard the integrity and prosperity of the state for generations to come.

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Nigeria’s Biggest Tech Conference Opens in Enugu

Minister Bosun: I’ve never seen anything so big | Mbah: We’re driven by the knowledge that the future is technology, reports SANDRA ANI

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Enugu Tech Festival
L-R: Minister of Youth Development, Ayodele Olawande; Minister of Communications, Innovation, and Digital Economy, Dr. Bosun Tjinani; and the Governor of Enugu State, Dr. Peter Mbah, during the opening of the 2025 Enugu Tech Festival at the International Conference Centre, Enugu, Wednesday.

The 2025 Enugu Tech Festival being organised by the Enugu State Government kicked off on Wednesday with the Minister of Communications, Innovation, and Digital Economy, Dr. Bosun Tijani, describing it as the biggest technology conference that has ever happened in Nigeria.

Tijani said the Tech Festival, which attracted thousands of youths from within and outside the state, was a major leap for Nigeria’s determination to build a robust digital economy, noting that Enugu State under Governor Peter Mbah, had moved from policy to progress to lead the tech revolution in Nigeria.

This was even as Governor Peter Mbah urged the youths to embrace technology, insisting that the future is technology.

Speaking, the Minister said that the Tech Festival, tagged Coal to Code, fitted into the agenda and activities of the Federal Ministry of Communications, Innovation and Digital Economy, having recognised that the future of digital economy in Nigeria would not only be built in Abuja, but would instead be co-created across all states.

“Enugu is showing how this should and will be done. I have never, never been to a conference on technology in Nigeria that is this big. I founded the first technology hub in Nigeria, the very first in Nigeria. So, I know a thing or two when technology people gather. I can assure you that today, you are part of history because we have never seen anything this big in Nigeria before.

“There is something powerful about your state: the energy, the ambition, the possibilities. Just two years ago, only a few people could imagine this kind of tech momentum. But today, Enugu has not just imagined, Enugu is building it. Under two years, we have seen investment in digital infrastructure, and the innovation ecosystem of the state.

“What is happening today in Enugu is part of something bigger. We are now witnessing a generational rise, not one where people complain and protest, but one where creativity is used to shape the future. Not just with passion, but with precision,” he stated.

While commending the participants for rising to “create the kind of Nigeria the world will pay attention to,” Tijani called for collaboration, commitment, and hard work by all stakeholders to make it happen.

“Progress is not automatic, but needs all of us. It needs the government to continue to be brave. It needs the private sector to invest deeper. It needs mentors, builders, teachers, and it needs leaders,” he concluded.

Speaking, Governor Mbah, while highlighting how his administration had invested in technology to dramatically revolutionise security, land administration, education, among others, noted that the Enugu Tech Festival was part of his government’s wider efforts to build the youth of the state into wealth creators and highly sought-after workforce of tomorrow’s workplace.

“The power of technology and innovation and what we can accomplish is something that I want the youths to be mindful of. If you look at the way things are being done in the world today, we are now talking about an era where people just sit down with great ideas, create platforms where they begin to essentially benefit from that platform.

“An example is the Uber that came and disrupted the city taxi without owning a key. Today, they provide by far the largest traffic just by creating a platform. You can extend that to Airbnb. Without owning a key, these guys have disrupted the business of those who own several brick and mortar houses. You can also extend that to Tesla. That is the power of technology. This shows essentially that technology is where the future is,” he emphasised.

In his remark, the Commissioner for Innovation, Science and Technology, Dr. Lawrence Ezeh, said the Enugu Tech Festival, which would now become an annual event, underscored a paradigm shift from the old Enugu known for coal to one that has become a rising force in Nigeria’s tech-driven future, a beacon of innovation, intellectual capital, digital enterprise, and endless possibilities.

“For decades, our identity was built on coal, a resource that powered Nigeria’s industrial rise. But today, we stand in a different kind of power—the power of knowledge, innovation, and technology,” he stated.

Also at the event were the Minister of Youth Development, Ayodele Olawande; Speaker, Enugu State House of Assembly, Hon. Uchenna Ugwu; former Minister of Science and Technology, Prof. Barth Nnaji; Chairman of Zinox Technical, Leo Stan Ejeh; and the Group Managing Director, Afrinvest, Dr. Ike Chioke, among a host of others.

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