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DraperDarkFlow ICOs Wary in Africa


BitPesa is a Kenyan company which was launched in 2013. The company also operates in Tanzania, Nigeria, Senegal, UK and Uganda. The company declared recently that it had acquired Spain-based online money transfer platform TransferZero. The deal will assist the company to expand its global operations.  Bitpesa’s two consecutive funding rounds in 2017 summed up to US$10 million mark. Its blockchains and digital currencies operation makes it to emerge as the African best Startup.

The ICOs (Initial Coin Offerings) is an online platform where companies issue, create and redeem digital tokens to help raise funds.

The current impact of ICOs in Africa is illustrated by the recent success of SureRemit by ProsperiProp and Wala raise. The system has gained momentum in Africa despite capital challenges in the continent.

According to Toro Orero, the managing partner of VC firm DraperDarkFlow in Africa, the company is fully aware of blockchain opportunities. During Africa Tech Summit Kigali last week, Orero emphasized that the company has implemented the Blockchain system.  Although there is still fear in investing via ICO, the initiative works well in the continent.  He added that the Blockchain will efficiently aid the operations in the industries through decentralization of the service delivery. He further noted that the power of Blockchain will result to automatic operation for all smart contract activities.

The Chief Operating Officer of BitPesa (COO), Charlene Chen, stated that the company is very proud of blockchain acquisition, an African firm acquiring a European company. BitPesa is now looking forward to extend is activities across Africa.  In addition to TransferZero acquisition, the company has already facilitated European company transfers.

DraperDarkFlow current focus is investment based on smart contract.


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Written by Denis Opudo

Am an engineer who's a tech blogger, hit me up on [email protected] and we base our discussion on technology in Africa and the rest of the world.
Denis the Tech guru

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