(MENAFN- EIN Presswire)
Disruptive Informal Sector in Africa
TurningIdeas Ventures today announced technology investment in African financial inclusion of informal sector startup Roque Online.
Geraldine Geraldo, CEO Roque Online stated that,“the partnership with TurningIdeas is significant, not only for Roque Online as a company, but it also helps to de-risk Angola for tech investment.” — Geraldine GeraldoDELHI, INDIA, December 9, 2021 /EINPresswire.com / -- TurningIdeas bets on Africa Financial Inclusion startup Roque Online
TurningIdeas Ventures today announced technology investment in African financial inclusion of informal sector startup Roque Online. This was the first angel round after the founders invested their own capital in the seed round. TurningIdeas will pick up the cost of development of the technology platform for the venture and help scale Roque Online in other emerging markets.
Roque Online is an Angolan inclusive marketplace that serves as a trading platform for large distributors, informal market vendors, farmers and other players in the retail value chain; facilitating trade between business-to-business and business-to-consumer and connecting consumers to skilled professionals and other service providers. Trading approximately 2,400 products and having delivered 1.2 million Angolan products locally and globally, Roque Online has created an exchange that can host a network of varying transactions through an interface of multiple parties.
The TurningIdeas and Roque Online venture provides the technology to make these transactions available to a diverse pool of lenders, both in Angola and globally. The Roque-to-Rural Exchange, a new feature in the platform, enables the financing and connectivity of millions of farmers. It also acts as a Data Service Advertising Technology.
Talking about the partnership, Mr.Venu Gopal, Vice President Technology for TurningIdeas and incoming Chief Technology Officer for Roque Online, said that Transforming informal markets digitally is a key requirement not only in India but also internationally. We have been looking to partner and invest in global startups in emerging countries who have problems similar to India.
Geraldine Geraldo, CEO Roque Online stated that,“the partnership with TurningIdeas is significant, not only for Roque Online as a company, but it also helps to de-risk Angola for tech investment. Specifically for Roque Online, we are excited to transition to the next phase which will allow us to scale, accelerate inclusion and value creation for our key stakeholders in the informal sector and agricultural sector, through a range of tech services and local sales and exports.”
TurningIdeas also executes soft-landing programs for the global startup ecosystem to explore and set up the business in India by helping them do the market assessment, connect them with the right ecosystem and prospect customers in India's 100B people opportunity. Speaking on the announcement, Mansi Gupta, Head Global Programs at TurningIdeas said that we see a lot of potential in African startups as that ecosystem is similar to India for solving developing nation issues and we are keen to help such startups scale globally.
With this fund raise, Roque Online is also planning to act as a Data Service provider, Advertise products and services in numerous portals and extend technology services to the informal market through plugins for African marketplaces and white label solutions.
Mansi Gupta
TurningIdeas Ventures
+91 99995 36692
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