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A Third African Unicorn for 2021

Tech firm Andela, which matches software developers from Africa and other emerging markets with global clients, has become a unicorn after raising $200m in a Series E funding round led by Japan’s Softbank Group. With a $1.5bn valuation, the Nigerian startup joins Senegal’s Wave and Nigeria/US-based Flutterwave as the West African unicorns of 2021. The latest funding allows the company to invest further in its AI software which the company says makes hiring quicker and easier by providing millions of data points to guide companies on where an individual would be most successful. When the pandemic struck, hiring freezes left the Andela in the cold, but as companies came to the realisation that they had to turn to remote working, Andela and others capitalised.

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