The Big Cabal Media Joins the Big Boys, Secures N954.5 Million Funding
- A media outfit, The Big Cabal has secure a pre-seed funding to the tune of N954.5 million to expand across Africa
- The funding was led by series of investors like Mac Venture Capital, Luminate, Unicorn Group Future Africa and other investors
- The company's CEO, Tomiwa Aladekomo said there are evidences to show that most media houses claim to pay competitive remuneration but The Big Cabal is breaking the norm
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The Big Cabal Media has been handed over N900 million in seed funding to expand its reach.
The funding was led by Mac Venture Capital, Luminate, Unicorn Group, Future Africa and other investors.
Source: UGC
The latest funding brings the overall funding to N1.2 billion. The company had raised N257 million from both angel and pre-seed rounds between 2016 and 2020, the Nairametrics report says.
The startup stated that it plans to expand its product, serve its staff and clients with the latest funding.
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What the cabal is saying
The CEO of the Tech Cabal, Tomiwa Aladekomo said documented reports and experience show that many people who work for media firms are given a competitive salary and that the company would like to break the norm.
According to him, the company model has been tried and proven to be effective as it quadrupled its 2020 revenue and in the last four years, has grown by 225 per cent.
He said:
“We are expanding our video production by exploring docuseries and short films. We will be transforming our studio into a community hub for creatives, and introducing 3 new tech products, including the Zikoko app and Zikoko Memes 2.0, which first launched in 2020. We will also be building out new audiences while offering competitive wages.”
The company was established by Bankole Oluwfemi in 2013 to cove the tech ecosystem in Nigeria and expanded to all of Africa.
Moove secures N43.5 billion funding to Scale across Africa
Legit.ng has reported that Nigeria-based Africa mobility fintech firm, Moove has secured over N43 billion in new funding to give vehicle financing to drivers of ride-hail companies like Uber and gig networks in seven new frontiers across the Middle East, Africa, Asia and Europe in the next six months.
This comes after the startup got N4.15 billion in February and another N9.5 billion in August 2021 last year.
The company stated that the funds will give its freelancers in other vehicle categories like tricycles and buses the needed leverage to accelerate the businesses.
Source: Legit.ng
