The Flip

The Flip The Flip is a podcast exploring more contextually relevant insights from entrepreneurs changing the

Stablecoins just got a lot more useful 💳 Rain, the Stablecoin payments platform, has raised $58 million to fix what mig...
28/08/2025

Stablecoins just got a lot more useful 💳

Rain, the Stablecoin payments platform, has raised $58 million to fix what might be crypto's biggest everyday problem: you can't actually spend stablecoins like normal money.

The fintech company is essentially turning digital dollars into spendable cash by connecting them to Visa's global network. Think of it as the bridge between your crypto wallet and that coffee shop that definitely doesn't accept USDC.

The timing couldn't be better. With new regulations in the US and Europe giving stablecoins more legitimacy, Rain's infrastructure lets businesses issue cards that work anywhere Visa is accepted—funded by stablecoins instead of traditional bank accounts.

The company can now settle transactions 24/7, 365 days a year, compared to traditional banking's business-hours-only approach. And they've expanded to support major blockchain networks like Solana and Stellar, making it easier for partners to launch stablecoin-powered payment programs.

As Rain's CEO puts it: "Stablecoins are shifting to the backbone of global commerce." With hundreds of billions already in circulation, the missing piece was making them as easy to spend as the cash in your wallet.

25/08/2025

The “2 and 20” VC model wasn’t built for emerging markets.

$64.7 billion. That's how much was sent to Mexico in remittances last year. This massive flow of money represents mill...
25/08/2025

$64.7 billion. That's how much was sent to Mexico in remittances last year.

This massive flow of money represents millions of families in the US working multiple jobs, saving every dollar they can, and sending it home to parents, children, and communities across Mexico. For entire regions, these transfers mean survival, and the flow hit a new record high for the 11th consecutive year.

But here's what's broken: most of this vital flow still moves through systems designed decades ago. Systems that charge families when they can least afford it and make them wait days for money that's needed immediately.

The infrastructure treating this $64.7 billion lifeline like an inconvenience instead of recognizing it as one of the most important financial flows in the Western Hemisphere.

New digital solutions are starting to treat this flow with the respect it deserves. We're breaking down what's actually working in our new episode dropping soon.

This Nigerian food delivery startup just raised $9M. It’s already profitable in a sector where most fail to break even....
11/08/2025

This Nigerian food delivery startup just raised $9M.

It’s already profitable in a sector where most fail to break even.

Here’s how Chowdeck is rewriting the playbook for African logistics and quick commerce:

Thin margins and high logistics costs have made Food delivery in Africa brutal.

Global giants have pulled out of key markets.

But Chowdeck is scaling, profitable, and now has serious funding for expansion. The $9M Series A was led by Novastar Ventures, with Y Combinator and other global investors joining in, to turn Chowdeck into Africa’s #1 super app for food, groceries, and essentials.

Launched in October 2021, Chowdeck operates in 11 cities across Nigeria and Ghana. It serves 1.5M customers with 20,000+ riders (more than half of urban deliveries arrive by bicycle).

The growth numbers are wild:

In 2024, meal value grew 6× over the previous year. By July 2025, they’d already surpassed all of 2024’s volume.

Expansion into Ghana this May hit 1,000 daily orders in 3 months, without paid ads.
Chowdeck plans to reach 5,000 daily orders by September 2025.

With their next big move being quick commerce, they aim to establish 40 dark stores by the end of 2025, and 500 by 2026.

Two to three new openings every week.

Private capital is rewriting the script for Kenyan basketball. And Nairobi City Thunder is showing what’s possible with...
08/08/2025

Private capital is rewriting the script for Kenyan basketball.

And Nairobi City Thunder is showing what’s possible with the right backing.

Here’s how one investment deal unlocked a new era for the sport in Kenya:

In 2023, a group of investors led by Colin Rasmussen acquired the Nairobi City Thunder. A team with history, potential, and no professional structure.

The new owners injected money into the team and also introduced professionalism. Thunder became the first team in Kenya to offer full-time contracts to players. Athletes could now focus on the game instead of survival.

Next came the playbook for building culture and audience:

Hiring media personnel
Prioritizing fan engagement
Creating player-led storytelling

Players went from silent to spotlight, and fans responded. As a result, Thunder’s Instagram following exploded from 1,900 to 24,000+ in less than a year. Engagement metrics outpaced every BAL team except one. Their posts do numbers because they showcase people, not just scores.

Online engagement drove offline impact.

Thunder games now pack out Nyayo Stadium, complete with DJs, food vendors, and a vibe that keeps fans coming back.

But they didn’t stop there.

Thunder launched merch priced for fans (KES 2,500–5,000).
Then secured local sponsors: M-KOPA, Afrospor, Turaco, Winko Solar.

With revenue streams diversified, sustainability became real.

And the national impact has been massive too.

Uganda just pulled off something historic in global coffee. Its annual coffee export earnings have doubled to $2.2B in ...
07/08/2025

Uganda just pulled off something historic in global coffee.

Its annual coffee export earnings have doubled to $2.2B in one year.

Here’s how they beat Ethiopia to become Africa’s #1 coffee exporter:

Last year, Uganda made $1.14B from coffee. This year, it has doubled to $2.2B. A record-breaking leap in just 12 months. This is both a win for farmers and a seismic shift in Africa’s coffee economy.

Uganda now exports more coffee than Ethiopia.

In May 2025 alone, they shipped 47,606 tonnes worth $243M. This rise is altering the dynamics between African producers, such as Kenya, Tanzania, and Ethiopia.

So what caused this surge?

It wasn’t luck. It was a perfect storm of volume growth, price spikes, and smart long-term bets.

Let’s break it down.

1. More Coffee, More Money

Uganda shipped 462,000 tonnes of coffee this year. Up 25% from last year. More bags. More sales. But that’s just part of the story.

2. Global Prices Went Crazy

Arabica prices nearly doubled (from $6.37/kg to $11.42/kg). Robusta rose 33% in the same period. Uganda rode the wave at the perfect time.

3. Other Countries Faltered

Severe drought hit Brazil and Vietnam, two of the world’s biggest producers. With global supply down, Uganda filled the gap and reaped the benefits.

This isn’t a one-off success. Uganda aims to hit 20 million bags by 2030. With sustained investment, smart policy, and global demand, they just might.

Now, it’s starting to pay off with million-dollar momentum. Inside MLB’s growing pipeline of African talent and what co...
01/08/2025

Now, it’s starting to pay off with million-dollar momentum.

Inside MLB’s growing pipeline of African talent and what comes next:

In 2025, two signings made headlines:

Joseph Deng (South Sudan) signed with the LA Dodgers
Armstrong Muhoozi (Uganda) signed with the Pittsburgh Pirates

Together, they mark a new chapter in Africa’s baseball history.

Deng’s story is straight out of a movie.

A video of his 95-mph fastball went viral — and caught the Dodgers’ eye. He’s now the first South Sudanese player to sign with an MLB team.

Muhoozi’s path was years in the making. He attended a Dodgers tryout in Uganda at age 12. Then trained for four years at their academy — “The Complex.” In 2025, he signed with the Pirates with a $45,000 bonus.

Uganda has been building this pipeline for over two decades. It started in 2002 when an American volunteer launched a baseball league. That league grew into an official Dodgers development academy by 2019.

By 2022, it produced its first pro signees:

Ben Serunkuma, Umar Male, and David Matoma.

Matoma’s 92-mph fastball impressed scouts enough to fly his coach to the Pirates’ Dominican camp.

And it’s not just Uganda.

South Sudan is on the map, too. The MLB Draft League invited Ugandan catcher Dennis Kasumba in 2023.

The continent is becoming a legitimate scouting ground.

30/07/2025

Why are dollar-backed stablecoins exploding in volume?

Because the world runs on dollars, and not just for saving or investing (from trade to debt to FX). Over $33 trillion in stablecoins moved in the past year alone.

As emerging markets increase their share of global trade, the demand for dollar-backed stablecoins is expected to rise.

Keep watching to see what the data shows.

Remittance inflows hit nearly $100 billion in 2023.Now, OUI Capital projects Africa’s cross-border payments market will ...
27/05/2025

Remittance inflows hit nearly $100 billion in 2023.

Now, OUI Capital projects Africa’s cross-border payments market will reach $1 trillion by 2035.

Its new report explores how digital payments are powering this transformation:

Africa’s cross-border market is set to triple in a decade. From $329B in 2025 to $1T in 2035. That’s a 12% compound annual growth rate across remittances, trade, and B2B flows. Digital payments, not banks, are driving the momentum.

The old system—SWIFT networks, correspondent banks, high fees—is breaking under pressure. It’s slow, costly, and poorly suited to the continent’s low-value, high-frequency transactions. Fintechs and mobile money platforms are moving faster and cheaper.

For example, remittances of $100B flowed into Africa in 2023, accounting for 5.2% of the continent's GDP. Yet up to 75% of Sub-Saharan flows still bypass formal channels. Fees from traditional providers—7% to 10%—remain a major barrier.

Mobile money is changing that.

Over 781 million accounts processed $837B in 2022—two-thirds of global mobile money flows. Their fees are significantly lower, ranging from 1.5% to 3%.M-Pesa, MTN MoMo, and Airtel Money lead the charge. Together, they’ve captured 30% of Sub-Saharan Africa’s remittance volume.

And their networks are still growing at 48% annually.

Meanwhile, neobanks and digital wallets are pushing costs down even further. Platforms like Chipper Cash and Eversend charge just 3.5% on average. And they settle transactions in minutes, not days.

Crypto and blockchain are making the biggest dent in fees. Afriex and Bitnob offer near-zero-cost transfers with lightning-fast settlement. These rails skip banks altogether and are winning on price, speed, and access.

So what happens when the old rails break, new ones emerge, and the money keeps moving?

We sat down with two people building the future of cross-border payments in Africa.

Benjamin Fernandes of NALA and Dan Kleinbaum of GTXN unpack what’s broken—and what comes next.

Want to watch the full conversation?

Comment "OUI" and I'll personally send you the link.

A new approach to credit is taking shape in Africa.Carrot Credit recently raised $4.2M to power asset-backed lending acr...
23/05/2025

A new approach to credit is taking shape in Africa.

Carrot Credit recently raised $4.2M to power asset-backed lending across the continent.

Here’s what you need to know about the raise, the model, and their mission:

The seed round was led by MaC Venture Capital, with Partech Africa and Authentic Ventures also participating. Carrot joins a small group of African fintechs rethinking access to credit by building for the continent’s growing base of digital investors.

The Lagos-based startup launched in 2023 with a clear mission to let people borrow against their investments, without selling them or going through old-school credit checks. Stocks, crypto, bonds. If it’s digital and valuable, it’s usable.

Here’s how it works:

Carrot connects to investment platforms via API, verifies your holdings, places a lien on them, and gives you a loan. You keep your assets. You get liquidity. No selling. No paperwork.

Loan amounts depend on the asset type:

- Stocks: up to 40% of value
- Fixed income: up to 70%
- Crypto or volatile stocks: 10% max

Everything’s built to match risk with flexibility. And repayments are just as flexible. You can opt for a 3, 6, or 12-month loan, or repay monthly on your own terms. Carrot also claims to offer below-market interest rates, setting it apart in a crowded digital lending space.

Since launch, Carrot has:

∙ Processed over $2M in loans
∙ Onboarded more than 10,000 users
∙ Built integrations with brokerages and wealth platforms across Africa

All while positioning itself as the go-to credit layer for digital investors. But the model isn't new, Robinhood and BlockFi helped popularize it abroad. But in Africa, Carrot is among the first to make asset-backed credit accessible to retail users and fintech platforms alike.

CEO Bolu Aiki-Raji puts it simply:

“People were investing but didn’t recognise those assets as collateral. That was the insight. Why can’t we unlock credit from what people already have?”

As embedded finance grows in Africa, Carrot is betting big on a future where:

∙ Anyone with digital assets can access credit
∙ Fintechs plug into Carrot to offer seamless loans
∙ Credit isn’t a privilege, but infrastructure

Thndr Ű«Ű§Ù†ŰŻŰ± wants to make investing simple, accessible, and mobile-first.So the Egyptian startup recently raised $15.7M ...
21/05/2025

Thndr Ű«Ű§Ù†ŰŻŰ± wants to make investing simple, accessible, and mobile-first.

So the Egyptian startup recently raised $15.7M to expand across MENA.

Here’s how it plans to do that—from Cairo to Riyadh:

Thndr has secured a $15.7M round led by Prosus Ventures. Y Combinator, BECO, JIMCO, Raba, and Onsi Sawiris also joined the round. This brings the startup’s total funding to $37.76M since launching in 2020.

Thndr started with a simple but ambitious mission:

Make investing as easy as using your phone.

No minimums. No commissions. Access to stocks, bonds, mutual funds, and even gold—all in one app. The result? Over $3.4B in trades in 2024 alone. And more than 1M users, most of them first-time investors from outside Egypt’s major cities.

To expand its reach, Thndr launched two new products:

→ Thndr Alpha: A beginner-friendly, guided investing experience
→ ThndrX: A high-performance trading platform for advanced users

Two ends of the market. One app. Next stop: the Gulf.

Thndr recently acquired a Category 3A license from Abu Dhabi Global Market, allowing it to serve retail investors in the UAE. Now it’s setting its sights on Saudi Arabia.

But it's not just expanding geographically. Thndr has also applied for an asset management license in Egypt, aiming to offer local, proprietary investment products for everyday Egyptians.

Why this matters:

Across MENA, investing remains out of reach for most.
Thndr Ű«Ű§Ù†ŰŻŰ± ing after the 99%—not the 1%—with tools built for local realities and mobile-first behaviors.

This Egyptian startup just raised $15.7M to digitize car ownership.And it’s building a one-stop shop for Egypt’s $10B us...
20/05/2025

This Egyptian startup just raised $15.7M to digitize car ownership.

And it’s building a one-stop shop for Egypt’s $10B used car market.

Here’s how Sylndr is becoming the mobility backbone of Egypt:

Sylndr just closed a $15.7M round to scale its digital car platform. Led by Nclude (DPI), the round includes fresh equity and previously unannounced seed capital. It brings Sylndr’s total raised to over $30M since launching in 2021.

Egypt’s used car market is huge—but broken. Sales happen offline. Prices are opaque. Financing is a nightmare. Sylndr is fixing this by building infrastructure for buying, selling, financing, and servicing used cars in one app.

Their model started simple:

Buy used cars → refurbish → resell with warranty and money-back guarantee. But demand and fragmentation led to a much bigger play—digitizing the entire used car value chain.

Today, Sylndr operates three major verticals:

→ Swift: Fast, digital auto financing
→ Plus: Maintenance + inspections
→ Al-Ajans: Dealer marketplace with ownership and payment support

All integrated into one platform. The platform is growing fast too:

Revenue has grown 22x (in local currency) since 2022.
5x growth in USD terms despite the Egyptian pound losing half its value.

And the average car price on the platform? $20K–$25K.

So to keep scaling, Sylndr raised nearly $10M in local bank debt last year. It now serves 1,000+ dealers and splits revenue evenly between direct consumer sales and B2B. But the future lies in servicing and financing—expected to drive 60% of gross profit soon.

Why Egypt, not the Gulf?

With 6M+ cars on the road and a ban on used imports, Egypt’s used car market is massive—and completely local. Unlike others, Sylndr plans to go deep, not wide, betting on dominance at home.

With $15.7M in new funding and over $30M raised to date, Sylndr is rebuilding how Egypt moves.

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Introducing The Flip

My name is Justin Norman — I’m the producer and host of a new editorial-style podcast called The Flip. I’m also an American expat, who’s lived in Johannesburg, South Africa for the past two years.

In my pursuit of entrepreneurial endeavors on the continent, I learned very quickly that my “western” upbringing and experience left me not knowing much about operating in South Africa and beyond. My entrepreneurial education, aided and abetted by Silicon Valley-style thought leadership, was not contextually relevant for this market, its nuances or its complexities.

I needed a new frame of reference, which led me to conversations with practitioners across the continent, and those conversations turned into a podcast — The Flip.

The name The Flip comes from the opportunity to flip the script — to question some of the pervasive narratives on entrepreneurship and champion the entrepreneurs building a future inspired by Africa.