Tuesday, Oct 26, 2021

The Briefing: Senegal's Wave snags $200M, Quantum Machines picks up $50M, and More

Here’s what you need to know today in startup and venture news, updated by the Crunchbase News staff throughout the day to keep you in the know..

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Here’s what you need to know today in startup and venture news, updated by the Crunchbase News staff throughout the day to keep you in the know.

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Senegal’s Wave lands $200M for mobile money platform

Wave, a Senegal-based provider of a mobile money platform targeting countries in sub-Saharan Africa, raised $200 million in a Series A funding round led by Sequoia Heritage, Founders Fund, Stripe and Ribbit Capital.

The round is the largest ever Series A round for the region, per TechCrunch reporting, and sets a valuation for Wave around $1.7 billion. The startup is a spinout of Sendwave, an app-based company focused on cross-border payments.

Quantum Machines picks up $50M

Tel Aviv-based Quantum Machines, developer of an orchestration platform for quantum processors, raised $50 million in a Series B round led by Red Dot Capital Partners. The company, founded in 2018, said it has tripled its staff over the past 12 months.

Public offerings

ForgeRock sets IPO terms: San Francisco-based ForgeRock, provider of an online identity management platform for enterprises, disclosed terms for its upcoming IPO. The company plans to raise $248 million in the offering, seeking to sell shares at a price range of $21 to $24. At the midpoint of the proposed range, ForgeRock would be valued around $2.1 billion.

— Joanna Glasner

Illustration: Dom Guzman



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By: Crunchbase News
Title: The Briefing: Senegal’s Wave Snags $200M, Quantum Machines Picks Up $50M, And More
Sourced From: news.crunchbase.com/news/briefing-9-7-21/
Published Date: Tue, 07 Sep 2021 13:14:28 +0000

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