TLcom Capital Commits $40 million TIDE Africa Fund Support

TLcom Capital is the largest African data analytical company. The startup invested about $5million in Nigeria market, especially in the Terragon Group. The company is both a developer and a software data analyst in the continent. TLcom’s commitment is a partner of the company’s $40 million TIDE Africa Fund initiative. The program aims at upcoming, early and developed digital startups in developing countries.

According to Ido Sum the TLcom Capital Partner, the business developed via strong technology. He added that the initiative enables largest brands to advertise to consumers. The Lagos Company provides the continent’s wide consumer market. It uses integrated financial and telecommunication services attached to companies data.

Terragon’s software services enable advertisement companies to illicit socio-demographical information of consumers. The startup improves access to customers through SMS and video campaign strategist. It also helps in connecting the company and customers via online payments and sales platforms.

Elo Umeh, Terragon CEO pointed out that the company can track data from various channels. Some of the layers constitute of mobile, web and mobile money systems. The system occurs due to lack of legal regulation of data privacy in Nigeria. Ayodeji Balogun the Terragon CTO noted that there is a bill in parliament about the subject. The company is also trying to engage all stakeholders to create a distinct path.

Balogun noted Terragon’s internal control mechanisms. He added that the company incorporated detailed data governance to arrive at consumer security. The company spearheads implementation of the ISO/IEC 27001 information security standards.

So far, the company has about 100 staffs from Kenya, South Africa, Nigeria, and Ghana. Most of the company clients are NGOs, gaming, financial services, consumer goods and betting. Umeh added that the company is focused to connect clients with mobile subscribers in the continent. He noted that over the last 8 years, the company improves business in Africa. The current company revenue ranges from $(4-5) million dollars.

Consumer research in the continent is of 55% of informal business in Africa. The main facilitators include e-commerce, the growth of consumer spending and mobile penetration. Largest global companies constituting Euromonitor and Nielsen intensified their operations in Africa. For example, GeoPoll American Company built digital database in several parts of the continent. In partnership with Safaricom, mSurvey from Kenya in 2017 developed consumer wallet services.

Terragon company strategies include dominating African market and global expansion in Asia, America. The company also plans to launch interest generation mechanisms from potential advertisers.

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