Andela is a $1.5 Billion Nigerian Unicorn

 Andela is a $1.5 Billion Nigerian Unicorn

Andela is a $1.5 Billion Nigerian Unicorn.

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Among its investors, SoftBank Group Corp., a Japanese technology investor, led the $200 million round raised, a startup that matches African software engineers with global companies.

With a valuation of $1.5 billion, Andela, which was founded in New York seven years ago, is the third Nigerian company to achieve unicorn status this year, following Flutterwave and OPay.

“This new round of funding enables Andela to expand its large network of talented software engineers across Africa and the globe in order to connect them with opportunities globally”, said Agnes Muthoni, director of the Andela Learning Community on Wednesday.

Training and outsourcing firm Generation Investment Management, co-founded by former U.S. vice president Albert Arnold Gore Jr., raised $100 million in a previous round of funding in January 2019.

With a global reach of about 80 countries, Jeremy Johnson, the leader and co-founder of the firm, hopes to expand its network by the end of the year to at least 100.

Before COVID-19 made headlines, the company’s footprint covered seven countries before its foundation was created by a group of Nigerian and Kenyan software engineers.

In a statement, Andela said Lydia Jett, founding partner of SoftBank Investment Advisers, would be joining its board.

Olumide Adesina

Olumide Adesina a France-born Nigerian, a Certified Investment Trader, with more than a decade of working expertise in Investment and Trading. He is also a reputable author and writer for CoinDesk and FxEmpire.

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