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STARTUPSYoung Business Leaders

German fintech Tilta bags €30M to address the working capital gap in B2B transactions

by Alex Turner
written by Alex Turner

Berlin fintech business Tilta received a €30 million loan facility from Fasanara Capital. It plans to use the financing arrangement to bridge B2B working capital gaps.

The fintech company can finance €250 million in B2B transactions annually with the debt facility.

Tilta looks forward to helping customers and sellers get paid immediately and risk-free.

“We are thrilled to partner with Fasanara to provide access to a previously inaccessible asset class of short-term, small ticket, and highly liquid B2B receivables,” says Tilta co-founder Christoph Nicola

Fasanara Capital CEO Francesco Filia says, “In today’s challenging macroeconomic environment, in-context financing solutions that can support the transition of B2B transactions from offline to online and solve the inherent working capital gap are essential”.

Filia says Fasanara is impressed with the Tilta Team’s tech-driven white-label approach to embedded credit risk assessment and business transaction financing and advancement.

“We are happy to partner with them in closing the working capital gap for SMEs in online business transactions,” he says.

The firm raised €4M in startup funding in May 2023.

The €1.1T European B2B market is currently too unrefined for such markets. Businesses and clients still transact via phone, fax, or sales meetings. These behaviors squander money and time.

Rising interest rates and inflation exacerbate these difficulties. This causes additional payment delays and longer durations.

As operating cash flows dwindled, banks curtailed credit to European SMEs.

“With 1 in 4 businesses closing due to liquidity constraints, the working capital gap remains the biggest challenge for European SMEs,” Nicola explains.

Tilta helps B2B and SME marketplaces. Credit-backed payment infrastructure is Tilta’s solution. The technology lets B2B merchants and marketplaces offer in-context purchase financing.

Transaction process features include legislative framework, money access, seamless working technology, and risk hedging.

Businesses ordering online can have clear individual credit lines with the infrastructure. The infrastructure allows installment payments over 30, 60, or 90 days.
Tilta’s white-label solution covers transaction aspects with one API integration.

The marketplace vendors receive their risk-free sales revenues immediately.

Customers get more value from marketplaces. Marketplaces can expand their revenue streams by selling financial services.

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FAILURES & SUCCESSESStartup SuccessesYoung Business Leaders

Once Homeless, This Black Entrepreneur Owns a $20 Million Trucking Company.

by Ethan Carter
written by Ethan Carter

Amari Ruff, 34, had a challenging upbringing. He juggled employment and school as a teen while moving between homeless shelters to support his mother. However, he now has a multimillion-dollar trucking business called Sudu that links small business owners with enormous corporations like Walmart and UPS.

Modest beginnings

Ultimately, he got a job with a company and started negotiating significant business contracts. He assisted in the company’s expansion to $4.5 million in annual revenue but was demoted from the better position he had been promised. He claimed he wasn’t expecting it, and it was a depressing time, but this inspired him to succeed as an entrepreneur.

Beginning at the base

His military father abandoned his mother to raise him and his two brothers when he was 16. They resided in shelters for people experiencing homelessness, and Amari once had to travel more than four hours each way to continue attending high school and working.

In 2010, Amari decided to launch a communications business with just $300 and a 1990 Ford Ranger. However, he soon expanded it to five U.S. locations and approximately 200 trucks. While doing so, he also saw wider chances to establish a tech business linking underrepresented businesspeople (minorities, women, and veterans) with larger corporations. He subsequently created his own company to fill the need.

He founded Sudu 2015, an online marketplace that uses technology to link major shipping businesses with small and medium-sized trucking companies, which account for 90% of the transportation sector. Because of the speed and efficiency they offer the business with their technology, referred to as “Uber” for truckers, he claims he chose Sudu, a Chinese word that signifies speed and tempo.

Finally, there was Acknowledgement.

Amari’s brilliance made him a sought-after speaker at worldwide tech and business conferences. He was asked to speak at the Build Your Brand conference and retreat and the Nelson Mandela Fellows Panel.

He also began to receive significant honors, like the 2016 NMTA Minority Business of the Year, the 2017 Georgia Trend Magazine Trendsetter, and the 2018 Atlanta Business Chronicle InnoVenture Award. Even the Venture Atlanta Top 10 Startups to Watch list featured him.

In just three years, his Atlanta, Georgia-based company, Sudu, expanded to include more than 300,000 trucking firms in its network, focusing on minority, female, and veteran-owned firms. He has also negotiated with significant businesses like Walmart, P&G, Delta Airlines, Anheuser-Busch, Georgia Pacific, and UPS.

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BUSINESSBusiness PlanningLeadership and ManagementStartup Successes

Rapper Akon is Building a Black-Owned Futuristic City With Its Cryptocurrency

by Sophia Nguyen
written by Sophia Nguyen

Akon, a Grammy-nominated, multi-platinum-selling artist and philanthropist, is constructing a pioneering, entirely cryptocurrency-based city in Senegal, West Africa, where his digital cash currency, AKoin, will be the only means of exchange. Only 5 minutes away from the nation’s brand-new international airport, President Macky Sall of Senegal gave him 2,000 acres of land to build the cutting-edge city. Black leaders have been discussing building their communities and economies for years, and now Akon is finally stepping up to the task.

The Issue

Young African entrepreneurs experience significant challenges when starting and growing their businesses—issues that have historically impeded sustained success. They also encounter similar challenges that prevent successful entry and acceptance of foreign businesses on the continent.

Despite the advancements in smartphone and internet technologies, most Africans under 25 still have limited access to global innovation and possibilities. African entrepreneurs’ main problems are the absence of financial facilities, inflation, and unstable currencies. Difficulties hamper growth in trade and money movement, and there is an urgent need for access to chances for earning money.

The Answer

By developing a stable currency and cutting-edge, profit-generating opportunities that encourage and support youth entrepreneurship, economic stability, and growth throughout Africa and the rest of the world, the AKoin Ecosystem helps the world’s greatest rising economy realize its full potential.

Akon, who has Senegalese ancestry, says: “I think that blockchain and crypto could be the savior for Africa in many ways because it gives the power back to the people and restores security to the currency system, and it also allows the people to use it in ways that they can advance themselves and not allow the government to do those things that are keeping them down.”

Not his first original thought

Akon has long been a leader in social change and a visionary. He successfully established and expanded Akon Lighting Africa in 2014 to offer scalable solar power solutions throughout 18 nations in Africa as of this writing. One hundred thousand solar street lamps have already been produced as part of that project, which aims to provide electricity to 600 million Africans.

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BUSINESSSTARTUPSYoung Business LeadersYOUNG ENTREPRENEURS

Meet the Youngest Black Woman to Formulate an All-Natural, Organic Hair Growth Oil.

by Alex Turner
written by Alex Turner

Mariah Lovemore, a Cincinnati, Ohio-based African-American cosmetologist, was only 27 years old when she started studying how to produce a hair growth solution for men and women with natural hairstyles.

Her target audience was those who wore their hair in natural styles. It took her seven years, but she has finally cracked the code after trying so hard to figure it out. And today, at 34, she is one of the first Black women in the nation and the only one in the world to have discovered an all-natural, organic hair growth solution that works.

Her specialty product is called Naija Growth Elixir, and it helps cure alopecia, postpartum hair loss, and dandruff while also making natural hair more manageable, smoother, and shinier.

This helps natural hair keep its length longer and encourages growth in places where it has been lost. Her cutting-edge recipe does all of this without leaving a greasy residue on the natural hair or the scalp of the person using it. People of African heritage now have the hope and the bravery to wear their hair confidently, all while enjoying the stimulating and energizing perfume it exudes.

Mariah claims that she was born with an entrepreneurial spirit, including enthusiasm, creativity, self-assurance, motivation, optimism, resilience, and decision-making.

She implies there is more to “her motto from the source of healing” than meets the surface. Her strong sense of community has propelled her to reach out to and assist those struggling with suicidal thoughts and despair due to the epidemic using music and inspiration gleaned from Puerto Rico, Mexico, and farther afield.

She is a skilled cosmetologist, and as such, she pays special attention to the requirements of her customers and carefully selects the components required to resolve and improve their appearance. The Naija Growth Elixir, her most recent innovative product, is a high-quality oil combination kept in a one-of-a-kind ombre glass container with essential oils.

She states: “I spent seven years researching this project, and I was able to give some of my clients prototypes of my hair oil.” Their supportive comments and responses encouraged and inspired me, and they convinced me that I had successfully produced a product that would be profitable.

After concluding that she was finally prepared to launch her business, she came up with the company name “Naija By Lovemore.” She settled on the “Naija Growth Elixir” moniker for her first marketplace offering.

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Startup SuccessesYoung Business Leaders

19-Year-Old Makes History With Her Mom, Opens Newest Black-Owned Wing Spot in Houston Area

by Alex Turner
written by Alex Turner

A recent Shark Tank contestant named Tyla-Simone Crayton will soon establish the first Sienna Wings restaurant at Harvest Market in Missouri City, Texas, roughly 20 miles outside Houston. Tyla-Simone, who is just 19 years old, is also the creator of Sienna Sauce, a Black-owned national condiments company. But Sienna Wings was created in 2017, the same year she and her mother started selling wings every Friday from their house. The outstanding reaction inspired them to create a Wing Spot restaurant in their neighborhood.

I want to share it with as many people as possible because it’s wonderful when people try our wings for the first time and fall in love with them, said Tyla-Simone. “I also want to inspire other young people to pursue their ambitions. One of the first retailers to sell Sienna Sauce was Harvest Market, and the neighborhood has been supportive of us from the start.

It’s a full circle moment for me, and we must keep our beginnings in mind in this neighborhood here in our town.
Customers can anticipate a fast-casual dining experience with indoor and outdoor seating and the option to eat in or take away orders. All four of Sienna Sauce’s famous flavors, including Lemon Pepper, Sweet & Tangy, Smokey Brown, and Spice It Up, will be on the menu as wings. The menu offers kids’ chicken bits, fries, and macaroni & cheese as side dishes.

About the Founder

Tyla-Simone Crayton is the CEO of Sienna Sauce and a full-time student in UC Berkeley’s Haas undergraduate business department. She is the first person to ever receive a Pinnacle Award from the Greater Houston Black Chamber of Commerce for Youth Entrepreneurship, a Certificate of Congressional Recognition from Congresswoman Sheila Jackson Lee, a Proclamation from Houston Mayor Sylvester Turner, and a Judge of Fort Bend County Proclamation for her accomplishments and achievements in entrepreneurship, among other awards. Underneath all these honors and CEO accomplishments, Tyla-Simone is enthusiastic about giving back to her community.

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Entrepreneurial MindsetYoung Business LeadersYOUNG ENTREPRENEURS

Young Black Entrepreneur, 12-Year-Old Boy, Juggling School and Owning a Food Truck Business

by Alex Turner
written by Alex Turner

Meet 12-year-old African-American Mario Mack, the young businessman behind J’s Pop-Up Shaved Ice. Mario is from Fairfield, Alabama. Beginning when he was just ten, he set out on a mission to realize his entrepreneurial ambition while continuing his academic pursuits.

From the beginning, Mario was determined to be successful like his mother, since she encouraged his independence and prepared the road for him.
“She really liked working for herself, and I saw that, like, early on when she started, and I thought it was cool,” Mario told CBS42. So, I decided to build a food truck and do things independently.

Two years later, he purchased his trailer. He’s now on a quest to grow and level up his company by acquiring a bigger one. This young businessman is saving money for the big move.

His path involves Urban Impact Birmingham, an organization that supports young entrepreneurs like Mario. According to Courtney Craig, their program manager, they are committed to giving opportunities to all entrepreneurs. They’re committed to encouraging entrepreneurship in the community, particularly among young people, who have been starting businesses more often recently via programs and financing availability.

“It’s essential. According to Courtney, when helping businesses and ensuring that our children are engaged in constructive activities, our community has to adopt a wraparound strategy.

Mario’s company is more than simply a side job; it’s his passion. Despite being young, he is already fulfilling his business aspirations. He also has clear goals for the future, stating, “I want to own my restaurant and be able to cook.”

But Mario wants to motivate other young people; his goals go beyond his own. He passionately believes that everything is achievable with enough willpower. He is a wonderful example of bringing passion to life.

Mario also makes the most of his time by juggling work during the week and operating his company on the weekends. He also has a generous nature and often shops in Birmingham parks. He offers free shaved ice to people experiencing homelessness at least once a month.

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STARTUPSYoung Business LeadersYOUNG ENTREPRENEURS

Founder of Black-Owned Tech Startup Launches Online Service For Mentoring and Therapy

by Alex Turner
written by Alex Turner

Meet Emery M. McClendon, Esq., an accomplished inventor, lawyer, and the brains behind the groundbreaking Black-owned tech business The Odd Pro (T.O.P. ), offering people a comprehensive support network to foster personal and professional development. The company is committed to giving individuals the tools to overcome obstacles and accomplish their objectives.

For just $25 a month, T.O.P. provides a special membership experience that gives members access to a variety of excellent advantages aimed at enhancing many facets of their lives:

Dr. Ish, a well-known T.V. personality best known for appearing on The Doctors, The Today Show, and Marriage Boot Camp: Reality Stars, will conduct weekly counseling sessions for members. Dr. Ish provides knowledgeable direction and assistance for emotional health and personal development.

Benefits of Mentoring Videos: The 24/7 Mentoring Video Benefits provide insightful information and the chance to study quickly. The curriculum gives participants the tools they need to succeed in various facets of life by covering a broad range of personal and professional development themes.

Networking opportunities: Members may participate in thrilling weekly game shows that broaden their networks and allow them to win money and prizes. These engaging seminars aim to promote connections and create long-lasting partnerships.

Exclusive Savings: T.O.P. unlocks exclusive discounts of up to 50% off at more than 1 million merchants, including vehicle rentals, travel, lodging, dining, amusement parks, and more. These reductions aim to increase the affordability and pleasure of all aspects of living.

24/7 Travel Concierge: A committed customer support staff is on call 24 hours a day to help members with their travel arrangements. The travel concierge offers professional advice and assistance to guarantee flawless travel experiences, from flights to lodgings.

Emergency Resources: T.O.P. provides various emergency resources to help members get through uncertain times. When confronted with uncertainty, the support network offers aid and direction to help people overcome obstacles.

Emery claims that to create his multi-million-dollar innovation, PHamily Hair Care, he took inspiration from his personal experience of overcoming challenges. He founded T.O.P., which offers a special fusion of advice and resources out of his dedication to assisting others on their personal and professional journeys.

Emery said the Odd Pro is a full support system that allows people to access professional advice, priceless resources, and a network of like-minded people. “Our mission is to empower people to confidently navigate obstacles and pursue their goals.”

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Startup SuccessesSTARTUPS

Female founder-led climate fintech startup Opna raises €6M led by Atomico.

by Alex Turner
written by Alex Turner

In a transformative move that’s set to reshape the landscape of data integration, Opna has successfully raised $6 million in a recent funding round. This significant investment is poised to catapult Opna to new heights and solidify its position as a trailblazer in data integration solutions.

The Rise of Open: A Pioneering Force in Data Integration

Unleashing the Potential of Data

Opna, a company at the forefront of data integration, is changing how businesses harness their data’s power. With data becoming increasingly critical for decision-making in today’s fast-paced digital era, Opna offers innovative solutions that empower organizations to unlock the full potential of their data assets.

Seamlessly Connecting Data Sources

Opna’s proprietary platform is designed to connect data sources from various silos within an organization seamlessly. Whether it’s customer data, sales metrics, or operational statistics, Opna’s intuitive technology effortlessly integrates and harmonizes this disparate information, providing organizations with a unified and comprehensive view of their data ecosystem.

Data Integration Simplified

Gone are the days of grappling with complex data integration processes. Opna simplifies data integration through its user-friendly interface and cutting-edge algorithms, reducing the time and effort required to connect and analyze data. This streamlining of operations translates into substantial cost savings for businesses.

The Funding Round that Spells Success

Securing $6 Million in Investment

Top-tier investors led Opna’s most recent funding round, contributing $6 million to the business. This infusion of capital will accelerate Opna’s growth trajectory and expand its reach across industries.

Fueling Innovation

The investment will be channeled into further enhancing Opna’s technology stack. This includes developing advanced features, expanding compatibility with a wider range of data sources, and bolstering security measures to ensure the utmost data protection.

The Vision Ahead

Opna’s vision extends beyond just data integration; it’s about empowering businesses to make data-driven decisions. This funding round paves the way for Opna to continue innovating and delivering groundbreaking solutions that drive success for its clients.

Opna’s Competitive Edge

Cutting-Edge Technology

Opna’s competitive advantage lies in its cutting-edge technology. With a focus on automation and machine learning, Opna’s platform adapts to evolving data landscapes, ensuring that businesses always have access to the most up-to-date and relevant information.

Scalability and Customization

Opna’s platform is highly scalable and customizable, catering to each organization’s unique needs. Whether you’re a small startup or a global enterprise, Opna’s solutions can be tailored to fit your requirements seamlessly.

Data Security and Compliance

In today’s world, data security and compliance are paramount. Opna takes this responsibility seriously, implementing robust security protocols and ensuring compliance with industry standards and regulations.

Conclusion: Opna’s Journey to Dominance

Opna’s remarkable achievement in securing $6 million in funding is a testament to its unwavering commitment to revolutionizing data integration. With its cutting-edge technology, unwavering dedication to data security, and a clear vision for the future, Opna is poised to surpass competitors and become the go-to choice for businesses seeking to harness the full potential of their data.

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Startup SuccessesSTARTUPS

UK-based United Robots unveils AI-powered industrial cleaning robots for large, crowded spaces.

by Alex Turner
written by Alex Turner

In an era where technology continually reshapes industries, a Swedish startup, United Robots, is making significant waves in industrial cleaning. Their cutting-edge robots are redefining efficiency, sustainability, and safety in a sector that has long needed innovation.

The Birth of United Robots

United Robots emerged in 2018 as a visionary response to the challenges faced by industries that require extensive cleaning and maintenance. The brainchild of a team of engineers and roboticists, the company aimed to create autonomous robots capable of performing the most demanding cleaning tasks in industrial environments.

The Robotic Workforce

State-of-the-Art Technology

United Robots’ flagship technology is nothing short of remarkable. Their robots have advanced sensors, artificial intelligence, and cutting-edge cleaning tools. These machines are designed to excel in challenging environments where human labor can be hazardous or inefficient.

Efficiency Beyond Compare

One of the primary advantages of these robots is their unparalleled efficiency. They work tirelessly around the clock, executing cleaning tasks precisely and consistently. Unlike human workers who require breaks and shifts, these robots can operate 24/7, ensuring a cleaner and safer industrial environment.

Safety First

Safety is paramount in industrial settings, and United Robots’ technology places it at the forefront. These robots are equipped with sensors that allow them to detect and respond to obstacles, ensuring they can navigate complex spaces without causing harm to themselves or others.

The Environmental Impact

Sustainability Redefined

In an age where sustainability is a global priority, United Robots has made conscious efforts to minimize the environmental footprint of industrial cleaning. Their robots are designed to use eco-friendly cleaning agents and reduce waste, contributing to a greener future.

Energy Efficiency

These robots are not only efficient in their cleaning tasks but also in their energy consumption. Their intelligent systems optimize energy usage, reducing companies’ costs while decreasing their carbon footprint.

Transforming Industries

Versatility

United Robots’ technology isn’t limited to one industry. Their robots can be customized to suit various industrial sectors, including manufacturing, logistics, and food processing. This adaptability ensures that the benefits of automation can be harnessed across a wide range of businesses.

Cost-Efficiency

Investing in United Robots’ technology translates into long-term cost savings. While the initial investment may seem significant, the reduced labor costs, enhanced efficiency, and extended equipment lifespan provide a compelling return on investment.

The Future of Industrial Cleaning

As United Robots continues to evolve and innovate, it’s clear that their presence in the industrial cleaning sector is here to stay. Their robots are revolutionizing how industries approach cleanliness, safety, and sustainability. With a focus on efficiency, safety, and environmental responsibility, United Robots is at the forefront of a cleaner and more sustainable industrial future.

In conclusion, United Robots’ industrial cleaning robots represent a remarkable step forward in industrial maintenance. Their cutting-edge technology promises to transform industries while promoting safety and sustainability. As the world embraces the era of automation, United Robots stands as a prime example of how innovation can revolutionize traditional practices.

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Young Business Leaders

16-Year-Old Black Teen With 3 Degrees Becomes America’s Youngest Full-Time Teacher

by Ava Robinson
written by Ava Robinson

Oklahoma City, Oklahoma, native Shania Muhammad, 16, has earned three degrees from prestigious universities and is now the youngest full-time paid teacher in the United States. She has a job teaching third grade at a local school.

Some people feel she’s too young, but Shania has already demonstrated she’s more than capable of doing the job. She attended Oklahoma City Community College and Langston University at the tender age of 14 and now possesses a bachelor’s degree in Early Child Development and two associate degrees. In addition, she has spent two years in the Thurgood Marshall Foundation’s National Teachers Professional Development Program.
Despite her extensive experience and accomplishments, she has always wanted to be a teacher.

Elijah, her father, says, “I’m very proud of my daughter for having the courage to follow her beliefs and live out her mission in the world. She doesn’t let others’ judgments of her stand in the way of pursuing her goals.

People will always have criticism and nasty things to say, but we are accustomed to it,” he said on Facebook recently. And no one’s naysaying has stopped our family from creating history.

“It is a privilege and honor to be this young lady’s mentor, helping and guiding her teaching journey,” said Charitta Smith, director of Young Achievers Christian Academy, where Shania works. It’s almost the end of the first week, and I already have to praise her excellent work with the third graders.

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