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Nairaland Forum / Nairaland / General / Investment / Ghanaian Fintech, Dash, Shuts Down After Raising $86.1 Million In 5 Years (23340 Views)
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Re: Ghanaian Fintech, Dash, Shuts Down After Raising $86.1 Million In 5 Years by FreeLine: 10:13pm On Oct 06, 2023 |
Be wary of African Fintechs run by Africans. This is the same path PATRICIA is treading. |
Re: Ghanaian Fintech, Dash, Shuts Down After Raising $86.1 Million In 5 Years by 12inchess: 10:13pm On Oct 06, 2023 |
Stop placing your life savings with startup fintech companies that are not backed financially by the federal govt reserves. But una no go hear word. I cant stop imagining this Ghanian Tech CEO bedding one of his GEN Z employees with his newly pregnant wife at home while collecting his cool 50k dollars salary and 8 million dollar pay out which he has used to buy a house in San Francisco. And yelling "puh it wherever you want to puh it" "you think you can bully me" "get the f out of my office" to the customers that he is owing. 2 Likes |
Re: Ghanaian Fintech, Dash, Shuts Down After Raising $86.1 Million In 5 Years by drimzsmoke(m): 10:15pm On Oct 06, 2023 |
inoki247: |
Re: Ghanaian Fintech, Dash, Shuts Down After Raising $86.1 Million In 5 Years by TheBTCinvestor: 10:18pm On Oct 06, 2023 |
OkayDaddy: ..my papa beg who? Lmao.....poverty stricken illetrate..if I committed any fraud then how come i now work with one of the best government institutions ..Im very successful and I'm doing fine with life but u are commenting from a dingy face me i face u apartment..hahaha..now go and get rope and hang ur self.. ahahH |
Re: Ghanaian Fintech, Dash, Shuts Down After Raising $86.1 Million In 5 Years by benardtotti(m): 10:27pm On Oct 06, 2023 |
SoNature: My brother the thing tire me ! A lot of black people don't understand delayed gratification or building long term , another issue is many of these tech guys are just advanced yahoo boys . 1 Like |
Re: Ghanaian Fintech, Dash, Shuts Down After Raising $86.1 Million In 5 Years by alfredfrddy(m): 11:02pm On Oct 06, 2023 |
African and untimely enjoyment. May buga not consume us. We just want everyone to believe we have hammered or blowed. We are mad in Africa. |
Re: Ghanaian Fintech, Dash, Shuts Down After Raising $86.1 Million In 5 Years by akinade28(f): 12:41am On Oct 07, 2023 |
dalaman:Some venture capitalist see Investment as betting. Losing is part of the game. When they are lucky, they win big and cash out big time. This covers up for their past losses. |
Re: Ghanaian Fintech, Dash, Shuts Down After Raising $86.1 Million In 5 Years by SavageResponse(m): 12:59am On Oct 07, 2023 |
kajog: Don't mind the idiots, that's how one raised capital from investors then started paying himself salary of $15,000 per month from money that was supposed to be used as working capital for the new business |
Re: Ghanaian Fintech, Dash, Shuts Down After Raising $86.1 Million In 5 Years by saxj(m): 2:05am On Oct 07, 2023 |
Stephench: Keep quiet oga!. you know nothing for saying this rubbish. you just open your mouth waaaaaaaah! and out of the abundance of words came forth this rubbish. Wherever you learnt project management from, go back and unlearn it. you just wasted your time. $15K in a useless Economy is huge money. Even here abroad, Founders pay themselves with stock benefit of the company which makes you so interested and passionate in growing the company. The founders are the last and underpaid until your company reaches an MRR or ARR that is considered break even or profitable. 4 Likes 2 Shares |
Re: Ghanaian Fintech, Dash, Shuts Down After Raising $86.1 Million In 5 Years by YoshihideSuga: 2:40am On Oct 07, 2023 |
Ofodirinwa: Nowhere in the world do you pay yourself such humongous amount of salary per month for a company that is yet to break even, let alone generate profits. 1 Like 1 Share |
Re: Ghanaian Fintech, Dash, Shuts Down After Raising $86.1 Million In 5 Years by Basiljoe: 4:13am On Oct 07, 2023 |
yusufu16:Don't generalize. Not all, we have some doing well for themselves. |
Re: Ghanaian Fintech, Dash, Shuts Down After Raising $86.1 Million In 5 Years by CooldipoMPS: 4:24am On Oct 07, 2023 |
I hope others will learn from where this one failed |
Re: Ghanaian Fintech, Dash, Shuts Down After Raising $86.1 Million In 5 Years by Nobody: 6:03am On Oct 07, 2023 |
Paraman:He's just callously wicked, plainly put. |
Re: Ghanaian Fintech, Dash, Shuts Down After Raising $86.1 Million In 5 Years by TheSuperX(m): 6:08am On Oct 07, 2023 |
Paraman:Him earning $600k per annum is nothing since he's the founder and head. The problem is that he was too greedy, he even had to divert millions of dollars for his own personal use. Africans and crookedness, this is why we don't go far like the whites. |
Re: Ghanaian Fintech, Dash, Shuts Down After Raising $86.1 Million In 5 Years by DARLINGTON869(m): 6:13am On Oct 07, 2023 |
Be like say fintechs wan dey turn Ponzi scheme for investors now |
Re: Ghanaian Fintech, Dash, Shuts Down After Raising $86.1 Million In 5 Years by Reference(m): 6:46am On Oct 07, 2023 |
Nothing innovative that creates real value. Just money mongering and high budget zone 4 dollar type buccaneers. Why will it last when the next and bigger pirate pursues after them. In my opinion the model for Africa's development, the model that developed the West in the 19th and 20th century and the East over the past half century is the cheap and efficient producttion of tangible goods, period. Making things with our hands is the way out of poverty. It is dignifying, it is mentally stimulating and it regulates and moderates the greed and avarice pervading African societies. It is the only way to create a viable and sustainable middle class and bring mass populations out of poverty. IT will remain a vehicle, an aid, a means, but never the destination or the end chapter in the story of development. People often cite India's tech sector as an example of a country leveraging heavily on bits and bytes, but they fail to see the giant strides in manufacturing, agriculture, petroleum and other sectors where India is comfortably in the top5 productive nations. 5 Likes 2 Shares |
Re: Ghanaian Fintech, Dash, Shuts Down After Raising $86.1 Million In 5 Years by kajog: 7:05am On Oct 07, 2023 |
SavageResponse:n dey go dey claim arriving |
Re: Ghanaian Fintech, Dash, Shuts Down After Raising $86.1 Million In 5 Years by Bfly: 7:06am On Oct 07, 2023 |
Free money |
Re: Ghanaian Fintech, Dash, Shuts Down After Raising $86.1 Million In 5 Years by Paraman: 7:15am On Oct 07, 2023 |
TheSuperX:Do you know that $600k no b #600k? For a startup that has not gain her feet, that's a lot of money. People invested their money in his business, if people didn't invest, how would he have make the $600k per annum. |
Re: Ghanaian Fintech, Dash, Shuts Down After Raising $86.1 Million In 5 Years by IamAtikulate: 7:38am On Oct 07, 2023 |
SoNature:This guy was paying himself over #40 million monthly, nearly #500 million yearly. We Africans have problem. |
Re: Ghanaian Fintech, Dash, Shuts Down After Raising $86.1 Million In 5 Years by shine12: 7:39am On Oct 07, 2023 |
Firstly, the closing up of these startups doesn't bode well for the Sub-Saharan African startup scene. We also need to refrain from perpetuating negative stereotypes about the black/African continent as a whole. Fraud is something that exists worldwide; there are several US biotech companies on the NYSE and Nasdaq with no functional technology, yet they take millions of dollars from investors and a lot of these companies end up packing up. A notable example is Elizabeth Holmes, a woman whose biotech company was valued at $10 billion, but it turned out she had misled investors, and the technology she claimed to have didn't work. She was recently sentenced to 11 years in jail. It's important to note that she was a white American woman who attended Stanford. We should refrain from self-deprecating narratives about Africa and black people as a whole. Fraud occurs globally, and African, American, and European fraud are equally detrimental. 1 Like 2 Shares |
Re: Ghanaian Fintech, Dash, Shuts Down After Raising $86.1 Million In 5 Years by IamAtikulate: 7:40am On Oct 07, 2023 |
TheSuperX:That is about #500 million yearly For a STARTUP CEO? 2 Likes |
Re: Ghanaian Fintech, Dash, Shuts Down After Raising $86.1 Million In 5 Years by Judolisco(m): 7:42am On Oct 07, 2023 |
SoNature:even most American billionares make their money with shares and not salary... 50k dolls per month dis one na barawo oh |
Re: Ghanaian Fintech, Dash, Shuts Down After Raising $86.1 Million In 5 Years by IamAtikulate: 7:44am On Oct 07, 2023 |
Lifestone:Shatap dia |
Re: Ghanaian Fintech, Dash, Shuts Down After Raising $86.1 Million In 5 Years by IamAtikulate: 7:45am On Oct 07, 2023 |
ednut1:Dash is not a unicorn Unicorns are $1 billion valued company |
Re: Ghanaian Fintech, Dash, Shuts Down After Raising $86.1 Million In 5 Years by IamAtikulate: 7:50am On Oct 07, 2023 |
miceroms:That is the job of the board (corporate governance) not any regulator. I blame the investors. Why would you put in over $85 million in an African startup without constituting a strong, independent company's board without the CEO as the Chairman. The next bad news will come from Jumia. I read their report few days ago and wept for that company. Can you imagine, our almighty Jumia loses $160 for every $100 it earns. Insane 2 Likes |
Re: Ghanaian Fintech, Dash, Shuts Down After Raising $86.1 Million In 5 Years by IamAtikulate: 7:51am On Oct 07, 2023 |
MrAgbako:Opay is an Indian company |
Re: Ghanaian Fintech, Dash, Shuts Down After Raising $86.1 Million In 5 Years by onoms4luv(m): 7:51am On Oct 07, 2023 |
The power house of every company is Data which many Fintech company lack, No good database, No good data scientist or analysts, hence everything they do, crumbles.. SoNature: |
Re: Ghanaian Fintech, Dash, Shuts Down After Raising $86.1 Million In 5 Years by kajog: 7:57am On Oct 07, 2023 |
Stephench: You sound like a very poor man to think that 15k is such a huge amount and enough to ground a company that's raised millions of dollars. 15k isn't so much money for a CEO to receive if he so wishes. 50k on the other hand is on the high side. I know a lot about Y combinator and about start ups. I'm a software engineer that's studied product and project management and also working on start up products, there's nothing you can tell me about start ups as I have experience in the tech world saxj:that fellow just shows he will do worst if he starts his own company 3 Likes |
Re: Ghanaian Fintech, Dash, Shuts Down After Raising $86.1 Million In 5 Years by Lifestone(m): 8:11am On Oct 07, 2023 |
IamAtikulate:What do you know? Nothing. |
Re: Ghanaian Fintech, Dash, Shuts Down After Raising $86.1 Million In 5 Years by jedisco(m): 9:43am On Oct 07, 2023 |
SoNature: You reek of inferiority complex and self hate. There are poorly run companies in any part of the world. This could have easily been another race and your ignorant head will keep mute. |
Re: Ghanaian Fintech, Dash, Shuts Down After Raising $86.1 Million In 5 Years by colp2015: 9:50am On Oct 07, 2023 |
6ixVille:Can you give a brief description of your start up for business model and execution analysis? |
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