Finance

US rapper Nas backs $20mln investment in video game startup carry1st

US rapper Nas backs $20mln investment in video game startup carry1st
Thursday, 20 January 2022 18:14

Eight months after it raised $6 million, Africa-focused interactive games and content publisher Carry1st has secured additional investment to support its expansion across the continent.

South Africa and New York-based mobile games publisher Carry1st has raised $20 million in a deal led by U.S. VC Andreessen Horowitz (a16z), US rapper Nas (pictured), the founders of Nigerian payment company Chipper Cash, Google, Avenir Growth Capital, and several former investors also participated in the operation.

“We are delighted to be making our first investment in an Africa-headquartered company in Carry1st, a next-generation mobile games and fintech platform. We see immense opportunity for the company to mirror outstanding successes we’ve seen in markets like India, China, and Southeast Asia,” said David Haber, partner at Andreessen Horowitz.

Last May, Carry1st raised $6mln in a Series A round. The startup, which currently has a team of 37 people in 18 countries, plans to use the additional funding to expand its game publishing business across Africa. It also plans to expand its portfolio of interactive content, strengthen its engineering team, and boost revenues by attracting new users through co-development contracts with game studios.

Carry1st estimates that by 2027 Africa will have twice as many video game players as North America currently has. The company believes the continent will be the next big growth market for games worldwide. In a 2021 report with Newzoo, Carry1st said video game revenues are expected to grow by 728% over the next decade.

Chamberline Moko

On the same topic
Partnership with ANSER focuses on structuring and mobilizing financing Mechanism relies on phased funding tied to project...
Coris Bank International posted a 36% increase in net profit in 2025. The bank grew its customer base by 11.6% and deposits to CFAF 2,015.3...
Kenya has asked the World Bank for rapid emergency financing to cushion the economic shock from the war in Iran, Governor Kamau Thugge said...
Seven of Nigeria's top 11 listed banks missed the March 31 deadline for 2025 audited accounts, all citing pending Central Bank approval The bottleneck...
Most Read
01

(EBID) - EBID aims to allocate nearly 41% of its commitments to projects with environmental and...

EBID makes giant strides for a green transition in west africa
02

Four major operators—Mauritel, Mattel, Rimatel, and Chinguitel—submitted a combined bid of ...

Mauritanian Telecom Operators Submit $27 Million Combined Bid for 5G Licenses
03

Mahindra & Mahindra is considering a CKD assembly plant near Durban to strengthen its presence i...

Mahindra & Mahindra Eyes Major Shift to Full Vehicle Assembly in South Africa
04

Operators review 2025 investments, outline 2026 expansion plans Consumer complaints persist...

Cameroon Presses Telecom Operators on Service Quality as Complaints Rise
05

Gabon's 7% 2031 Eurobond posted its biggest single-day drop in a year on Wednesday after a new I...

Gabon Eurobond Due 2031 Posts Biggest Drop in a Year on IMF Budget Warning
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.