Wonderloop Attracts Investment From One Of Africa’s Wealthiest Magnates

Mergers, Acquisitions and Financial Results

Tony O. Elumelu, one of Africa’s wealthiest magnates (who recently launched a $100 million program to support entrepreneurship in Africa) is understood to have put an undisclosed sum into Silicon Valley-based mobile startup Wonderloop.

Prior to this, Wonderloop had raised $500,000 in seed funding and received $100,000 from Innovation Norway.

Heirs Holdings, a Lagos based proprietary investment company, has committed the seed investment into Wonderloop, which has a sort of ‘LinkedIn for video’ platform, which we reviewed last year.

Founded by Norwegian entrepreneur Hanna Aase, the Wonderloop iPhone app allows people connect through short 10 to 15 second video profiles, replacing the static images and bios of traditional social networks.

Source: Techcrunch 5 December 2014