Franco-African startup StarNews Mobile has successfully raised $3 million in pre-Series A funding, with notable investors including French soccer players Aurelien Tchouameni from Real Madrid, Jules Kounde from Barcelona, and Mike Maignan from AC Milan. The investment round was led by Africa-focused venture capital firm Janngo, and the funds will be used to support the expansion of StarNews in key African markets.
Key Takeaway
StarNews Mobile, an African mobile video network, has raised $3 million in funding with the support of French soccer players Aurelien Tchouameni, Jules Kounde, and Mike Maignan. The startup connects African content creators with mobile users and aims to provide a platform for monetizing their work. With a focus on partnerships with major telecom operators, StarNews Mobile is driving content distribution and monetization in Africa’s media industry. The funding will be instrumental in supporting the growth of Africa’s creator economy, a sector with significant growth potential.
Connecting African Content Creators with Mobile Users
Founded in 2017 by Guy Kamgaing, StarNews Mobile offers a platform for African content creators to monetize their work through a subscription model. The startup currently operates in six African countries, including Cameroon (its country of origin), Nigeria, Ghana, Congo, Benin, and Ivory Coast.
The mobile video network collaborates with major telecommunications operators such as MTN and Orange to reach mobile users who often have limited access to relevant content due to expensive mobile data plans and a shortage of locally tailored services. By connecting content creators to these users, StarNews Mobile aims to provide a win-win situation for both parties.
Driving Content Distribution and Monetization in Africa
Mobile operators play a crucial role in Africa’s media industry, with their extensive distribution capabilities. StarNews Mobile leverages its partnerships with telecom operators to raise awareness and boost user activations. The platform features content produced by creators as well as deeply hyperlocal content and genre-specific shows. It also sponsors events and concerts to attract and engage users.
StarNews Mobile has successfully attracted over 4 million subscribers through its partnerships with MTN and Orange and has secured nearly $8 million in funding from various U.S., European, and African venture capitalists. The platform provides financial support, content production assistance, and digital acquisition guidance to content creators, ensuring their success within the ecosystem.
Unlocking the Potential of Africa’s Creator Economy
Africa’s creator economy remains an underserved sector in the African tech landscape, and StarNews Mobile aims to change that. The platform distributed $1 million to content creators in 2021 and plans to enhance payouts in the future with the newly raised funds. This investment will support the growth of Africa’s creative industry and contribute to the region’s economic development.
