It’s not usually you hear about African tech firms increasing into Europe. Some examples embody fintechs and Korapay in Jap Europe and the U.Okay., respectively. Within the newest growth, , an African enterprise firm that companions with worldwide OEMs like Microsoft and Oracle and supplies knowledge warehousing options and enterprise purposes to banks, telcos and insurance coverage corporations, is asserting its European launch.
The Nigeria-based methods integrator mentioned the strategic enlargement positions it as a “new aggressive entrant within the EU market providing knowledge warehousing and analytics merchandise in addition to extremely skilled senior knowledge engineers from its Nigeria group as consultants for European corporations.”
, certainly one of Nigeria’s high-profile angel traders who launched a fund Voltron Capital final 12 months, began Bluechip Applied sciences in 2008 with . The corporate focuses on knowledge warehousing, analytics and enterprise methods for banks and telcos. Having launched with a ₦5 million (~$30,000 on the time) seed funding from Soyombo’s father, Bluechip Applied sciences has grown to make use of practically 200 consultants and expanded throughout different African markets comparable to Kenya, DRC Congo, Zambia and Ghana. A few of its purchasers have pan-African and world attain, together with FirstBank, MTN, 9mobile, Lafarge, GTBank and Entry Financial institution.
Bluechip’s knowledge warehouse product collates knowledge from disparate sources, translating them into info that will get companies to grasp tendencies comparable to buyer lifetime worth, churn and enterprise analytics on gathered knowledge. Telcos additionally use its simplex voucher administration system to create airtime vouchers.
With its just lately launched Primo Academy, a pipeline six-month program of information professionals (type of like an Andela-esque mannequin) for itself, native and worldwide companions, Bluechip Applied sciences can be one of many few African tech firms specializing in coaching and inserting knowledge professionals.
In accordance with Soyombo, the post-pandemic development in distant working, a vital scarcity of tech expertise and a rise in demand for managing knowledge extra effectively current an amazing alternative for his firm to ship specialised companies in Europe (latest analysis initiatives the area’s massive knowledge and enterprise analytics market dimension to hit $105 billion+ by 2027). Additionally, the corporate, having delivered–in partnership with worldwide OEMs–a spread of enterprise tech infrastructure options within the African market, thinks it could do the identical in Europe and plans to focus on the telco and banking sector from its Eire base.
“We constructed this core enterprise enterprise utility for banks and telcos and the expertise pool to deal with these wants. The entire play right here is to be that methods integrator supplier to the EU market. The pandemic has accelerated the necessity for that world flat workspace, and tips on how to place these engineers whereas working with our companions like Oracle and Microsoft, and to do that cheaper than India or Jap Europe,” mentioned Soyombo.
will lead the European enlargement as CEO of Bluechip EU Subsidiary. He was the CEO of Enterprise Logic Programs, a Bluechip associate based mostly within the U.Okay. In 2017, Enterprise Logic was acquired by Eire-based Evolving Programs, a supplier of software program for linked cell units to over 100 community operators throughout 60+ nations; Lewis was the corporate’s senior vp of world gross sales till this 12 months. His expertise will show very important in inserting Bluechip’s knowledge engineers and IP-packaged merchandise (together with its newly launched buyer knowledge administration and money administration options) with European companions.
“Richard has a superb really feel of the market. He has seen a number of the preliminary necessities from prospects that may make him say, “hey, if that is how what you’re paying for a developer in India, we may give you an equally high quality developer for 20-30% much less this value. And that’s the goal that we’re pursuing,” Soyombo mentioned.
Bluechip’s progress over the previous decade has virtually mirrored the event of the African tech ecosystem and comparable companies in the identical timeframe regardless of the corporate not being venture-backed (its enterprise is such that VC cash isn’t essentially required to scale). As an example, when Andela launched in 2014, it solely had bodily hubs in Nigeria, Kenya, Rwanda and Uganda to supply, vet, and prepare engineers to be a part of distant groups for worldwide firms. Nonetheless, because it expanded to over 80 nations.
In the end, Bluechip, which operates the Andela-esque mannequin for certainly one of its companies, plans to change into a legacy multinational info expertise companies and consulting firm like India’s Tata Consulting and Tech Mahindra. In 2014, the corporate clocked about $5 million in income. Final 12 months, it generated virtually $50 million. With its pan-African and world enlargement plans, Soyombo predicts that the corporate’s revenues may hit $250 million in 5 years. “We wish to strive it out on the EU market and see the way it works. The plan can be to increase additional elsewhere like French-speaking Africa and presumably North America,” mentioned the co-founder and investor.