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Nigeria | Wifi.com.ng lands funds to expand Internet service

Nigeria | Wifi.com.ng lands funds to expand Internet service
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Wifi.com.ng, a service owned by start-up based in Nigeria has closed a venture capital funding to expand its Internet services in the country.

Wifi.com.ng owned by Tizeti Inc offers unlimited Internet service by leveraging large wireless capacity on Wi-Fi and lowering costs of solar panels.

Zeno Ventures, a U.S.-based venture capital firm founded in 2016 by Christopher Kile and Duarte Moreira to invest internationally in fast growing technology start-ups says the Nigerian Wi-Fi provider, Tizeti, is the latest beneficiary of its investment.

According to the venture capital firm, the Nigerian Wi-Fi provider which participated in the latest batch of its Y Combinator closed the funding deal earlier this year, but no financial details were provided.

The venture capital firm sees prospects for growth in the Nigerian Wi-Fi provider because “currently, less than 1% of Africa’s population has a broadband subscription. Tizeti provides unlimited plans at an affordable price – 30% lower than existing mobile offerings.”

Connected: A mobile phone user browsing the Internet
Connected: A mobile phone user browsing the Internet
 Kendall Ananyi, CEO, Tizeti Inc, owners of Wifi.com.ng
Kendall Ananyi, CEO, Tizeti Inc, owners of Wifi.com.ng

The venture capital firm sees prospects for growth in the Nigerian Wi-Fi provider because “currently, less than 1% of Africa’s population has a broadband subscription. Tizeti provides unlimited plans at an affordable price – 30% lower than existing mobile offerings.”

Wifi.com.ng Market Disruption

“Tizeti has developed a cost effective solution to provide reliable broadband internet services to densely-populated urban centres in Africa. The company owns the last mile delivery network that routes internet connectivity from submarine cables to its customers’ locations through its collection of solar powered Wi-Fi towers in central Lagos. Tizeti’s consumer facing brand, Wifi.com.ng, offers unlimited data plans starting at $30 per month as well as hot spot services for short term use”, according to a statement by Zeno Ventures.

 

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The Nigerian Wi-Fi provider believes that despite Africa’s slow start and almost non-existent infrastructure, through its Wifi.com.ng, it is building Wi-Fi solar base stations to provide affordable unlimited Internet service across the continent.

“Tizeti is leveraging the large wireless capacity available with Wi-Fi and plummeting cost of solar panels to create a low CAPEX/OPEX network of owned & operated towers to offer disruptive, customer-friendly pricing for unlimited internet service right across Africa”, Tizeti says on its website.

The company is also looking to the sun not only to power its service but also lower its delivery cost, which is passed to consumers.

“Tizeti is leveraging the plummeting costs of solar panels to power its base stations and pass the savings to its customers to provide Internet that transforms every aspect of their daily lives as well as drive innovation in the region”, according to the Wi-Fi company.

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