Bluechip, an African methods integrator with companions like Microsoft and Oracle, is increasing to Europe – TechCrunch
It’s not usually you hear about African tech firms increasing into Europe. Some examples embody fintechs Lidya and Korapay in Jap Europe and the U.Okay., respectively. Within the newest improvement, Bluechip Technologies, an African enterprise firm that companions with worldwide OEMs like Microsoft and Oracle and offers knowledge warehousing options and enterprise purposes to banks, telcos and insurance coverage corporations, is asserting its European launch.
The Nigeria-based methods integrator stated the strategic growth 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.”
Olumide Soyombo, considered one of Nigeria’s high-profile angel traders who launched a fund Voltron Capital final 12 months, began Bluechip Applied sciences in 2008 with Kazeem Tewogbade. The corporate makes a speciality of 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 almost 200 consultants and expanded throughout different African markets similar to Kenya, DRC Congo, Zambia and Ghana. A few of its shoppers 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 developments similar 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 lately launched Primo Academy, a pipeline six-month program of knowledge professionals (kind of like an Andela-esque mannequin) for itself, native and worldwide companions, Bluechip Applied sciences can also be one of many few African tech firms specializing in coaching and putting knowledge professionals.
In response to Soyombo, the post-pandemic pattern in distant working, a crucial scarcity of tech expertise and a rise in demand for managing knowledge extra effectively current an incredible alternative for his firm to ship specialised providers in Europe (latest analysis initiatives the area’s large 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 may possibly 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 software 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 the best way to place these engineers whereas working with our companions like Oracle and Microsoft, and to do that cheaper than India or Jap Europe,” stated Soyombo.
Richard Lewis will lead the European growth as CEO of Bluechip EU Subsidiary. He was the CEO of Enterprise Logic Techniques, a Bluechip associate based mostly within the U.Okay. In 2017, Enterprise Logic was acquired by Eire-based Evolving Techniques, a supplier of software program for linked cellular units to over 100 community operators throughout 60+ international locations; Lewis was the corporate’s senior vice chairman of worldwide gross sales till this 12 months. His expertise will show important in putting 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 very good really feel of the market. He has seen among the preliminary necessities from clients 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 stated.
Bluechip’s development over the previous decade has nearly mirrored the event of the African tech ecosystem and comparable companies in the identical time-frame regardless of the corporate not being venture-backed (its enterprise is such that VC cash isn’t essentially required to scale). For 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, after going fully remote, the unicorn saw a 750% increase in applicants outside Africa because it expanded to over 80 international locations.
Finally, Bluechip, which operates the Andela-esque mannequin for considered one of its providers, plans to develop into a legacy multinational info know-how providers 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 nearly $50 million. With its pan-African and world growth plans, Soyombo predicts that the corporate’s revenues may hit $250 million in 5 years. “We wish to attempt it out on the EU market and see the way it works. The plan can also be to develop additional elsewhere like French-speaking Africa and presumably North America,” stated the co-founder and investor.