Google and a16z Lead $20M Investment in Carry1st, Africa’s Largest Web3 Game Publisher

Carry1st, an African mobile and web3 gaming publisher, has announced a $20 million Series A extension round led by the web3-obsessed venture firm, Andreessen Horowitz (a16z).

Other participants in the round include:

According to a16z:

We are delighted to be making our first investment in an Africa-headquartered company. We see immense opportunity for the company to mirror outstanding successes we’ve seen in markets like India, China, and Southeast Asia.

– a16z

Carry1st is Africa’s leading mobile and web3 games publisher, serving over one million users today.

Its investors are however more drawn by the fact that Carry1st has aggregated Africa’s disparate payment networks into a modern fintech platform, ultimately creating a one-stop solution for other game publishers to manage, distribute, and collect payments from end-users across 90 different payment methods.


SEE ALSOa16z Invests $25 Million into Goldfinch, a DeFi Lending Protocol, with Africa the Leading Market


Krusty Cook-Off, one of Carry1st’s games

In November 2021, in a move to further accelerate digital payments in Africa, Carry1st partnered with payments firm, PayPal, and cross-border payments platform, Chipper Cash, to launch a new product, Carry1st Shop.

Carry1st Shop enables people across the continent to shop online for virtual goods and digital services and buy everything from pre-paid electricity and mobile data to game assets for PUBG (Player Unknown Battleground), ROBLOX, and SpongeBob: Krusty Cook-Off.

The fintech product also provides ways for people to pay, including mobile money, crypto and bank transfers – all adding back to the visions of offering a single digital location for secure purchases of gaming assets, lifestyle content, and other digital needs.

According to Cordel Robbin-Coker, CEO and Co-Founder, Carry1st:

In 2021, we launched multiple games and digital commerce solutions achieving really strong growth. Together, we can accelerate this growth and achieve our goal of becoming the leading consumer internet company in the region.”

– CEO / Co-Founder, Carry1st

The firm, which says it has witnessed 96% monthly revenue growth, will use the additional capital to expand its content portfolio, grow its product, engineering and growth teams, and acquire tens of millions of new users.

Carry1st also says it is expanding into game co-development, working with leading game studios on original concepts, and developing the infrastructure to support play-to-earn gaming.

Founded by Robbin-Coker, COO, Lucy Hoffman, and Chief Technology Officer (CTO), Tinotenda Mundangepfupfu, the Cape Town-based team employs 37 people across 18 countries.

Some of its game titles include:

  • Mine Rescue
  • Match League 
  • Football Clash
  • PUBG (Player Unknown Battleground)
  • SpongeBob: Krusty Cook-Off

The gaming industry is expected to grow exponentially over the next 10 years, creating new opportunities for Web3 and play-to-earn business models across the African continent.


RECOMMENDED READING: 2022: The Year of GameFi?


Thank you for your support by helping us create content:

BTC address: 3CW75kjLYu7WpELdaqTv722vbobUswVtxT

ERC20 Address: 0xBc11cFa590C6CC465248D77d399C3106B881cC0E

SOL address: 9cC65AWFHj848kntcoyiT8av3jiRQEqyTTmBR1GvVUb


Follow us on Twitter for latest posts and updates

Join and interact with our Telegram community


Subscribe to our YouTube channel below for more updates: