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TikTok beta-launches the “Creativity Program” creator fund

TikTok launched its “Creativity Program” beta today. The company claims the program will increase creator revenue and opportunities. Invite-only creators can join the program today, with all eligible creators joining soon. TikTok didn’t disclose the program’s budget because it’s still in development. The company didn’t specify how many followers or …

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In Q4 2022, Jumia cut 20% of staff to cut losses by half

As part of its streamlining efforts, Jumia cut managerial headcount by 60% in Dubai and over 900 positions across its 11 markets, affecting 20% of its staff. Jumia’s FY2022 financials show this happened in Q4 last year. This follows the Jumia Supervisory Board’s note on senior management shake-ups when it …

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Neobank Vexi raises millions to offer young Mexicans low-interest credit cards

Americans expect credit cards. Mexico makes it harder and less common. Fewer than 20% of people have credit, and only 10% have credit cards. In recent years, several startups have emerged to provide underserved Mexicans with more options to increase inclusion. Vexi is a startup. Rojo Blasquez, Gabriela Estrada, Cinthia …

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