10 Nov 2023
African mobile video network StarNews Mobile has successfully closed a $3 million pre-Series A funding round. Founded in 2017 by Guy Kamgaing, the platform offers African content creators an opportunity to monetize their work through a subscription model.
Guy Kamgaing, Founder, and CEO, has over a decade of experience in content monetization, particularly in the Value-Added Services (VAS) sector. His strong relationships with major telecommunications operators like MTN and Orange have allowed StarNews to connect content creators with mobile users who often struggle to access relevant content due to expensive data plans and limited localized services.
Kamgaing explained, "There are thousands of creators online that don't make money on YouTube or other platforms. So it was just putting two and two together, saying, 'Well, this content is here that no one knows about and is very difficult to get the audience on YouTube and search, but I can help creators make money because I have a relationship with the telcos."
StarNews Mobile has made significant strides since its inception, boasting over 4 million subscribers and a community of more than 120 content creators. The platform has secured nearly $8 million in funding from various venture capital firms, including Investisseurs & Partenaires (I&P), Snap via its Yellow Accelerator program, LoftyInc Capital, Graph Ventures, and Expert Dojo.
StarNews Mobile features a variety of content tailored to African audiences. The platform leverages its partnerships with telecom operators to raise awareness and boost user activations for exclusive shows.
The success of StarNews Mobile comes at a time when Africa's creative industry is poised for exponential growth. The platform's funding round was led by Janngo Capital, an Africa-focused venture capital firm, with participation from notable investors, including soccer players Aurélien Tchouaméni, Jules Koundé, and Mike Maignan, all affiliated with athlete representation agency Excellence Sport Nation.
In a press statement, Kamgaing outlined StarNews Mobile's plans to enhance its presence in Francophone Africa and expand into strategic markets like Nigeria and Ghana. The company is on track to be operating in 11 markets by the next year. This investment marks a significant step in bridging the gap between African content creators and a global audience, showcasing the real African story to the world.