Andela raises $40M


#1

The financing came from CRE Venture Capital, a pan-African venture firm, with additional participation from DBL Partners, Amplo, Salesforce Ventures, and Africa-focused TLcom Capital.

BUT

But the financing comes as some local entrepreneurs have told us they worry about Andela taking money and attention away from other startups which are actually based on the ground in the continent. - Techcrunch

Andela is now the most highly funded African company not based in Africa. Let that sink in for a minute


#2

How is it not based in Africa? 90% of its work force is in Africa


#3

Congratulations to Andela. Total funding almost 80 million dollars.

something interest me in the way TC wrote the article

“Andela pays its employees a minimal salary for the first six months after they join but gives them each a laptop, provides subsidized housing, and offers two meals per-day”

it seems Andela is doing Africans a very big favor of saving the Africans,something similar to charity,they(African developers) living under 1 dollars a day couldnt learn anything before Andela, then Andela came and save them,gave them a laptop,house and meal two times a day but funny enough Andela doesnt give anybody subsidies housing but help them in search of accommodation.

Also

:After the six months, once developers are promoted and begin client work, Andela says it pays a salary that is competitive within their local tech ecosystem. That goes up to around $2,500/pm in Lagos and around $3,000/pm in Nairobi."

Lies

But if what TC wrote is true about our local entrepreneurs my question is

why are our local entrepreneurs scared? is it based on jealousy or are they scared that Andela is taking all the shine.


#4

thats good news for Nigeria


#5

Seni Sulyman who is Country Director at Andela Nigeria posted this on medium: https://medium.com/@senisulyman/what-andelas-series-c-funding-means-b253a134623b

He also wrote a piece on CNN: http://edition.cnn.com/2017/10/10/africa/africa-human-potential-andela/index.html

Not only that, you’ll be able to ask Seni anything today (Oct 11) at 12pm WAT on RADAR. Here’s the link: I’m Seni Sulyman, Country Director of Andela, Ask Me Anything!


#6

This is the current pay structure at Andela. The article at Tech Crunch is definitely Bullshit.

  1. The Andela fellowship is structured into 5 levels, D0, D1, D2, D3 and D4.

  2. D0 fellows are the fellows in training, they are not paid $500 a month. They receive roughly 100, 000 naira. Boarding is not guaranteed, it depends on availability of scare bed spaces. It is also not completely fee, fellows staying in the company provided accommodation pay about 12, 000 per month, deducted from their salaries. So a D0 fellow can expect to get slightly less than 90, 000 naira monthly

  3. D0 phase can take anywhere from 6 to 8 months depending on individuals, D1 comes immediately after, the salary is not significantly higher than D1, it is currently at about 120, 000 naira after accommodation and laptop deductions. ( The cost of a brand new $1700 Macbook pro which serves as the primary workstation of every fellow is deducted from their salaries)

  4. This phase of the fellowship typically lasts 8 months, as a fellow must have worked for a certain amount of hours for the company before consideration for promotion to the next level

  5. The salary jump for the next level of the fellowship is significant, fellows in D2 currently earn about 250, 000 (without accommodation or macbook payment deductions).This phase also lasts about 8 months

  6. D3 salary is about 380, 000 naira without above mentioned deductions. There is one D4 in the fellowship and the salary is projected to be about 600, 000 naira. 2 more are on the way

  7. How does Andela get paid? It’s straightforward. Companies working for Andela pay for developers at pretty much the same rate they pay for developers based in America BUT Andela pays fellows local market rates. Andela currently charges about $5000 for D1 fellows and up to $7500 for D2 or D3 fellows

  8. Fellows are not paid in dollars.

  9. What if a developer decides to leave before completing his time in the fellowship? Fellows are required to sign a bond before joining the fellowship. If a fellow decides to leave immediately after training, he has to pay $15, 000. A fellow is free to leave 24 months after training. The amount to pay is gradually scaled down on this 24 months continuum


#7

Jesus! This is low-level pay for the top percent of Nigeria developers. if this was America or South Africa, minimum of $10,000 a month. Assuming this was not the top 0.1% of Nigeria developer this would have been alright but Nigeria top talent deserves top money!


#8

Easy tiger! What you should be asking is the developer creating over $10,000 p.m of real cash inflows. Any company that doesn’t respect basic laws is a misdirection. In addition, Silicon Valley salaries depend on many factors, many of which are outside Andela’s control e.g macroeconomics. I’m 100% sure they know how to run their company profitably.


#9

I still think the pay could be a lot better relative to the status quo. Definitely not expecting Silicon Valley-esque type salaries but considering the arbitrage at play here I believe a little more won’t hurt. But all in all they are doing a good job especially for those of us that have come from nothing and only have skill and determination to succeed.


#10

I know we can ask them to do better but so far with what u wrote the pay is better than what I thought they offered the fellows, any ideas for other positions STC, Senior SE etc ?