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Tingo Group

Full company profile

uuid000daci

Namestring
Tingo Group
Websiteurl
tingogroup.com
Company typeenum
Public
Founded yearint
2001
Short descriptiontext

Tingo Group is a US holding company (Montvale, 101–250 employees) operating across mobile, agriculture, and food processing sectors; no specific subsidiaries, products, customers, or geographies are disclosed in available data, and the company is under an SEC trading suspension since September 2024 for alleged pump-and-dump activity.

Operating statusenum
Operating
Ownership categoryenum
Headcount rangeband
101–250
akta.pro rankint
HeadquartersMontvale, United States
HQ citystring
Montvale
HQ countrystring
United States
HQ regionstring
North America
Markets served

Serves global market

Keyword5 values
mobile telecommunications services, agricultural services, food processing, holding company operations, agri-fintech platforms
Industry2 codes
1Concentrate/Syrup & Flavor Base Contract Manufacturing
CodeAFAFAIAIPrimaryYes
2Juice Concentrates, Bases & Syrups (Fruit/Vegetable)
CodeAFAKAFACPrimaryNo
NAICS code2 codes
  • Flavoring Syrup and Concentrate Manufacturing31193
  • Offices of Other Holding Companies551112
SIC code1 code
  • Canned, Fruits, Veg, Preserves, Jams & Jellies2033
Product category
Diversified Holding Company (Mobile, Agriculture, Food Processing)
Social media profiles1 record
GTM typeB2B and B2C
B2B and B2C
Offering typeServices
Services
Core offering1 text field

Tingo Group is a holding company whose portfolio spans three sectors: mobile telecommunications, agriculture, and food processing. As a parent entity, it consolidates operating subsidiaries active in each of these verticals rather than selling a single, unified product line. The specific operating subsidiaries, their geographies, and the individual products or services they sell are not detailed in the source material.

Differentiator
Functional benefit
Problem solved
Scale indicator1 record

Each record includes

Type, Value, Description, Source

Peers10 records
1Flutterwave
TypeEmerging player
Description

Nigerian-founded pan-African payments infrastructure company serving mobile-money and merchant use cases. Comparable as an emerging Nigerian fintech serving the same mobile-commerce and merchant-payment opportunities Tingo Mobile targeted.

2Interswitch
TypeEmerging player
Description

Nigerian digital payments and commerce platform providing mobile-money, merchant, and consumer fintech infrastructure. Comparable to the mobile-finance layer Tingo Mobile operated in the Nigerian market.

3Airtel Africa
TypeDirect peer
Description

Major African mobile telecom operator with significant Nigerian operations and growing mobile-money/financing services. Directly comparable to Tingo Group's mobile-plus-mobile-finance strategy targeting Nigerian consumers and smallholder agriculture.

4M-KOPA
TypeEmerging player
Description

Kenya-based fintech providing pay-as-you-go financing for solar and other productive assets including agriculture tools via mobile. Comparable to Tingo Group's mobile-enabled agriculture financing concept in an emerging-market African context.

5Twiga Foods
TypeEmerging player
Description

Kenya-based B2B food distribution platform connecting smallholder farmers to urban retailers via mobile technology. Comparable to Tingo Foods/Tingo Mobile's effort to bridge African agriculture and consumer markets using mobile distribution.

6Dangote Group
TypeDirect peer
Description

Nigerian industrial conglomerate with major food processing, agriculture, and commodities operations across Africa. Directly comparable to Tingo Group as a multi-sector holding company with significant African food and agriculture exposure.

7Olam International
TypeBroad incumbent
Description

Global food and agri-business with deep African presence spanning sourcing, processing, and distribution of food ingredients. Comparable as a large, established food processing and agriculture operator across emerging markets, particularly in Africa.

8MTN Group
TypeBroad incumbent
Description

Africa's largest mobile network operator with presence across Nigeria and other key Tingo Group geographies. Comparable to the Tingo Mobile subsidiary in mobile telecom distribution and consumer-facing mobile services across Africa.

9BUA Group
TypeDirect peer
Description

Nigerian conglomerate operating across food processing, agriculture, and infrastructure, with significant cement and sugar assets. Comparable to Tingo Group as a privately-held holding company with diversified African operations including food manufacturing.

10Safaricom
TypeBroad incumbent
Description

Kenyan mobile operator with M-Pesa mobile-money platform serving consumer and small-business agriculture use cases. Comparable to Tingo Mobile's mobile-plus-mobile-finance model in an adjacent African market with similar mobile-agriculture convergence.

Market position
Customer concentration

Classification, Details

Ideal customer profile2 records

Each record includes

Profile, Firmographic size, Sales motion, Sales cycle length, Buying structure, Purchase trigger, Buyer persona, Geography, Industry vertical, Primary use case, Description, Pain points, Evidence proof points, Target buyer

Technology focused
No
API detail
Has APIbool
No

Docs URL, Description

AI maturity
App detail

Has app

Core technology
Revenue estimate
Valuation estimate
Number of profiles
Profiles2 records

Each record includes

Name, Designation, Designation category, Overview, Profile commentary, Source

No data
No data
Funding overview

Funding stage, Last funding date, Total funding USD

Funding rounds

Each record includes

Round, Amount USD, Date, Pre money valuation, Total investors, Investors, News

Investors

Each record includes

Name, Type, Date of entry, Rounds participated, Website

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Each record includes

Name, Acquisition type, Announced date, Completed date, Status, Website, News

Investment

Each record includes

Name, Round, Announced date, Lead investor, Website, News

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Tingo Group

Diversified Holding Company (Mobile, Agriculture, Food Processing)tingogroup.com

Tingo Group is a US holding company (Montvale, 101–250 employees) operating across mobile, agriculture, and food processing sectors; no specific subsidiaries, products, customers, or geographies are disclosed in available data, and the company is under an SEC trading suspension since September 2024 for alleged pump-and-dump activity.

Tingo Group firmographics

Firmographics
Name
Tingo Group
Website
https://tingogroup.com
Company type
Public
Founded year
2001
Operating status
Operating
Headcount range
101–250 employees
Short description
Tingo Group is a US holding company (Montvale, 101–250 employees) operating across mobile, agriculture, and food processing sectors; no specific subsidiaries, products, customers, or geographies are disclosed in available data, and the company is under an SEC trading suspension since September 2024 for alleged pump-and-dump activity.
Ownership category
akta.pro rank

Tingo Group industry classification

Industry
Product category
Diversified Holding Company (Mobile, Agriculture, Food Processing)
NAICS
Flavoring Syrup and Concentrate Manufacturing (31193), Offices of Other Holding Companies (551112)
SIC
Canned, Fruits, Veg, Preserves, Jams & Jellies (2033)
akta.pro primary industry
Concentrate/Syrup & Flavor Base Contract Manufacturing (AFAFAIAI)
akta.pro secondary industry
Juice Concentrates, Bases & Syrups (Fruit/Vegetable) (AFAKAFAC)

Keywords

  • Mobile telecommunications services
  • Agricultural services
  • Food processing
  • Holding company operations
  • Agri-fintech platforms

Where Tingo Group is headquartered

Location

Headquarters

HQ city
Montvale
HQ country
United States
HQ region
North America

Markets served

Tingo Group business model

Business model
GTM type
B2B and B2C
Offering type
Services

Tingo Group product offering

Product offering

Core offering

Tingo Group is a holding company whose portfolio spans three sectors: mobile telecommunications, agriculture, and food processing. As a parent entity, it consolidates operating subsidiaries active in each of these verticals rather than selling a single, unified product line. The specific operating subsidiaries, their geographies, and the individual products or services they sell are not detailed in the source material.

Differentiator

Problem solved

Functional benefit

Companies that use Tingo Group

Customer profile

Ideal customer profiles2 records

Tingo Group technology and API

Technology

Technology focussed No

API detail

Has API
No
API docs
API detail

Core technology

AI maturity

App detail

Tingo Group partnerships and signals

Strategic signal

Scale indicators1 record

Tingo Group competitors and assessment

Company assessment

Emerging players

  • Flutterwave: Nigerian-founded pan-African payments infrastructure company serving mobile-money and merchant use cases. Comparable as an emerging Nigerian fintech serving the same mobile-commerce and merchant-payment opportunities Tingo Mobile targeted.
  • Interswitch: Nigerian digital payments and commerce platform providing mobile-money, merchant, and consumer fintech infrastructure. Comparable to the mobile-finance layer Tingo Mobile operated in the Nigerian market.
  • M-KOPA: Kenya-based fintech providing pay-as-you-go financing for solar and other productive assets including agriculture tools via mobile. Comparable to Tingo Group's mobile-enabled agriculture financing concept in an emerging-market African context.
  • Twiga Foods: Kenya-based B2B food distribution platform connecting smallholder farmers to urban retailers via mobile technology. Comparable to Tingo Foods/Tingo Mobile's effort to bridge African agriculture and consumer markets using mobile distribution.

Direct peers

  • Airtel Africa: Major African mobile telecom operator with significant Nigerian operations and growing mobile-money/financing services. Directly comparable to Tingo Group's mobile-plus-mobile-finance strategy targeting Nigerian consumers and smallholder agriculture.
  • Dangote Group: Nigerian industrial conglomerate with major food processing, agriculture, and commodities operations across Africa. Directly comparable to Tingo Group as a multi-sector holding company with significant African food and agriculture exposure.
  • BUA Group: Nigerian conglomerate operating across food processing, agriculture, and infrastructure, with significant cement and sugar assets. Comparable to Tingo Group as a privately-held holding company with diversified African operations including food manufacturing.

Broad incumbents

  • Olam International: Global food and agri-business with deep African presence spanning sourcing, processing, and distribution of food ingredients. Comparable as a large, established food processing and agriculture operator across emerging markets, particularly in Africa.
  • MTN Group: Africa's largest mobile network operator with presence across Nigeria and other key Tingo Group geographies. Comparable to the Tingo Mobile subsidiary in mobile telecom distribution and consumer-facing mobile services across Africa.
  • Safaricom: Kenyan mobile operator with M-Pesa mobile-money platform serving consumer and small-business agriculture use cases. Comparable to Tingo Mobile's mobile-plus-mobile-finance model in an adjacent African market with similar mobile-agriculture convergence.

Market position

Customer concentration

Tingo Group social profiles

Digital presence

Tingo Group financial estimates

Financial estimate

Revenue estimate

Valuation estimate

Tingo Group leadership team

Management profile

Number of profiles

Profiles2 records

Tingo Group funding detail

Funding detail

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

Tingo Group M&A and investment

M&A and investment

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Tingo Group

What does Tingo Group do?

Tingo Group is a holding company whose portfolio spans three sectors: mobile telecommunications, agriculture, and food processing. As a parent entity, it consolidates operating subsidiaries active in each of these verticals rather than selling a single, unified product line. The specific operating subsidiaries, their geographies, and the individual products or services they sell are not detailed in the source material.

Is Tingo Group a public or private company?

Tingo Group is a public company. It is classified as public and is currently operating.

When was Tingo Group founded?

Tingo Group was founded in 2001. It employs 101 to 250 people.

Where is Tingo Group based?

Tingo Group is headquartered in Montvale, United States, in the North America region.

Who are Tingo Group's main competitors?

Emerging players on record are Flutterwave, Interswitch, M-KOPA and Twiga Foods. Direct peers are Airtel Africa, Dangote Group and BUA Group. Broad incumbents are Olam International, MTN Group and Safaricom.

Does Tingo Group have an API?

No public API is recorded for Tingo Group.

What industry is Tingo Group in?

Tingo Group's product category is Diversified Holding Company (Mobile, Agriculture, Food Processing). Its primary akta.pro industry code is AFAFAIAI, Concentrate/Syrup & Flavor Base Contract Manufacturing, with a secondary code of AFAKAFAC, Juice Concentrates, Bases & Syrups (Fruit/Vegetable). Its NAICS code is 31193 and its SIC code is 2033.

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Live signals
ThenationonlinengExpert challenges Nigerian entrepreneurs to build businesses for global capitalTingo Group CEO Dozy Mmobuosi challenged Nigerian entrepreneurs to build businesses for global capital, not just domestic markets. He said only scalable ideas solving real problems will attract funding, and the Founders House platform aims to provide mentorship and networks. The initiative is expected to operate as a regular meeting point for collaboration and enterprise development.GlobeNewswireTingo Group, Inc. Reports Third Quarter 2023 Financial ResultsTingo Group reported Q3 2023 net revenue of $586.2 million, down $391 million from Q2, due to Nigeria's currency devaluation and a short-seller report. Nine-month revenue reached $2.414 billion, with operating profit of $492.5 million. The company plans to lease 6 million smartphones to AFAN members starting December 2023.BenzingaWhat's Going On With Tingo Group Stock Friday?Tingo Group, Inc. (NASDAQ:TIO) released its quarterly report on August 30, 2023, showing $977 million in revenue, $96 million in earnings, and a promised $20 million dividend, in an effort to address concerns raised by Hindenburg Research's June short-seller report.GlobeNewswireTingo Group, Inc. Reports Second Quarter 2023 Financial ResultsTingo Group reported Q2 2023 net revenue of $977.2 million, up 8,072% from Q2 2022, with operating profit of $181.7 million. The company announced a quarterly dividend and expects Tingo DMCC export revenues to grow in the second half of the year.PR NewswireMOORE KUEHN ENCOURAGES TINGO GROUP, INC. INVESTORS TO CONTACT LAW FIRMMoore Kuehn, PLLC, a New York-based securities law firm, announced on August 7, 2023, that it is investigating potential investor claims against Tingo Group, Inc. following a June 6, 2023 report by Hindenburg Research accusing Tingo of being an "exceptionally obvious scam" with fabricated financials. Following the Hindenburg report, Tingo's stock price fell 48.2%, closing at $1.32 per share, resulting in significant losses for investors.PR NewswireCLASS ACTION ALERT: The Law Offices of Vincent Wong Remind Tingo Investors of a Lead Plaintiff Deadline of August 7, 2023The Law Offices of Vincent Wong filed a class action lawsuit against Tingo Group, Inc. on behalf of investors who purchased shares between December 1, 2022 and June 6, 2023, alleging the company made materially false and misleading statements. The complaint details 13 specific allegations including that CEO Mmobuosi fabricated biographical claims, Tingo photoshopped images of airplanes and facilities it did not own or operate, and the company inflated revenue figures by claiming $128 million in handset leasing revenue and $125.3 million from its NWASSA marketplace that were not actually generated. Investors who suffered losses have until August 7, 2023 to request appointment as lead plaintiff in the case.PR NewswireTIO Investors Have Opportunity to Lead Tingo Group, Inc. Securities Fraud LawsuitThe Law Offices of Frank R. Cruz announced an opportunity for investors who suffered substantial losses to lead a securities fraud class action lawsuit against Tingo Group, Inc. (NASDAQ: TIO) for the class period December 1, 2022 to June 6, 2023. The complaint alleges that defendants failed to disclose that CEO Mmobuosi fabricated biographical claims, the company photoshopped images of airplanes and facilities it did not own or properly progress, and Tingo inflated revenue figures including $128 million in handset leasing revenue and $125.3 million from NWASSA while lacking effective accounting controls. The lead plaintiff deadline is August 7, 2023.PR NewswireTIO DEADLINE: ROSEN, A RANKED AND LEADING FIRM, Encourages Tingo Group, Inc. Investors with Losses to Secure Counsel Before Important August 7 Deadline in Securities Class Action - TIOThe Rosen Law Firm has filed a securities class action lawsuit against Tingo Group, Inc. on behalf of investors who purchased the company's securities between December 1, 2022 and June 6, 2023, with a lead plaintiff deadline of August 7, 2023. The lawsuit alleges that Tingo made false and misleading statements regarding overstated revenue, nonexistent business activities, and fabricated customer and supplier contracts. When the true details entered the market, investors allegedly suffered damages.PR NewswireTINGO SHAREHOLDER NOTICE: Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $100,000 In Tingo To Contact Him Directly To Discuss Their OptionsFaruqi & Faruqi, LLP is investigating potential securities fraud claims against Tingo Group, Inc. (NASDAQ: TIO) and notifying investors of an August 7, 2023 deadline to seek lead plaintiff status in a federal securities class action. The lawsuit alleges that Tingo overstated its revenue and accounting metrics, claimed business activities and contracts with customers and suppliers that did not exist, and made materially misleading positive statements about its operations and prospects. On June 6, 2023, short seller Hindenburg Research published a report titled "Tingo Group: Fake Farmers, Phones, and Financials—The Nigerian Empire That Isn't," concluding Tingo was a fraud; the stock fell 48% ($1.23 per share) to close at $1.32 on high trading volume.PR NewswireSHAREHOLDER ALERT: The Gross Law Firm Notifies Shareholders of Tingo Group, Inc. of a Class Action Lawsuit and a Lead Plaintiff Deadline of August 7, 2023 - (NASDAQ: TIO)The Gross Law Firm has filed a securities class action lawsuit against Tingo Group, Inc. on behalf of shareholders who purchased shares between December 1, 2022 and June 6, 2023. The complaint alleges that the company and its CEO made materially false and misleading statements, including fabricating biographical claims, photoshopping images of company assets, inflating financial metrics, and misrepresenting business relationships and revenues. The lead plaintiff deadline is August 7, 2023.