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Nigerian agency banking startup, CrowdForce raises $3.6M to boost access to cash for underserved communities

Aruwa Capital Management

Nigerian agency banking startup, CrowdForce raises $3.6M to boost access to cash for underserved communities

Abuja-based startup, CrowdForce, a Y Combinator-backed agency banking platform, has today raised a $3.6 million Pre-Series A funding round to triple its PayForce agent network this year and deepen its financial service offerings to underserved Nigerian communities. The equity-and-debt round was led by Aruwa Capital Management with participation from

Africa’s Disrupt Story: The Case of Fintech Startups in Nigeria

Africa’s Disrupt Story: The Case of Fintech Startups in Nigeria

Disrupt During the 1940s polyvinyl chloride became common, hence the name “vinyl”. Vinyl records were the bomb. The tech informed the process of video/audio recording and video/audio casting through the 20th century. It was laughable when Lou Ottens decided to shrink large disks into a more efficient pocket

Egyptian e-commerce startup, Wasla, raises $9M from Contact, plans regional expansion

Contact Financial Holding

Egyptian e-commerce startup, Wasla, raises $9M from Contact, plans regional expansion

Egyptian e-commerce startup, Wasla has raised $9 million from Contact Financial Holding, an Egyptian non-bank that offers consumer finance service. The e-commerce startup is currently preparing to launch new online shopping capabilities including BNPL financing, a new online payment option and regional expansion. Wasla has before this founding received $1.

YC-backed Pharmtech, Remedial Health raises $1M pre-seed fund to stem fake drugs in Africa

Global Ventures

YC-backed Pharmtech, Remedial Health raises $1M pre-seed fund to stem fake drugs in Africa

Remedial Health has today announced it has secured $1 million in pre-seed funding to digitize pharmacies and standardize pharmaceuticals in a bid to stem the supply of fake and substandard drugs in Africa. The pre-seed round was co-led by UAE based Global Ventures, and Nigerian based VC firm, Ventures Platform,

South African API fintech startup, Stitch, closes $21m Series A funding round

South African API fintech startup, Stitch, closes $21m Series A funding round

African API fintech startup, Stitch, has announced the close of a $21 million Series A funding round to enhance its product offering and expand across Africa. This comes after the South African startup emerged from stealth with a $4 million raise early last year and a further $2 million seed

Why Mdundo is targeting more Telco partnership across Africa

Why Mdundo is targeting more Telco partnership across Africa

Mdundo, a music streaming service focused on Africa, is looking to expand its agreements with telecom service providers across the continent to boost its earnings and subscriber base. This expansion is due to collaborations with MTN and Airtel in Nigeria and Vodacom in Tanzania, which doubled its user base by

Excel@Uni Secures $314k to Help SA Students Through College

Excel@Uni Secures $314k to Help SA Students Through College

South African Edtech startup, Excel@Uni, has announced it raised $314k from impact investor E Squared to address the challenges that higher education faces. Excel@Uni was launched in 2018 by Lungelo Linda Gumede to support students through college by connecting them with exceptionally dedicated tutors. Tutors undergo a rigorous

Kenyan plastics recycling company, Mr. Green Africa, secures funding to scale its business across Africa

Kenyan plastics recycling company, Mr. Green Africa, secures funding to scale its business across Africa

Mr. Green Africa, a Kenyan plastics recycling pioneer company, is a circular recycling business that uses a technology-driven plastics collection model. The model enables waste collection at the source, integrating informal waste workers, micro-entrepreneurs, and consumers into a formal value chain. The plastic recycling company has secured an undisclosed amount

Mecho Autotech gets $2.15M to expand vehicle maintenance

Mecho Autotech gets $2.15M to expand vehicle maintenance

Nigerian vehicle repair and maintenance startup Mecho Autotech has raised $2.15M in a seed funding round to expand its capacities and acquire more customers. Investors in the round included Future Africa, Hoaq Capital, Cathexis Ventures, V8 Capital, Silver Squid, Tekedia Capital, and the round was oversubscribed by over 300%

Senegalese retail-tech startup ProXalys raises $150k pre-seed funding from Haskè Ventures

Senegalese retail-tech startup ProXalys raises $150k pre-seed funding from Haskè Ventures

Senegalese B2B Ecommerce platform for FMCG products, ProXalys, has raised $150k in pre-seed funding to expand across the country and, later, the West African region. Haskè Ventures, a venture builder based in Dakar and focused on transforming the startup landscape led the investment round. ProXalys was founded in 2021 by

Carscan is Disrupting Africa’s Auto-tech Space through Thermography

Carscan is Disrupting Africa’s Auto-tech Space through Thermography

About Carscan If you have an insurance company and are looking for an area where it will receive as most patronage, Africa should do. Being one of the world’s hot regions for insurance due to its underdeveloped insurance sector, Insurtech is accelerating insurance inclusion in Africa by creating disruptors

Ugandan fintech ChapChap, secures funding to accelerate expansion within and beyond its borders

Ugandan fintech ChapChap, secures funding to accelerate expansion within and beyond its borders

Ugandan fintech startup ChapChap has secured funding to accelerate growth and social impact creation. The funding round was led by Nordic Impact Funds and conducted through the Investure-Impact Exchange. ChapChap provides financial support to small and medium enterprises by creating a financial profile for low-income individuals and businesses and making

Kenya-based EV startup, BasiGo Secures $4.2M Seed funding to scale up operations In Kenya

Kenya-based EV startup, BasiGo Secures $4.2M Seed funding to scale up operations In Kenya

Kenya-based electric vehicles startup, BasiGo, which provides clean-energy mass transit vehicles, has closed a $4.3 million seed funding barely three months after commencing operations in the East African powerhouse. The $4.3 million funding round, which includes $930,000 raised during the pre-seed round late last year, was led

South African auto-tech startup Carscan receives $1.3M in follow-on funding round

South African auto-tech startup Carscan receives $1.3M in follow-on funding round

South African startup Carscan has raised $1.3 million in a funding round to further its expansion operations. Carscan is a prime artificial intelligence and augmented reality app built for vehicle inspection and automobile insurance. The innovative platform makes a complete, reliable, and detectable digital record of cars. In addition,

Nigerian healthtech, Reliance Health sets record in General Atlantic-led $40M Series B round

General Atlantic

Nigerian healthtech, Reliance Health sets record in General Atlantic-led $40M Series B round

Reliance Health, an emerging markets-focused digital healthcare provider has today announced the completion of a $40M Series B funding round led by General Atlantic, a leading global growth equity investor, with participation from Partech, Picus Capital, Tencent Exploration, AAIC (Asia Africa Investment and Consulting), P1 Ventures, Laerdal Million Lives Fund,

Kenyan wealth-tech startup, Ndovu launches, raises undisclosed amount in pre-seed round

Kenyan wealth-tech startup, Ndovu launches, raises undisclosed amount in pre-seed round

Kenyan wealth-tech startup Ndovu raised an undisclosed amount in a pre-seed round from 4DX Ventures, Plug and Play Tech Center, Future Africa, and Oui Capital yesterday to provide seamless access to the global financial markets to the east African country. The wealth-tech startup, Ndovu, was founded in 2020 by Radhika

Future Africa reaches a $30M mark in AUM in 2021

Future Africa reaches a $30M mark in AUM in 2021

The Future Africa fund, launched by co-founder and general investor, Iyinoluwa Aboyeji, invested $4.3 million in 43 companies in 2021 to take its total assets under management (AUM) to $30 million. The Future Africa Fund enables investors to commit to African startups without a deal-specific risk. Future Africa is

Kenyan insurtech startup, Lami acquires Bluewave, now in Malawi and DRC, targets the rest of Africa

Kenyan insurtech startup, Lami acquires Bluewave, now in Malawi and DRC, targets the rest of Africa

Kenyan insurtech startup Lami Technologies has announced its acquisition of Bluewave Insurance Agency. This Kenyan-based insurtech startup leverages mobile technology to reach the underserved population for an undisclosed amount. It seeks to make insurance covers accessible and affordable for more people across the African continent. This acquisition is a plus

Proptech Startup, Whose Your Landlord secures $2.1M from Black Operator Ventures

Black Operator Ventures

Proptech Startup, Whose Your Landlord secures $2.1M from Black Operator Ventures

The Nigerian-owned housing startup Whose Your Landlord (WYL) has raised $2.1 million in pre-seed funding, led by Black Operator Ventures (Black Ops Ventures). WYL is a US-based multipurpose platform that empowers and appraises rental communities. Founded by Ofo Ezeugwu in 2015, WYL collects rental feedback and uploads them to

Opay wins the best Point-Of-Sale Payment Service Provider Award from The Global Economics institution

Opay wins the best Point-Of-Sale Payment Service Provider Award from The Global Economics institution

Frontier fintech platform Opay, recognized as a mobile payment and collection service platform for Egypt and Africa, has won the ‘Best New Point-Of-Sale Payment Service Provider’ award from ‘The Global Economics’ institution. Mr. Mahmoud Khedr received the award, the company’s Director of Business Development and Strategic Partnerships, at the

Kenyan Amitruck Raises $4m Seed Funding to Accelerate Expansion across Africa

Kenyan Amitruck Raises $4m Seed Funding to Accelerate Expansion across Africa

Kenyan digital trucking logistics startup Amitruck has raised a $4 million seed funding round that had the participation of investors from Africa, Asia, Europe, the Middle East, and the United States to accelerate its expansion across Africa. Better Tomorrow Ventures (BTV) led the round, a San Francisco-based venture capital firm

Nigerian Insurtech, Casava raises $4M pre-seed funding to make insurance affordable and accessible for Nigerians

Nigerian Insurtech, Casava raises $4M pre-seed funding to make insurance affordable and accessible for Nigerians

Casava, a Nigerian digital insurance company has today raised $4 million pre-seed round. This funding is the largest pre-seed for an African insurtech company and the second largest for a Nigerian startup after Nestcoin whose round was declared only yesterday. The pre seed round was led by a Berlin-based Target

Web3 Startup Nestcoin Raises $6.45M Pre-Seed Capital to Make Crypto More Accessible for Africa

Web3 Startup Nestcoin Raises $6.45M Pre-Seed Capital to Make Crypto More Accessible for Africa

Nigeria-based global web3 startup, Nestcoin, has raised $6.45 million in pre-seed capital, as it aims to make crypto accessible primarily in frontier markets and their new funding will go toward their mission. Pan African venture capital firm 4DX Ventures backed the funding round with participation from Serena Ventures, launched

AFEX, a Nigerian leading commodities market player seeks to raise $175m in ABCP to boost Nigeria’s agro sector

AFEX, a Nigerian leading commodities market player seeks to raise $175m in ABCP to boost Nigeria’s agro sector

AFEX, a Nigerian leading commodities market player and the first private sector commodities exchange, announced on Monday the reopening of its $240m Asset-Backed Commercial Paper (ABCP) which will help in stabilizing the country’s agriculture sector by offering low-cost financing to Agro-processors to bridge the funding gap between lenders and

Egyptian YFS receives $7M to Scale its Logistics and Delivery Business

Egyptian YFS receives $7M to Scale its Logistics and Delivery Business

Egyptian on-demand delivery startup building a network of dark stores and micro-warehouses across Egypt, Yalla Fel Sekka (YFS), has secured a $7 million Series A round. DisruptAD led the Series A round while ADQ’s venture platform, and Kuwait-based Kharafi Group, funded the startup again in this round. Launched in