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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

Nigerian Mobility startup, Moove closes $10 million round led by NPK Capital to expand across Africa

Nigerian Mobility startup, Moove closes $10 million round led by NPK Capital to expand across Africa

The mobility fintech company Moove has secured a $10 million financing deal from NBK Capital Partners Mezzanine Fund II. This makes the sixth investment from the Fund advised by NBK Capital Partners and the first investment in Africa. Moove is a mobility fintech that is Uber’s exclusive fleet partner

Nigerian AltSchool raises $1M pre-seed Funding to Bridge Entry-level Gap in Africa

Nigerian AltSchool raises $1M pre-seed Funding to Bridge Entry-level Gap in Africa

Nigerian Edtech platform providing curriculum to improve/upskill non-technical people with technical and soft skills while partnering with higher institutions to provide diploma certificates, AltSchool, has announced it raised $1 million in pre-seed funding to scale its efforts. The round featured Nigerian entertainer, Folarin Falana (Falz); Flutterwave Founder, Olugbenga GB

African Startups raised Over $475M in January. Promising!

African Startups raised Over $475M in January. Promising!

For African startups, it has become clear that the amount of funding committed to a particular sector directly affect the development, quality, and services generated from the sector. Funding maximizes the benefits available for a sector or unit and transmits a signal that the founders are willing to grow. Whether

Brimore raises $25 million in IFC led series A round to expand across Africa

Brimore raises $25 million in IFC led series A round to expand across Africa

Brimore, a Cairo-based social commerce platform connecting suppliers to community sellers, has closed a Series A round led by the World Bank’s International Finance Corporation (IFC) and early-stage investment venture capital firm, Endure Capital, with participation from Fawry, Flourish, Endeavor Catalyst Fund and the startup’s existing investors including

Nigerian fintech startup, Bamboo raises $15m Series A from Greycroft and Tiger Global

Nigerian fintech startup, Bamboo raises $15m Series A from Greycroft and Tiger Global

Nigerian brokerage app that lets Africans buy and trade US stocks in real-time, Bamboo, has announced it raised $15 million Series A funding round to accelerate its growth, move into new markets and launch more products. The round was led by Greycroft and Tiger Global with participation from Motley Fool

Nigerian Eazipay Inc. Joins the Y Combinator W22 Accelerator Program

Nigerian Eazipay Inc. Joins the Y Combinator W22 Accelerator Program

Eazipay Inc., a Nigerian startup that provides payroll and bookkeeping services to SMEs and corporates, has announced its participation in the Y Combinator Winter 2022 accelerator program. Based in Lagos, Nigeria, Eazipay designs Apps and APIs solutions for payroll and corporate taxes for small businesses and startups. With just one

Splendapp raises pre-Seed round from Saudi Angel Investors

Splendapp raises pre-Seed round from Saudi Angel Investors

Cairo-based mobile app developer, Splendapp, has announced it raised an undisclosed six-figure pre-Seed round from a cluster of Saudi angel investors. Splendapp is a mobile app creator offered as a SaaS solution launched in 2020 by Mohamed Khaled and Mohamed Shahin. The startup leverages an engine built to be used

Esusu raises $130M Series B to attain unicorn status, led by SoftBank Vision Fund 2

Esusu raises $130M Series B to attain unicorn status, led by SoftBank Vision Fund 2

Esusu, a New York-headquartered fintech startup that targets immigrant and minority groups and provides rent reporting and data solutions for credit building scores, announced on Thursday that it has raised $130 million in a Series B fundraising round. The round was led by SoftBank Vision Fund 2 with participation from

Tanzanian remittance platform NALA, raises $10 M in a new fundraising round

Tanzanian remittance platform NALA, raises $10 M in a new fundraising round

Tanzanian fintech, NALA, has raised $10 million in a fundraising round. NALA is a cross-border payment company that recently pivoted its services from local to international money transfers. Investors in this funding round include Amplo, Accel, and Bessemer Partners, with local investors like DFS Lab. Also partaking are angel investors

Ghanaian Fintech OZÉ raises $3M to scale startup

Ghanaian Fintech OZÉ raises $3M to scale startup

Ghanaian startup providing digital recordkeeping tools with embedded finance products for small and medium scale businesses, OZÉ, has raised $3 million in pre-series A funding round. The funding round was led by European venture capital firm Speedinvest, which invests in pre-seed, seed, and early-stage tech startups. Also participating in the

South Africa’s CompariSure Raises $980k Pre-Series A Funding

South Africa’s CompariSure Raises $980k Pre-Series A Funding

South African conversational commerce startup allowing personalized engagements between companies and users, CompariSure, has raised $980 K in a pre-Series A funding round to help it expand the usage of its chatbot technology. The round was led by HAVAÍC and featured 4Di Capital. The startup plans to use the funding

Vesti, a Migrant’s Banking App, Raises $500k In Pre-seed Funding

Vesti, a Migrant’s Banking App, Raises $500k In Pre-seed Funding

Vesti Technologies Inc announced that it has raised five hundred thousand dollars ($500,000) as part of a pre-seed funding round to improve its product platform, solidify its market penetration into the African market as well as increase its users base. Participants in the round include Oxygen Group, Microtraction, Prunedge