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Egyptian Edtech Orcas raises $2.1 million

Egyptian Edtech Orcas raises $2.1 million

Cairo-based live learning Edtech startup, Orcas, has raised $2.1m in a pre-series A funding round from CIRA’s NFX Ventures and Access Bridge Ventures. Algebra Ventures, Launch Africa Ventures, Cairo Angels Syndicate Fund, and Seedstars International also participated in the round. Co-founded by Hossam Taher and Amira El Gharib

Ghanaian fintech startup, Float, raises $17 Million to boost cash flow for commerce in Africa

Ghanaian fintech startup, Float, raises $17 Million to boost cash flow for commerce in Africa

There are at least 44 million formal SMBs in Africa. 71% of them require more finance to grow their businesses than they can currently access. However, obtaining credit isn’t easy and for most, it’s impossible as traditional banks prefer to focus on large corporations. To solve this problem,

Africa’s Funding Gap: The case of Anglophone and Francophone Africa

Africa’s Funding Gap: The case of Anglophone and Francophone Africa

Unwanted Attention Was Wave’s $200 million Series A financing in September last year unwanted attention to Francophone Africa? With African startups being particularly hyped for global funding and investment over the past years, much of this funding has been skewed particularly towards Anglophone Africa and this is a huge

Microtration invests in Pivo

Microtration invests in Pivo

In its first deal for the year, VC firm, Microtraction, has announced an investment in fintech startup Pivo, a financial platform for small and medium-sized businesses. In a Medium post, the firm stated that it was excited to be on the journey with the founders as they work hard to

Fintech Farm secures $7.4M investment, set to launch in Nigeria and other emerging markets

Fintech Farm secures $7.4M investment, set to launch in Nigeria and other emerging markets

Fintech Farm, a British fintech company that creates neobanks in emerging markets, has raised a $7.4M investment to launch neobanks in 8 countries during the next two years. The round was led by Flyer One Ventures and Solid, while Jiji, TA Ventures, u.ventures, and AVentures Capital also participated.

Nigeria’s SeamlessHR closes $10m Series A round led by TLcom Capital

Nigeria’s SeamlessHR closes $10m Series A round led by TLcom Capital

SeamlessHR, a Nigerian startup that offers payroll and HR software-as-a-service (SaaS) solutions, has raised a $10 million Series A round led by TLcom Capital. Existing investors such as Lateral Capital and Enza Capital also took part in the round. Other investors include Capria, Ingressive Capital, and several strategic private investors.

Lipa Later, a Kenyan BNPL startup raises $12m to expand credit footprint in Africa

Green House Capital

Lipa Later, a Kenyan BNPL startup raises $12m to expand credit footprint in Africa

Lipa Later, a Kenyan tech-led consumer credit startup, raised $12 million in pre-Series A funding. This brings the company’s total funding to about $16 million to date. The startup says it will use this new funding to expand into Tanzania, Nigeria, South Africa, and Ghana and deepen its presence

Nigerian Government Lifts Ban on Twitter After Six Months

Nigerian Government Lifts Ban on Twitter After Six Months

The Nigerian government has lifted the ban on the popular social media platform Twitter, six months after the suspension was made. The government also said the social media company has agreed to its terms of operation in the country. The announcement was made yesterday via a statement by the Chairman

Egyptian Foodtech 3attar raises Seed investment

Egyptian Foodtech 3attar raises Seed investment

Cairo-based Foodtech startup, 3attar, has secured an undisclosed seed investment to expand its user base and develop its tech stack. AUC Angels, UI Investment, and a group of angel investors all participated in the round. 3attar was launched in 2019 by Mohamed Ali, as a B2C online platform with its

8 African startups pitch at Techstars Toronto Demo Day

8 African startups pitch at Techstars Toronto Demo Day

Last year, two African startups Plentywaka (now Treepz) and TalentQL made it into the Techstars Toronto Accelerator program, alongside 8 other startups. Since then, these two startups have recorded significant growth and traction. With Treepz raising $2.8 million in seed funding and expanding to Ghana and Uganda. On the

Ajim Capital Launches $10M Fund for early-stage African Startups

Ajim Capital Launches $10M Fund for early-stage African Startups

Early-stage VC firm, Ajim Capital has announced the launch of a $10 million fund to invest in startups in Africa. The funding will help founders focus and grow their businesses rather than worry about funding. Ajim Capital is looking to invest in exceptional African founders, with potential for rapid growth

Tunisia Launches InnovaTech to High Growth Startups

Tunisia Launches InnovaTech to High Growth Startups

Tunisia has announced the launch of its “InnovaTech,” initiative aimed at stimulating growth for innovative small businesses. The initiative involves a $43m investment fund for Tunisian startups. The fund also intends to mobilize private savings, leveraging co-investment to promote the startup ecosystem in the country. Private-sector actors will be able

Orange Ventures invites Egyptian Fintechs to apply for its Seed Challenge

Orange Ventures invites Egyptian Fintechs to apply for its Seed Challenge

Early-stage VC firm, Orange Ventures, has announced the launch of its Seed Challenge, which will see the VC firm grant $570k in capital to one Egyptian fintech startup. This comes less than a month after the VC launched its Orange Digital Centre in Cairo, Egypt. Applications are invited from seed-stage

Afrikrea Raises $6.2m Pre-Series A Round, Rebrands as ANKA

Afrikrea Raises $6.2m Pre-Series A Round, Rebrands as ANKA

Afrikrea, an Ivory Coast-based startup and e-commerce platform for all things made of Africa, has raised a $6.2 million pre-Series A funding round and rebranded as “ANKA.” ANKA means “ours” in Bambara, a shared language in the region from Mali and Ivory Coast, and across West Africa. It aims

Y Combinator Increases Standard Deal Size to $500,000 for Startups

Y Combinator Increases Standard Deal Size to $500,000 for Startups

The foremost tech accelerator program, Y Combinator has announced an increment to $500,000 in funds to invest in participating startups. The Silicon Valley tech accelerator will now offer an additional $375,000 in the form of an uncapped simple agreement for future equity (SAFE) note from the traditional $125,

Energise Africa, Solarise Africa raises over $1.13M funds to fund solar projects in Africa

Energise Africa, Solarise Africa raises over $1.13M funds to fund solar projects in Africa

Energise Africa and Solarise Africa, in partnership with crowdfunding companies in the UK, raised over $1.13M million in the space of eight days to fund large-scale energy projects in Sub-Saharan Africa. “We are humbled by the support we’ve received from the Energise Africa investor community”, said the CEO

ThankUCash Raises $5.3 Million Seed Fund for Expansion

ThankUCash Raises $5.3 Million Seed Fund for Expansion

ThankUCash, a leading multi-merchant rewards platform based in Nigeria has raised $5.3 million in seed funding. The seed round was co-led by 500 Global and Unicorn Growth Capital with participation from Expert Dojo, Predictive VC, SaaS growth Ventures, Betatron Hong kong, Accelerex Holding, Andrew Dell (former CEO of HSBC)

Startups in Benin Republic Exempted from Corporate Tax for First 2 Years Under the General Tax Code Act

Startups in Benin Republic Exempted from Corporate Tax for First 2 Years Under the General Tax Code Act

Any government can benefit from the growth of its startup ecosystem. The ability of a government to create a peaceful dialogue between itself and startups in the locality will go a long way in determining the existence and growth pattern of the startup and the economic development of the country.

Nigerian government partners JICA to launch iHatch, a startup incubation program

Nigerian government partners JICA to launch iHatch, a startup incubation program

The National Information Technology Development Agency (NITDA), through its subsidiary, the National Centre for Artificial Intelligence and Robotics (NCAIR) in partnership with Japan International Cooperation Agency (JICA), is set to launch iHatch, a startup incubation program aimed at increasing the number of innovation-driven enterprises by Nigerian youths. This might not

Nigerian fintech Bfree raises $1.7 M to expand across Africa, other emerging markets

Nigerian fintech Bfree raises $1.7 M to expand across Africa, other emerging markets

Nigerian credit management fintech startup, Bfree has secured $1.7 million in a pre-Series funding round to expand its operations across Africa, into Asia, Europe, and South America. Having raised $800,00 in a seed round in May 2021 brings the total raised funds to $2.5 million. Participants in

SA based HealthLeap raises $1.1M Pre-seed to Reduce Malnutrition in Hospitals

African Health Tech

SA based HealthLeap raises $1.1M Pre-seed to Reduce Malnutrition in Hospitals

South Africa-based health tech startup, HealthLeap, has raised $1.1M pre-seed to reduce malnutrition in hospitals with clinical AI assistant which focuses on a global healthcare market, starting from the hospitals in the United States. The $1.1 million pre-seed round was led by deep tech investor Fifty Years. HealthLeap

YC backed Namibian startup, JABU gets $3.2 M in seed funding round

YC backed Namibian startup, JABU gets $3.2 M in seed funding round

JABU, a Namibia-based B2B e-commerce startup has announced the raise of a $3.2 million seed round. The seed funding, which closed last year received investors such as Afore Capital, Y Combinator, FJ Labs, Kli Capital, Quiet Capital, Pareto Capital, and other anonymous seed investors. JABU joined the Y Combinator

REEF Technologies to launch cloud kitchens across MENA

REEF Technologies to launch cloud kitchens across MENA

The US-based operator of delivery kitchens, logistics, and proximity hubs, REEF Technologies, has announced plans to launch cloud kitchens for its network of restaurants and brands in MENA. REEF was launched in 2013 by Ari Ojalvo, Aziz Ihsanoglu, Philippe Saint-Just, Umut Tekin. The firm currently functions as North America’s

mPharma closes $35million Series D Round to Expand its Mutti Pharmacies

African Health Tech

mPharma closes $35million Series D Round to Expand its Mutti Pharmacies

mPharma, a Ghanaian health tech startup, is building a network of community pharmacies across Africa as it targets to be the go-to primary healthcare service provider for millions of Africans. The startup is now set to activate more Mutti pharmacies to widen its reach and to build out its tech

Rwanda snaps $100M from AIDB for its Digital Acceleration Project

Rwanda snaps $100M from AIDB for its Digital Acceleration Project

The Rwandan government, through its Ministry of Finance and Economic Planning, has reportedly borrowed $100 Million from the Asian Infrastructure Development Bank (AIDB) to fund its Digital Acceleration Project. The Digital Acceleration Project is also co-financed by the World Bank to help increase the country’s broadband access and digitalization