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Digital Realty Acquires 55% Controlling Stake in S.A Teraco Data Environments

Africa’s largest data center

Digital Realty Acquires 55% Controlling Stake in S.A Teraco Data Environments

Africa’s largest data center services provider, Teraco Data Environments, has been acquired by Digital Realty in a deal that values Teraco at an astonishing $3.5 billion. This is Digital Realty’s 3rd acquisition on the African continent following previous ones in Kenya (iColo) and Nigeria, (Medallion) respectively. “We

Kenyan Money Manager App Alvin raises $740k pre-seed Funding Round

Kenyan Money Manager App Alvin raises $740k pre-seed Funding Round

Kenyan smart money manager app, Alvin, helping people align their daily spending around savings goals, has raised $740k in a pre-seed funding round as it continues to hone its product, which is in the private beta phase. The round was led by Ingressive Capital, and featured Zephyr Acorn, Voltron Capital,

US-based Xcelerate to buy stake in Tanzanian Medical Technology Firm, AfiyaSasa Africa

US-based Xcelerate to buy stake in Tanzanian Medical Technology Firm, AfiyaSasa Africa

Tanzanian med-tech startup, AfiyaSasa Africa (ASA), is closing in an investment from Xcelerate Inc., a medical technology services provider based in the United States, in which it will yield a majority position to the company. The deal will see Xcelerate purchase a 51% stake in the Tanzanian medical technology and

How African Entrepreneurs can Leverage TEF's Grant for Growth

How African Entrepreneurs can Leverage TEF's Grant for Growth

Recently, African Tech-Startups have taken the center stage particularly in the area of access to funding. In 2021, African tech companies did unimaginable numbers by surpassing every prediction by experts as tech companies raised over $4 billion (more than they got in 2019 and 2020 combined) From minting five unicorns

SA Proptech and digitalisation company, e4 expands to UK

SA Proptech and digitalisation company, e4 expands to UK

South African property tech and digital solutions provider, e4 has announced its expansion into European markets, making the UK its international go-to-market. In a statement, the company says long-standing executive director Simon Slater has relocated to the UK to head up the venture. Slater’s focus, it notes, will be

Nigerian IdentityPass, Ethiopian BeU Delivery Gets Into Y Combinator W22 Batch

Nigerian IdentityPass, Ethiopian BeU Delivery Gets Into Y Combinator W22 Batch

Ethiopian startup BeU delivery and Nigerian-based IdentityPass have been confirmed as participants in the prestigious Y Combinator W22 Batch which would run from January through March. Participants receive $125,000 in seed funding in addition to other investment opportunities at the demo day. beU delivery has just been added to

Benin-based FedaPay Secures Funding from Benin Business Angel Network

Benin-based FedaPay Secures Funding from Benin Business Angel Network

Benin-based payment aggregator, FedaPay, has announced it raised its first round of investment from Benin Business Angel Network (BBAN). FedaPay is an efficient and secure system for payment by credit cards and by mobile money launched in 2018 by Hermann Aguessy and Boris Koumondji. The platform manages merchant accounts, allowing

Egypt’s B2B eCommerce Fashion Startup Gahez Raises $2M in Pre-Seed Funding

Egypt’s B2B eCommerce Fashion Startup Gahez Raises $2M in Pre-Seed Funding

Egyptian e-commerce startup, Gahez, has announced it raised $2m in a pre-Seed funding round to boost its inward growth and accelerate expansion. The pre-seed round was led by Disruptech Ventures with participation from Egypt Ventures, Tanmeyah (an EFG Hermes company), Afropreneur fund, and other angel investors. Headquartered in Egypt, Gahez

How Piggyvest Helped Nigerians Save $585 million in 2021

How Piggyvest Helped Nigerians Save $585 million in 2021

Nigeria-based online savings and investment company PiggyVest, announced on January 1st, 2022 via its newsletter that it successfully paid out over N242 billion ($585 million) in 2021 to customers. The payout for 2021 doubles in comparison to 2020, which was announced to have amounted to N90 million. “With over 3.

Three Egyptian Edtech startups close rounds from EdVentures

Three Egyptian Edtech startups close rounds from EdVentures

Three Egyptian startups, OBM Education, Super Fny, and Crafty Workshop have received an undisclosed amount of funds from EdVentures and The Academy of Scientific Research and Technology (ASRT). EdVentures is an Arabian venture capital firm with a focus on Education, Culture, and Innovative Learning Solutions, powered by the long successful

Africa and Tech 2021

Africa and Tech 2021

It’s slow, but it’s moving An article from theouut.com in March stated thus: In a world that continues to evolve, and fast, Africa is very quickly rising in the ranks of tech innovation and evolution. At the moment, Africa has a finger in every pie in the

Nigerian data visualization startup, Mustard Insights, raises capital

Nigerian data visualization startup, Mustard Insights, raises capital

In what can be described as a last-minute round, Nigerian data visualization startup, Mustard Insights has raised an undisclosed amount of capital in a pre-seed round of funding towards its goal of building Africa’s largest data repository. The round was led by Velocity Digital as well as other investors.

Kenyan Agritech startup, Apollo Agriculture, takes up US$ 9.5m Loan to Enhance Food Security Pact

Kenyan Agritech startup, Apollo Agriculture, takes up US$ 9.5m Loan to Enhance Food Security Pact

A Kenya-based technology firm that helps small-scale farmers increase their profitability, Apollo Agriculture, has agreed to take up a US$9.5 million loan from the US government-backed International Development Finance Corporation (DFC) for up to ten years. The DFC said the 10-year loan would assist to improve Kenya’s

South African Internet Provider, Isizwe, secures $450K from the Global Innovation Fund

South African Internet Provider, Isizwe, secures $450K from the Global Innovation Fund

The Johannesburg-based internet service provider that promotes access for minimal-income communities, Isizwe, has announced it secured a $450k investment from The Global Innovation Fund. GIF is offering this funding as part of ADVANCE, a collaboration with Anglo Americans that allows private investment to grow creative business models in support of

Uganda’s Tech-enabled Asset Finance Firm Tugende Secures $17m Funding

Uganda’s Tech-enabled Asset Finance Firm Tugende Secures $17m Funding

Ugandan fintech lender, Tugende, specializing in asset lending in Kenya and Uganda, has closed a $17m investment round. The funds raised will assist the organization in meeting client demand as well as supporting other technological advancements. The Nordic Microfinance Initiative (NMI) ($5m), Symbiotics ($6m), and the Lendahand crowdfunding site ($1m)

Nigerian edtech startup, Teesas, raises $1.6M pre-seed to expand across Africa

Nigerian edtech startup, Teesas, raises $1.6M pre-seed to expand across Africa

Teesas, a Nigerian Edtech startup has raised $1.6 million in a pre-seed funding round to expand its operations into new markets and also launch a marketplace that will connect learners with tutors for private lessons. The investment round was led by Haresh Aswani, Tolaram Group’s Africa managing director,

AfDB Invests in Janngo Start-up Fund to Boost Innovation Across Africa

AfDB Invests in Janngo Start-up Fund to Boost Innovation Across Africa

African social startup studio, Janngo Capital has announced the first close of its Start-Up Fund at $12 million (€10.5m). The pooled funds comprise $7.9 million (€7m) provided by the African Development Bank and a $3.9 million (€3.5m) contribution by the European Union and the Organization of

United States’ Aumet Acquires Egyptian Healthcare Supply Chain Solution Platform One

United States’ Aumet Acquires Egyptian Healthcare Supply Chain Solution Platform One

United States’ B2B healthcare marketplace serving the Middle East and North Africa, Aumet, has announced the acquisition of Platform One, an Egypt-based healthcare supply chain solutions startup, for an undisclosed amount. The acquisition will enable Platform One’s full operation across Saudi Arabia, the United Arab Emirates, Egypt, and Jordan,

Nigerian Edtech startup, Stranerd, launches P2P learning platform

Nigerian Edtech startup, Stranerd, launches P2P learning platform

Nigerian self-funded Edtech startup Stranerd has announced the launch of its peer-to-peer learning platform where students can ask and answer homework-related questions, with the service designed to give the smartest students opportunities to offer support to others who may be less skilled in particular subjects. Stranerd which began life as

Moroccan Real Estate Valuation Startup, Agenz, Secures $540k Seed Funding

Moroccan Real Estate Valuation Startup, Agenz, Secures $540k Seed Funding

Moroccan property valuation startup, Agenz, has raised $540K in a seed funding round less than a year after its launch to accelerate the rollout of Agenz across the country. This funding came from Azur Innovation Partners. AGENZ is a Casablanca-based startup launched by brothers, Malik Belkeziz and Badr Belkeziz to

Kenyan Fintech startup, Paylend, bags $2M Seed Investment

Kenyan Fintech startup, Paylend, bags $2M Seed Investment

Kenyan fintech startup, Paylend, announced Tuesday that it has secured $2 million seed investment from Next Chymia Consulting HK Limited, an Asian based company that provides blockchain applications, consultancy services and training to global entities. Founded in September 2019, Paylend is focused on providing access to finance and digitizing MSMEs

Kenyan Fintech Startup IMFact Secures $3.9m

Kenyan Fintech Startup IMFact Secures $3.9m

Kenyan fintech startup, IMFact, has announced it secured $3.9m from FSD Africa Investments (FSDAi), the investment arm of FSD Africa. IMFact is a non-deposit taking financial institution founded in 2019 by Cardano Development (CD), an Amsterdam-based incubator and fund manager, with funding from KfW on behalf of the German

South Africa’s Planet42 gets $30M for its car subscription service, led by Naspers

South Africa’s Planet42 gets $30M for its car subscription service, led by Naspers

Planet42, a South Africa-based car subscription company that buys used cars from dealerships and rents to customers via a subscription model, has raised $30 million in equity and debt. The investment — which co-founder and CEO Eerik Oja called a bridge round — is a prequel to a larger Series A round

SA based SweepSouth, acquires Egyptian home services startup, Filkhedma

SA based SweepSouth, acquires Egyptian home services startup, Filkhedma

SweepSouth, an online home services platform backed by Naspers, has announced the acquisition of Filkhedma, an Egyptian home services startup. Launched in 2014, SweepSouth is an online platform providing on-demand home cleaning services, operating across various South African cities. Filkhedma is Egypt’s home services marketplace operating across three cities

Koniku closes Series A round led by Nigeria's Platform Capital

Koniku closes Series A round led by Nigeria's Platform Capital

Koniku Inc., a Nigerian-founded, California-based biotech company, has announced the close of its Series A financing round led by Platform Capital Investment Partners, a Nigeria-based private equity firm. Founded in 2017 by Oshiorenoya Agabi, a Nigerian-born scientist who now runs the company’s team of engineers in Silicon Valley. Koniku’