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Nigerian Fintech Startup Prospa closes $3.8M Pre-seed Funding

Nigerian Fintech Startup Prospa closes $3.8M Pre-seed Funding

Nigerian Fintech startup Prospa has announced it raised $3.8m in a pre-seed funding round.Liquid 2 Ventures and Global Founders Capital led the round. Other participants were both global fintech founders like Ramp’s Karim Atiyeh, Mercury’s Immad Akhund, and executives from Facebook, Teachable, Nubank, and Square. Prospa

Wave closes largest Series A round for an African fintech with $200 million at a valuation of $1.7 billion

Wave closes largest Series A round for an African fintech with $200 million at a valuation of $1.7 billion

U.S. and Senegal-based mobile money provider, Wave has announced the raise of a $200 million Series A financing. This landmark investment shot the valuation of the independent mobile money provider to $1.7 billion. The round which is the largest ever Series A round in Africa was led by

Last-mile Delivery Startup FlexDELIVERY launches in Nigeria

Last-mile Delivery Startup FlexDELIVERY launches in Nigeria

P&O Maritime Logistics and IO Materials Services (IOMS) have announced the launch of local offshore delivery startup ‘FlexDELIVERY’ in Nigeria. FlexDELIVERY has been launched to provide integrated last-mile delivery services to the offshore energy industry in Nigeria. According to the founders, FlexDELIVERY will reduce the traditionally high cost

African Early-stage Startups Invited to Apply for FTxSDG’s $500k Challenge

African Early-stage Startups Invited to Apply for FTxSDG’s $500k Challenge

The Financial Times in partnership with Swiss-based venture firm Seedstars has invited African startups to apply for the first FTxSDG Challenge. The FTxSDG Challenge aims to empower promising, impact-driven startups and entrepreneurs with learning and funding opportunities. The challenge will focus on bringing early-stage startups from emerging markets and individual

Ugandan e-logistics Startup Ridelink raises $150k pre-seed funding round

Ugandan e-logistics Startup Ridelink raises $150k pre-seed funding round

Ugandan e-logistics startup Ridelink has announced it raised $150k in pre-seed funding round to help it scale operations. The round was led by Omidyar Network, the African Leadership Academy’s Young Entrepreneurs Fund, and Ortus Africa Capital. Ridelink was launched in 2017. The platform helps in the smooth running of

Nigeria’s Autochek acquires Cheki Kenya and Uganda from ROAM Africa

Nigeria’s Autochek acquires Cheki Kenya and Uganda from ROAM Africa

Nigerian automotive tech startup Autochek has announced the acquisition of Cheki Kenya and Uganda from Ringier One Africa Media (ROAM) for an undisclosed amount. The acquisition will enable Autochek’s expansion into East Africa Note that Autocheck had also acquired both Nigeria and Ghana businesses from Cheki in 2020. Cheki

Rwandan Startups Can Benefit from the ASF credit Facility

Rwandan Startups Can Benefit from the ASF credit Facility

The Private Sector Federation has partnered with the African Solidarity Fund to enable Rwandan startups to access loans through ASF-supported credit facilities for investment projects. The African Solidarity Fund is a multilateral and financial guarantee agency that was founded during the 1976 France-Africa summit in Bangui, Central Africa. The organization

Egyptian Beauty Startup Glamera launches B2B Platform

Egyptian Beauty Startup Glamera launches B2B Platform

Egyptian beauty service booking platform Glamera has announced the launch of its B2B platform to helps customers with beauty salon management. Glamera was launched in 2019 to ease access to beautification services. Through the platform, users can book appointments with hundreds of contracted providers covering all beauty sections, including salons,

Nigerian Agritech Startup Agricorp raises $17.5m Series A funding round

Nigerian Agritech Startup Agricorp raises $17.5m Series A funding round

Nigerian Agritech startup Agricorp, has announced it raised $17.5m in a Series A funding round to help it increase its production capacity to 7,000 metric tonnes. The round was led by Nigeria-based Vami with $11.5m in equity, while One Capital LLC and AFEX also supported the round.

African Solar Energy Startups Can Benefit from Energy Access Relief Fund’s $68m Funding

African Solar Energy Startups Can Benefit from Energy Access Relief Fund’s $68m Funding

Social Investment Managers and Advisors’ (SIMA) Energy Access Relief Fund (EARF), that recently raised $68m in capital has revealed it will provide finance to almost 90 energy-related businesses in Sub-Saharan Africa and Asia in the form of short-term loans. The EARF was launched this year by a coalition of development

MyFawry comes 1st in Forbes' Top Fintech Apps in the Middle East ranking

MyFawry comes 1st in Forbes' Top Fintech Apps in the Middle East ranking

Leading e-payment platform, MyFawry has been awarded as the top fintech app in the Middle East by Forbes Middle East. The report by Forbes also highlighted other leading mobile apps that would help customers make payments, transfer, borrow money as well as invest online. MyFawry already possesses these features and

Moroccan E-commerce Propagator Lacaisse.ma Secures Funding to Scale Its Points Of Sale Solutions

Moroccan E-commerce Propagator Lacaisse.ma Secures Funding to Scale Its Points Of Sale Solutions

Digital e-commerce solutions propagator Lacaisse. ma has announced it raised an undisclosed amount from WitaMax to scale its services. Lacaisse. ma was founded in 2016 by Southbridge A&I and the Axxam Family Office and has since operated as a key player in the digitization of local shops through

Nigerian e-Commerce Startup, Bumpa raises $200k pre-seed Funding

Nigerian e-Commerce Startup, Bumpa raises $200k pre-seed Funding

Nigerian e-Commerce startup, Bumpa has announced it raised $200k in a pre-seed funding round. Greencap Equity, HOAQ Club, Whogohost Venture Arm, Rizq Investment Group, Microtraction, DFS Labs, Aidi Ventures, Prosper Otemuyiwa, OO Nwoye, Perfect Makanju, and other angel investors all participated in the round. Bumpa was launched this year by

Kenyan Insurtech Startup MotiSure launches API-powered Platform

Kenyan Insurtech Startup MotiSure launches API-powered Platform

Kenyan Insurtech startup MotiSure has announced the launch of its API-powered platform to provide personal accident cover for commuters and riders through embedding insurance in tickets and other points of sale within mobility. MotiSure was co-founded in 2021 by the trio of Joel Macharia, Jane Njau, and Thuita Wachira. The

Zambian Healthtech startup Dawa Health Plans Regional Expansion

Zambian Healthtech startup Dawa Health Plans Regional Expansion

Zambian Healthtech startup Dawa Health, has announced it is planning expansion across Africa as it aims to empower more rural mothers in Africa through its digital health platform. Dawa Health was founded in 2018 and operated as a medical hardware startup, providing wearable devices to monitor geriatrics medical parameters to

Ridelink partners Anzisha & others, secures $150k Pre-seed Funding

Ridelink partners Anzisha & others, secures $150k Pre-seed Funding

Uganda-based e-logistics startup, Ridelink, has partnered with Omidyar Network, African Leadership Academy’s Young Entrepreneurs Fund (Anzisha), and Ortus Africa Capital, while it raised pre-seed funding of US$150,000 to scale its operations. This latest pre-seed funding brings Ridelink’s total investment to US$250,000, having drawn private

African social media startup, ear1 close $520,000 pre-seed round

African social media startup, ear1 close $520,000 pre-seed round

Ear1, an African social media startup that allows people to talk to influencers and professionals for a small amount, has announced the raise of a $520,000 pre-seed round. The round was led by Danny Oyekan of Dan Ventures, with Alkesh Thavrani of Stellar International and Prosper Otemuyiwa (CTO of

LoftyInc Capital launches third fund at $10M to diversify its investment in African startups

LoftyInc Capital launches third fund at $10M to diversify its investment in African startups

Pan-African VC firm, LoftyInc Capital, has announced on Tuesday that it is launching its third fund — LoftyInc Afropreneurs Fund 3 — at $10 million for tech startups in Africa. The firm has seen the first close of $5.5 million. Some of the limited partners in the vehicle include FBNQuest Funds,

Call for entries: Seedstars global Digital Democracy Challenge

Call for entries: Seedstars global Digital Democracy Challenge

Seedstars has announced for submission of entries into its global Digital Democracy Challenge, a hackathon that seeks to provide innovative solutions that strengthen and promote digital democracy. The program is looking for innovative and cost-effective solutions that can help citizens, activists, civil society actors, disenfranchised political actors engage in the

Nigerian B2B Startup Sabi Raises seed fund as it hits 150k merchant mark

Nigerian B2B Startup Sabi Raises seed fund as it hits 150k merchant mark

Nigerian B2B e-Commerce startup Sabi, serving Africa’s informal sector, has announced it secured an undisclosed amount in a seed funding round. The startup also announced it has received over 150,000 small business users on its platform. CRE Ventures, Janngo Capital, Atlantica Ventures, and Waarde Capital all participated in

Senegalese Mobility Startup, Kai Senegal, raises Seed Fund

Senegalese Mobility Startup, Kai Senegal, raises Seed Fund

Senegalese mobility startup Kai Senegal has announced it raised an undisclosed amount in a seed funding round. The round was led by Mobility 54, the corporate venture capital arm of Toyota Tsusho Corporation, to help it scale. Kai Senegal was founded in 2018, with the aim of connecting customers to

Moroccan e-Commerce startup Chari.ma raises funding, Acquires Mobile Credit platform

Moroccan e-Commerce startup Chari.ma raises funding, Acquires Mobile Credit platform

Moroccan B2B e-commerce startup Chari.ma, has announced it closed a round of funding and the acquisition of mobile credit book application Karny.ma. The funding was secured from Plug and Play to scale its services, having also secured capital from the Orange Ventures seed challenge in 2020 Charo.ma

Rwandan Health-tech Startup, Viebeg Technologies, Secures Pre-seed Funding

Rwandan Health-tech Startup, Viebeg Technologies, Secures Pre-seed Funding

Rwanda-based health-tech startup using an innovative data-driven procurement platform to offer high-quality medical supplies and equipment throughout Central and East Africa, Viebeg Technologies, has announced it raised an undisclosed amount in a pre-seed funding round. The pre-seed funding round was led by Beyond Capital Ventures. Eckenstein Geigy Stiftung and Eva

Pan-African fintech startup, PawaPay, raises $9m seed for expansion

Pan-African fintech startup, PawaPay, raises $9m seed for expansion

African Fintech startup, PawaPay, has announced it secured $9m in a seed funding round. The round was co-led by MSA and UK-based investment fund 88mph, with participation from Vunani Capital, Kepple Ventures, and Nigerian-Ghanaian music star, Tosin Ajibade, otherwise known as Mr. Eazi’S Zagadat Capital. Pawapay was founded in

After raising $200K, Nigerian fintech startup, Awabah, joins Techstars London accelerator

After raising $200K, Nigerian fintech startup, Awabah, joins Techstars London accelerator

Awabah, a Nigerian fintech startup that provides micro pension services for people in formal and informal employment, announced over the weekend that it has been accepted into the Techstars London accelerator program alongside nine other startups. This is coming after the digital pension startup raised $200K from early-stage angel investors,