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South African Cleantech Startup, SPS, Raises $40m in Funding

South African Cleantech Startup, SPS, Raises $40m in Funding

UK’s developer and investor in African electrical networks, Gridworks, and Fresh GX, a South African investment business, have announced an investment of $40 million in South Africa’s energy startup Sustainable Power Solutions (SPS). SPS was founded in 2010 by Axel Scholle, the startup partners with commercial and industrial

South African E-health Startup, VitruvianMD secures $659k investment

South African E-health Startup, VitruvianMD secures $659k investment

VitruvianMD, a South African e-health startup, has raised a US$659,000 financing round to scale its technology and launch more pilots. The round was led by the Singapore-based Verge Healthtech Fund and several angel investors. VitruvianMD combines biomedical engineering and cutting-edge artificial intelligence (AI) to provide medical laboratories with

Egyptian e-Commerce Startup MaxAB acquires Morocco’s WaystoCap after securing $15m extra funding

Egyptian e-Commerce Startup MaxAB acquires Morocco’s WaystoCap after securing $15m extra funding

Egyptian e-Commerce startup MaxAB has announced it acquired Moroccan B2B startup WaystoCap as it plots expansion into the Maghreb region. This announcement came after the startup secured an additional $15m to the $40m Series A round it secured last month. MaxAB was launched by Belal El-Megharbel and Mohamed Ben Halim,

Andela Learning Community hits new Milestone, exceeds 100,000 Learners

Andela Learning Community hits new Milestone, exceeds 100,000 Learners

Andela, the global talent network that helps companies build remote engineering teams, has announced Tuesday, a new milestone for its developer learning community. Andela Learning Community (ALC) has now surpassed 100,000 learners. Launched in 2017, Andela’s Learning Community (ALC) works with the belief that brilliance is evenly distributed

Quro Medical and Life Healthcare partner to provide hybrid healthcare delivery for Africans

Quro Medical and Life Healthcare partner to provide hybrid healthcare delivery for Africans

Quro Medical, a Johannesburg-based health tech startup that offers accessible and affordable healthcare for South Africans has secured undisclosed financing (PDF) from Life Healthcare (LHC), a leading international healthcare organization, and South Africa’s largest private hospital chain. This deal is coming after Quro Medical raised a $1.1 million

African Mobility startup, Plentywaka raise a $1.2M seed financing, acquires Ghana’s Stabus

African Mobility startup, Plentywaka raise a $1.2M seed financing, acquires Ghana’s Stabus

Plentywaka, an African mobility startup with a presence in Lagos and Toronto has secured a $1.2 million seed round to scale its operations, after graduating from the Techstars accelerator program last month. The round was led by a Canada-based VC firm, The Xchange. SOSV and Shock Ventures also participated

DR Congo Partners with Edtech Startup Schoolap to Digitize Its Entire School System

DR Congo Partners with Edtech Startup Schoolap to Digitize Its Entire School System

The government of DR Congo has announced a partnership with Schoolap to digitize the country’s entire education system. Schoolap was founded in 2017 by Pascal Kanik and Guy Jose Leta with the aim of digitization of education in the DRC. The platform has been able to provide students in

Kenya’s MarketForce raises further $100k funding from Harambeans Prosperity Fund

Kenya’s MarketForce raises further $100k funding from Harambeans Prosperity Fund

Kenyan e-Commerce startup MarketForce has announced it raised an additional $100k in funding from the Harambeans Prosperity Fund to the $2m pre-Series A round it announced last month. MarketForce is an end-to-end retail distribution platform founded in 2018 by the duo of Tesh Mbaabu and Mesongo Sibuti, Chief Executive Officer

Nigeria’s OPay raises $400m at $2bn valuation, led by SoftBank

Nigeria’s OPay raises $400m at $2bn valuation, led by SoftBank

Nigeria-based fintech company, Opay has raised $400 million in a funding round led by SoftBank Vision Fund 2, the venture capital arm of Japanese conglomerate, SoftBank. This investment signals the first time SoftBank Vision Fund is investing in an Africa-based startup. Existing investors like Sequoia Capital China, Redpoint China, Source

Egyptian auto-tech Startup, Odiggo raise $2.2m seed round from 500 Startups, Y Combinator and PlugAndPlay

Egyptian auto-tech Startup, Odiggo raise $2.2m seed round from 500 Startups, Y Combinator and PlugAndPlay

Odiggo, an Egypt-based auto-tech startup, has announced the close of a $2.2 million seed round from global Venture Capital firms; 500 Startups, Y Combinator and PlugAndPlay. Regional VCs like Seedra Ventures, LoftyInc Capital, and Essa Al-Saleh (CEO of Volta-Tucks) also took part in the round. Launched in December 2019

Egyptian Fintechs Can Benefit from Arab Bank’s AB Accelerator Funding Program

Egyptian Fintechs Can Benefit from Arab Bank’s AB Accelerator Funding Program

The Arab Bank has announced the launch of its fintech-focused corporate accelerator program “AB Accelerator” in Egypt. The expansion into Egypt by the Arab Bank is coming 3years after it successfully launched the AB Accelerator in Jordan in 2018. The program aims to help startups scale their market-ready fintech firms

Nigeria’s e-Commerce Startup Alerzo raises $10.5m to digitize informal retail supply chain in Nigeria

Nigeria’s e-Commerce Startup Alerzo raises $10.5m to digitize informal retail supply chain in Nigeria

Ibadan-based B2B e-Commerce startup Alerzo has announced it raised $10.5m in a Series A funding round to expand into northern Nigeria. The round was led by New York-based Nosara Capital. FJ Labs and several other investors across the U.S, Europe, and Asia also participated in the round. This

Standard Bank outlines plans to become ‘a digital platform business’

Standard Bank outlines plans to become ‘a digital platform business’

Standard Bank Group, Africa’s largest lender by assets is set to outline its ‘2025 Ambition’ – which includes plans to ‘transform ‘client experience’ and provide guidance for future financial targets. The bank is also poised on transforming into a platform for services beyond banking, it said on Friday. After years

Egyptian Mobility Startup SWVL acquires Spain’s Shotl, Expands Into Europe

Egyptian Mobility Startup SWVL acquires Spain’s Shotl, Expands Into Europe

Everything seems to be falling in place for the Egyptian mobility space as Swvl, a provider of transformative mass transit and shared mobility solutions operating in Egypt and Saudi Arabia, has announced its expansion to Spain after it acquired a controlling stake in Shotl, a Spanish mass transit platform. Shotl

South Africa Startups Can Benefit from the $20m JP Morgan Fund

South Africa Startups Can Benefit from the $20m JP Morgan Fund

Renowned global financial operator JP Morgan has announced a partnership with the Department of Trade, Industry and Competition of South Africa (DTIC), to invest a $20m fund to help small enterprises scale. The partnership will make JP Morgan the first multinational investment bank in South Africa to implement an Equity

South African Celebrity startup myFanPark raises funding from Seed South VC firm

South African Celebrity startup myFanPark raises funding from Seed South VC firm

South African celebrity engagement startup myFanPark has announced it secured an undisclosed amount of investment from new local VC firm Seed South to help it further expand. myFanPark was launched in 2019 to enable users to request a personalized shout-out video from their favorite celebrity, such as birthday or celebration

The HiiL Justice Accelerator accepts 4 Southern African legal-tech startups into its program

The HiiL Justice Accelerator accepts 4 Southern African legal-tech startups into its program

The Hague Institute for Innovation of Law (HiiL) has announced the four Southern African startups that will go on to the HiiL Justice Accelerator. HiiL is a social enterprise devoted to user-friendly justice, which aims to increase access to justice that is easy to access, easy to understand, and effective

South African Digital Bank, TymeBank, Expands To The Philippines, Records 3.5m Customers In 2 Years

South African Digital Bank, TymeBank, Expands To The Philippines, Records 3.5m Customers In 2 Years

South Africa based Fintech startup TymeBank, has announced that it is expanding its operations to the Philippines through its newly-established firm, GOtyme. Tymbank became South Africa’s first digital bank when it was launched in 2019 by the trio of Coen Jonker, Rolf Eichweber, Tjaart van der Waalt, TymeBank. The

Kenyan Insurtech Startup, AiCare, Secures Funding From NaiBAN

Kenyan Insurtech Startup, AiCare, Secures Funding From NaiBAN

Nairobi-based provider of telematics insurance system for insurance companies AiCare, has announced it secured funding from Nairobi Business Angels Network (NaiBAN). AiCare is an Insurtech startup launched in 2020 by co-founder and CEO Arthur Mulwa, AiCare focuses on providing telematics insurance products to Insurance companies. The startup leverages its in-house

Kenya’s CashBackApp Raises $475k pre-seed Funding Round for Expansion

Kenya’s CashBackApp Raises $475k pre-seed Funding Round for Expansion

Kenya based customer loyalty startup CashBackApp has announced it raised $475k in a pre-seed funding round. Investors in the round include Lofty Inc, Sherpa Ventures and Loyal VC, and several angel investors based in the US, UK, Nigeria and Kenya. CashBackApp was launched in 2018, to help consumer goods companies

Nigerian e-sports startup Gamr raises round of seed investment

Nigerian e-sports startup Gamr raises round of seed investment

Nigerian competitive e-sports startup Gamr has secured seed investment to scale its operations further and deliver new opportunities to Africa’s estimated 750 million gamers. Gamr is an online subscription platform that allows gamers to interact with each other and enables tournament organisers to host events. It also organises its

Egyptian Fintech Startup Fawry Expands Heya Fawry, Its Network Of Women Agents

Egyptian Fintech Startup Fawry Expands Heya Fawry, Its Network Of Women Agents

Egyptian fintech startup Fawry, has just announced the expansion of its ‘Heya Fawry’ initiative to increase poor and disadvantaged women’s access to life-enhancing digital financial services and greater economic opportunities. This development is in line with its mission to empower Egyptian women. The Heya Fawry platform will give women

Nigeria's Central Bank freezes the bank accounts of six fintech startups

Nigeria's Central Bank freezes the bank accounts of six fintech startups

A federal high court in Abuja, Nigeria, has on Tuesday granted the request of the Central Bank of Nigeria (CBN) to freeze the account of six fintech companies. The Fintech startups affected by the ex parte motion include Rise Vest Technologies, Bamboo Systems Technology Limited, Bamboo System Technologies Limited OPNS,

African fintech, Pngme raises $15M to develop its financial data infrastructure platform

African fintech, Pngme raises $15M to develop its financial data infrastructure platform

Pngme, a San Francisco and Africa based fintech infrastructure and machine learning-as-a-service platform has closed a $15 million Series A funding round. The round was led by Octopus Ventures with participation from Lateral Capital, Unshackled Ventures, Raptor Group, EchoVC, Future Africa, Two Small Fish Ventures, and a group of individual

P2P betting startup, Wayja goes live in South Africa

P2P betting startup, Wayja goes live in South Africa

Wayja, a South Africa based peer-to-peer (P2P) betting platform that allows users to connect with friends and place informal bets on anything from anywhere, has gone live. With the launch, the startup is already looking to raise seed funding and fast-track international growth. Founded in early 2020 by Reece Jacobsen