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South African payments startup Yoco secures $83M in a Series C round, backed by Dragoneer

South African payments startup Yoco secures $83M in a Series C round, backed by Dragoneer

Yoco, a South African payments, and software startup have announced the raise of $83 million in a Series C funding round to accelerate the development of its platform and expand internationally. One of the major backers in the round includes Dragoneer Investment Group, making its Africa investment debut. The fund

Kenya-founded Guidewheel raises $8m Series A for US expansion

Kenya-founded Guidewheel raises $8m Series A for US expansion

Nairobi-based manufacturing tech startup Guidewheel has announced it closed an $8m Series A funding round to power its ongoing expansion in the United States (US). The round was led by Greycroft and joined by leading firms, angels, and Fortune 500 executives Guidewheel was established in 2018 and operated as Safi

Uber Acquires Trucking Firm for $2.25-Billion

Uber Acquires Trucking Firm for $2.25-Billion

Uber Technologies has announced plans to acquire Transplace, a logistics company currently valued at $2.25-billion and owned by TPG Capital. Transplace was created in 2000, with contributions from some of the largest trucking companies in the world before it was acquired in 2017 by TPG Capital. According to the

PayQin raise €300K to grow its e-wallet service for the underbanked in West Africa

PayQin raise €300K to grow its e-wallet service for the underbanked in West Africa

PayQin, a cross-border payment startup that operates a comprehensive e-wallet service for the underbanked in West Africa, is announcing a new €300K seed investment round that takes the company’s funding up to $1 million. The startup has a tall ambition to reach one one million daily transactions in a

Egyptian proptech startup, Nawy raises Seed round from Sawiris Family Office

Egyptian proptech startup, Nawy raises Seed round from Sawiris Family Office

The Cairo-based prop-tech startup, Nawy, announced the raise of an oversubscribed seven-figure Seed round led by the Sawiris family office. Other participants in the investment round include notable angels, including Hatem Dowidar (renowned telecom leader and angel investor). Founded in 2016 under the brand name “Cooing” by Mohamed Abou Ghanima,

Luxembourg based Regmifa Secures Additional $10m Funding for Africa Startups

Luxembourg-based venture capital firm the Regmifa fund supporting African startups has announced it secured additional $10 million financial support from the Dutch development bank (FMO). The Regmifa fund was created by FMO in 2010 in Luxembourg, but with a primary focus on African SMEs. The FMO is a bilateral private-sector

54gene To Reinvest 5% of Proceeds From Commercial Drug Discovery Programs on African Scientists and Communities

54gene To Reinvest 5% of Proceeds From Commercial Drug Discovery Programs on African Scientists and Communities

54gene, the health technology company centered on advancing the field of African genomics to unlock scientific discoveries as well as improve diagnostic and treatment outcomes within Africa and the global community, is creating a trust which it will use to invest up to 5% of future proceeds from the company’

Bicycle-based delivery service Errand360 launches in Nigeria

Bicycle-based delivery service Errand360 launches in Nigeria

Bicycle community delivery startup Errand360 has been launched in Nigeria. The startup which is accessible via its mobile app serves users’ demand for quick and short errands within their communities and on-demand delivery services. The startup which was created by Adele Adetola will begin the first phase of rollout in

Ethiopia’s Dashen Bank strikes partnership with Thunes for cross-border payments

Ethiopia’s Dashen Bank strikes partnership with Thunes for cross-border payments

Dashen Bank, a leading financial institution in Ethiopia has partnered with Thunes, a Singapore-based global payments network, to facilitate the faster and cheaper remittance of money into Ethiopia from around the world. Through this partnership, customers and businesses in Ethiopia will be able to receive funds straight into their bank

African Cleantech Startups Invited to Apply for $11.5m Afri-Plastics Challenge

African Cleantech Startups Invited to Apply for $11.5m Afri-Plastics Challenge

Nesta Challenges has announced the launch of the Afri-Plastics Challenge. The Challenge will reward the best Cleantech startups with waste management solutions from throughout Sub-Saharan Africa for marine plastic waste in poor nations. The challenge aims to reduce the tonnes of plastic that end up in oceans and other water

What’s going on with the Nigeria Startup Bill?

What’s going on with the Nigeria Startup Bill?

On the 8th of May, a few members of Nigeria’s tech ecosystem together with the Presidency invited you to discuss the Nigeria Startup Bill. We reached out to you on short notice, only a few days to the time. Yet, over a hundred of you showed up. We held

African fintech company, Cellulant gets license to operate in Tanzania

African fintech company, Cellulant gets license to operate in Tanzania

Cellulant Corporation, a leading payment company in Africa has secured the approval of the Bank of Tanzania (BOT) to operate as a Payment Solution Provider in Tanzania. This approval was granted in principle after the telecom operator fulfilled all the requirements necessary for the approval. This approval makes Cellulant one

Jays Living Technologies Launches Nigeria’s First Item Finder startup, JaysFinder

Jays Living Technologies Launches Nigeria’s First Item Finder startup, JaysFinder

With the emergence of digitalization in our everyday life, there are bound to be times when we require assistance in getting to places, realizing where we are, and even remembering where we kept things. There is a need for tech systems that provides assurance of accurate navigation and location, this

South Africa Short-Term Insurtech Startup, Ctrl Secures $2.3m from Naspers

South Africa Short-Term Insurtech Startup, Ctrl Secures $2.3m from Naspers

South African short-term Insurtech startup, Ctrl, has announced it raised $2.3m from early-stage business funding initiative Naspers Foundry. Ctrl was founded in 2017 by Pieter Venter. The Insurtech startup is committed to offering digital short-term insurance advice to consumers, brokers, and insurers in the short-term insurance business. Basically, Ctrl

Vantage Capital closes 4th mezzanine fund worth $207m

Vantage Capital closes 4th mezzanine fund worth $207m

South Africa-based VC firm Vantage Capital has launched its fourth mezzanine fund. This fund will provide mid-sized African businesses with flexible capital that will enhance job creation and facilitate much-needed economic opportunities and growth. Founded in 2001, Vantage Capital is regarded as Africa’s largest mezzanine fund manager with offices

Patricia Relocates Headquarters to Europe

Patricia Relocates Headquarters to Europe

Three years old Nigerian Blockchain startup, Patricia has announced it is done with Nigeria and will be moving its headquarters to the Northern European country of Estonia. The announcement is coming after the startup has faced several unfavorable policies from the country’s regulators — SEC, and the CBN. Patricia was

UNDPTogo Launch $476k Annual Fund for Startups in Togo

UNDPTogo Launch $476k Annual Fund for Startups in Togo

The Support Fund for Economic Initiatives for Young People (FAIEJ) and the United Nations Development Program (UNDP-Togo) has launched the Togolese Facility for the Acceleration and ‘Innovation (FTAI) to provide $476k for young tech startups in the country. The platform aims to fund ambitious startups with innovative ideas, intending to

RxAll raise $3.15M to expand its drug checking and counterfeiting tech across Africa

RxAll raise $3.15M to expand its drug checking and counterfeiting tech across Africa

RxAll, a Nigerian health tech startup that uses deep technology to provide quality medication to patients, has announced the raise of $3.15 million to scale across existing markets and improve its technology. Founded in 2016 by Adebayo Alonge, Amy Kao, and Wei Lui, RxAll enables pharmacies and patients in

Nigeria’s SmartHotel Raises $1 Million Pre-A round to Expand its Services

Nigeria’s SmartHotel Raises $1 Million Pre-A round to Expand its Services

The Nigerian-based startup, SmartHotel, which develops software for the hospitality industry has secured a $1 million Pre Series A round to expand its services across Africa and Europe. The funding round was led by existing investor Smok Ventures, with support from LT Capital Ventures and Next Road Ventures. Other participants

South Africa’s home services Startup Kandua raises pre-Series A funding round

South Africa’s home services Startup Kandua raises pre-Series A funding round

Johannesburg-based home services eCommerce startup Kandua has announced it raised an undisclosed amount in a pre-Series A funding round to help it expand its product offering and grow further. The funding was raised by a group of investors including Knife Capital and Allan Gray E-Squared Ventures (AGEV). Kandua was founded

African Startups Invited to Apply for UNICEF Seed Funding

African Startups Invited to Apply for UNICEF Seed Funding

African tech startups have been invited to apply for UNICEF Innovation Fund’s $100K equity-free investments in early-stage startups. Interested startups must have a working business plan as well as the potential to help mankind in one of UNICEF’s program countries. The Innovation Fund’s main goal is to

Breyer Capital leads $1.5 million pre-seed investment in Chaka

Breyer Capital leads $1.5 million pre-seed investment in Chaka

Nigerian investment platform, Chaka has announced the raise of $1.5 million in a pre-seed funding round led by global VC firm, Breyer Capital. Other participants in the round include 4DX Ventures, Golden Palm Investments, Seedstars, Musha Ventures, and Iyinoluwa Aboyeji’s Future Africa. This is the second time in

Egyptian Healthtech Startup, Vezeeta, Expands to Nigeria, Kenya and Ghana

Egyptian Healthtech Startup, Vezeeta, Expands to Nigeria, Kenya and Ghana

Egypt-based Healthtech startup Vezeeta has announced it’s expanding its B2B SaaS pharmacy services to Nigeria, Kenya, and Ghana. The expansion is supported by TEAMFund, a US-based impact VC focused on promoting tech change and healthcare access in emerging economies. Vezeeta was founded in 2014 by Amir Barsoum and Ahmed

Egyptian Healthtech Startup Estshara Secures $500k In Seed Funding Round

Egyptian Healthtech Startup Estshara Secures $500k In Seed Funding Round

Cairo-based Healthtech startup Estshara has raised $500k funding from Egypt Ventures in a Seed fundraising round. Estshara is an e-health platform founded in 2018 by the duo of Amin El-Hemaily and Ahmed Mahmoud. The startup provides online health consultations and telepharmacy services. The pandemic and post-pandemic era have necessitated the

South African Fintech Startup Akiba Digital raises $1.1m pre-seed funding

South African Fintech Startup Akiba Digital raises $1.1m pre-seed funding

South African Fintech startup Akiba Digital has announced it raised over $1.1m in a pre-seed funding round led by Expert DOJO and Oui Capital. Other participants in the round include Basecamp Fund, Soma Capital, Hustle Fund, Future Africa, LoftyInc, a former PayPal executive, and a handful of angel investors.