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Canva reaches $15billion valuation after raising $71billion in new funding round

Canva reaches $15billion valuation after raising $71billion in new funding round

Australia-based Design startup, Canva, announced on Tuesday 6th of April that it has raised $71 million in new funding led by T. Rowe Price and Dragoneer at a $15 billion valuation. Other investors who took part in the round include previous investors, Blackbird Ventures, and Skip Capital. Canva, which says

Enygma Ventures Announces Funding Call for Female Entrepreneurs in Africa

Enygma Ventures Announces Funding Call for Female Entrepreneurs in Africa

Enygma Ventures, a US venture capital company that invests in selected startups and SMEs in Africa has taken up the challenge to assist female-founded businesses and entrepreneurs in Africa. Enygma Ventures is a unique purpose-driven investment fund, led by award-winning entrepreneurs that have been scaling businesses in Africa, Europe, and

Applications open for Jack Ma’s Africa’s Business Heroes competition

Applications open for Jack Ma’s Africa’s Business Heroes competition

Jack Ma’s Foundation flagship philanthropic program in Africa which annually awards 10 outstanding finalists with a share of a US$1.5 million grant is here again. This is the third that Africa’s Business Heroes competition will be creating a platform that African startups can showcase their talent

Clubhouse launches payments for creators, plan to roll out Android App soon

Clubhouse launches payments for creators, plan to roll out Android App soon

Audio-chat platform, Clubhouse has announced the introduction of a payment feature that will allow users to tip their favorite speakers or creators on the platform. In what the company described as the “first of many features”, this new feature will allow creators to receive payment directly on the Clubhouse app.

Egyptian VC firm, Algebra Ventures launches $90M fund for startups in Egypt

Egyptian VC firm, Algebra Ventures launches $90M fund for startups in Egypt

Cairo-based Venture Capitalist firm, Algebra Ventures, has today announced the launch of its $90 million investment fund. This is coming on the heels of a $54million investment fund that was closed 4years ago. With this new funding round, the firm hopes to have raised $144million when this second fund closes

Sparkle launches feature to empower SMEs

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Sparkle launches feature to empower SMEs

Sparkle, a Nigerian Fintech company has launched its Sparkle Business– a platform to help Small and Medium Enterprises (SMEs) access products and services necessary for the digital enhancement of their businesses. Since SMEs form the highest employers of labor in Nigeria, they must be afforded all necessary opportunities needed for

Egypt based Sawari Ventures Receives $69 million Funding

Egypt based Sawari Ventures Receives $69 million Funding

Cairo based venture capitalist firm Sawari Ventures announced that it closed a $28m funding from Misr Insurance Group, Kuwait Investment Authority’s Ekuity, National Bank of Egypt, Banque Misr, Banque du Caire, and Suez Canal Bank, after it had previously raised $41 million from the European Investment Bank and other

14 Ghanaian startups selected for MEST Express Accelerator

14 Ghanaian startups selected for MEST Express Accelerator

The Meltwater Entrepreneurial School of Technology (MEST)- a pan-African training programme, seed fund and incubator for technology entrepreneurs in Africa, providing critical skills training in software development, business and communications, in partnership with the Mastercard Foundation, has announced the admission of 14 startups for the first 2021 cohort of

$1.2million Worth of Funding Launched by The African Enterprise Challenge Fund

$1.2million Worth of Funding Launched by The African Enterprise Challenge Fund

The African Enterprise Challenge Fund(AECF) recently launched a USD1.2 million worth of innovation fund. The AECF is a development institution that helps businesses and startups alike to be more creative with their ideas. They aim to make available sustainable incomes in Africa, especially in the rural and marginalized

Pricepally has raised a six-digit pre-seed funding round to help it consolidate its early growth

Pricepally has raised a six-digit pre-seed funding round to help it consolidate its early growth

Though Nigeria boasts as the largest economy in Africa with a GDP of about USD$441billion, the country has not been without its own challenges. Over the last five years, the country has survived two recessions that have occasioned a surge in the inflation rate of the country. This has

Enygma Ventures Partners with Startup Circle

Enygma Ventures Partners with Startup Circle

The need for business-building capability both at the entrepreneur and investor level increases the need for more venture capitalist and accelerator firms in Africa. Because most startups lack appropriate strategies and business plans, management and organization, cash flow and financial skills, internal systems, and governance, venture capitalist firms provide them

South African security tech startup, AURA, expands to the UK

South African security tech startup, AURA, expands to the UK

Weeks after launching its East African office in Kenya, South African-based security tech start-up and medical platform, AURA, announced it would be expanding its product offering globally, starting with the UK market. This expansion will see the innovative South African startup offer its state-of-the-art security response services to support the

Airtel Africa Receives $100 million Investment from MasterCard

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Airtel Africa Receives $100 million Investment from MasterCard

Two week after TPG’s Rise Fund invested $200m in Airtel Africa, the company has announced that it will receive an extra $100m from global payments provider MasterCard. In a statement released, Airtel Africa and MasterCard have “extended commercial agreements and signed a new commercial framework which will deepen their

Nedbank, two other SA Banks launch Apple Pay for users

Nedbank, two other SA Banks launch Apple Pay for users

Digital mobile payment platform Apple Pay is now available in 3 South African Banks namely Nedbank, Absa, and Discovery Bank. The platform which was quietly launched in the country makes South Africa the first country in Africa to get Apple Pay support. The new Apple Pay feature is a secure,

NALA expands remittance services to East Africa

NALA expands remittance services to East Africa

In Tanzania, mobile money services can be relatively difficult to use due to unstable internet and high service fees. Africa still remains the most expensive continent to send money to, due to convoluted payment systems and lack of infrastructure. Benjamin Fernandes noticed this as a national television host while building

Uganda’s Tugende secures $3.6M funding to meet the demand for its asset finance products

Uganda-based technology-enabled asset finance company Tugende announced today that it has secured $3.6 million in a Series A extension round. According to the company, this new funding follows the $6.3 million raised in November 2020 that was led by Toyota Tsusho investment fund Mobility 54. This brings Tugende’

Accelerex Secures License to offer Ghanaians more Digital Payment Options

Frontline pan-African fintech company, Accelerex Ghana, has hit a new milestone, by securing an enhanced Payment Service Provider (PSP) license from the Bank of Ghana (BoG), under the Payment Systems and Services Act, 2019 (Act 987). This makes Accelerex Ghana the only fintech organization currently within the enhanced PSP category

African startups can now apply for Extreme Tech Challenge (XTC) 2021

African startups can now apply for Extreme Tech Challenge (XTC) 2021

The Extreme Tech Challenge XTC is the world’s largest social innovation startup competition which has been enabling innovators unleash their full potential. It offers startups and innovators global visibility by offering a platform to pitch their startups to thousands of tech leaders and investors at regional and global competitions.

Insurtech Startup Curacel raises $450,000 Pre-seed Funding from Atlantica Ventures and Consonance Capital

Insurtech Startup Curacel raises $450,000 Pre-seed Funding from Atlantica Ventures and Consonance Capital

Lagos based Insuretech startup, Curacel has raised $450,000 in a pre-seed funding round led by Atlantica Ventures and Consonance Capital with participation from Kepple Ventures and other African angel investors. The startup which was founded by Henry Mascot and John Dada in 2017 uses its AI-powered platform for claims

TalentQl joins Techstars amid Plans to Expand

TalentQl joins Techstars amid Plans to Expand

Nigerian talent recruitment startup, TalentQl, has today announced its entry into the Techstars Toronto accelerator. TalentQl has been committed to providing clients with easy and quick access to vetted tech talents who will be the right fit for their organisations. In November 2020, when TalentQl launched by Adewale Yusuf, Sultan

Payflex Launches Buy Now Pay Later Feature in South Africa

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Payflex Launches Buy Now Pay Later Feature in South Africa

Shop Now, Pay Later solutions are a proven way to increase sales for merchants, and with Fintech startups offering digitalized measures for modern commerce, there is no telling on how much commercial activities will increase in Africa. Johannesburg-based Fintech startup Payflex has launched the buy now pay later for local

Savyt Set to Provide Investors Up To 15% on Savings & Investment

Savyt Set to Provide Investors Up To 15% on Savings & Investment

The average interest on the normal savings account in Nigeria has been stable at 4.06% per annum for the most part of 2020. In August 2020, the Central Bank of Nigeria (CBN) instructed deposit money banks in Nigeria not to pay less than 1.25% in interest on savings

SA Biomedical Engineering Startup Receives Funding from Futuregrowth

SA Biomedical Engineering Startup Receives Funding from Futuregrowth

South African based multi-medical device development startup, Impulse Biomed, has secured an undisclosed amount in a venture capital investment towards developing its innovative medical device. The investment was made by South African based asset management firm, Futuregrowth. Known for making late-stage venture capital investments, this will be the first time

5 Nigerian Fintech Startups Selected for Labs by ARM Accelerator

5 Nigerian Fintech Startups Selected for Labs by ARM Accelerator

Startup accelerator funds have been the force upholding African startups over the years and inspite of the numerous funds generated by startups in the African tech space in March 2021; it still brings heartwarming smiles when we get to hear of another startup receiving fund. Today, it is news of

Kenya’s Safaricom launches 5G network

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Kenya’s Safaricom launches 5G network

When Safaricom launched its 4G service in 2015, what followed was great expansion and increase in revenue, fast-forward to 2020 and it had tripled its revenue from $160million to $450million. With the new plans to launch the company’s 5G technology trials for its customers in Kenya which will begin