(Page 40)

Sign in Subscribe

Deal Source Africa Platform to bridge the $331 billion funding gap in Africa

Deal Source Africa Platform to bridge the $331 billion funding gap in Africa

The Deal Source Africa program was officially introduced during the West Africa Deal Summit in Accra. Its primary aim is to establish connections between African businesses and investors, deal advisors, as well as African Impact Funds and investors. The program aims to address the funding gap of $331 billion that

SA SME Fund raises Over $30m above it's Target for VC Fund of Funds

SA SME Fund raises Over $30m above it's Target for VC Fund of Funds

The SA SME Fund, which brings together government and business to stimulate economic growth has secured over $30m (R600 million) Venture Capital Fund. The standalone investment vehicle is pleased to announce that this amount exceeds the fund’s initial target of R500 million. The VC FoF’s appeal to institutional

Leveraging African Fintech Growth for Financial Inclusion

Financial Inclusion

Leveraging African Fintech Growth for Financial Inclusion

Africa’s fintech sector has held a commanding lead on all fronts in recent years. Despite taking a significant hit from the global VC downturn in 2022, it remains the most backed sector on the continent, receiving 38 per cent of total investment for the year, according to Briter Bridges.

Egypt’s Fintech, Paymob, Obtains Certification To Operate In Saudi Arabia

Egypt’s Fintech, Paymob, Obtains Certification To Operate In Saudi Arabia

Middle East, North Africa and Pakistan’s (MENAP’s) fast-growing fintech startup, Paymob has obtained Saudi Arabia’s Payment Technical Services Provider (PTSP) certification to fully operate in the Kingdom of Saudi Arabia. This development allows Paymob to provide its seamless, secure payment gateway services to merchants in KSA. In

Digital Birth and Death Registration Via eCRVS: Empowering Nigeria's Tech Sector & Boosting the Economy

digital birth and death register

Digital Birth and Death Registration Via eCRVS: Empowering Nigeria's Tech Sector & Boosting the Economy

Stewart Brand, a renowned American writer, once said, “Once a new technology rolls over you, if you’re not part of the steamroller, you’re part of the road.” True to it, in order to be prominently featured in the current tech revolution, the respective African governments have in recent

Saudi Furniture Marketplace Baytonia Closes First Seed Round

Saudi Furniture Marketplace Baytonia Closes First Seed Round

Saudi-based online furniture marketplace Baytonia has closed its first seed round spearheaded by Khwarizmi Ventures with participation from angel investors. However, the amount of funding was not disclosed. The startup will use the fresh funding to develop its customer experience and service and expand its high-quality product offerings across the

MasterCard Partners FCMB to Roll out Contactless Tap-on-Phone Payment Service in Nigeria

MasterCard Partners FCMB to Roll out Contactless Tap-on-Phone Payment Service in Nigeria

Mastercard has partnered with First City Monument Bank (FCMB) and Netplus to introduce a contactless payment service called Tap-on-Phone in Nigeria. This innovative technology revolutionises how consumers, merchants, and financial institutions process payments by enabling seamless transactions without needing physical contact with a device at the Point-of-Sale (POS). It enables

Why Grey Sites its East African Hub in Kenya

East African hub

Why Grey Sites its East African Hub in Kenya

Grey, a Nigerian fintech startup has sited its East African hub in Kenya in its quest to expand operations in the region. The YC-backed startup has now joined Flutterwave, its fellow compatriot who recently chose Kenya as its East African regional headquarter. This is rather a strategic move by these

A Glimpse Of Jordan's Digitization Efforts So Far

A Glimpse Of Jordan's Digitization Efforts So Far

Jordan is one of the smallest countries in the Middle East yet making significant strides towards becoming a digitized country. Even though there is little report about the nation’s tech ecosystem, the Information Communications and Technology (ICT) sector in Jordan is among the fastest growing sectors in the economy,

uLesson's Miva Open University Approval: A Catalyst for Nigerian Educational Sector Transformation

uLesson's Miva Open University Approval: A Catalyst for Nigerian Educational Sector Transformation

uLesson, a Nigerian edtech giant, has recently announced its foray into the tertiary education sector having been granted an Open Distance eLearning License for Miva Open University. The license, awarded by the Federal Executive Council (FEC) following a recommendation from the National Universities Commission (NUC) presents a significant opportunity to

The Emerging Trend of Climate-tech Startups in Africa

The Emerging Trend of Climate-tech Startups in Africa

Climate change is a serious issue that is impacting numerous lives globally. Warmer temperatures, sea level rise and extreme weather have already led to damaged property and critical infrastructure. In addition, the well-being and economic sectors, including agriculture, forestry, fisheries, and tourism, have suffered adverse consequences. All these have led

SA Cybersecurity Company, Port443 Secures Undisclosed Funding for Expansion

SA Cybersecurity Company, Port443 Secures Undisclosed Funding for Expansion

Tech start-ups have varying focuses, with some serving consumers directly and others specializing in providing services for the systems that serve consumers. Port443, a South African cybersecurity company offering such services, recently received undisclosed funding from Iziko2.0 and RMB Ventures. Port443 specializes in security automation and integrations, offering software

UAE's LegalTech Clara Secures Investment From Plug and Play

UAE's LegalTech Clara Secures Investment From Plug and Play

UAE-founded legaltech startup Clara has secured an undisclosed investment from the global innovation platform, Plug and Play. In addition to the investment, the legal tech startup has entered a partnership to provide access to its range of products to startup founders in Plug and Play’s ecosystem. Founded in 2018,

Plug and Play Reinvests On Morocco-Based B2B E-commerce Startup Chari

Plug and Play Reinvests On Morocco-Based B2B E-commerce Startup Chari

Plug and Play has invested a second round in the Moroccan e-commerce platform, Chari. However, the amount invested was not disclosed. The commitment in Chari forms part of Plug and Play’s inaugural cohort in Morocco in collaboration with the Mohammed VI Polytechnic University and Startgate. Chari is an e-commerce

Gricd Rebrands As ‘Figorr,’ Receives $1.5M From Atlantica Ventures-Led Seed Round

Atlantica Ventures

Gricd Rebrands As ‘Figorr,’ Receives $1.5M From Atlantica Ventures-Led Seed Round

Figorr, formerly Gricd, has successfully secured $1.5 million in seed funding to expand its operations across Africa. The funding round was led by Atlantica Ventures, with participation from Vested World, Jaza Rift, and Katapult. This significant investment will allow Figorr to develop new solutions that streamline the insurance process

SA, Insuretech, Root Expands its operations to the UK

SA, Insuretech, Root Expands its operations to the UK

Cape-town based Insurtech has decided to spread its roots across continental borders. Root has selected the UK as its next destination for offering digitized insurance services. The company is looking to grow and establish a presence in other parts of the world. The insurtech company has a team of 50

MBZUAI Enters Partnership with OurCrowd Arabia

MBZUAI Enters Partnership with OurCrowd Arabia

The UAE’s Mohamed bin Zayed University of Artificial Intelligence (MBZUAI) has entered a partnership with Israeli VC fund OurCrowd, to promote the growth of the university’s AI technology ecosystem. The Memorandum of Understanding (MOU) will create an AI-focused VC fund to attract local and global AI technology startups

How M-KOPA Plans to Utilise its $250M Bumper Round

fintech startup

How M-KOPA Plans to Utilise its $250M Bumper Round

M-KOPA, one of Africa’s leading fintech startups, has announced the successful closing of a $250 million debt and equity funding round. M-KOPA will leverage the investment to double down on its financial services offerings to underbanked consumers across Sub-Saharan Africa, cementing the company’s position as a key player

Bahrain's Thriving Startup Ecosystem

Bahrain's Thriving Startup Ecosystem

Bahrain has been actively working to develop a thriving startup ecosystem over the past few years and has made significant progress towards this goal. The country’s startup scene is growing at a rapid pace, especially in industries such as software development, e-commerce, fintech, cybersecurity and health. According to reports

Digital Payments Reign Supreme in Africa as Mobile Transactions Surge by +22%

Digital Payments

Digital Payments Reign Supreme in Africa as Mobile Transactions Surge by +22%

Africa has recently emerged as a central hub for the ongoing digital revolution. Digital payments in the region alone accounted for roughly two-thirds of global value in 2022. According to the State of the Industry Report on Mobile Money 2023, the value of mobile transactions in 2022 reached a staggering

DigsConnect Secures Undisclosed Sum of Money from Intaba Capital

DigsConnect Secures Undisclosed Sum of Money from Intaba Capital

Obtaining lodging in a school setting can pose challenges, particularly if unfamiliar with the surroundings. DigsConnect has simplified this process by enabling students to find accommodation without the involvement of an agent. Consequently, DigsConnect, a housing start-up has received an undisclosed sum of money from Intaba Capital for its ongoing

Wasoko Expands to Southern Africa, starting with Zambia

Wasoko Expands to Southern Africa, starting with Zambia

Wasoko, an African e-commerce company that delivers goods to retailers, has kicked off operations in Zambia. Zambia is the first southern African country to have its retailers benefit from the same-day order and delivery service for free. Wasoko, formerly Sokowatch, enables informal retailers to order products for free, same-day delivery

Israel's AnD Ventures Closes First Fund at $70 Million

Israel's AnD Ventures Closes First Fund at $70 Million

Early-stage VC firm, AnD Ventures has closed its first fund at $70 million. The fund backs Israeli-based founders and Pre-Seed ventures via its Studio model and Seed companies through its fund. Investments in the startups range from $100,000 to $200,000 while AnD’s studio investments range from $1-3

UAE Fintech TWIG Secures Seven-figure Pre-Seed Round to Develop its Savings Platform

UAE Fintech TWIG Secures Seven-figure Pre-Seed Round to Develop its Savings Platform

UAE-based fintech TWIG has secured a pre-Seed round from Phoenician VC, MMK Capital, Soul Ventures, regional family offices and other angel investors. The exact amount was undisclosed but exceeds $1 million. The startup will use the fresh investment to expand in the region and further develop its savings platform which

Unlocking the Potential: Opportunities in the Africa's Thriving Mobile App Market

Unlocking the Potential: Opportunities in the Africa's Thriving Mobile App Market

Africa’s mobile app market has experienced a remarkable surge in growth in recent years. This creates numerous opportunities for the continent’s technology sector. Africa is experiencing a digital revolution that is transforming the way people connect, transact, and entertain themselves, with an impressive increase in monthly active users