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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

E-health start-up, Quro Medical Secures $1.3 million (ZAR25 million) from Mineworkers Investment Company (MIC)

E-health start-up, Quro Medical Secures $1.3 million (ZAR25 million) from Mineworkers Investment Company (MIC)

The South African health sector has once again shown significant progress as Quro Medical makes the news. The e-health start-up has raised ZAR 25 million (US$1.3 million) in funding from the Mineworkers Investment Company (MIC). With this investment, Quro Medical aims to provide traditional medical aid at a

Second Round for The GSMA Climate Resilience Fund Is Now Open For Applications

Second Round for The GSMA Climate Resilience Fund Is Now Open For Applications

The issue of climate change has led to a severe global crisis that has resulted in the destruction of nations and the displacement of countless individuals. To this end, the second phase of the GSMA Innovation Fund for Climate Resilience and Adaptation is now underway. The fund supports tech start-ups

Belgium's Deliverect Acquires UAE’s ChatFood oT Support MENA Expansion

Belgium's Deliverect Acquires UAE’s ChatFood oT Support MENA Expansion

Belgium-based Saas startup Deliverect has acquired UAE’s food ordering platform ChatFood, in a move to expand to the MENA region. However, the amount of the acquisition was not disclosed. By combining social, dine-in QR, direct channel ordering, and online food delivery, this acquisition offers the restaurant industry a comprehensive

How Sary Is Reinventing Saudi's Wholesale Marketplace

How Sary Is Reinventing Saudi's Wholesale Marketplace

Gone are the days when businesses would consult a middleman to buy wholesale merchandise from a manufacturer. Thanks to the advent of technology, wholesale businesses are being migrated to the Internet termed e-commerce over the past twenty years. However, the COVID-19 pandemic has accelerated the shift towards e-commerce across the

Safaricom Ethiopia Gets Licence to Roll out M-Pesa Services

Safaricom Ethiopia Gets Licence to Roll out M-Pesa Services

Safaricom, East Africa’s telecom giant, has received central government approval to launch M-Pesa in Ethiopia. The telco’s official “payment instrument issuer licence” will allow it to launch mobile money services before the end of the year. The telco officially launched its Ethiopian service in 2022 with a ten-city

Kenyan Agritech Startup, iProcure Partners FtMA to Expand into Tanzania

Kenyan Agritech Startup, iProcure Partners FtMA to Expand into Tanzania

iProcure, a leading African agricultural input supply startup based in Kenya, has partnered with Farm to Market Alliance (FtMA) to expand its operations into Tanzania. FtMA is a consortium of public and private institutions focused on increasing the income and resilience of smallholders. It also boosts commercial viability throughout the

Egypt's DisrupTech Secures $5 Million From Proparco To Develop Fintech Sector

Egypt's DisrupTech Secures $5 Million From Proparco To Develop Fintech Sector

Egyptian Venture Capital (VC) firm DisrupTech has raised $5 million from Francophone company Proparco to support the growth in Egypt’s fintech sector. The investment will provide seed capital to 28 start-ups offering financial technology services. Launched in 2021, DisrupTech backs early-stage Fintech and Fintech-enabled digital services startups in Egypt.

Egypt's Fintech Startup Balad Secures Seven-Figure Pre-Seed Round Led By Acasia Ventures

Egypt's Fintech Startup Balad Secures Seven-Figure Pre-Seed Round Led By Acasia Ventures

Egypt-based fintech startup, Balad has secured a seven-figure pre-Seed round led by Egyptian venture capital, Acasia Ventures. Other investors that participated in the round include; Launch Africa, Future Africa, V&R, Magic Fund, First Circle, Sunny Side, and other family offices. The fintech plans to use the investment to

No More Stellar Performance from Fintech. What’s Taking Over?

No More Stellar Performance from Fintech. What’s Taking Over?

Technology has advanced significantly over the last several decades, notably with the rise of the internet and mobile devices. This has increased in the establishment of Fintech and other tech firms. These tech firms through their innovations produce novel goods and services. Globally, tech startups and the venture capital ecosystem

Egypt's Helpoo Receives Undisclosed Funding from Saudi Mobility Platform, Morni

Egypt's Helpoo Receives Undisclosed Funding from Saudi Mobility Platform, Morni

Egyptian mobility startup Helpoo has received undisclosed funding from its counterpart Saudi Arabian mobility solutions company, Morni. The deal was processed by a leading investment provider as well as a mergers and acquisition (M&A) advisory firm, ExitsMENA. Helpoo will leverage on the investment to strengthen its market footprint,

Payment24 Announces Expansion Into New Geographies in North America and Europe

Payment24 Announces Expansion Into New Geographies in North America and Europe

Payment24, a technology firm with its headquarters in South Africa, has expanded into the North American and European markets as it continues to pursue its growth objectives. Payment24, a worldwide platform provider based in Cape Town that specializes in payment and loyalty solutions, today announced its entrance into the two

Medical Translation App Wins the 4th Season of the Game of Learners

Medical Translation App Wins the 4th Season of the Game of Learners

A team of four university students has won the fourth edition of the Game of Learners (GOL) competition by developing an innovative medical language translation app. The solution, named ‘Jambo Care,’ can translate the local dialect into English or Kiswahili, enabling doctors to diagnose patients’ symptoms remotely more efficiently. Also,

Tati Software Launches WhatsApp-based ChatGPT, MobileGPT

Tati Software Launches WhatsApp-based ChatGPT, MobileGPT

A smartphone-based version of ChatGPT called MobileGPT, has been developed by local software development company Tati Software. The software uses OpenAI’s technology to give WhatsApp users access to the chatbot’s artificial intelligence (AI) tools. According to Tati Software, the AI-powered chatbot gives WhatsApp users access to key features

South African Fintech Startups can Apply for the VISA Everywhere Initiative

South African Fintech Startups can Apply for the VISA Everywhere Initiative

Local fintech startups are invited to take part in this year’s Sub-Saharan Africa edition of the Visa Everywhere Initiative (VEI) by the payments company Visa. Start-ups are required to improve their own product offerings while also finding solutions to payments and commerce problems as part of the global innovation

The Realities of Female-Led Tech Startups In MENA

The Realities of Female-Led Tech Startups In MENA

As the days go by, more startups spring up but males make up the majority of founders. Historically, the Middle East and North Africa (MENA) region is a unique society, dominated by men in almost all sectors of life including business. A decade review between 2010 to 2020 from UNICEF

Fingo Partners Ecobank to Launch Kenya’s First Neobank

Fingo Partners Ecobank to Launch Kenya’s First Neobank

Fingo, a Kenyan fintech startup, has partnered with Ecobank to launch the first neobank in Kenya. The digital bank focuses on empowering young Africans with uniquely designed financial products to create a wealthier Africa. Also, it is built to provide free peer-to-peer transactions and immediate access to several services like

Africa in the Digital Age: Data Protection and Privacy in Focus

Africa in the Digital Age: Data Protection and Privacy in Focus

Africa, like the rest of the world, is undergoing a digital revolution. With increasing digitalisation, internet penetration, e-commerce adoption, and growth in the use of digital platforms, data protection, and privacy are more important than ever. As Africa moves toward a cashless economy, financial inclusion, and an overall digital economy,