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The Ouut's Highlight Of The Week

The Ouut's Highlight Of The Week

From Snoonu securing Series B funding in MENA to WI-Flix launching in Zambia and many more, here are the stories reported and analyzed by The Ouut this week. Dive into our Highlights of News Features and Interviews this week. East Africa • News/Analysis AN NISA, KENYA’S WOMEN-ONLY TAXI SERVICE
May 6, 2023 2 min read
UAE E-commerce Startup SQUATWOLF Receives $30M Investment From ASCA Capital 

UAE E-commerce Startup SQUATWOLF Receives $30M Investment From ASCA Capital 

UAE-based e-commerce startup SQUATWOLF, has received $30 million in investment from ASCA Capital Limited. The terms of the investment will see ASCA invest up to $30 million over time with a significant proportion being invested in the first 12 months to support its expansion plans. The fresh investment will help
May 5, 2023 2 min read
Blockchain for National Development: Nigeria’s National Blockchain Policy in Focus
blockchain technology

Blockchain for National Development: Nigeria’s National Blockchain Policy in Focus

Blockchain technology is not entirely new in Nigeria, having been used by the Central Bank of Nigeria and others over the years. However, the Federal Government of Nigeria’s recent approval of a national blockchain policy (NBP) is a significant step toward leveraging the transformative potential of blockchain technology to
May 5, 2023 4 min read
Old Mutual launches a Fintech business, Old Mutual Digital Services (ODMS)

Old Mutual launches a Fintech business, Old Mutual Digital Services (ODMS)

Zimbabwe is on the path of iterating its financial system as Old Mutual launches a Fintech business, Old Mutual Digital Services (OMDS). As one of the financial giants in Africa, Old Mutual decided to claim more territories to expand its scope of operation. Old Mutual Digital Services promises to provide
May 5, 2023 3 min read
Qatar Super App Snoonu Secures $12 Million in Series B Round 

Qatar Super App Snoonu Secures $12 Million in Series B Round 

Qatar-based super app Snoonu, has secured $12 million in a Series B round which is the first startup to raise such a round in the country. The round was spearheaded by the Qatar Development Bank and saw participation from undisclosed investors. Founded in 2019, Snoonu is Qatar’s first super
May 5, 2023 1 min read
UAE Fintech, Tarabut Gateway Raises $32 Million For  Saudi Arabia Expansion

UAE Fintech, Tarabut Gateway Raises $32 Million For  Saudi Arabia Expansion

UAE open banking platform, Tarabut Gateway has raised $32 Million in Series A funding to expand and recruit talents in Saudi Arabia. The funding round was led by Saudi-focused investment firm Pinnacle Capital while Aljazira Capital, Visa, Tiger Global and other existing investors participated in the round. Tarabut will use
May 4, 2023 1 min read
Why We Are Likely to See Less South African Startup Acquisition

Why We Are Likely to See Less South African Startup Acquisition

The acquisition of start-ups can provide the new business with a technological boost that gives it a competitive edge. The fact that this deal benefits both the company and the acquirer is a win-win. Acquirees have access to a larger pool of markets, resources, cash, and a very handsome payout
May 4, 2023 4 min read
Fashion in Tech: Five Online Marketplaces in MENA

Fashion in Tech: Five Online Marketplaces in MENA

French fashion designer Gabrielle “Coco” Chanel once said, “Fashion is not something that exists in dresses only. Fashion is in the sky, in the street, fashion has to do with ideas, the way we live, what is happening.” The fashion industry is a rapidly growing sector across the globe and
May 4, 2023 3 min read
Nigerian Gov’t Approves National Blockchain Policy
FEC

Nigerian Gov’t Approves National Blockchain Policy

The Federal Government of Nigeria, on Wednesday, approved the National Blockchain Policy. Minister of Communications and Digital Economy, Isa Pantami, made the disclosure while briefing newsmen after the weekly Federal Executive Council (FEC) meeting presided over by President Muhammadu Buhari at the state house in Abuja. The minister in his
May 4, 2023 2 min read
Again, African Tech Startups Funding in April Dipped by More Than Half 
African startups Funding in April

Again, African Tech Startups Funding in April Dipped by More Than Half 

The African startup scene appears to have hit a roadblock. As funding numbers in April continue in a not-so-impressive trajectory witnessed in the Q1 of 2023. Although this might be due to the global economic meltdown, tech layoffs, the collapse of SVB, and the current socio-political tension across the continent.
May 4, 2023 2 min read
Treepz Relaunches App as Africa’s Foremost Car-Sharing Marketplace
Car-Sharing Marketplace

Treepz Relaunches App as Africa’s Foremost Car-Sharing Marketplace

Treepz, the leading African mobility company, has launched a new innovation in Africa that reimagines car ownership and mobility on the continent. The company has re-launched its consumer-facing app as the first car-sharing marketplace in Nigeria, Ghana, Kenya, and Uganda, serving more than 26 million vehicle owners in Africa today.
May 4, 2023 3 min read
Wi-flix Brings Entertainment To Zambia

Wi-flix Brings Entertainment To Zambia

Entertainment in Zambia just got a facelift as Wi-flix in collaboration with MTN launched its streaming service in the country. This initiative promises to provide over 30,000 hours of entertainment to its Zambian audience. Wi-flix is a global streaming service, with its headquarters in the Netherlands. So far, it
May 4, 2023 2 min read
African Start-ups Take the Lead in the Milken-Motsepe Agritech Competition

African Start-ups Take the Lead in the Milken-Motsepe Agritech Competition

African start-ups take the spotlight as they emerged as the winners in this year’s Milken-Motsepe agritech competition. This is the flagship of the agritech competition held by The Patrice Motsepe Foundation and the US-based Milken Institute. The alliance between these two organizations is geared towards the use of advanced
May 4, 2023 3 min read
Food Crisis and Biotech to the Rescue
Agritech

Food Crisis and Biotech to the Rescue

Food insecurity and chronic hunger are major recurring problems that exist in developing countries. Several approaches, including biotechnology, have been explored to cope with emerging issues of climate change and natural disasters that handicap poorly funded farmers. The countries in Southern Africa, including Zimbabwe, Zambia, Mozambique, and Malawi, are the
May 4, 2023 3 min read
Israeli B2B Startup Aligned Raises $5.8 Million to Develop its AI Platform 

Israeli B2B Startup Aligned Raises $5.8 Million to Develop its AI Platform 

Israel-based B2B buyer-seller network, Aligned has raised $5.8 million in Seed funding to develop its AI customer engagement automated platform. Hetz Ventures and NFX led the funding round but saw participation from angel investors. The startup plans to use the funds to expand its team. There are also plans
May 3, 2023 1 min read
Vodacom rolls out 5G services in Mozambique

Vodacom rolls out 5G services in Mozambique

The internet service is better when it is faster. With the roll-out of the 5G network across the globe, most African countries have taken the initiative to improve their digital services. Mozambique has now become part of these countries through Vodacom’s 5G launch. The multinational company, Vodacom, has upgraded
May 3, 2023 2 min read
Iraqi Startup Midient Secures $125,000 in a Pre-Seed from Flat6Labs 

Iraqi Startup Midient Secures $125,000 in a Pre-Seed from Flat6Labs 

Iraqi SaaS startup Midient has secured a pre-Seed funding round worth $125,000 from Flat6Labs, MENA’s leading early-stage Venture Capital firm. Being Flat6Labs’ first investment in Iraq, Midient will use the fresh funds to widen its scope in Iraq and further develop its mobile app. Midient provides a mobile
May 3, 2023 2 min read
An Nisa, Kenya's Women-Only Taxi Service Platform, Records 10K Users, Eyes Saudi Expansion 
An Nisa

An Nisa, Kenya's Women-Only Taxi Service Platform, Records 10K Users, Eyes Saudi Expansion 

An Nisa, a Kenyan women-only taxi service platform, is revolutionizing the transportation industry by providing safe and reliable transportation options to women and children. Founded by Mehnaz Sarwar in 2018, the company has quickly gained traction and now has over 10,000 users in its home market. With plans to
May 2, 2023 2 min read
Nigeria's NOMBA Secures $30M in Pre-Series B to Provide Tailored Payment Services to Businesses
Base 10

Nigeria's NOMBA Secures $30M in Pre-Series B to Provide Tailored Payment Services to Businesses

NOMBA, a Nigerian fintech startup, formerly Kudi, has today announced raising $30 million to provide tailored-payment services to businesses. The San Francisco-based Base 10 Partners led the Pre-Series B investment round, with investment from existing investors like Partech and Khosla Ventures and new investors like, Helios Digital Ventures and Shopify
May 2, 2023 2 min read
UAE's E-commerce Startup Eighty6 Receives $3.7 Million Seed Round

UAE's E-commerce Startup Eighty6 Receives $3.7 Million Seed Round

UAE-based B2B e-commerce platform Eighty6 has received $3.7 million in a Seed round, from Sanabil 500 MENA Seed Accelerator Fund, a few GCC family offices as well as other investors. The startup plans to use the new funding to upgrade its technological capabilities, expand its operations within the UAE,
May 2, 2023 2 min read
Tunis e-commerce Startup Drest.tn Secures $366,000 For Other Market Expansion 

Tunis e-commerce Startup Drest.tn Secures $366,000 For Other Market Expansion 

Tunisian fashion e-commerce startup Drest.tn has secured $366,000 in a fundraising round from Tunis VC firm, 216 Capital Ventures. The fresh investment will accelerate the growth of the startup and help it expand into other African markets. Founded in 2022, Drest.tn is an online platform that offers
May 2, 2023 1 min read
The Ouut's Highlights Of The Week

The Ouut's Highlights Of The Week

Here is a round-up of the Stories that made up the news in the African tech ecosystem this week. You can also read up on some of our insightful Features and Interviews this week. Dive Right In. East Africa • News/Analysis WHAT TO EXPECT AS AFDB, AFN SIGN $525K GRANT
Apr 29, 2023 2 min read
What To Expect As AfDB, AFN Sign $525K Grant to Set Up Fintech Hub
AFDB

What To Expect As AfDB, AFN Sign $525K Grant to Set Up Fintech Hub

The African Development Bank (AfDB) and the Africa Fintech Network (AFN) have agreed to a $525,000 grant partnership to establish the Africa Fintech Hub, an online portal that will serve as a one-stop-shop for all fintech activities in Africa. The hub is a digital platform that will allow African
Apr 28, 2023 4 min read
Storspay, Nigeria's Fintech Startup Raises $320K, Selected For Techstars NYC
accelerator programme

Storspay, Nigeria's Fintech Startup Raises $320K, Selected For Techstars NYC

Nigerian fintech startup, Storspay has raised $320,000 in funding and has been selected to participate in the Techstars NYC accelerator programme. The startup has developed a decentralised retail lending infrastructure platform for the Internet. The platform is targeted at connecting retail investors seeking alternative asset investment opportunities with small
Apr 28, 2023 2 min read
Tunis Startup, Kumulus Among Winners of EBRD’s Startup Competition 

Tunis Startup, Kumulus Among Winners of EBRD’s Startup Competition 

Kumulus, a Tunisian startup that operates in the water industry is among the winners of the European Bank for Reconstruction and Development’s (EBRD) startup competition. EBRD AgVenture Challenge aims to support innovative early-stage agribusiness technology startups in the EBRD economies. The winners were announced at the EBRD Consumer Rules
Apr 28, 2023 1 min read
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