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Turkish ride-hailing startup, Volt Lines announces closing of carve-out round

Turkish ride-hailing startup, Volt Lines announces closing of carve-out round

The Turkey-based ride-hailing startup, Volt Lines has closed its carve-out round, with a 30 percent oversubscription, after separating from SWVL in January. The round will help Volt Lines to achieve its short-term objective of attaining positive free cash flow by the end of 2023. Founder and CEO, Ali Halabi said,

How the Kenyan Gov't Can Mitigate the Number of Failed Startups in the Country

How the Kenyan Gov't Can Mitigate the Number of Failed Startups in the Country

In the last year, tech startup shutdowns have become a recurring phenomenon in Kenya’s tech startup ecosystem, with Zumi, a B2B e-commerce startup, announcing this week that it has once again permanently closed its operations due to an inability to raise the necessary funding to sustain its operations. The

South Africa’s Declining Tech Hiring Space Must not be Overlooked

South Africa’s Declining Tech Hiring Space Must not be Overlooked

2023 did not start with the buzz that came with 2022. The global tech space was humbled by recurring layoffs with stakeholders looking skeptical to invest as a result of a devastating inflation. Amidst this, the entire global tech industry is earnestly waiting for a return to normalcy. Along with

Kenya’s ELR Court Bars Meta and its Outsourcing Partner, Sama from Firing 260 Kenyan Content Moderators

Kenya’s ELR Court Bars Meta and its Outsourcing Partner, Sama from Firing 260 Kenyan Content Moderators

Meta, the parent company of social media platform Facebook, and its outsourcing partner Sama have been barred from firing content moderators in Kenya by the country’s Employment and Labor Relations Court. The emergency court order also prevents Meta from hiring a new outsourcing firm to handle content moderation while

Rwazi, African-focused Market Intelligence Startup, Raises $4M Seed to Scale its Product and Expand

market insights

Rwazi, African-focused Market Intelligence Startup, Raises $4M Seed to Scale its Product and Expand

Rwazi, a market intelligence startup, has secured $4 million in seed funding to scale its platform in emerging markets, including Africa, South Asia, and Latin America. The startup provides market insights backed by data collected directly from consumers, allowing local and international brands to establish their presence or expand into

Bahrain proptech, Estater secures $5 million in series A round

Bahrain proptech, Estater secures $5 million in series A round

Bahrain-based property technology startup, Estater has secured a $5 million Series A round from undisclosed investors from Saudi Arabia and Bahrain. Estater plans to use the new funds to develop its product, grow its internal team and enhance its technology infrastructure to attract new customers. Co-founder from Kuwait, Mahmoud AlJarrah

Inside South Africa’s Burgeoning Legal Tech Sector

Inside South Africa’s Burgeoning Legal Tech Sector

Technology-driven innovation aimed at streamlining the practice of law has led to the creation of legal startups. Afriwise’s 2020 Tech for the Law Sector Study states that 77.5% of respondents think the COVID-19 epidemic would result in some kind of reform. The legal profession requires precise and frequently

How FSAT Labs Incubation can Drive a Sustainable Startup Ecosystem in South Africa

How FSAT Labs Incubation can Drive a Sustainable Startup Ecosystem in South Africa

South Africa’s FSAT Labs incubator has announced the selection of 16 start-ups for its tenth cohort, with a focus on empowering women and climate-tech entrepreneurs. The six-month incubation program for the FSAT Labs cohort will begin in April and end in October. Due to the Covid-19 pandemic, FSAT Labs,

UAE's fintech Credable secures $2.5 Million seed round

UAE's fintech Credable secures $2.5 Million seed round

UAE-based fintech Credable has secured a $2.5 million seed round led by Ventures Platform and Egypt-based VC firm, Acasia Ventures formerly Cairo Angels. The startup will use the funds to launch Credable’s product pipeline across Tanzania, Uganda, and Kenya, grow its team as well as scale the company’

Morocco's e-commerce startup, Chari rolls out new chain of B2B stores for locals

Morocco's e-commerce startup, Chari rolls out new chain of B2B stores for locals

Morocco-based e-commerce startup Chari has rolled out a new chain of B2B stores to meet the demands of local grocery stores. The startup has already opened its first two stores on March 16, in Casablanca and el Jadida, Morocco, and plans of opening 100 stores by 2024. Co-founder of Chari,

Saudi Venture Capital unveils new fund to support fintech startups

Saudi Venture Capital unveils new fund to support fintech startups

The Saudi Venture Capital (SVC) in collaboration with Capital Market Authority has unveiled ‘Investment in Fintech VC Funds’ to raise funds for startups. The funds will be used to stimulate and sustain financing for startups and SMEs from pre-Seed to pre-IPO by investing $1.6 billion through investment in funds

Factor[e] Ventures Launches Delta40: Examining How Venture Studios Could Support the Underserved African Tech Startups

Factor[e] Ventures Launches Delta40: Examining How Venture Studios Could Support the Underserved African Tech Startups

The African tech startup ecosystem has been gaining momentum and rapidly growing over the past few years, with an increasing number of startups emerging in various sectors, and several global investors and tech giants have shown an interest in tapping into the potential of the African market. However, despite the

Burger Index Raises $1.3m Seed Round to expand Services in Africa

Burger Index Raises $1.3m Seed Round to expand Services in Africa

Burger Index, a Spanish AI startup, has announced it secured $1.3 million in a seed funding round led by Flat6Labs, a leading venture capital firm in the Middle East and North Africa region, which also included F Capital and Cosmin Manea, a founding partner at Instashop. The startup intends

Only 36% of South Africans have retirement funds. How can Startups Improve This?

Only 36% of South Africans have retirement funds. How can Startups Improve This?

Planning for retirement may be a stressful process, especially in today’s environment of uncertain market conditions and generally higher costs of living. You often worry if the amount of money you put into retirement savings, whether it be a lump sum or a monthly commitment, is actually enough for

Côte d’Ivoire Sets to Deepen its Tech Ecosystem as it Unveils Startup Act

Côte d’Ivoire

Côte d’Ivoire Sets to Deepen its Tech Ecosystem as it Unveils Startup Act

Côte d’Ivoire has announced a new legal framework, the Ivorian Startup Act, which is awaiting parliamentary approval, as the West African nation continues on its bold step to join countries like Nigeria and a few other African countries to enact a startup law to drive the nation’s tech

Liquid Intelligent Technologies Acquires Cysiv MEA to Expand into MENA

Liquid Intelligent Technologies Acquires Cysiv MEA to Expand into MENA

Liquid Intelligent Technologies, a subsidiary of Cassava Technologies, a pan-African technology group, has today announced the acquisition of an Egyptian Cysiv MEA, formerly SecureMisr which provides enterprise cloud and cyber security services to some of Egypt’s leading companies, particularly in the financial services sector to extend its operations into

Saudi's health-tech startup, Aumet acquires $7 million pre-series A funding

Saudi's health-tech startup, Aumet acquires $7 million pre-series A funding

Saudi Arabia-based healthcare technology startup, Aumet has acquired a $7 million pre-Series A funding round. The round came from Tokyo-based healthcare-focused venture capital, AAIC, the Swiss PE firm AIJ Holdings, Hamad Ali Sagri family office, Tijah Holdings, Cigalah Group, and existing investor Shorooq Partners. The startup will use the funds

Huawei's Wi-Fi 7 set to Deepen Internet Penetration and Accelerate Shift to Wireless Connectivity in East Africa

Huawei's Wi-Fi 7 set to Deepen Internet Penetration and Accelerate Shift to Wireless Connectivity in East Africa

East Africa has seen a significant increase in the adoption of technology over the past few years, with advancements in internet connectivity playing a pivotal role in this transformation. However, there is still a considerable gap in network penetration and connectivity in the region, which presents both challenges and opportunities

South African Neobank, Fin to Expand Finance Offerings after Acquiring Thuthukani

South African Neobank, Fin to Expand Finance Offerings after Acquiring Thuthukani

The Pretoria-based fintech firm Thuthukani has been acquired by South African neobank Fin as part of its development plans. With the goal of providing middle- to lower-income Fin clients with access to affordable financing, Fin Home Loans, Thuthukani’s additional housing finance service will be renamed to Fin Home Loans

Saudi fintech Tamara closes $150 million debt financing round

Saudi fintech Tamara closes $150 million debt financing round

Saudi Arabia-based fintech Tamara has closed a $150 million debt financing round from Goldman Sachs, making the startup’s total funding in equity and debt $366 million. The fresh funds will enable Tamara to finance the demand for its flagship Buy Now Pay Later (BNPL) product and continue its growth

Egypt's precious metal platform Mngm and Fawry partner to facilitate payment options

Egypt's precious metal platform Mngm and Fawry partner to facilitate payment options

Egyptian e-commerce precious metal platform, Mngm has entered a partnership with a fintech startup, Fawry to facilitate payments of Mngm’s customers. The partnership allows Mngm users to credit their cash balance by depositing cash into any of the FawryPlus stores or any Fawry POS machines, using only their registered

Unlocking Africa's Potential: Strategies to Promote Connectivity and Financial Inclusion for Inclusive Growth

Unlocking Africa's Potential: Strategies to Promote Connectivity and Financial Inclusion for Inclusive Growth

The African continent has enormous economic growth and development potential, but one of the major impediments is a lack of mobile internet access and financial inclusion. As the World Bank Chief Economist for Africa, Andrew Dabalen, pointed out in a recent report, closing the uptake gap for mobile internet services

Lelapa AI Launches Vulavula to Provide Natural Language Solution to Africans

Lelapa AI Launches Vulavula to Provide Natural Language Solution to Africans

Within the next two months, Lelapa AI, a recently established artificial intelligence (AI) research and product lab, will launch Vulavula, its first natural language model solution, on the market. According to co-founder and CEO Pelonomi Moiloa, the startup intends to develop AI-based customer-facing products and services that address problems that

Egypt's edtech startup, Almentor Raises $10 million pre-series C round

Egypt's edtech startup, Almentor Raises $10 million pre-series C round

Egyptian online video learning platform in Arabic, Almentor has acquired $10 million in growth capital in a pre-series C round led by e& capital. In this round, the tech investment VC, e& capital joined existing investors Partech, Sawari Ventures, Egypt Ventures, Sango Capital, and Endure Capital. Almentor will

GoSmartValue in Botswana’s Traditional Real Estate Sector

GoSmartValue in Botswana’s Traditional Real Estate Sector

The burgeoning economy of Botswana depends heavily on startups. Startups typically focus on the invention and development of already-existing goods, services, and procedures. They should also have the ability to produce money and jobs. Proptech, which involves a private company producing a product or service using technology, is mostly represented