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Etap closes $1.5 million pre-seed round to drive car insurance penetration in Africa

Etap closes $1.5 million pre-seed round to drive car insurance penetration in Africa

Etap, a Nigeria-based insurtech startup that makes it easier to buy and claim insurance, has raised $1.5 million in pre-seed funding to grow its team and drive the adoption of much-needed car insurance across Africa. Starting in Nigeria, the new funding will support the roll-out of ETAP’s game-changing

Zambian card issuing startup, Union54 secures $12M in Tiger Global-led seed extension round

Zambian card issuing startup, Union54 secures $12M in Tiger Global-led seed extension round

Union54 a Zambian card issuing fintech startup has secured $12 million in a Tiger Global-led seed extension round, with participation from existing investors like Vibe VC, new investors, Earl Grey Capital, and Packy Mccormick’s Not Boring Capital. Union54’s API allows African software companies to issue and manage their

From Virtual Jobs to Virtual Lives. Emerging Techs Will Transform Living Patterns

From Virtual Jobs to Virtual Lives. Emerging Techs Will Transform Living Patterns

Workplace flexibility is trending more and more by the day. Organizations are adopting the work pattern to reduce cost or facilitate work flexibility for staff. Forbes predicted 2020 to be the year of the remote. However, the year ushered in a new pattern for carrying out tasks. The boundary of

OPay receives Provisional Approval from CBE, partners Egypt's largest card provider to Issue Prepaid Cards

OPay receives Provisional Approval from CBE, partners Egypt's largest card provider to Issue Prepaid Cards

Opay, the emerging market fintech unicorn announced that it has received provisional approval from the Central Bank of Egypt (CBE) to issue prepaid cards via its OPay app in partnership with Masria Digital Payments (MDP), Egypt’s largest card provider. This is a bold step since the fintech company signed

Twiga Foods is Improving Market Access for Farmers and Reducing Food Price in Kenya

Twiga Foods is Improving Market Access for Farmers and Reducing Food Price in Kenya

50% of Africa’s workforce relies on the agricultural sector for their livelihood, income, and employment. Particularly in Kenya, agriculture accounts for over a quarter of the country’s GDP. Over 75 per cent of the country’s population makes some part of their living from agriculture. However, inefficient handling

South African crypto platform, Luno crosses 10million users

South African crypto platform, Luno crosses 10million users

South African Crypto platform, Luno announced on Wednesday that it has onboarded 10 million users across 40 countries into its platform. Founded by Marcus Swanepoel and Timothy Stranex in 2013, Luno said it has enabled over $52 billion worth of crypto transactions, and its customers have stored in excess of

Nigerian Digital Bank, Umba secures $15m Series A to Expand into new markets in Africa

Costanoa Ventures

Nigerian Digital Bank, Umba secures $15m Series A to Expand into new markets in Africa

Umba, a Lagos-headquartered digital banking platform announced that it has secured $15 million in VC firm Costanoa Ventures-led series A round to expand into new markets in Africa. Alongside a couple of Nubank executives, investors like Tom Blomfield, the co-founder of Monzo, previous backers, Lachy Groom and ACT Ventures, and

Egypt based Healthtech startup, Rology Closes Pre-Series A Round

Egypt based Healthtech startup, Rology Closes Pre-Series A Round

Egypt-based healthtech startup, Rology has raised an undisclosed pre-Series A round from Egypt Ventures, Sequence Ventures, Waseel, Tawaref, and Viktoria Ventures, alongside previous investors including HIM Angels, AAIC, DAI, and Cubit Ventures. Founded in 2017 by Amr AboDraiaa, Mahmoud Eldefrawy, Moaaz Hossam, and Bassam Khallaf, Rology is an on-demand teleradiology

Shift EV, Egypt's Electric Vehicle Startup Raises Series A Round to scale in the MENA region

Algebra Ventures

Shift EV, Egypt's Electric Vehicle Startup Raises Series A Round to scale in the MENA region

Shift EV, an Egypt-based electric vehicle startup, has raised an undisclosed Series A round, led by the startup’s existing investors; Union Square Ventures, Algebra Ventures, Wamda, and was joined by a first-time investor Oman Technology Fund (OTF) to set up its manufacturing facility, grow its team, double down on

Nigerian fintech startup, Lemonade Finance expands to 7 more markets

Nigerian fintech startup, Lemonade Finance expands to 7 more markets

Nigerian fintech startup, Lemonade Finance, has announced it is expanding its services to seven new markets, namely Senegal, Ivory Coast, Benin, Cameroon, Tanzania, Rwanda, and Uganda. Founded in 2020 by Ridwan Olalere and Rian Cochran and a participant in Y Combinator’s W21 batch last year, Lemonade Finance allows Africans

Egypt’s Pylon secures $19M to scale software for water and electricity distribution companies, expand into new markets

Egypt’s Pylon secures $19M to scale software for water and electricity distribution companies, expand into new markets

Pylon, an Egyptian infrastructure management start-up for emerging water and electricity utilities, has received a seed round of $19 million. The United States-based Endure Capital, backed by British International Investment (formerly CDC Group), the UK government’s development finance institution led the round with participation from Cathexis Ventures, Loftyinc Ventures,

Releaf is Empowering Smallholder Farmers and Disrupting Food Processing in Africa

Releaf is Empowering Smallholder Farmers and Disrupting Food Processing in Africa

Agritech has become a beacon of hope in the commercialization of the Agricultural industry among African Nations. Applying tech has bolstered the efficiency, sustainability, and profitability of agricultural processes and businesses. Nigerian Agritech startup, Releaf, has looked to improve the output and help African farmers earn more from their agricultural

Visa, the global leader in digital payments opens the first African Innovation Studio in Nairobi

Visa, the global leader in digital payments opens the first African Innovation Studio in Nairobi

Visa, a leading digital payment company that accelerates payments between consumers, merchants, financial institutions, and government organizations in over 200 countries and territories, has inaugurated an Innovation Studio in Nairobi, Kenya. This facility will serve Sub-Saharan Africa and be part of Visa’s network of innovation centers, which have been

Egypt-based edtech, Sprints raises $1.2M in Alexandria Angels Network-led Series A round

Alexandria Angels Network

Egypt-based edtech, Sprints raises $1.2M in Alexandria Angels Network-led Series A round

Sprints, an Egypt-based edtech start-up, that specializes in giving youth from the Middle East and Africa region a customized learning journey to advance their career in software development has raised $1.2 million in a Series A funding round led by the Alexandria Angels Network, with participation from members of

Nigerian on-demand delivery startup, ShapShap closes Seed Extension Round Led by V8 Capital Partners

Nigerian on-demand delivery startup, ShapShap closes Seed Extension Round Led by V8 Capital Partners

ShapShap, a Nigerian on-demand delivery startup, has closed a seed extension round led by V8 Capital Partners to accelerate its development beyond its existing base of operations in Nigeria and expand its capabilities across new markets in Africa. ShapShap secured an undisclosed seed round from Germany’s GreenTec Capital Partners

Boya is Transforming the Credit Culture of African Businesses

Boya is Transforming the Credit Culture of African Businesses

According to research, 51% of 44 million formal SMBs in sub-Saharan Africa cannot access finance. Each day, African SMBs have billions locked up in receivables due to long payment cycles. This leads to cash flow problems that cause businesses to be late on important expenses and fulfilment of new orders.

ImaliPay raises $3M seed to extend financial services to underserved gig workers in Africa

ImaliPay raises $3M seed to extend financial services to underserved gig workers in Africa

ImaliPay, an African one-stop-shop financial services platform, has raised a $3 million seed in debt and equity round to extend financial services to underserved gig workers in Africa. Leonis Investments and follow-on investors from VCs such as Ten 13, Uncovered Fund, MyAsia VC, Jedar Capital, Logos Ventures, Plug N Play

How Lenco will Service 50 Million African Small and Midsize Businesses

How Lenco will Service 50 Million African Small and Midsize Businesses

Africa’s fintech sector is heating up. But, as much as we see more fintech startups launch, the industry still needs more. Millions of businesses and individuals need the services these startups provide. We have the likes of Sparkle, Prospa, Float, and consumer Neobanks Carbon and Kuda, but we still

ZirooPay secures $11.4M to make its mobile POS services available for retailers across Nigeria

ZirooPay secures $11.4M to make its mobile POS services available for retailers across Nigeria

ZirooPay, Lagos- and Helsinki headquartered fintech start-up has secured $11.4 million in a Lagos-based VC fund, Zrosk Investment Management-led Series A round to expand its payment infrastructure, accelerate growth, and hire more staff, with participation from other private and institutional funds such as Fedha Capital and Exotix Advisory. Existing

Heyfood is Raising the Standard of Food Delivery Service in Africa

Heyfood is Raising the Standard of Food Delivery Service in Africa

In a tech savvy global system, businesses that aren’t digitally oriented are more likely to fall behind. With technology disrupting the global system, more and more businesses are joining the tech frenzy to remain competitive. The thirst for convenience has prompted the enhancement of service delivery across sectors in

Egyptian health tech, O7 Therapy secures $2.1M in a UK-based VC, Hikma Ventures-led seed round

Egyptian health tech, O7 Therapy secures $2.1M in a UK-based VC, Hikma Ventures-led seed round

O7 Therapy, an Egyptian mental health digital start-up, has secured $2.1 million in a seed round led by the UK-based Hikma Ventures with participation from C-Ventures, Lotus Ventures, and numerous famous angel investors. The fresh funds will be utilized to speed up operations in the Middle East and assist

Nigeria's Apex Bank approves MFS Africa's acquisition of Capricorn Digital Limited

Nigeria's Apex Bank approves MFS Africa's acquisition of Capricorn Digital Limited

MFS Africa, a pan African digital payments platform, has completed its acquisition of Nigerian super-agent Capricorn Digital Limited (owners of Baxi) following approval of the transaction by the Central Bank of Nigeria. According to Dare Okoudjou, Founder and CEO, MFS Africa, “this deal is a pivotal step in our journey.

Kenyan social-ecommerce platform, Tushop raises $3M from 4DX Ventures-led pre-seed to accelerate across Nairobi

Kenyan social-ecommerce platform, Tushop which allows people to buy fast-moving consumer goods (FMCGs), has raised $3 million in pre-seed funding to enlarge its team, enhance its platform and expand across Kenya. The seed round was led by 4DX Ventures, with participation from JAM Fund, Breyer Capital, Chandaria Capital, TO Ventures,

Egypt financial super app, Khazna secures $38M to cater for the underbanked, unbanked

Global Ventures

Egypt financial super app, Khazna secures $38M to cater for the underbanked, unbanked

Khazna, an Egyptian financial super app has secured $38 million in Series A debt and equity funding from the US-based Quona Capital, and the UAE-based Global Ventures led round to extend its service to Egypt’s unbanked and underbanked population. Other investors in the round include Austria’s Speedinvest, Saudi

African Startups raise Over $639M in March to bring total funding in 2022 to over $1,748,897,000

African Startups raise Over $639M in March to bring total funding in 2022 to over $1,748,897,000

Africa’s tech startups looked promising when they collectively raised over $475M in January. By February, $630M was added to bring the total sum raised by African startups to $1,109,590,000. At the end of March, the space seems to be very uninterested in slowing down after recording