Startup

A collection of 438 posts

General Atlantic

Nigerian healthtech, Reliance Health sets record in General Atlantic-led $40M Series B round

Reliance Health, an emerging markets-focused digital healthcare provider has today announced the completion of a $40M Series B funding round led by General Atlantic, a leading global growth equity investor, with participation from Partech, Picus Capital, Tencent Exploration, AAIC (Asia Africa Investment and Consulting), P1 Ventures, Laerdal Million Lives Fund,

AUM

Future Africa reaches a $30M mark in AUM in 2021

The Future Africa fund, launched by co-founder and general investor, Iyinoluwa Aboyeji, invested $4.3 million in 43 companies in 2021 to take its total assets under management (AUM) to $30 million. The Future Africa Fund enables investors to commit to African startups without a deal-specific risk. Future Africa is

Daily

Nigerian Eazipay Inc. Joins the Y Combinator W22 Accelerator Program

Eazipay Inc., a Nigerian startup that provides payroll and bookkeeping services to SMEs and corporates, has announced its participation in the Y Combinator Winter 2022 accelerator program. Based in Lagos, Nigeria, Eazipay designs Apps and APIs solutions for payroll and corporate taxes for small businesses and startups. With just one

Africa

Ghanaian Fintech OZÉ raises $3M to scale startup

Ghanaian startup providing digital recordkeeping tools with embedded finance products for small and medium scale businesses, OZÉ, has raised $3 million in pre-series A funding round. The funding round was led by European venture capital firm Speedinvest, which invests in pre-seed, seed, and early-stage tech startups. Also participating in the

Africa

Nigeria Startup Dojah Announces Participation For Y Combinator W22 Batch

The Nigerian-based tech startup Dojah has confirmed its participation in the W22 Y Combinator accelerator program. “We are excited to announce that we are part of the Y Combinator W22 Batch. As a unified KYC and digital solutions company, we have a single goal of empowering scale and innovation for

Funding

Microtration invests in Pivo

In its first deal for the year, VC firm, Microtraction, has announced an investment in fintech startup Pivo, a financial platform for small and medium-sized businesses. In a Medium post, the firm stated that it was excited to be on the journey with the founders as they work hard to

Fintech

Fintech Farm secures $7.4M investment, set to launch in Nigeria and other emerging markets

Fintech Farm, a British fintech company that creates neobanks in emerging markets, has raised a $7.4M investment to launch neobanks in 8 countries during the next two years. The round was led by Flyer One Ventures and Solid, while Jiji, TA Ventures, u.ventures, and AVentures Capital also participated.

Startup

Nigeria’s SeamlessHR closes $10m Series A round led by TLcom Capital

SeamlessHR, a Nigerian startup that offers payroll and HR software-as-a-service (SaaS) solutions, has raised a $10 million Series A round led by TLcom Capital. Existing investors such as Lateral Capital and Enza Capital also took part in the round. Other investors include Capria, Ingressive Capital, and several strategic private investors.

Green House Capital

Lipa Later, a Kenyan BNPL startup raises $12m to expand credit footprint in Africa

Lipa Later, a Kenyan tech-led consumer credit startup, raised $12 million in pre-Series A funding. This brings the company’s total funding to about $16 million to date. The startup says it will use this new funding to expand into Tanzania, Nigeria, South Africa, and Ghana and deepen its presence

Startup

Egyptian Foodtech 3attar raises Seed investment

Cairo-based Foodtech startup, 3attar, has secured an undisclosed seed investment to expand its user base and develop its tech stack. AUC Angels, UI Investment, and a group of angel investors all participated in the round. 3attar was launched in 2019 by Mohamed Ali, as a B2C online platform with its

Startup

8 African startups pitch at Techstars Toronto Demo Day

Last year, two African startups Plentywaka (now Treepz) and TalentQL made it into the Techstars Toronto Accelerator program, alongside 8 other startups. Since then, these two startups have recorded significant growth and traction. With Treepz raising $2.8 million in seed funding and expanding to Ghana and Uganda. On the

Startup

Ajim Capital Launches $10M Fund for early-stage African Startups

Early-stage VC firm, Ajim Capital has announced the launch of a $10 million fund to invest in startups in Africa. The funding will help founders focus and grow their businesses rather than worry about funding. Ajim Capital is looking to invest in exceptional African founders, with potential for rapid growth

Afrikrea

Afrikrea Raises $6.2m Pre-Series A Round, Rebrands as ANKA

Afrikrea, an Ivory Coast-based startup and e-commerce platform for all things made of Africa, has raised a $6.2 million pre-Series A funding round and rebranded as “ANKA.” ANKA means “ours” in Bambara, a shared language in the region from Mali and Ivory Coast, and across West Africa. It aims

Startup

Y Combinator Increases Standard Deal Size to $500,000 for Startups

The foremost tech accelerator program, Y Combinator has announced an increment to $500,000 in funds to invest in participating startups. The Silicon Valley tech accelerator will now offer an additional $375,000 in the form of an uncapped simple agreement for future equity (SAFE) note from the traditional $125,

Startup

Energise Africa, Solarise Africa raises over $1.13M funds to fund solar projects in Africa

Energise Africa and Solarise Africa, in partnership with crowdfunding companies in the UK, raised over $1.13M million in the space of eight days to fund large-scale energy projects in Sub-Saharan Africa. “We are humbled by the support we’ve received from the Energise Africa investor community”, said the CEO

500 Global

ThankUCash Raises $5.3 Million Seed Fund for Expansion 

ThankUCash, a leading multi-merchant rewards platform based in Nigeria has raised $5.3 million in seed funding. The seed round was co-led by 500 Global and Unicorn Growth Capital with participation from Expert Dojo, Predictive VC, SaaS growth Ventures, Betatron Hong kong, Accelerex Holding, Andrew Dell (former CEO of HSBC)

Startup

Startups in Benin Republic Exempted from Corporate Tax for First 2 Years Under the General Tax Code Act

Any government can benefit from the growth of its startup ecosystem. The ability of a government to create a peaceful dialogue between itself and startups in the locality will go a long way in determining the existence and growth pattern of the startup and the economic development of the country.

Startup

Nigerian fintech Bfree raises $1.7 M to expand across Africa, other emerging markets

Nigerian credit management fintech startup, Bfree has secured $1.7 million in a pre-Series funding round to expand its operations across Africa, into Asia, Europe, and South America. Having raised $800,00 in a seed round in May 2021 brings the total raised funds to $2.5 million. Participants in

African Health Tech

SA based HealthLeap raises $1.1M Pre-seed to Reduce Malnutrition in Hospitals

South Africa-based health tech startup, HealthLeap, has raised $1.1M pre-seed to reduce malnutrition in hospitals with clinical AI assistant which focuses on a global healthcare market, starting from the hospitals in the United States. The $1.1 million pre-seed round was led by deep tech investor Fifty Years. HealthLeap

Startup

YC backed Namibian startup, JABU gets $3.2 M in seed funding round

JABU, a Namibia-based B2B e-commerce startup has announced the raise of a $3.2 million seed round. The seed funding, which closed last year received investors such as Afore Capital, Y Combinator, FJ Labs, Kli Capital, Quiet Capital, Pareto Capital, and other anonymous seed investors. JABU joined the Y Combinator

African Health Tech

mPharma closes $35million Series D Round to Expand its Mutti Pharmacies

mPharma, a Ghanaian health tech startup, is building a network of community pharmacies across Africa as it targets to be the go-to primary healthcare service provider for millions of Africans. The startup is now set to activate more Mutti pharmacies to widen its reach and to build out its tech

Startup

Kenyan Money Manager App Alvin raises $740k pre-seed Funding Round

Kenyan smart money manager app, Alvin, helping people align their daily spending around savings goals, has raised $740k in a pre-seed funding round as it continues to hone its product, which is in the private beta phase. The round was led by Ingressive Capital, and featured Zephyr Acorn, Voltron Capital,

Startup

US-based Xcelerate to buy stake in Tanzanian Medical Technology Firm, AfiyaSasa Africa

Tanzanian med-tech startup, AfiyaSasa Africa (ASA), is closing in an investment from Xcelerate Inc., a medical technology services provider based in the United States, in which it will yield a majority position to the company. The deal will see Xcelerate purchase a 51% stake in the Tanzanian medical technology and

Property Tech

SA Proptech and digitalisation company, e4 expands to UK

South African property tech and digital solutions provider, e4 has announced its expansion into European markets, making the UK its international go-to-market. In a statement, the company says long-standing executive director Simon Slater has relocated to the UK to head up the venture. Slater’s focus, it notes, will be

BeU

Nigerian IdentityPass, Ethiopian BeU Delivery Gets Into Y Combinator W22 Batch

Ethiopian startup BeU delivery and Nigerian-based IdentityPass have been confirmed as participants in the prestigious Y Combinator W22 Batch which would run from January through March. Participants receive $125,000 in seed funding in addition to other investment opportunities at the demo day. beU delivery has just been added to