Startup

A collection of 438 posts

Startup

Benin-based FedaPay Secures Funding from Benin Business Angel Network

Benin-based payment aggregator, FedaPay, has announced it raised its first round of investment from Benin Business Angel Network (BBAN). FedaPay is an efficient and secure system for payment by credit cards and by mobile money launched in 2018 by Hermann Aguessy and Boris Koumondji. The platform manages merchant accounts, allowing

Startup

Egypt’s B2B eCommerce Fashion Startup Gahez Raises $2M in Pre-Seed Funding

Egyptian e-commerce startup, Gahez, has announced it raised $2m in a pre-Seed funding round to boost its inward growth and accelerate expansion. The pre-seed round was led by Disruptech Ventures with participation from Egypt Ventures, Tanmeyah (an EFG Hermes company), Afropreneur fund, and other angel investors. Headquartered in Egypt, Gahez

Features

How Piggyvest Helped Nigerians Save $585 million in 2021

Nigeria-based online savings and investment company PiggyVest, announced on January 1st, 2022 via its newsletter that it successfully paid out over N242 billion ($585 million) in 2021 to customers. The payout for 2021 doubles in comparison to 2020, which was announced to have amounted to N90 million. “With over 3.

Startup

Three Egyptian Edtech startups close rounds from EdVentures

Three Egyptian startups, OBM Education, Super Fny, and Crafty Workshop have received an undisclosed amount of funds from EdVentures and The Academy of Scientific Research and Technology (ASRT). EdVentures is an Arabian venture capital firm with a focus on Education, Culture, and Innovative Learning Solutions, powered by the long successful

Startup

Nigerian data visualization startup, Mustard Insights, raises capital

In what can be described as a last-minute round, Nigerian data visualization startup, Mustard Insights has raised an undisclosed amount of capital in a pre-seed round of funding towards its goal of building Africa’s largest data repository. The round was led by Velocity Digital as well as other investors.

Agritech

Kenyan Agritech startup, Apollo Agriculture, takes up US$ 9.5m Loan to Enhance Food Security Pact

A Kenya-based technology firm that helps small-scale farmers increase their profitability, Apollo Agriculture, has agreed to take up a US$9.5 million loan from the US government-backed International Development Finance Corporation (DFC) for up to ten years. The DFC said the 10-year loan would assist to improve Kenya’s

Startup

South African Internet Provider, Isizwe, secures $450K from the Global Innovation Fund

The Johannesburg-based internet service provider that promotes access for minimal-income communities, Isizwe, has announced it secured a $450k investment from The Global Innovation Fund. GIF is offering this funding as part of ADVANCE, a collaboration with Anglo Americans that allows private investment to grow creative business models in support of

Startup

Uganda’s Tech-enabled Asset Finance Firm Tugende Secures $17m Funding

Ugandan fintech lender, Tugende, specializing in asset lending in Kenya and Uganda, has closed a $17m investment round. The funds raised will assist the organization in meeting client demand as well as supporting other technological advancements. The Nordic Microfinance Initiative (NMI) ($5m), Symbiotics ($6m), and the Lendahand crowdfunding site ($1m)

Edtech

Nigerian edtech startup, Teesas, raises $1.6M pre-seed to expand across Africa

Teesas, a Nigerian Edtech startup has raised $1.6 million in a pre-seed funding round to expand its operations into new markets and also launch a marketplace that will connect learners with tutors for private lessons. The investment round was led by Haresh Aswani, Tolaram Group’s Africa managing director,

AFDB

AfDB Invests in Janngo Start-up Fund to Boost Innovation Across Africa

African social startup studio, Janngo Capital has announced the first close of its Start-Up Fund at $12 million (€10.5m). The pooled funds comprise $7.9 million (€7m) provided by the African Development Bank and a $3.9 million (€3.5m) contribution by the European Union and the Organization of

Startup

United States’ Aumet Acquires Egyptian Healthcare Supply Chain Solution Platform One

United States’ B2B healthcare marketplace serving the Middle East and North Africa, Aumet, has announced the acquisition of Platform One, an Egypt-based healthcare supply chain solutions startup, for an undisclosed amount. The acquisition will enable Platform One’s full operation across Saudi Arabia, the United Arab Emirates, Egypt, and Jordan,

Startup

Nigerian Edtech startup, Stranerd, launches P2P learning platform

Nigerian self-funded Edtech startup Stranerd has announced the launch of its peer-to-peer learning platform where students can ask and answer homework-related questions, with the service designed to give the smartest students opportunities to offer support to others who may be less skilled in particular subjects. Stranerd which began life as

Fintech

Kenyan Fintech startup, Paylend, bags $2M Seed Investment

Kenyan fintech startup, Paylend, announced Tuesday that it has secured $2 million seed investment from Next Chymia Consulting HK Limited, an Asian based company that provides blockchain applications, consultancy services and training to global entities. Founded in September 2019, Paylend is focused on providing access to finance and digitizing MSMEs

Startup

Kenyan Fintech Startup IMFact Secures $3.9m

Kenyan fintech startup, IMFact, has announced it secured $3.9m from FSD Africa Investments (FSDAi), the investment arm of FSD Africa. IMFact is a non-deposit taking financial institution founded in 2019 by Cardano Development (CD), an Amsterdam-based incubator and fund manager, with funding from KfW on behalf of the German

Startup

South Africa’s Planet42 gets $30M for its car subscription service, led by Naspers

Planet42, a South Africa-based car subscription company that buys used cars from dealerships and rents to customers via a subscription model, has raised $30 million in equity and debt. The investment — which co-founder and CEO Eerik Oja called a bridge round — is a prequel to a larger Series A round

Startup

Egyptian AIM Technologies raises Seed round from Sequence Ventures

Cairo-based AI-based customer experience platform AIM Technologies has raised an undisclosed amount in a Seed round, led by Sequence Ventures, a newly-launched Egyptian VC. Sequence Ventures plans to raise $31.76m over the next three to five years, with the first tranche of $9.5m presently being raised. The funds

Startup

SafeBoda Receives Investment from Google’s Africa Investment Fund

Ugandan super app and mobility provider, SafeBoda, has become the first startup to receive investment from Google’s Africa Investment Fund. The undisclosed funding came from the $50m Africa Investment Fund announced two months ago by Alphabet CEO Sundar Pichai. Targeted at early- and growth-stage startups on the continent, Google

Startup

Nigerian Solar Energy Startup, NXT Grid Secures $1.4million

Nigerian solar mini-grid provider, NXT Grid, has announced it has secured $1.4m from investors All On and Katapult Climate to expand its operations. This latest investment follows All On’s initial investment in 2020, which enabled the deployment of Nigeria’s first mini-grids. NXT Grid was founded in 2019

Startup

Nigerian Edtech Platform, Edukoya, raises $3.5M Pre-seed fund

Nigerian Edtech platform, Edukoya, an Africa-focused online learning platform, has raised $3.5m in a pre-seed round led by Target Global. The investment round also saw participation from angel investors including European and African founders such as Shola Akinlade – CEO and co-founder of Paystack (acquired by Stripe), Babs Ogundeyi and

Startup

Kenyan Healthtech Startup, Zuri Health, Expands To Senegal

Kenyan health-tech startup, Zuri Health, has announced its expansion into Senegal via a partnership with Expresso Senegal- a subsidiary of the Expresso Telecom Company, providing 4G internet, voice, and SMS services, as well as business and roaming solutions. Zuri Health was launched in 2020 by Daisy Isiaho and Ikechukwu Anoke

Edtech

Nigerian Edtech startup, uLesson raises $15 million in Series B funding round

Nigerian edtech startup, uLesson, has announced that it has closed a $15M Series-B investment from Nielsen Ventures and Tencent, as well as existing investors, Owl Ventures, TLcom Capital, and Founder Collective. This fundraise represents the largest investment in an African Edtech company. With the capital, uLesson plans to continue to

Startup

Kenya’s Fintech, Kwara Raises $4m in Seed Round

Kenyan Fintech startup, Kwara, which is helping to turn traditional savings cooperatives into modern digital banks, has raised $4m in a seed round. Investors who took part in the funding round include Breega VC firm, SoftBank Vision Fund Emerge, Finca Ventures, New General Market Partners, Globivest, Do Good Invest, Rabacap,

DFSLAB

Sendchamp secures $100,000 seed funding to bridge communications gap for African businesses

Nigeria-based unified communications startup, SendChamp, has raised $100,000 to bridge the communications gap for African businesses. The close of this round signifies the public launch of the startup’s offering, as it exits a private beta. The angel round saw participation from local angel syndicates like DFSLAB, Hustler Capital,

4DX Ventures

Ivorian fintech CinetPay raises $2.4m seed funding from Flutterwave, 4DX Ventures

CinetPay, an Ivorian fintech company that enables merchants in Francophone Africa to seamlessly accept and make payments, has announced a $2.4 million seed fundraising round from 4DX Ventures and Flutterwave. CinetPay was launched in 2016 by Idriss Monthe and Daniel Dindji. The platform provides a single interface for businesses

Startup

Egyptian Waste Management Startup Plstka Secures Seed Funding Round

Egypt-based cleantech startup Plstka has announced it raised an undisclosed Seed funding round from Alexandria Angels Network, in addition to a matching fund from Hivos to help it scale. Plstka was launched in 2021 by Ahmed ElNagar and Mahmoud Youssef, to offer on-demand doorstep waste collection services. Plstka’s rewarding