Y Combinator-backed Nigerian Fintech startup Lemonade Finance has raised a $725k pre-seed funding round to help it scale. The pre-seed round was spearheaded by Y Combinator. Other investors in the round are Microtraction, Ventures Platform, and Acuity Venture Partners. Several individual investors also took part. Lemonade Finance was cofounded by

South African API fintech startup Stitch has announced expansion into Nigeria, as well as a $2M seed extension bringing their total seed funding to $6M. Participating investors in the round include founders of Monzo, GoCardless, ComplyAdvantage, and President of Coinbase, who join existing backers Raba, firstminute capital, CRE, Village Global,

Cairo-based e-Commerce fulfillment startup ShipBlu has announced it raised $2.4m in venture funding. The funding was led by Nama Ventures, a MENA-focused venture capital firm. The likes of 1984 Ventures, Orange Ventures, Orange Telecom’s venture capital arm, Starling Ventures, and other VC firms and angel investors also participated

Egypt-based B2B marketplace, Kuzlo, has announced it raised an undisclosed amount of pre-Seed investment. The funding round was led by Nama Ventures, and Kuzlo seeks to push its products and services with this new funding. Kuzlo was established in 2021 by Ayman, Tarek, Bassem, and Gebril. Kuzlo’s business-to-business (B2B)

Zambian Fintech startup, Union54, has received further investment from Tiger Global, a leading venture capital firm. The $3 million seed round, which was led by Tiger Global, while Ace & Company, Vibe VC, Todd & Rahul Angel Fund, and Runa Capital, a San Francisco-based venture capital firm all participated in

Nigeria’s food-only delivery platform, Jise, has announced that it has successfully raised One hundred thousand dollars as angel funds from Europe and Africa. Jise was launched in wake of the Covid-19 pandemic in 2020 when food and groceries demand saw a spike globally. Jise has since leveraged the opportunity

Nigerian Fintech startup delivering easy access to affordable premium banking services for small and medium-sized businesses Brass, has secured $1.7m in funding to accelerate its expansion into South Africa and Kenya. The funding was secured from Olugbenga ‘GB’ Agboola, co-founder of Flutterwave; Ezra Olubi, co-founder of Paystack; Hustle Fund;

Ibadan-based B2B e-Commerce startup Alerzo has announced the acquisition of Fintech company Shago Payments to provide new digital services to its 150,000-plus informal retailers. Alerzo was founded in 2018 by Adewale Opaleye as a delivery platform that enables direct delivery of goods from manufacturers down to retailers until 2019

Kenya-based Fintech startup Asante has announced a $7.5m Series A investment to help its credit offerings to a host of African countries. The funding round was led by Goodwell Investments with participation by other investors including Sorenson Impact Foundation and Forsage Holdings. Asante was launched in 2020 by Chidi

Cairo-based FMCG Logistics company ILLA has secured a $2M investment round to expand and boost its growth in the market and diversify its offering to the FMCG value chain. The round was co-led by Watheeq Financial Services and Golden Palm Investments. Loftyinc Capital Management, Kepple Africa Fund, Cubit Ventures, AUC

Cairo-based construction tech e-Commerce startup Elmawkaa has raised a six-figure Seed round led by Flat6labs and joined by a Group of Oqal angels from Saudi Arabia after joining 500 Startups in Misk second batch in 2019. Elmawkaa was founded in 2017 by the trio of Ebrahem Anwar, Mahmoud Habib, and

Cairo-based food and grocery B2B e-commerce and distribution startup Talabeyah, has secured $1.1m in funding from a group of angel investors to help boost its strong early growth. Talabeyah was founded by Karim Nassef, Amr Abbas, Khaled Hussein, and Adel Hodroj in July 2020, to provide a tech-driven supply

Stellenbosch University (SU) and Innovus startup that focuses on developing health and disease risk screening solutions, BioCODE, has secured $473k funding from University Technology Fund (UTF). BioCODE was launched in 2008 by Prof Resia Pretorius, Prof Anna-Mart Engelbrecht and Prof Willie Perold with the aim of commercializing a multiplexing system

Nigerian Fintech startup providing financial, lifestyle, and business support services to Nigerians across the globe Sparkle, has raised $3.1m in a seed funding round. The funding came from an all-Nigerian group of investors including Leadway Assurance, Trium Networks, and several Nigerian HNIs, bringing Sparkle’s total funding to $5.

South African student housing platform DigsConnect has secured $200k in grant funding from Michael & Susan Dell Foundation to help university students from low-income backgrounds secure safe and affordable accommodation. Launched in 2017 by Alexandria Procter, Brendan Ardagh, Greg Keal, the DigsConnect platform enables landlords, estate agents, and property managers

Cairo-based e-Sports and tournaments startup, GBarena, has announced it raised a six-figure Pre-Series A investment round. HIM Angles VC network, Ahmed Aboudoma, and Kushal Shah all participated in the round. Founded in 2015 by Samer Wagdy, Mustafa Zaza, and Bishoy Mesdary, GBarena helps gamers find local and global challenges, enabling

Sudan’s largest online classifieds platform and marketplace, alsoug, has announced it secured $5m from Egypt’s leading provider of e- payments solutions and digital banking services Fawry. alsoug was founded in 2016 by a world-class team of technology entrepreneurs, and has now grown to become Sudan’s leading consumer

Kenya-based waste management company Sanergy has announced it secured a $2.5m investment from Japan International Cooperation Agency. Founded in 2010, Sanergy generates fertilizer and other by-products by providing safe, affordable sanitation in the slums, the startup focuses on promoting the human rights of hygienic waste sanitation. Sanergy specializes in

Nigeria-based financial data startup, Mono, has announced it raised $15m in a Series A funding round led by Tiger Global. Other participants in the round include Entree Capital, Lateral Capital, GPIC, Acuity VC, Ingressive Capital, Target Global, General Catalyst, and SBI Investment. Mono was founded in 2020 by Abdul Hassan

South Africa’s leading Foodtech startup FOMO, a restaurant specials and events discovery platform has partnered with the V&A waterfront. The partnership aims to drive consumers back into the V&A by listing all available restaurants and events on the FOMO app. The V&A Waterfront

Healthcare encompasses not only medical doctors and hospitals, but also dentistry, psychology, nursing, physical therapy, occupational therapy, and more. People rely upon an efficient healthcare system to help us maintain personal health through the treatment (or prevention) of illness, injury, disease, and other physical or mental impairments. But owing to

Ivorian digital logistics startup Kamtar have announced it raised $3.5m in a series A funding round as it moves to expand its Pan-Africa operations. Sendy Limited, Mobility 54 Investment SAS and Saviu Ventures all participated in the round. Kamtar is a major digital logistics startup established in 2018. The

South African Proptech group Castle One has announced it received an undisclosed amount of funding from HL Hall and Sons Holdings. The startup speaking said the deal will unlock new, synergistic value for the benefit of the real estate industry, both locally and abroad. Castle One was launched by Jonothan