54gene, the health technology company centered on advancing the field of African genomics to unlock scientific discoveries as well as improve diagnostic and treatment outcomes within Africa and the global community, is creating a trust which it will use to invest up to 5% of future proceeds from the company’

Dashen Bank, a leading financial institution in Ethiopia has partnered with Thunes, a Singapore-based global payments network, to facilitate the faster and cheaper remittance of money into Ethiopia from around the world. Through this partnership, customers and businesses in Ethiopia will be able to receive funds straight into their bank

Cellulant Corporation, a leading payment company in Africa has secured the approval of the Bank of Tanzania (BOT) to operate as a Payment Solution Provider in Tanzania. This approval was granted in principle after the telecom operator fulfilled all the requirements necessary for the approval. This approval makes Cellulant one

South Africa-based VC firm Vantage Capital has launched its fourth mezzanine fund. This fund will provide mid-sized African businesses with flexible capital that will enhance job creation and facilitate much-needed economic opportunities and growth. Founded in 2001, Vantage Capital is regarded as Africa’s largest mezzanine fund manager with offices

RxAll, a Nigerian health tech startup that uses deep technology to provide quality medication to patients, has announced the raise of $3.15 million to scale across existing markets and improve its technology. Founded in 2016 by Adebayo Alonge, Amy Kao, and Wei Lui, RxAll enables pharmacies and patients in

The Nigerian-based startup, SmartHotel, which develops software for the hospitality industry has secured a $1 million Pre Series A round to expand its services across Africa and Europe. The funding round was led by existing investor Smok Ventures, with support from LT Capital Ventures and Next Road Ventures. Other participants

Nigerian investment platform, Chaka has announced the raise of $1.5 million in a pre-seed funding round led by global VC firm, Breyer Capital. Other participants in the round include 4DX Ventures, Golden Palm Investments, Seedstars, Musha Ventures, and Iyinoluwa Aboyeji’s Future Africa. This is the second time in

Taager, an Egyptian social e-commerce platform empowering online merchants with end-to-end logistics has secured $6.4M in a Seed funding round, led by 4DX Ventures, a pan-Africa-focused venture capital firm. The round also saw participation from Raed Ventures, Beco Capital, Breyer Capital, and several key private investors including Magnus Olsson,

Eventtus, an Egyptian interactive event platform that allows organizers to engage attendees has been acquired by Bevy, a California-based enterprise software startup for virtual conferences and community events. Financial details of the acquisition were not disclosed, but according to a statement accredited to Eventtus, it was a ‘good deal’ for

Ecosystem Integrity Fund, a US-based venture capital firm, has raised $250 million for sustainable firms, including two in Africa. In a statement, the San Francisco-based clean-tech investment firm said it closed its fourth fund with support from the Tennessee Valley Authority Retirement System and Franz Haniel & Cie, a family-owned

Egyptian food discovery, ordering, and delivery platform Elmenus has announced the raise of $10 million in a pre-Series C funding round led by the leading Egyptian payment provider, Fawry. Other participants in the round include Luxor Capital and Egyptian property developer Marakez. Luxor Capital is a New York-based hedge fund

CribMD, a Nigerian health tech startup, has announced its acquisition of Charisland Pharmaceuticals Group. This deal is coming after CribMD raised $2.6 million in an oversubscribed seed funding round 2 months ago. The startup disclosed that this acquisition is to ensure fast and efficient one-hour drug deliveries to its

Egypt-based logistics startup, ShipBlu, has recently announced the raise of an undisclosed amount of pre-seed funding to help it expand its operations. ShipBlu was one of the nine African startups chosen for the latest Y Combinator accelerator in Silicon Valley, and the company has now announced that the US$125,

Lagos-based VC startup, GetEquity has secured an undisclosed six-figure pre-seed funding to launch its first product, a venture-funding platform that connects entrepreneurs and investors in emerging markets. The funding round was led by GreenHouse Capital, an African fintech investment fund and platform focused on supporting early-stage companies and world-class emerging

Egyptian health-tech startup, Yodawy has on Monday, announced the raise of a $7.5 million Series B round led by Middle East Venture Partners (MEVP), Algebra Ventures, and Global Ventures. Other participants in the round include Egypt’s CVentures, P1 Ventures, and Athaal Angel Investors Group. The startup which claims

Jeel Platform, an edutainment startup, has closed a seed funding round with $1.2 million from Kuwaiti and Jordanian angel investors. Based in Egypt and Saudi Arabia, the edutainment startup provides kids with shows, games, and stories that are both educative and entertaining. Founded in 2019 by Ahmed Sobaih, The

In March this year, The Hague Institute for Innovation of Law (HiiL) announced the start of its annual global Innovating Justice Challenge in search of the region’s best justice-related social entrepreneurs. The HiiL is a social enterprise devoted to user-friendly justice. That means justice that is easy to access,

Smile Identity, an Identity verification startup, has announced the raise of $7 million in a Series A round co-led by Costanoa Ventures and pan-African venture firm, CRE Venture Capital. Other investors that participated in the round include LocalGlobe, Intercept Ventures, Future Africa, and other unnamed angel investors. Exiting investors such

To increase the spread of its solutions to businesses in West Africa, Daystar Power, a leading provider of hybrid solar power solutions, has recently secured a facility of $20 million from the International Finance Corporation (IFC) to fund its project pipeline in Nigeria. This deal is coming on the heels

Omnisient, a South Africa startup that specializes in secure data sharing for businesses has recently announced the close of a $1.4 million funding round. The startup revealed that the investment will be used to expand the Omnisient team, accelerate product development and drive its international expansion plans to the

Nigerian fintech and lending startup Lidya has announced the close of a $8.3 million pre-Series B funding round. The round was led by Alitheia Capital via its uMunthu Fund. Bamboo Capital Partners, Accion Venture Lab and Flourish Ventures all participated in the round. In 2017, Lidya raised a $1.

Egyptian tech-focused Venture Capital firm, Algebra Ventures, has recently announced the appointment of Laila Hassan and Omar Khashaba to its second $90 million funds as General Partners. Both individuals collectively bring together a strong regional network and portfolio support expertise and a multi-stage investment experience. Laila previously worked with 500

Lagos based startup, Tix Africa, a self-service ticketing platform for event creators in Nigeria, has announced the close of a six-figure pre-seed funding round to scale up its events app. The funding round was led by HoaQ, a community of creators and operators interested in backing African startups. With participation

TECNO’s release of its premium flagship PHANTOM X hitting the mid-to-high-end brought no small disturbance. It is not only a major move for TECNO, but also a positive signal for the industry – mid-to-high-end smartphone technology and market has become more mature today, and market demand is likely to spread

Africa-focused early-stage investment firm VestedWorld has invested in Nigerian marketing technology company Terragon to increase its geographical reach, expand its product suite and develop new partnerships. The terms of the transaction were not disclosed Founded in 2011, Terragon offers a consumer insight and activation platform that aggregates, organizes, and enriches