- Kenyan e-health startup Benacare and Zambian fintech Mighty Finance have raised funding from Village Capital and Standard Chartered Bank through a new female-focused financing facility. Village Capital has partnered with Standard Chartered Bank to pilot a financing facility to invest in the bank’s…
- South Africa’s Athena has secured an additional $150,000 from Founders Factory Africa to allow patients to split their medical bills into monthly instalments. The additional investment brings its total investment from FFA to $250,000. Established in 2022, Athena is a healthcare financing company…
- Egypt-based AI-powered logistics startup Roboost, has closed a $3 million investment round, led by Silicon Badia, with contributions from RZM Investment, Flat6Labs, and Saudi Arabian angel investors. The new round of funding will be used to fuel the company’s next phase of regional expansion. …
- Egypt-based logistics startup Bosta, has raised an undisclosed amount in investment led by Avanz Capital Egypt (ACE) Founded in 2017 by Mohamed Ezzat and Ahmed Gaber, Bosta offers its users first, middle, and last-mile delivery, offering a next-day delivery service across the globe. Earlier in…
- Kenyan startup, Apollo Agriculture, a commercial farming platform that helps small-scale farmers maximise their profits, has raised US$10 million in funding to help it continue to grow. Founded in 2019, Apollo Agriculture empowers farmers to increase their profitability with access to financing,…
- South African startup Carry1st, Africa’s leading game publisher and digital commerce platform, has secured a strategic investment from the Sony Innovation Fund: Africa, the venture capital arm of Sony Group Corporation, making it the new fund’s first investment. Founded in 2018 and based in Cape…
- Senegalese startup ProXalys, which specialises in digital transformation in B2B commerce, has raised a US$500,000 funding round to help it scale. Founded in 2021 by Thierno Sakho, ProXalys aims to modernise and empower Senegal’s informal traders, digitising the entire value chain and reinventing…
- South African developer hiring marketplace, OfferZen has successfully closed a EUR4 million (US$4.3 million) funding round from top-tier investors, while also announcing a reformatting of its business model and some personnel changes. Founded in 2015 and launched in 2016, OfferZen is a developer…
- Bosta, Egypt’s delivery processing and logistics platform operating in Egypt and Saudi Arabia has raised undisclosed funding from Madagascar’s Axian Group to bolster its middle, and last-mile delivery services for its customers. Axian Group’s investment will support Bosta’s growth and advance its…
- Kenyan climate-tech startup KOKO, has raised an undisclosed amount of funding from Rand Merchant Bank (RMB). KOKO replaces demand for charcoal through supplying over 1.1 million homes with bioethanol cooking fuel distributed through a dense network of high-tech KOKO Fuel ATMs located in thousands…
- A Tanzanian B2B pharmaceutical company, Dawa Mkononi, is gearing up to expand its reach across East Africa thanks to a fresh round of funding. The company, whose name translates to “Medicine at your Palms,” has secured financial backing from an impressive consortium of investors, including: Sanofi…
- Sun King, the leading provider of solar energy solutions for off-grid homes in Africa and Asia, has secured a $7 million loan from Lendable, a major financier for fintech companies in developing markets. This collaboration will fuel Sun King’s expansion, bringing clean energy to more low-income…
- Zeal is excited to announce a successful $4M funding round led by Raed Ventures and Cur8 Capital, along with strategic angel investors. This capital injection is aimed at expanding Zeal’s innovative technology solutions across the EMEA region, following its recent expansion into the UK market.…
- Orange has been a sponsor and exclusive worldwide telecommunications partner of the Confédération Africaine de Football (CAF) since 2008. This long-standing partnership has been renewed with CAF, reinforcing the shared commitment around football development, diversity and inclusion in Africa. The…
- Kenyan startup Badili, a reverse commerce, or “re-commerce”, platform for refurbished phones, has secured an undisclosed amount of seed funding from E3 Capital to help it expand into more markets across East Africa. Founded in 2021 and already operating in Kenya, Tanzania, and Uganda, Badili …
- Lapaire, an African eyewear startup, has raised $3 million to drive its expansion across the continent. Impact investment fund, Investisseurs & Partenaires (I&P), led the equity round, which had AAIC, FINCA Ventures, and Beyond Capital pitching in. CrossBoundary provided advisory support…
- Egypt’s “FriendyM”’, the car management and maintenance startup has raised $2 million in seed investment to expand locally in Egypt and bolster its operations in the Kingdom of Saudi Arabia and the United Arab Emirates. The startup provides its services to customers in the Cairo and Alexandria and…
- Parallel Wireless, a player in Open RAN technology, has partnered with Hotspot Network Ltd, a Network-as-a-Service (NaaS) provider, to extend coverage to previously unconnected rural sites throughout Nigeria. This collaboration aims to connect residents of rural regions to essential services, such…
- Founded in 2022 by Nasreddine Riahi and Ayoub Rabeh, Cynoia aims to simplify and optimise collaboration within companies. Its platform consolidates a comprehensive suite of essential tools, encompassing everything from chat and video conferencing to email and calendar management, document handling…
- Seedstars Africa Ventures has received a $30 million capital commitment from EIB Global, an arm of the European Investment Bank, which becomes the first major institutional investment for its first Pan-African venture capital fund. The new commitment follows a $8 million investment from the fund’s…
- DigiTax, one of the five approved and listed vendors by the Kenya Revenue Authority (KRA), offering a trader invoicing system has appointed Statsspeak Group, as its go-to-market and onboarding partner. Statsspeak will be responsible for market mapping, user education and onboarding of individuals,…
- Egyptian online tutoring startup Orcas has been acquired by Baims, a leading Kuwaiti ed-tech company, in a strategic move to help the latter capture the flourishing US$100 billion education market in the Middle East and North Africa (MENA). Founded by Hossam Taher and Amira El Gharib, Orcas is a…
- Mastercard has partnered with illicocash, Rawbank’s fintech arm, to launch a virtual card programme in the Democratic Republic of the Congo (DRC) to provide consumers and businesses with a new and convenient way to engage in eCommerce transactions. This move follows Rawbank’s partnership with…
- Cleva has several upcoming products, including USD cards and savings in U.S. assets, in the works to diversify its revenue streams. It also plans to launch a campaign aimed at African diasporans. According to the company’s website, these products will enable users to send USD internationally and…
- MediaTek, the world’s fabless semiconductor company powering nearly 2 billion connected devices a year, has reiterated its commitment to work with telecom operators and OEMs in Kenya and the rest of East Africa to drive the adoption of 5G and help narrow the digital divide in the region. These…
- Cameroonian fintech Koree has closed a pre-seed round of $200,000 which it plans to use to grow its merchant base. Koree, a Cameroonian fintech that allows customers to save spare cash (change) on their cards, has raised a $200,000 pre-seed round. The fund will be used to grow its network of…
- iSchool raises $4.5 million in a funding round led by VentureWave Capital, an Irish VC, followed by OneStop Capital UK, Webit Investment Network, and Oraseya Capital, the Venture Capital arm of the Dubai Integrated Economic Zones Authority. Through its platform, iSchool’s platform offers live…
- Nigerian social commerce startup MAKA, which makes discovering and purchasing fashion items seamless and enjoyable, has raised a US$2.65 million pre-seed round of funding to help it scale. Founded by CEO Diana Owusu-Kyereko in 2021, MAKA is an interactive social commerce platform which, through…
- Egyptian startup Chefaa, a patient-centric pharmacy benefits platform, has raised US$5.25 million in funding to accelerate its growth and fuel expansion in Saudi Arabia. Founded in 2017 by Dr Doaa Aref and Dr Rasha Rady, Chefaa allows users to easily order, schedule, and refill recurring non-…
- Tunisian startup Imaginario AI, which uses AI to help process video and audio content, has raised a US$1 million pre-seed round of funding to help it scale internationally. Founded in 2021 by Jose Puga and Abdelhak Loukkal, Imaginario AI revolutionises the processing of video and audio content…
- Social impact investor Oikocredit and global foundation Aqua for All will support Sidian Bank in Kenya and EBO Financial Services in Uganda in increasing lending for water and sanitation services for underserved people. Responding to Kenya’s and Uganda’s rural and peri-urban populations’ lack of…
- Africa Healthcare Network (AHN), a leading provider of dialysis services in Africa, has secured $20 million in equity and debt funding, from Africa50 and AfricInvest, two leading African institutions, and Tokyo-based Ohara Pharmaceutical Co., Ltd. The funding will enable AHN to accelerate its…
- Kenyan fish farming startup Aquarech has raised US$1.7 million in equity funding to help it improve outcomes for small-scale fish farmers in Kenya through its mobile app platform. Founded in 2019 and led by Kisumu-based founder and CEO Dave Okech, alongside co-founders James Odede and Joseph Okoth…
- Cameroonian health startup Waspito has secured a $2.5 million seed extension from DP World through Newtown Partners, Saviu Ventures, AAIC Investment, Axian Ventures and CFAO’s Health54 to spur its growth in the Francophone region. Waspito is a health-focused social network that allows users (…
- Tech-enabled cloud kitchen, Fork N Knife, has successfully closed its seed funding round with $800,000, paving the way for the company to continue its journey of advancing the food tech sector based on its accumulated expertise and capabilities. A diverse group of individual angel investors and…
- The ECOWAS Bank for Investment and Development (EBID) has signed an agreement with WEMA Bank Plc, Nigeria providing a USD50 Million line of credit to support Small and Medium Enterprises (SMEs) in the agro-business sector in the Federal Republic of Nigeria. The signing ceremony took place at the…
- Nigerian trade finance startup FrontEdge, which helps facilitate cross-border trades for African SMEs, has raised US$10 million in debt and equity funding to scale operations across Nigeria, Kenya and other African countries. Founded in 2021 by Moni Alli, Front Edge specialises in providing…
- Kenya’s Ed Partners Africa, a non-banking financial institution that specialises in providing loans to affordable private schools, has announced the commitment of a US$10 million loan guarantee facility from the United States’ Development Finance Corporation (DFC) to help it expand access to…
- The Africa Fertilizer Financing Mechanism will provide a $2 million partial trade credit guarantee and a $219,000 grant funding to Nairobi-based Apollo Agriculture Limited to support the distribution of over 7,000 tonnes of fertilizers to some 100,000 smallholder farmers in Kenya. Between 2024 and…
- Chapel Hill Denham’s Nigeria Infrastructure Debt Fund has agreed to provide long-term financing to Tizeti Network Limited, West Africa’s pioneer solar-based internet service provider. The senior debt facility will be used to finance the rollout of Tizeti’s state-of-the art broadband network across…
- WayUp Sports, the first ecommerce platform specialised in performance based sports gear in Egypt, has secured seed round led by Beltone Venture Capital, Index Sports Fund, and other strategic angel investors. This investment will focus on scaling Wayup Sports through three main pillars: regional…
- While Nigeria stands out as a prominent tech investment hub in Africa, the majority of investments are directed towards startups located in Lagos and other states in the southwestern region. According to the 2023 Northern Nigeria Tech Ecosystem report, out of 188 surveyed startups, a mere 6% have…
- InDrive, the “bid-based” ride-hail platform popular in Latin America and Asia, has launched a new venture and merger and acquisition division named New Ventures to invest up to $100 million in startups within emerging markets over the next few years. The new venture arm comes four months after…
- The Dubai Integrated Economic Zones Authority (DIEZ) has announced the launch of a venture capital (VC) fund worth US$136 million to invest in tech startups. Other than funding startups, the fund will also support the economic objectives outlined in the Dubai Economic Agenda, D33 by promoting the…
- Nigerian startup Pricepally, a fresh and packaged food e-commerce platform, has raised US$1.3 million in seed funding to help it scale. Launched in 2019 by Luther Lawoyin, Jumai Abalaka, Deepak Bansal and Monsunmola Adefemi, Pricepally sources farm-fresh produce and distributes it via its e-…
- Africa’s Global Bank, United Bank for Africa (UBA) Plc, has received a trade finance facility worth $150m from the African Export-Import Bank The facility forms part of Afreximbank’s Ukraine Crisis Adjustment Trade Financing Programme for Africa (AKAFPA), and the signing ceremony for the trade…
- UM6P Ventures, the investment fund of Mohammed VI Polytechnic University, announced its decision to invest in the e-commerce startup Chari to boost financial and digital inclusion in Africa. A statement from the partners said that UM6P Ventures and Chari entered into a partnership with the ambition…
- WayUp Sports, the first ecommerce platform specialised in performance based sports gear in Egypt, has secured seed round led by Beltone Venture Capital, Index Sports Fund, and other strategic angel investors. This investment will focus on scaling Wayup Sports through three main pillars: regional…
- Paratus Group has secured funding of US$31-million to help realise its ambitious infrastructure expansion plans, the pan-African telco says the capital injection will significantly boost connectivity across key and currently underserved regions and contribute to the Group’s goal of doubling revenue…
- The African Export-Import Bank (Afreximbank) has entered into a framework agreement for the Export Agriculture for Food Security (ExAFS) Initiative with ARISE Integrated Industrial Platforms (ARISE IIP) and the governments of Chad, Malawi, Zimbabwe and Egypt. The initiative seeks to initiative to…