- AAIC Investment has announced new backing for its Africa Healthcare Fund 2 (AHF2), taking the total size of its two funds to US$87 million. Established in 2013 and headquartered in Singapore, AAIC Investment is the fund management arm of AAIC Holdings. It began supporting the activities of…
- Cameroonian fintech startup Koree has won US$50,000 in cash after winning top prize at the annual Ecobank Fintech Challenge. Run each year by pan-African bank Ecobank Group, the Ecobank Fintech Challenge looks to support innovative startups with cash prizes and further developmental support. This…
- Sony Group has established a US$10 million innovation fund to invest in African entertainment startups. Since 2016, Sony has run a variety of funds, including the Sony Innovation Fund (2016), the Innovation Growth Fund (2019), and the Sony Innovation Fund: Environment (2020). Its latest initiative…
- Egyptian ed-tech startup Crafty Workshop has secured US$400,000 in a seed funding round led by EdVentures, which it will use help expand its product offering and expand regionally. Founded in 2019 by Hadeer Shalaby and Amgad Moustafa, Crafty Workshop is an online learning platform that provides a…
- Nigerian company WATT Renewable Corporation (WATT), an independently owned provider of hybrid solar solutions, has secured US$13 million in funding to catalyse its efforts in advancing renewable energy solutions and fortify its position as a leading provider of clean energy in Nigeria. WATT …
- Alterra Capital Partners, a firm spun out of Carlyle Group Inc., has announced substantial backing from prominent figures, including Carlyle’s co-founders David Rubenstein and Bill Conway as well as Nigerian billionaire Aliko Dangote, for their Africa-focused fund. Partner Genevieve Sangudi…
- Egyptian fintech startup MoneyHash has raised funding from GitHub founder Tom Preston-Werner as part of a soon-to-be-announced seed round. Founded in late 2020 by Nader Abdelrazik, Mustafa Eid and Anisha Sekar, MoneyHash provides a unified checkout experience built on top of a secure super-API that…
- Intella, a Mena-based deeptech company, has successfully closed a $3.4 million pre-Series A funding round. The round was led by HALA Ventures and Wa’ed Ventures, the Kingdom-focused venture capital fund wholly owned by Aramco, with participation from Sanabil 500 and INSEAD’s alumni angel network,…
- Senegalese FMCG intelligence startup Lengo AI has raised a seven-figure pre-seed round of funding to help it develop its product and team, and expand into new African markets. Founded in 2022 by Max Smith, Roger Xavier Macia and Ismaila Seck, Lengo AI is the first data-driven operating system for…
- Twitter co-founder Jack Dorsey and rapper Jay-Z hooked up in 2021 to create an endowment fund, Btrust. According to Afrotech, the fund was created to invest in the development of Bitcoin in Africa and India. Three of the four board members hail from Nigeria, reflecting the fund’s intended direction…
- In a groundbreaking move, Wema Bank Plc. has joined forces with the Federal Government of Nigeria (FGN) through the Office of the Vice President to embark on a mission that could revolutionize the Nigerian workforce. The ambitious project aims to train 2 million youths and 1 million micro, small,…
- In a remarkable step towards empowering young minds in Nigeria, GetFundedAfrica is set to host two groundbreaking STEM (Science, Technology, Engineering, and Mathematics) programs in conjunction with the University of Connecticut and the National Society of Black Engineers (NSBE) Professionals. The…
- Kotani Pay, a Kenyan-based fintech startup, has raised a $2 million pre-seed funding round to expand into Rwanda, Senegal, Ivory Coast, Tanzania, and Nigeria. P1 Ventures led the round, with participation from DCG/Luno and Flori Ventures. Founded in 2020 by Brian Kimotho, Daniel Kimotho, Felix…
- Nestcoin’s $1.9 million in strategic funding comes after its $6.45 million pre-seed funding in February 2022. The funding, which was one of the largest pre-seed rounds on the continent, was unfortunately lost to the FTX crash of November 2022. Yele Bademosi, Co-founder and CEO of Nestcoin said in a…
- Nigeria’s Anchor, a pan-African Banking-as-a-Service (BaaS) provider, has raised a US$2.4 million seed funding round to launch new products, invest in its licensing and compliance infrastructure, and evaluate expansion markets. Launched in August 2022, Anchor simplifies the process of building…
- The Nigerian tech ecosystem is abuzz with excitement as the 5th Edition of the ISN Annual Gathering approaches. With the theme “Unlocking Potential: Collaborating for Growth and Impact,” this year’s event promises to be a pivotal moment in the journey of Nigeria’s Information and Communication…
- South African insurtech startup LeaseSurance has raised ZAR3 million (US$161,0000 in seed funding to expand its team and further develop cutting-edge technology solutions for the real estate industry. LeaseSurance uses financial technology to optimise assets in rental real estate by replacing…
- Unilever-controlled Marga is set to make a major corporate changeover after the Competition Commission of South Africa gives them the green light to acquire popular skincare company Dermalogica, helping Unilever South Africa to further extend their business reach. Dermalogica SA, the primary target…
- Black Ostrich Ventures, a Los Angeles-based venture capital firm, has launched a $20 million pre-seed and seed stage fund to support African founders to grow their businesses in the cleantech, supply chain, ag-tech, and edtech sectors. The newly created firm will support startups with check sizes…
- Flat6Labs, the region’s leading seed and early-stage venture capital firm, has launched the “Makers” ConTech Accelerator Program in partnership with SIAC and Dar Al-Handasah (Shair and Partners). The program is the first-ever construction-focused accelerator program in the Middle East that aims to…
- Antler announces the expansion of its presence to MENAP with Dr Jonathan Doerr and Romain Assunção as Partners. The firm aims to strengthen the region’s entrepreneurial ecosystem by backing exceptional founders at the earliest stage with co-founder matching, personalised coaching, access to a local…
- Cairo-based fintech startup (HEDG) has secured a six-figure pre-Seed funding round from local and Saudi investors. Founded by tech visionaries Ahmed Abdel Moaty and Ahmed Eraqi in July 2022, HEDG is set to revolutionise retirement planning for private workers in Egypt. Backed by this substantial…
- Mastercard has announced a strategic partnership with Ingiz, a family financial management start-up in Egypt supported by Masria Digital Payments, to launch a cutting-edge digital payments application designed to drive financial literacy and inclusion among Egypt’s youth. This largely untapped and…
- The federal government of Nigeria has secured access to approximately $500m in funding to initiate a local funding programme to boost innovation and entrepreneurship within the country’s digital sector. Bosun Tijani, Minister of Communications and Digital Economy, made this announcement at a dinner…
- At the Pitch2Win 2023 competition in July, Pharmarun, a Nigerian healthtech startup, competed against 14 startups from different industries, including fintech, eCommerce, AI, and blockchain, and emerged winner, going home with $10,000 in equity-free funding. Pitch2Win is an accelerator investment…
- Cash Plus, a leading player in the field of financial services in Morocco, has just announced its investment in the startup SLE3TI through its investment structure Cash Plus VC, dedicated to supporting startups, learns- we. SLE3TI, a company working in the distribution of everyday consumer products…
- MALY, a Dubai-based financial wellness platform, has announced the successful conclusion of its pre-seed funding round, securing an investment exceeding $1.6 million to grow its automated savings app and its bank-linked card. The fintech startup secured the funding via a group of leading GCC-based…
- SeekMake, a Tunisian startup founded by Adel Ayari, has recently secured a substantial investment of 500,000 euros (539,000USD). This funding has been acquired in the form of a deal divided into three parts, after a year-long process. The investor behind this funding is Lafayette Group, a prominent…
- Hewlett Packard Enterprise (HPE) operated by Selectium has entered into a partnership with Mitsumi Distribution in a strategic move to expand market share and boost revenues. The corporation between the two industry leaders promises to deliver groundbreaking solutions to enterprises in the region…
- Iveda, the global solution for cloud-based AI video and sensor technologies, has announced a new partnership with The Arab Organization for Industrialization (AOI) to support and scale smart city developments in Egypt. Granted with a security certification from the Egyptian Military Intelligence,…
- MoMo Payment Service Bank (PSB) and Saana Capital, an international cross-border company with a licence from the Central Bank of Nigeria (CBN), have partnered to enable bill payment services and seamless inbound and outbound transfers throughout Africa. Inbound and outbound services enable you to…
- Diamond Trust Bank (DTB) has partnered with Boya, a leading technology provider, to launch a virtual expense card which will help businesses to manage their payments and expenses with one solution at zero fees. As part of DTB’s digital transformation strategy, the introduction of Banking as a…
- IBM is expanding its collaboration with Microsoft to help joint clients accelerate the deployment of generative AI – and deliver a new offering that will provide clients with the expertise and technology they need to innovate their business processes and scale generative AI effectively. With this…
- On the back of successfully serving African migrants in Canada and the UK, LemFi has raised $33 million in Series A funding to simplify remittance payments for immigrants globally. The round was led by Left Lane Capital. Other investors included Y-Combinator, Zrosk, Global Founders Capital, and…
- Google has announced the launch of a new accelerator program to support Artificial Intelligence (AI) startups in Africa. The “Google for Startups Accelerator: AI First”, initiative seeks to recognize startups keen on delving into AI’s possibilities across the continent. It also seeks to highlight…
- Pan African Bank Ecobank Kenya Limited has partnered with AMREF Flying Doctors to offer Maisha Membership; an air and ground ambulance scheme to the Bank’s clientele. Under this partnership, Maisha membership will provide the Bank’s customers with convenient access to fast, affordable, and quality…
- The competition regulator in Kenya has given Moniepoint Inc. the green light to acquire Kopo Kopo, a Kenya-based company offering payments services and credit to businesses. Following the approval by Competition Authority of Kenya (CA), Moniepoint (formerly TeamApt) will expand its services to…
- Kentegra Biotechnology was founded in 2017 and has quickly grown to become the leading pyrethrin producer in Kenya. Finnfund, the Finnish development financier and impact investor, and the United States International Development Finance Corporation (DFC), a development finance institution and…
- African Infrastructure Investment Managers (AIIM), An African infrastructure private equity manager, and N+ONE DATACENTERS (N+ONE), a African data center owner and operator, are joining forces to develop a new Pan-African data center and cloud services platform with a short-term target capacity of…
- Zanifu, a Kenyan fintech providing inventory financing to micro, small and medium-sized businesses, has raised $11.2 million in debt-equity funding in a pre-Series A round led by Beyond Capital Ventures and Variant Investments. Founders Factory Africa, AAIC Investment, Google Black Founders Fund…
- Football club Paris Saint-Germain and Yassir, the Super-App offering on-demand and payment services in North Africa announced the signing of a global partnership for three seasons with the aim of further developing the Yassir brand on the international stage. The Yassir online marketplace, which…
- A new multi-stakeholder partnership to advance labour and human rights, decent jobs and fair and adequate incomes and wages within the agri-food sector has been formed by the International Labour Organization (ILO), the International Fund for Agricultural Development (IFAD), and CARE International…
- Webb Fontaine, a global player in trade technology solutions, has partnered with Kenya National Electronic Single Window System Operator, State Agency, known as Kenya Trade Network Agency (KenTrade), to revolutionize the Kenyan logistics landscape with the Digital Logistics Market Place (DLMP). The…
- Syrex, a provider of hyperconverged cloud technology solutions in South Africa announced a strategic partnership with Seceon, a global provider of the most advanced AI/ML-driven cyber threat detection and remediation platform for enterprises and managed security service providers, to provide…
- To help strengthen credit reporting and access to finance in South Africa through innovative digital solutions, IFC, in partnership with the Government of Japan and the National Credit Regulator (NCR), have announced a TechSprint week for creative South African startups, tech companies, innovators…
- In an unparalleled move to uplift the driving conditions of the ride-hailing community, inDrive, a global leader in mobility and urban services headquartered in California, USA, has generously distributed top-notch car seat covers across Africa. Representing an investment of over 7 million million…
- Medical technology company Siemens Healthineers has joined IFC’s Africa Medical Equipment Facility (AMEF) to make medical imaging and cancer care equipment more affordable on the continent. Siemens Healthineers’ participation in the AMEF will help smaller healthcare companies in Kenya and Côte d’…
- The Eastern and Southern African Trade and Development Bank (TDB) Group is extending USD 30 million under a securitization structure that will mobilize USD125 million in funding for d.light to expand access to clean energy and foster financial inclusion through the delivery of Solar Home System (…
- Ghana’s Oyster Agribusiness, an agricultural enterprise that employs significant levels of tech and works closely with smallholder farmers, has raised US$310,000 in grant and debt funding to propel its mission of sustainable agriculture, gender inclusion, and talent management. Founded in 2018, …
- Paymentology, a global issuer-processor has announced its partnership with Kenyan fintech Boya to simplify expenses for corporates in the country. Together with Kenyan tier 1 Bank, Diamond Trust Bank, and Paymentology, which connects Boya to Visa through its card issuing platform and provides…