QED Investors, a global venture capital firm focused on investing in disruptive financial services companies, has hired Gbenga Ajayi as a Partner, to focus on fintech investments in Africa.
Poa Internet and Africa50 announced the completion of Africa50’s equity investment into Poa. This funding is part of the $28 million financing round led by Africa50.
Canadian fintech startup Periculum launches in Nigeria to build credit assessment infrastructure for Africa
Canadian fintech startup and credit assessment company Periculum, has launched in Nigeria to tackle the challenge of domestic credit to the underserved markets.
Lipa Later, one of it’s kind buy-now-pay-later (BNPL) company operating in Kenya, Rwanda, Uganda and Nigeria, has raised $12 million from a consortium of investors.
Nigerian last-mile delivery startup Kwik reaches 100,000 customers, announces over 400% GMV and revenue growth for 2021
Nigeria's last-mile delivery startup Kwik Delivery, trading name of Africa Delivery Technologies SAS, announced its GMV and revenue for 2021 grew by over 400% year on year.
Tallinn-based Bolt raises €628m funding round to accelerate transition from owned cars to shared mobility
Tallinn-based Bolt announced the closing of €628 million round of funding, its largest funding to date. This funding round will help Bolt accelerate its mission to help cities transform urban areas.
Paylend, a Kenyan fintech startup focused on providing access to finance and digitizing MSMEs in Kenya announced it has raised $2 million seed investment from Next Chymia Consulting HK Limited.
Nigeria-based Ventures Platform has announced the first close of its $40 million pan-African fund to invest in market-creating innovations across Africa.
Edukoya, an Africa-focused online learning platform, has raised $3.5 million in a pre-seed round led by Target Global with strategic participation from angel investors including European and African founders.
Kenyan tech startup Wowzi has raised $2 million in seed funding to expand its digital marketplace across Africa.
Moove, an African mobility fintech, has launched operations in Nairobi, its first city in East Africa and sixth on the continent.
FMO and Collaborative for Frontier Finance partner to launch an Emerging Capital Allocators project across Africa
The project will provide an opportunity for more aspiring fund managers, particularly in Ghana, Morocco and Tanzania, to gain the necessary experience to start raising capital, managing assets, and closing deals.
Nigerian B2B e-Commerce startup TradeDepot raises $110m to extend ‘Buy-Now-Pay-Later’ services to African retailers
TradeDepot, the B2B e-Commerce and embedded finance platform in Africa, has raised $110 million in an equity and debt funding round to support the delivery of Buy-Now-Pay-Later services to SME retailers.
Dutch development bank FMO partners with VC4A to launch a Ventures Lifecycle Support project across Africa
FMO has partnered with VC4A to work with local partners across Africa to create a more efficient network of support for early-stage ventures.
Africa-based cryptocurrency exchange Busha, raised $4.2 million seed round led by Jump Capital. Cadenza Ventures, Blockwall Capital, CMT Digital, Greenhouse Capital, Raba Capital, and other investors also participated in the financing round.
Kenyan gaming startup Usiku Games unveiled an amateur football mobile game to promote outdoor physical activities and encourage sportsmanship among youths in East Africa.
South African fintech firm Ozow raised $48 million Series B funding round led by Chinese internet giant Tencent. Other investors Endeavor Catalyst and Endeavor Harvest Fund participating also participated in the round.
Kenyan tech startup Wowzi has announced plans to create one million gig jobs for African youth in 2022 through its online marketplace, after successfully delivering over 150,000 paid jobs in 2021.
Crypto Valley Venture Capital initiates investment strategy to build blockchain accelerator for African startups
African blockchain disruptors and early-stage startups have joined CV Labs Global Incubation Program Batch 03. The African contingent of incubatees is reflective of Crypto Valley Venture Capital’s (CV VC) global investment strategy.
Helium Health (Helium), the healthcare technology provider in Africa, announced it has completed the acquisition of Meddy, the GCC-based doctor booking platform, which has operations in Qatar and the U.A.E.
The Tony Elumelu Foundation (TEF), the philanthropy empowering African entrepreneurs from all 54 African countries, has selected 4,949 entrepreneurs from across Africa for its 2021 Entrepreneurship Programme.
MFS Africa, Africa’s digital payments network, has raised $100 million through an equity and debt financing round.
afriQloud and whitesky.cloud have put the foundation in place for a federated EMEA cloud infrastructure
In partnership with the European company whitesky.cloud, afriQloud has designed a completely new architecture for affordable and local cloud services.
Zuhura Innovation Africa, a women-led and youth-focused organization has launched the 3rd edition of the Africa Basque Challenge (ABC) targeting young people from around the world.
Payday, a Pan-African fintech startup announced it has joined Techstars Toronto Accelerator program.
Pan-African digital payments hub MFS Africa signed an agreement to acquire Baxi, one of Nigeria's super-agent networks. The deal, which is subject to approval from the Central Bank of Nigeria, will be the second highest fintech acquisition in Nigeria to date.
Nigerian e-Commerce fulfillment startup Sendbox announced the completion of $1.8 million seed round from investors including 4DX Ventures, Enza Capital, FJLabs and Golden Palm Investments.
During its very first “Google for Africa” event held early this month, Google announced it will be investing up to $50 million in African early- and growth-stage startups via its Africa Investment Fund.
Tech giant Google announced it plans to invest up to $50 million in African early- and growth-stage startups via its Africa Investment Fund.
Pan-African fintech startup Carbon partners with Network International to boost digital payment offering
Pan-African fintech startup and digital bank Carbon Bank has partnered with Network International, an enabler of digital commerce across Africa and the Middle East, as part of its plan to boost its digital payment offering.
Payday, a Pan-African financial technology company has raised one million dollars to build out what they believe will be the “PayPal” for Africa.
Proptech startup Nomad Homes raises $20m to digitize residential real estate across Europe, Middle East and Africa
Nomad Homes, a property technology startup that offers an end-to-end buyer experience for real estate across Europe, the Middle East and Africa, has closed a $20 million Series A funding round.
South African fintech firm Ukheshe partners with Chipper Cash startup to accelerate rollout out of digital payment offerings
South African fintech firm Ukheshe Technologies has partnered with Chipper Cash to enhance and accelerate the rollout out of Chipper’s digital payment offerings.
Africa's crypto exchange Yellow Card raises $15m Series A funding to fuel expansion across the continent
Pan-African cryptocurrency exchange, Yellow Card, announced a $15 million Series A, the largest ever by an African cryptocurrency exchange, to ramp up hiring and continue its expansion across the continent.
EMURGO, the official commercial arm of the Cardano blockchain, announced the launch of a new Cardano ecosystem investment vehicle to invest into early startup and growth stage companies focused on building socially impactful solutions powered by Cardano.
Ugandan fintech startup Fin-e Innovations raises $300,000 to bridge funding gap of African energy SMEs
Fin-e Innovations, a fintech start-up based in Uganda, has closed pre-seed funding of $300,000 from an undisclosed party in the United States.
Leading multi-category delivery platform Glovo recently announced the expansion of its operations in Africa, to include Ghana and Tunisia, bringing its current operations to a total of seven countries on the continent.
Absa Bank Kenya has partnered with Pan African impact investment platform Melanin Kapital, to launch an investor readiness program that places startups driving social impact on the path to accessing up to KES3 million in unsecured lending.
Pangea Trust has opened applications for its Startup Connect Programme, to increase the deployment of diaspora remittances and networks to provide investment capital to MSMEs and startups in Kenya, Ethiopia and Somalia.
Agricorp International, Nigerian based spices producing, processing, and exporting company has raised $17.5 million in Series A funding to increase its processing capacity up to 7000 metric tonnes.
SWVL, a Dubai-based provider of transformative mass transit and shared mobility solutions, announced that several investors, including Agility and Chimera Abu Dhabi, have completed the pre-funding of $35.5 million of the aggregate PIPE subscription.
Innovative solutions by African entrepreneurs continue to make local impact while having a global appeal.
Fintech startup Pngme raises $15m Series A funding to power the future of financial services in Africa
Fintech startup Pngme raised $15 million in Series A funding as the company sets out to grow its financial data infrastructure and machine learning-as-a-service platform for financial institutions and fintechs across sub-Saharan Africa.
Mobility fintech startup Moove raises $23m Series A funding to democratize vehicle ownership in Africa
Moove, an African mobility fintech startup, announced it has raised $23 million in Series A funding, led by Speedinvest and Left Lane Capital.
The pan-African banking group, Ecobank group, is inviting African fintech entrepreneurs to join the 4th edition of the Ecobank Fintech Challenge.
Twenty-five African female-founded tech startups have been selected for the second edition of The Future is Female Mentorship Program, a PR and communications mentorship program dedicated exclusively to African female tech founders.
Expert DOJO is committing $5 million fund to invest in early-stage African startups over the next 6-months. Expert DOJO will host the Africa-only cohort this September, marking the beginning of a long-term commitment.
From October, every African nation will showcase their innovations and culture in designated country pavilions, for the first time in 170 years of World Expos.
Speaking during the Alliance for a Green Revoluton in Africa (AGRA) organized Africa Green Revolution Forum (AGRF) Summit, speakers reiterated that food security cannot be achieved without a gvernment facilitated enabling environemnt for agribusiness to thrive.
IFC announced an investment in a new mezzanine fund managed by Vantage Capital, a mezzanine funding provider on the continent, which will provide capital to fast-growing companies in Africa.
Mapping Africa’s startup landscape between 2014 and 2020, the report provides data and analysis on venture capital (VC) deal activity in Africa in 2020 along with information about the types of investors that have participated in those deals.
South African fintech startup, Ukheshe Technologies has partnered with ForexPeople, one of the country’s names in forex with over 20 years of experience, to seamlessly facilitate cross-border payments from South Africa into Africa.
Global inclusive tech accelerator Catalyst Fund, managed by BFA Global, today formally announced its Circle of Corporate Innovators, with its first members, Fidelity Bank, Ecobank, Sterling Bank, Access Bank and the VFD Group.
Gabeya, the Pan-African source for freelance professional talent, has expanded its revamped marketplace, the first of its kind in terms of reach in Africa.
MarketForce acquires Digiduka startup to consolidate distribution of consumer goods with digital financial services in Africa
MarketForce, the end-to-end retail distribution platform for consumer brands in Africa, announced the strategic acquisition of Digiduka, a startup on a mission to bring informal retailers in Africa into the digital economy.
Speedaf express, a China-Africa integrated logistics service provider, officially announced the completion of its Round A+ financing, led by TRUSTBRIDGE, followed by Northern Light VENTURE CAPITAL, and VISION+CAPITAL on the basis of Round A.
Lori Systems, Africa's e-logistics platform has announced the appointment of Uche Ogboi as its new Chief Executive Officer effective July 1 2021.
Venture capital funding for African startups to reach $2.8 billion in 2021, a record high for the continent
African tech accelerator AfricArena recently released a new report using Partech data which has forecast that venture capital funding for African startups will amount to between $2.25 billion and $2.8 billion this year, a record high for the continent.
Smallholder farmers across Africa are looking to science to boost farm productivity and to tackle emerging threats, partiuclarly with regards to climate change and pandemics as demonstrated by COVID-19, the report further noted.
At an inflection point in their entrepreneurial journeys, Fellows will learn from MIT faculty, connect with investors, and expand their network of peer innovators.
Rice sector players in sub-Saharan Africa and Asia are set to lead discussions on accelerating progress in rice research & development, inclusive markets & value chains.
Goodwell V will build a new portfolio of companies across various sectors in Africa: at least a third will be invested in financial inclusion, a quarter in agriculture, and the remainder in mobility and other impact sectors such as education and healthcare.
Milken Institute and Motsepe Foundation launch $2 million AgriTech competition for African entrepreneurs
The Milken-Motsepe Prize in AgriTech is a $2 million global competition for innovative solutions to increase economic value to farmers, from seed to sale.
Lacuna Fund announces second round of funding to projects supporting Natural Language Processing technologies Across Africa
The partner organisations behind Lacuna Fund implemented by Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH, announced the second cohort of supported projects.
Accenture announced an investment, through Accenture Ventures, in Nigeria-based fintech company Okra, an open finance data infrastructure startup serving the rapidly expanding African financial services market.
Insurtech startup OKO raises $1.2m to bring innovative insurance to smallholder farmers across Africa
OKO, an insurtech startup that provides inclusive agricultural insurance to secure farmers’ income across Africa, closed a seed investment round of $1.2 million, led by Newfund and ResiliAnce.
New York-based startup Andela, the global talent network that helps companies build remote engineering teams, announced the global expansion of its engineering talent.
Neopenda, a Chicago-based public benefit corporation, announced a new round of funding supported by Assiduity Capital and Sorenson Impact Foundation, and the CE Mark approval of its neoGuard device.
The Program helps startups achieve 18-24 months of growth in just three months. Now, the next generation of early-stage African tech startups disrupting a wide range of industry sectors are being sought.
Appzone, the Pan-African fintech software provider building proprietary solutions for the continent’s banking and payments industries, announced the close of its $10 million Series A round.
Curacel, an AI-powered platform for claims processing and fraud management in Africa, raised a $450,000 pre-seed funding in a round led by Atlantica Ventures and Consonance.
The Hague Institute for Innovation of Law (HiiL) is calling on all game-changing justice startups that want to grow their social impact and business to participate in this year’s HiiL Innovating Justice Challenge.
To develop the potential of startups driving the internet economy, Telecel Group has opened applications for the ASIP Accelerator Program powered by Startupbootcamp AfriTech.
African Edtech startup Kabakoo receives funding from Zoom, launches first no-code training in Africa
Committed to democratizing access to tech education for the African youths, Kabakoo has launched the first no-code training in West Africa for a batch of twenty learners at its Bamako campus.
IFC announced an investment in the Savannah Fund, a technology seed fund in Africa, to increase lending to startups across sub-Saharan Africa with a focus on supporting women entrepreneurs and disruptive companies in high-growth sectors.
Three startups from Kenya are among the recipients of the inaugural $2 million Jua Fund, the largest African venture capital fund by a private individual.
Following a successful 2020 comprising eight new investments and three international exits, African focused venture capital (VC) investor HAVAÍC has announced the launch of its newest fund.
ImaliPay, an African-based fintech start-up is making waves by reshaping the future of work in the gig economy.
As one of South Africa’s most active Venture Capital investors, HAVAÍC says 2020 saw the commercial adoption of technology increase at unprecedented rates, as illustrated by the performance of HAVAÍC and its portfolio companies.
African startup StarNews Mobile launches incubator for South African youths interested in digital film
StarNews Mobile launched its grassroots Youth Initiative incubator in partnership with Solutions on Point to empower young individuals interested in the digital film industry in South Africa.
African Women in Agricultural Research and Development (AWARD) has announced that the call for third cohort of the One Planet Fellowship is now open as it seeks to invest in the next generation of African scientists.
As esports dominate modern entertainment industry as a fast growing sport, Kenya and South Africa youth continue to dominate the world of competitive video gaming.
A new White Paper published by East African venture advisory firm Kinyungu Ventures shows there continues to be a wide misalignment between traditional venture capital models and the African market.
Orange has announced that its venture capital arm, Orange Ventures has become a separate legal entity with an increased allocation of 350 million euros.
2020 was a difficult for everyone, but businesses faced an especially tough time. A few startups have, however, risen above the storm, managing to continue on their upward growth trajectory.
54gene, Kobo360, myFanPark and Sokowatch have been named among the 12 winners of AppsAfrica Awards 2020. The awards celebrates the best startups in mobile and tech from across Africa.
African startup StarNews Mobile, specialized in the field of mobile video, achieved its first fundraising with Investisseurs & Partenaires, a pioneering impact investing group dedicated to small and medium-sized enterprises in Sub-Saharan Africa.
Helios Investment Partners, Africa-focused private investment firm, announced a partnership with BİM BİRLEŞİK MAĞAZALAR (BIM), discount grocery retailer in Turkey listed on the Borsa İstanbul, to invest in BIM’s Moroccan business.
Healthtech startup Ilara Health raises $3.75m to provide life-saving diagnostics across sub-Saharan Africa
Ilara Health, a healthtech startup focused on bringing essential, affordable and life-saving diagnostics to African consumers, raised $3.75 million in Series A funding to expand its diagnostic reach across the continent.
HexGn, a consulting firm known for fast-tracking entrepreneurship and upcoming technologies globally, has joined hands with the Africa Islamic Economic Foundation (AFRIEF), to launch its flagship startup program, HexGn Startup Explore, in Africa.
InfraCredit, a specialised local currency infrastructure credit guarantee institution, announced the completion of $27 million equity investment from InfraCo Africa.
African entrepreneurs in digital agriculture will have new opportunities to secure support and investment as the African Green Revolution Forum takes on the AgriHack Talent project.
Vooora Ventures, the first SportsTech Accelerator in MENA, powered by Kooora.com, the digital sports platform in the Arab World, signed an acceleration partnership agreement with Malaeb, a community app that connects people through sports.
[Column] Patrick Ndegwa: Celebrating startups and digital businesses that are uplifting African communities
The digital economy has opened up many opportunities for global businesses. Large enterprises and small businesses have seen increased profits and enhanced productivity due to digital innovation.
25 African tech startups have qualified for the Seedstars World Competition 2020. The startups are among the 94 from emerging markets that were selected to advance to the regional stage of the competition.
African fintech startup Chipper Cash has secured a $30 million Series B funding round led by Ribbit Capital with participation of Bezos Expeditions, the personal venture capital fund of Amazon CEO Jeff Bezos.
Six African tech startups and one Jordanian startup have secured funding from Orange Ventures Africa & Middle East.
African Infrastructure Investment Managers (AIIM), Africa’s infrastructure-focused private equity fund managers, has acquired a minority equity stake in MetroFibre Networx, a South African open access fibre network operator.
Africa-focused Morocco-based B2B VC fund Outlierz Ventures has announced new investments into three Nigerian startups - Bamboo, Youverify and Healthlane.
AI Media Group launches Africa’s first AI-focused free investment matchmaking service for African startups
The AI Media Group has launched The Deal Room, Africa’s first artificial intelligence (AI) focused, free investment matchmaking service which aims to connect African AI focused startups to interested investors and venture capitalists (VCs).
Nigeria’s HR startup SeamlessHR has closed a seven-figure deal as it seeks to expand across other African markets.
Africa’s startups have never been more investible than now. There is a growing number of professional ‘super angels’ involved in record-breaking deals, and private equity investments have doubled since last year.
Mohammed VI Polytechnic University partners with Plug and Play to launch accelerator programme in Morocco
Mohammed VI Polytechnic University (UM6P), an academic and research institution, has partnered with global innovation platform, Plug and Play, to launch an Open Innovation Hub in Morocco, with the support of OCP Group.
Crypto marketplace Paxful announced it is adding Uhuru Wallet as a payment method to its platform, to help provide easy access to the crypto economy for users in Southern Africa.
Imperial partners with Kenyan logistic startup Lori Systems to expand e-logistics technology solutions across Africa
Imperial, an African and European-focused provider of integrated market access and logistics solutions, announced an investment in and partnership with Lori Systems to expand its cutting-edge e-logistics technology solutions across Africa.
Ingressive Capital, a $10 million VC fund targeting early-stage startups across Sub-Saharan Africa, announced its investment in Nigerian rental financing startup Kwaba.
Stripe has entered into an agreement to acquire Paystack, a fintech startup based in Lagos, to make it easy for organizations of all sizes to collect payments from around the world, and help increase Africa’s online GDP.
The Global Startup Awards (GSA), largest independent startup ecosystem awards platform with a mission to find, recognise and connect the future shapers of the digital age from all around the world, will now be expanding across Africa.
Mastercard announces Fintech Express to empower Middle East and Africa fintechs to launch and expand rapidly
Mastercard has launched Fintech Express in the Middle East and Africa (MEA), a program designed to facilitate emerging fintechs’ launch and expansion.
Trust Payments partners with messaging and e-commerce startup Wakanda Messenger to empower Africans around the world
Trust Payments, the global unified payments group for global pay-in, pay-out and customer journey technologies, has partnered with social network, messaging and e-commerce startup Wakanda Messenger.
Early investors in startups with exposure to the fourth industrial revolution (4IR) are benefiting from significant revenue growth despite the physical constraints introduced by governments’ responses to the Covid-19 pandemic.
Fintech startup Thunes, which operates a global B2B cross-border payments network, continues to attract investment as emerging markets take off.
Digital Horizon venture fund has invested in Y Combinator alumnus Healthlane, the startup focusing on modern, online consultations for local and remote patients, alongside traditional face-to-face public health services across Africa.
Ada Labs Africa with headquarters in Nairobi, Kenya announced that since it’s launch earlier this year, the fusion lab has acquired six startups. The Lab currently has two in the market with the other four launching in the coming months.
Startup entrepreneurs are working to harness Africa’s potential. Together they represent a critical pipeline of innovation that is driving high growth high impact solutions on the continent.
VC4A, in collaboration with technical partner AWS Activate, and network partners AfriLabs and ABAN is calling for African startups looking to raise between $150K and $1M.
The founder of Baby Grubz Nigeria, Oluwaseun Sangoleye, led Africa in winning this year’s 2020 SUN Pitch Competition.
Kenyan agritech startup Lentera, MCFI ink deal to provide satellite based crop analysis for Mauritian farmers
The Mauritius Chemical and Fertilizer Industry (MCFI), and Lentera Africa have signed a partnership that will see Lentera provide satellite-based crop health analysis and crop modelling services for Mauritian customers of MCFI.
VC4A has launched a call for African startups looking to raise between $150K and $1 million.
Twelve African entrepreneurs are among 21 finalists in this year’s SUN Pitch Competition where entrepreneurs will pitch their innovative business ideas to address malnutrition.
GreenTec Capital announces that Superfluid Labs was selected as the first investment for the newly launched ShEquity investment vehicle which focuses on providing smart and sustainable investments for African female entrepreneurs.
Following the success of its previous global calls for startups, Go Ignite, an alliance of four leading global telcos, has launched Go Ignite: 5G Open Call for Startups to engage startups or venture capital-backed companies.
CDC Group, UK’s development finance institution and leading impact investor, has committed $100 million to Helios Investors IV, the fourth private equity fund raised by Helios Investment Partners, a leading Africa-focused private equity firm.
The Africa Women Innovation and Entrepreneurship Forum (AWIEF) has launched “Enterprise Development for Women-Owned Ventures in Green Energy” and announces the call for applications for Startup Incubator in Malawi and Nigeria.
The Digital Africa seed fund off to a promising start, offers customized support for African startups
The Digital Africa seed fund for innovative entrepreneurship in Africa is off to a promising start. Just six months on from its launch, already, one third of the €15 million for technical and financial assistance has already begun to flow.
The Tunga Academy offers free online courses for African tech talent and is part of the company’s investment program for educational resources.
Ingressive Capital has doubled its investment vehicle to back high-growth, tech-enabled startups across Africa, and now operates a $10 million fund.
Andela, the global talent network that helps companies build remote engineering teams, will now accept engineers from all African countries, expanding its presence from six countries to the entire continent.
East Africa fintech startup Beyonic announced that the company has been acquired by MFS Africa. MFS Africa operates Africa’s largest digital payments hub, connecting more than 200 million mobile wallets on the continent.
Google for Startups Accelerator, formerly known as Launchpad, Africa Class 5 will be done remotely. This year Google says it will be hosting 20 startups instead of 12
Suguba in partnership Mercy Corps and the French Development Agency (AFD) and Mercy Corps - is organizing their second 6-month investment readiness program in West Africa to support the 8 most promising startups.
Partnering with technical partner AWS Activate, VC4A will be hosting the exclusive ‘Venture Showcase - Series A’ in October as part of a virtual gathering of Africa-focused early-stage investors.
Solar leasing startup Sun Exchange secures $3 million investment from ARCH for African market expansion
South African solar leasing startup Sun Exchange has secured a $3 million investment from ARCH Emerging Markets Partners’ Africa Renewable Power Fund (ARPF), marking the close of $4 million Series-A funding round.
Orange Ventures launches MEA Seed Challenge to finance entrepreneurs of seed startups in Middle East and Africa
Orange Ventures launched the MEA Seed Challenge to give entrepreneurs in Africa and the Middle East the means to launch and develop their business.
Bolt raises €100m from Naya Capital to expand transport, food delivery services in Europe and Africa
Estonia-based Bolt has closed an investment round of €100m from Naya Capital Management to help the company continue to scale its product segments from ride-hailing to micro-mobility and food delivery in Europe and Africa.