The British International Investment (BII), the UK government’s Development Finance Institution (DFI), announced a $20 million, 4-year structured credit investment in Moove, a mobility fintech democratising access to vehicle ownership in Africa.
Nigerian at-home lab testing startup HealthTracka has raised $1.5 million in funding to expand its operations into Kenya and Ghana. The pre-seed funding which was led by Ingressive Capital.
Nigerian fintech firm VeendHQ announced it has secured $330k pre-seed fund, backed by Magic Fund, The Oak Capital, Future Africa, Berrywood Capital and other angel investors, to expand its operations and scale growth.
Nigerian fintech startup Indicina announced it has raised $3 million in seed funding round to foster its commitment to the credit value chain.
Constant Ventures, a part of the Constant Group, is raising a $100 million venture capital fund to invest across a range of technology startups with a focus on financial inclusion, education and healthcare.
Nigerian edtech startup Afrilearn has emerged as the only Nigerian startup to join the latest cohort of the UNICEF Venture Fund.
Nigerian fintech startup Grey, announced the launch of its service to East Africa starting with Kenya in partnership with payments company, Cellulant.
Nigerian retail tech startup TradeDepot appoints Chidi Akubuiro as Managing Director for West Africa
TradeDepot, a B2B e-Commerce and embedded finance platform in Africa, has appointed former Coca Cola HBC and Hayat Kimya Nigeria Executive, Chidi Akubuiro as its Managing Director for West Africa.
Norebase, a Nigeria-based trade technology firm announced it has secured $1 million pre-seed funding round, co-led by Samurai Incubate and Consonance Investment.
Nigeria’s technology innovation centre Co-creation Hub (CcHUB) in collaboration with Google, Ministry of ICT and Innovation Rwanda, and Mojaloop Foundation, announced the nine startups selected for the Fintech Incubation Programme
ETAP, an insurtech startup that makes it easier to buy and claim insurance, has secured $1.5 million in pre-seed funding to grow its team and drive the adoption of much-needed car insurance across Africa.
Nigerian fintech startup ImaliPay closes $3m seed funding to bring financial services to gig workers
Nigerian fintech startup ImaliPay has closed $3 million seed funding round to bring financial services to gig workers.
Access Bank has partnered with financial infrastructure startup Credrails to develop open finance rails that will dramatically improve the experience of banking customers across the continent.
French-Nigerian B2B startup Kwik, a fast-growing provider of SaaS logistics services to social vendors and e-commerce platforms in Africa, has announced that it successfully closed its $2 million Series A round.
Big Cabal Media [BCM], a pan-African media company headquartered in Nigeria, has announced the close of its Seed Series fundraising round at $2.3million, led by MaC Venture Capital.
Smart addressing startup OkHi secures $1.5m seed funding to drive smart address verification in Africa
Smart addressing startup, OkHi, has secured a $1.5 million seed extension, bringing the total of its seed funding to $3 million. This raise is supported by notable firms and individuals who, beyond funding, bring a wealth of expertise to OkHi.
Cadana, the salary on-demand startup has expanded operations into Nigeria following a strategic partnership with Flutterwave, Africa’s leading payments technology company.
African fintech startup Flutterwave has unveiled a significant re-brand and identity during the Flutterwave 3.0, virtual event held on Friday, 18th February 2022.
Nigerian fintech startup Earnipay which provides flexible and on-demand salary access to income-earners has closed a seed round of $4 million.
Remedial Health joins Y Combinator, raises $1m pre-seed funding to digitize Africa's neighbourhood pharmacies
Remedial Health, a healthtech startup that develops solutions to make Africa’s pharmaceutical sector more efficient, has raised $1 million in pre-seed funding to roll out its digital procurement.
Abugre also noted that questions remain with regards to the future of cocoa production given global price trends, climate change, farmers stepping into the sector, and income distribution effects at the local level.
Reliance Health, an emerging markets-focused digital healthcare provider, announced the completion of a $40 million Series B funding round led by General Atlantic, a global growth equity investor, with participation from Partech.
Casava, Nigeria's digital insurance company has secured $4 million in pre-seed funding to provide affordable and accessible insurance products for millions of Nigerians.
To better engage with communities in the diaspora, Nigerian proptech startup Seso Global has launched regional offices in the United States (US) and the United Kingdom (UK).
Nigerian fintech startup P2vest Technology announced that its peer-to-peer lending application, P2Vest has hit 100,000 users with access to quick loans.
Nairobi-headquartered blockchain community Sankore is launching the Sankore Pitch Competition Tour (PCT) in Nairobi.
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.
Since the beginning of 2021, Africa-based tech startups have raised more than $2.9 billion with Nigerian startups which are creating new products, services, and platforms raising $1.7 billion of this total or about 60% of it, a new report has found.
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.
In what it says is to further deepen mobility, Autochek Africa, the leading auto tech platform, has launched a dedicated brand new cars section on the Autochek website and mobile app.
Adanian Labs has launched the Adanian Labs Venture Building Program call for startups for 2022. The program invites applications from tech entrepreneurs for the 2022 cohort of exceptional startups to join Adanian Labs in Kenya, Tanzania, Zambia, Nigeria and South Africa.
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.
Nigeria’s autotech platform, Fixit45 announced the acquisition of Parkit, a network of tech-enabled autocare and car wash centres.
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.
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.
Israeli femtech startup illumigyn partners with Peramare Pharmaceuticals to bring innovative gynecological imaging platform to Nigeria
illumigyn, world's first remote gynecological imaging platform, announced its new distribution agreement with Peramare Pharmaceuticals Nigeria, to deploy 5,000 Gynescopes in Nigeria by 2026.
To date, Payhippo has disbursed 5000 loans to small businesses across Nigeria
Workpay, a Nairobi-based YC graduate, is expanding its operations to Nigeria. The cloud-based workforce management startup will now offer Core HR, Payroll, and employee record services to organizations in the country.
Nigerian Auto financing startup Autochek secures $13.1m seed funding to deepen West African footprint
Autochek, the Nigerian automotive startup which recently expanded to Kenya, has secured $13.1 million in seed funding.
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.
Brass, a Nigerian digital bank delivering easy access to affordable premium banking services for SMEs, secured $1.7 million in funding to address the heavily underserved banking needs of local entrepreneurs, traders, and fast-growing businesses.
Adedokun Muhammed-Ali Adedeji is a Nigerian innovator, entrepreneur and logistics manager. A green mobility advocate, Adedokun is the founder of Brightcloud Automotive.
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.
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.
Femi Apesin is the Head of Growth and Marketing at OnePipe, a Nigerian startup that has raised almost US$1 million in a pre-seed round with a plan to make API integration seamless for banks and fintech companies.
Nigerian fintech startup Infibranches secures $2m funding from All On to drive growth in the renewable energy sector
Shell-funded impact investment company All On announced a $2 million investment in fintech company, Infibranches Technologies, to help bridge the energy distribution gap in underserved rural and peri-urban areas of Nigeria.
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.
Nigerian agritech startup Releaf secures $4.2m funding to drive industrialisation of food processing in Africa
Nigeria's agritech startup Releaf, which develops proprietary hardware and software solutions to industrialize food processing, raised $2.7 million in seed funding and grants.
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.
Nigerian mobility startup Plentywaka raised $1.2 million seed round, after successfully ending the Techstars Toronto Accelerator Program in July 2021. The startup also announced it has fully acquired Ghana’s mobility startup Stabus.
Nigerian healthtech startup Field Intelligence expands into eleven new cities across East and West Africa
Nigerian healthtech startup Field Intelligence announced its expansion into Rivers, Edo, Kaduna, Kano, Enugu, Delta and Kwara States in Nigeria, and Eldoret, Mombasa, Kisumu and Naivasha in Kenya.
Oxford Foundry and FMDQ Private Markets have launched a global partnership to accelerate the growth of Nigeria’s startup ecosystem.
Nigerian fintech and lending startup Lidya announced the completion of its $8.3 million pre-Series B funding round. Alitheia Capital led the investment through its uMunthu Fund with the participation of Bamboo Capital Partners.
Marketforce, the Kenyan-based B2B platform for retail distribution of consumer goods and digital financial services in Africa, announced the appointment of Ore Omolaja as the Nigeria Country Manager and Head of Business, effective 15th July 2021.
IFC’s TechEmerge partners with logistics startup Kobo360 to pilot sustainable cooling innovations in Nigeria
Eleven global innovators have been selected to partner with 15 leading Nigerian companies to pilot cost-effective, climate-smart technologies to strengthen the country's temperature-controlled logistics supply chain.
Nigerian fintech startup TeamApt has closed its Series B fundraising round, as it looks to expand its financial services beyond Nigeria.
With this funding, the company is launching ‘SentinelX’, a digital health membership that champions preventive, personalized, and continuous care using proprietary technology.
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.
A natural partner for the Trade Hub, Thrive Agric has already helped over 140,000 farmers in Nigeria increase their capacities to meet supply, quality, and food safety standards required by domestic and export markets.
At an inflection point in their entrepreneurial journeys, Fellows will learn from MIT faculty, connect with investors, and expand their network of peer innovators.
Uhuru Investment Partners (Uhuru), a middle-market private equity firm based out of Lagos and Abidjan, announced the first close of Uhuru Growth Fund I (UGF) at $113 million, with capital support from CDC Group.
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.
After the release of its plugins for Shopify and Magento, Kwik Delivery has released its plugin for Prestashop.
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.
Known as Konn3ct, the new App was developed by a young company, called Newwaves Ecosystems, led by former Chams Nigeria executive, Femi Williams.
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.
Nigerian last-mile delivery startup Kwik Delivery has announced that it has closed its pre-Series A financing round. The company successfully raised $ 1.7 million in equity from institutional and high net worth investors.
Nigerian fintech startup Team Apt has launched an internship program to support women in Technology. The program will run for six months providing a platform for young women to grow their skills.
Kenyan based startup Ajua has partnered with MTN Nigeria to launch EnGauge, a digital e-Commerce customer engagement management mobile app to support SMEs.
Nigerian startup Kwik Delivery announced it officially made available its breakthrough, just-in time delivery service to businesses, government agencies and merchants in Abuja.
Nigerian fintech startup Flutterwave raises $170 million to develop complementary innovative products
Founded by entrepreneur Olugbenga Agboola in 2016, the company’s valuation is considered to be valued at more than $1 billion.
Kwik Delivery has announced today that it is expanding its app-based breakthrough delivery service to 4-wheels delivery vehicles.
Union Bank, one of Nigeria’s foremost financial institutions, has unveiled the 2021 UnionX Innovation Challenge, as part of efforts to support young startups and boost innovation in the startup ecosystem.
Adjuvant Capital announced an oversubscribed $300 million fund focused on accelerating the development of medical innovations for historically overlooked public health challenges.
Kenyan fintech startup Popote Payments has raised an undisclosed amount of funding from Lagos-based fintech investment company GreenHouse Capital.
Echelon Capital has announced plans to inject $1 million in funding in Nigerian tech startups beginning February 2021.
CARMA is an African-based startup offering proprietary decentralized technology allowing lenders to get more value by accessing data on a real-time basis. While non-lending organizations can also monetize their data which will increase their number of lenders.
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.
Xpora Academy is a Nigeria-based e-learning platform that equips the youth with in-demand digital skills relevant to the present and future of work.
InfraCredit, a specialised local currency infrastructure credit guarantee institution, announced the completion of $27 million equity investment from InfraCo Africa.
IFC, a member of the World Bank Group, in partnership with Kobo360, an African digital logistics platform, announced an open call for innovators from around the world to bring climate-smart, temperature-controlled logistics (TCL) cooling solutions to Nigeria.
Nigerian consumer credit startup CredPal raised a $1.5million funding round, as the startup prepares to launch its credit cards for consumers in Nigeria.
Nigerian mobility startup Plentywaka, announced the launch of a new car-hailing service, Wakacab in Asaba and Warri Delta State, borne out of the need to expand and improve on the limited transport links in southern Nigeria.
Nigerian e-commerce startup Kwik Delivery has partnered with Total Nigeria, to develop an e-commerce fulfilment and delivery service in Nigeria.
Africa-focused Morocco-based B2B VC fund Outlierz Ventures has announced new investments into three Nigerian startups - Bamboo, Youverify and Healthlane.
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.
Kenya’s technology Incubation and Accelerator space iHub owned by Co-creation Hub (CcHUB) has announced the acquisition of edtech startup and digital educational content provider eLimu.
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.
Nigerian mobility startup MAX.ng partners with DLM Capital to transform transportation finance in Africa
Metro Africa Xpress, a mobility platform in Nigeria and West Africa, announced the successful issuance of a ₦400m 1-year fixed-rate notes under its newly structured ₦10bn/$22m Private Company Bond program.
AirSmat, a Nigeria-based Pan-African Software company, has received a boost of $100,000 from Zetogon as pre-seeding investment to help the organization on the journey to deliver world-class service in Africa.
Nigeria's financial services provider ARM launched ARM Sandbox, a new and more efficient way for fintechs to scale their integration and customer acquisition plans.
Nigerian e-commerce startup Kwik Delivery releases WooCommerce plugin, enabling 2-hour deliveries for online merchants
Nigerian e-commerce startup Kwik Delivery released a WooCommerce plugin, enabling thousands of Nigerian online merchants to integrate seamlessly its delivery service to their WordPress online stores.
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.
Twelve renewable energy start-ups have successfully completed a 16-week incubation program run by the NCIC and funded and supported by off-grid energy impact investment company All On.
Nigerian mobility startup Plentywaka secured a pre-seed investment led by Emfato, Microtraction, and Niche Capital worth $300,000.
The founder of Baby Grubz Nigeria, Oluwaseun Sangoleye, led Africa in winning this year’s 2020 SUN Pitch Competition.
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.
Catalyst Fund, the global inclusive fintech accelerator, has announced that six new fintech startups, from Nigeria, South Africa, Mexico and India are joining its existing portfolio of 31 companies.
Nigeria's First City Monument Bank (FCMB) has partnered with Passion Incubator, a Lagos-based early-stage incubator and accelerator that has invested in some Agritech startups, to launch the virtual edition of the FCMB Agritech Epic Pitch 2020.
GreenTec Capital Partners announced its investment in Pricepally, an innovative digital Nigerian wholesale platform allowing users to purchase food and other products either individually or as a part of a group.
Nigerian fintech startup Wallets Africa has raised an undisclosed amount of funding to expand its operations and continue its quest to become Africa’s foremost borderless digital payments platform.
In Africa, the use of GIS and Remote Sensing as a tool for problem solving is still in its early stages especially for location based services.Nigeria-based NBE Consults is working to change this narrative.
Timi Oke is the founder of AgroEknor International Limited in Nigeria that trades and exports processed agricultural products `agricultural products to clients in 9 different countries globally.
Hasania Foods Ltd, a startup in Nigeria is assisting farmers by adding value to a variety of agriculture products and introducing new ways of packaging foods. Yassir Ali the founder and CEO of the startup explains the model, the challenges and the plans to expand to West Africa.
Tomato Jos, an agro-processing company focused on the local production of high-quality tomato paste for the African market, has completed a €3.9 million Series A round.
Carbon in an effort to improve the experience of its customers, has launched Carbon Express - A keyboard extension that allows customers to access Carbon services from within whatever app they are using.
Lagos-based healthcare startup Helium Health has completed a $10 million Series-A funding round. Global Ventures and Africa Healthcare Masterfund (AAIC) co-led the investment round.
Debmark Allied Farms, a Nigerian agriculture and manufacturing startup runs innovative solutions meant to curb food wastage that continues to take a toll on household incomes and national economy.
Richard Juwah is the CEO of Richee Media, a full service Social Media agency based in Nigeria with both local and international clientele.
Mathias Pwol is the CEO and producer of Trillaman Studio, an entertainment and media startup based in Lagos Nigeria. It offers music production, radio jingles, adverts, documentary, movie sound productions services with a mission of supporting talents across Africa.
Dr.3pleA Company is a tech startup domiciled in Nigeria that offers a host of services among them HR Management consulting, e-learning and provision of information on investment in real estate
Dochase is a Nigerian data startup that assists businesses understand their markets, clientele with a view to boosting their sales and customer numbers. Goodnews Chibuke the CEO talked to Africa Business Communities about the startup’s business model.
Babatunde Akin-Moses is the CEO of Sycamore a Nigerian company offering peer to peer lending while connecting lenders to borrowers.
Go Ads Africa is an advertising technology company that brings efficiency and granular pricing to the advertising scene. It relies on a hybrid Ad network that serves both digital and traditional media.
Fahim Saleh founded the Lagos-based transport service app, Gokada, in February 2018. He now holds the position of co-CEO alongside Ayodeji Adewunmi. Gokada has since become an accepted and often-used means of efficient transport in the populous city.