- 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…
- 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-…
- 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…
- 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…
- South African insurtech startup Pineapple has raised ZAR400 million (US$21.3 million) in Series B funding to boost its growth. Founded in 2017, Pineapple allows the company to service customers at 20 per cent of the cost of traditional insurance providers. This enables them to pass on this cost…
- ARC Power is a leading provider of sustainable and clean energy solutions. The strategic funding by Triodos Investment Management (Triodos IM) and Oikocredit will enable ARC Power to accelerate its mission of providing grid-connected clean energy access to over 100,000 people across Rwanda, in the…
- Shekel Mobility, a B2B marketplace for auto dealers in Africa, raises $7M led by Ventures Platform and MaC VC to reinforce his activities. In January, the startup announced that it raised a $1.95 million pre-seed to pursue its ambition of building the largest Auto dealership ecosystem powering $10…
- Mediterrania Capital Partners, a Private Equity firm focused on growth investments for SMEs and mid-cap companies in North Africa and Sub-Saharan countries to announce that British International Investment (BII), UK’s development finance institution and impact investor, will be investing €15…
- Last week, the CEO of GetFundedAfrica, Debo Omololu , had the honor of participating in the Uzemiafrica Leadership Summit for Women in Tech—an impactful event held in the heart of Ikorodu, Lagos, aimed at fostering empowerment and inclusivity within the tech industry. The summit, strategically…
- Founding members of a new private-sector focused Alliance for Special Agro-Industrial Processing Zones (SAPZ) have announced $3 billion in new investment to transform Africa’s underdeveloped rural areas into agro-industrial corridors of prosperity. The Alliance, comprising development financial…
- The OPEC Fund for International Development (the OPEC Fund) is supporting sustainable water supply in Rwanda with a new US$21 million loan. The expansion of the Karenge Water Supply System Project will benefit the population of Rwanda’s capital Kigali and surrounding areas in the Rwamagana District…
- Stepping up their support for African partner countries ahead of the crucial COP28 climate change conference, the Arab Coordination Group (ACG) has announced that it aims to allocate up to US$50 billion to help build resilient infrastructure and inclusive societies in the African continent. The…
- Sterling Bank says it is committing N1bn to agro-innovators at the upcoming 5th edition of its annual event, Agric Summit Africa, known for its contributions to the agriculture sector. A statement said, this year’s event, themed, ‘Empowering innovations: A confluence of capital, vision, and…
- Sterling Bank has announced that it would be partnering with the Small & Medium Enterprises Development Agency of Nigeria to create an all-encompassing database of Small and Medium Scale Enterprises in Nigeria. The bank stated that the initiative would enhance intervention programmes and…
- Africa should think big on digital development. At the current, incremental pace of economic and social advancement, too many of Africa’s expanding youth population will be denied the opportunity to live up to their potential. Digital technologies offer a chance to disrupt this trajectory –…
- It was an honor for GetFundedAfrica to have the opportunity to contribute insights during the visit of Ramin Toloui, the Assistant Secretary of State for the Bureau of Economic and Business Affairs at the U.S. Department of State, to South Africa and Nigeria. As a platform dedicated to fostering…
- Private equity firm RMB Corvest, in partnership with BEE investment vehicle Shalamuka Capital, has acquired a minority stake in Switch Telecom, a Voice over Internet Protocol (“VoIP”) telecommunications service provider. Switch Telecom designs, develops, customises and maintains cost-effective…
- In a successful move to bolster its operations, CloudFret, a transport and logistics startup, recently concluded a new funding round, securing €2 million ($2.1 million) from investors AfriMobility and Azur Innovation Fund. The startup, operational in Morocco since 2021 and extending its presence to…
- Egyptian Edtech startup AKHDAR has secured six-figure US dollar funding from Saudi Arabia-based venture studio ‘’Value Maker Studio (VMS)’’ to expand its presence in the Kingdom. AKHDAR, a leading edtech startup, offers a unique service in the form of Arabic audiobook summaries. What began as a…
- ACI Worldwide, a global player in mission-critical, real-time payments software, and Interswitch Group, Africa’s integrated payments and digital commerce company, have announced a new frontier in their 20-year-old relationship which consolidates Interswitch’s relationship with ACI from reseller to…
- IBM has announced that it is launching a $500 million venture fund to invest in a range of AI companies – from early-stage to hyper-growth startups – focused on accelerating generative AI technology and research for the enterprise. With a differentiated model and strategy consisting of domain…
- 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…
- Carnegie Mellon University Trustee Ray Lane and his wife, Stephanie, have invested $25 million in support of the university’s boundary-breaking Computational Biology Department. The gift will establish an endowment to support the program’s strategic priorities and provide the funding for its future…
