- PayU has reached an agreement with Rapyd, a leading Fintech-as-a-Service provider, that Rapyd will acquire PayU’s Global Payments Organisation (GPO) for a total cash consideration of US$610m. The transaction will enable PayU to focus on the large payments and fintech opportunity in India, where it…
- Here's what happened in the African VC scene between July 24 and 28, 2023.
The post VC Trends Watch: July 24–28, 2023 appeared first on GetFundedAfrica Media.
- Micro, small, and medium-sized firms (MSMEs) constitute the backbone of the Nigerian economy, accounting for more than 60% of GDP growth and playing a crucial role in job creation. According to the National Bureau of Statistics, there are over 39 million such firms, and 87% operate informally,…
- Emtech, an African provider of central banking infrastructure, introduced its Central Bank Digital Currency (CBDC) Innovation kit last month. The kit caters to fintechs and financial service providers interested in experimenting with solutions and business models based on digital currencies…
- Flutterwave, Africa’s leading payments technology company, today announced the enhancement of its $end Mobile product, now Send App by Flutterwave, to facilitate faster, easier, and more affordable money transfers from people in the diaspora to their families, friends, and loved ones in Africa.…
- Prembly, which bills itself as a leading compliance and security infrastructure company in Africa has announced its acquisition of secure data sharing company Tunnel. This acquisition enhances Prembly’s suite of security solutions and expands its financial services capabilities, providing reliable…
- South African venture capital firm, REdimension Capital, has raised over $10 million for its inaugural fund, the REdimension Real Estate Technology and Sustainability Fund I. This is the first close of the fund, which counts Rand Merchant Bank, Investec Property Fund, and Growthpoint Properties as…
- FSD Africa Investments (FSDAi), in collaboration with InfraCredit, have invested £10m into a first-of-its-kind risk-sharing backstop facility, designed to unlock local currency funding for sustainable infrastructure development in Nigeria. The Risk Sharing Backstop Facility (RSBF) will address the…
- In a recent speech addressing the nation’s serious economic challenges, the President of the Federal Republic of Nigeria, Pres. Bola Ahmed Tinubu highlighted a series of policy measures to revitalize the economy and address major imbalances that had hindered its growth for years. While these policy…
- The Johannesburg Stock Exchange (JSE) has partnered with big xyt, a global independent provider of smart data and analytics solutions, to launch big xyt ecosystems. The joint venture entails the formation of a new company: big xyt ecosystems. big xyt ecosystems will deliver the innovative Trade…
- Flapmax, an artificial intelligence (AI) company, has announced its strategic partnership with Intel, the global technology leader, to foster AI innovation and drive economic empowerment in Africa. The collaboration will provide technology access, training, mentorship, and funding opportunities to…
- Nigeria’s Remedial Health, an e-health startup that develops solutions to make Africa’s pharmaceutical value chain more efficient, has secured US$12 million in an equity and debt funding round to deepen the penetration of its services in Nigeria and support the delivery of targeted financial…
- Swedfund invested USD 5 million into Transform Health Fund (THF) managed by AfricInvest. It is a blended-finance fund that will invest in African health care. The aim is to scale up proven and innovative models and initiatives that improve access to affordable care, thereby increasing the quality…
- Bboxx, the data-driven super platform, is announcing a new partnership with Spiro, the largest Electric Vehicle (EV) company in Africa, to accelerate and democratise the continent’s clean mobility transition. Underpinned by Bboxx’s innovative asset financing model, the alliance will accelerate the…
- Tagger Media, the global technology player making influencer marketing more intelligent, has announced its expansion into South Africa through an exclusive partnership with Tribeez, an influencer marketing and social intelligence agency based in Cape Town. The market for global influencer marketing…
- Kaco, the Tunisian startup that is revolutionising the electric scooter industry, has recently achieved a significant milestone through a new fundraising round. This successful round of investment will provide the necessary financial support to Kaco, allowing them to finalise the construction of a…
- Norfund, the Norwegian Development Finance Institution, and Unilever Nigeria have made substantial investments in Wecyclers Nigeria Limited, a recycling company headquartered in Lagos. Norfund has committed Euro 2 million (equivalent to approximately USD 2,247,790.00) as a convertible loan, while…
- Visa, the prominent global payments technology company, has proudly declared Cayesh as the victorious contender in the fintech Start-Up competition at Seamless North Africa. As the platinum sponsor of Seamless, North Africa’s most significant event encompassing payments, fintech, and banking…
- Vantage Capital, Africa’s mezzanine fund manager, announced today that it closed a €30 million equity investment for the acquisition of a significant minority stake in Promamec, a Moroccan medical distribution business. The funds invested by Vantage Capital facilitated the exit of the private…
- FarmWorks, a Kenyan agtech that provides farmers with access to farm inputs, and market for their produce, has raised $4.1 million in a pre-Series A round led by Acumen Resilient Agriculture Fund, an existing investor. Livelihood Impact Fund, Vested World, a number of family offices and angel…
- Terragon, a prominent data and cloud martech company in Africa, offers products to provide its clients, primarily telecommunications and financial services companies, with data on the continent’s growing consumer markets. One of its main products, Adrenaline, enables telcos to monetize data and…
- For starters, WhatsApp is the most popular messaging app in the world with over two billion users in 180 countries. It is also the messaging market leader in every country except 25 — outperforming Facebook Messenger and WeChat competitors.
The post As Twitter Rebrands to X, WhatsApp Usage Surges…
- It’s Friday, and time to delve into the venture capital activities (and more) in the African start-up ecosystem. Here’s what happened between July 17 and 21, 2023. UNDP & Egypt Government Launched Project to Accelerate Digital Innovation Last week, the United Nations Development Program (UNDP)…
- Release by Scatec (“Release”) signed an agreement to raise USD 102 million (NOK 1 billion) in funding from Climate Fund Managers (“CFM”) to further accelerate its growth ambitions. Release was established by Scatec ASA in 2019 to offer a flexible leasing solution of pre-assembled and modular solar…
- Egyptian startup Exits MENA, a fintech investment banking marketplace, has extended its seed round to US$1.25 million with investment from Silicon Valley-based venture firm Practical VC. Founded in 2022 by Mohamed Aboulnaga, Ahella El Saban and Ayman El Tanbouly, Exits MENA aims to facilitate M…
- Nigerian e-health startup Clafiya has raised a US$610,000 pre-seed funding round to help accelerate its growth, finance product development, and hire tech talent. Founded in 2021 by Jennie Nwokoye, a systems engineer with experience at Deloitte and AWS, Clafya aims to widen access to affordable…
- Nigerian insurtech startup MyCover.ai has closed a US$1.25 million pre-seed funding round to bolster its in-house operations and tech talent, invest heavily in its proprietary technology, and strategically expand its operations into other African markets. Founded in 2021, MyCover.ai is focused on…
- Kenyan startup Zuri Health has secured additional funding from Five35 Ventures to help it scale its innovative healthcare platform to benefit more people. Zuri Health, a virtual, mobile-first, on-demand healthcare platform that helps patients quickly and easily access healthcare from certified…
- Rwandan startup Kasha, a digital platform for last mile access to health. has raised a US$21 million Series B funding round to help it expand across the continent. Launched in 2016, Kasha is a digital retail and last mile distribution platform for pharmaceuticals and fast-moving consumer goods…
- According to various sources, Trevor Noah, the South African comedian, actor, television host, and radio DJ has a networth of $100m. Trevor earns an estimated $15m-$20m annually coming from his pay as the host of the daily show (estimated at $8m) as well as standup comedy tours, book royalties, TV…
- A young entrepreneur was nervous as she prepared to pitch her business idea to investors. She had been working on her idea for months, and she was passionate about it. But she knew that if she wanted funding, she would need to give a great pitch. After taking a deep breath, she began her…
- Here lies the urgency for self-care.
Every African going through the daily grind of survival requires self-care. Especially African start-up founders. No matter how minuscule or infrequent. And we found five ways to incorporate it into your start-up life.
The post Obliged to be an individual:…
- The African capitalist is not just a concept but a movement that is gaining momentum across the continent.
The post The African Capitalist appeared first on GetFundedAfrica Media.
- Welcome to another Friday of tracking activities in the vibrant and ever-evolving African start-up ecosystem. Here’s what happened in that space between July 10 and 14, 2023. Flutterwave Launched Tuition for Easy Tuition Payments Last week, Nigerian FinTech company and one of Africa’s unicorns,…
- GFA( GetFundedAfrica) and The Bulb Africa Partner to Provide Tech Training and Job Placement Support to Young Graduates in Ogun State GFA and The Bulb Africa have partnered to provide tech training and job placement support to young graduates in Ogun State. The partnership will enable young…
- Flash, Egypt’s new cashless payments app, has raised $6 million seed round to accelerate its product development and customer and business acquisition in the country. The round was led by Addition with participation from fintech venture capital firm Flourish Ventures and other strategic angel…
- Egyptian digital savings startup Menthum has secured an undisclosed pre-seed round of funding to help it expand its team and develop its infrastructure. Launched last November by veteran professionals Himanshu Shrimali and Ismail Sarhank, Menthum is a B2B and B2C digital savings platform that…
- Are you struggling to find the right investors for your business? Do you feel like you’re wasting time and money reaching out to investors who aren’t a good fit? If so, you’re not alone. Many entrepreneurs and businesses find it difficult to target the right investors. But it doesn’t have to be…
- Celebrities have influence, and they are able to use that influence to drive good things (and bad things). Last year, Kim Kardarsian set up SKYY Partners and recently announced that SKYY is looking to raise $1 billion to invest in consumer startups. At face value, you may ask what does Kim know…
- It is another Friday, and as usual, I come bearing gifts on the latest happenings in the African VC scene. Here is a look at what took place in that last week. Zambian FinTech, Union54, Launched ChitChat with Mastercard Last week, Union54, one of the leading providers of innovative digital…
- GetFundedAfrica (GFA) operates a cloud-based technology company focused on building software apps that make it easier for African businesses to grow, tell their stories and to get funded. We built and rolled out, the first (1st ) African Startup Ecosystem platform that aggregates entrepreneurs,…
- As a startup planning to fundraise or already fundraising, you understand the importance of building and nurturing relationships with investors, and supporters. Our CRM solution is designed to streamline and optimize your fundraising processes, empowering you to efficiently manage your…
- Vodacom Eastern Cape region will invest over R500 million into the network and power backup upgrades across the province during the 2023/2024 financial year. This significant investment into the network will help the region expand connectivity in deep rural areas and townships that had no…
- 10 Southern African fintech startups have each received $5,000 (R94,020) from the World Bank to help bridge the gap in financial access for innovative emerging companies in underserved communities. The award was part of a Fintech Challenge aimed at helping underserved entrepreneurs in the region…
- Digital payments company Pesapal has partnered with Sokohela, a digital credit provider to launch a new credit product for small and medium-sized enterprises (SMEs) in Kenya. The loan product will offer financing solutions for SMEs that face challenges in accessing credit from traditional sources…
- Tanzania has secured a $60 million loan from the Organization of Petroleum Exporting Countries Fund for International Development (OPEC Fund) for the construction of a 166km over-head electricity transmission line connecting consumers in the Kagera region to the national grid. The $60 million loan…
- Reliance Infosystem, an organisation creating enduring partnerships with their customers by providing suitable technology inputs to support their business goals, and GetFundedAfrica (GFA), a cloud-based tech platform uplifting African individuals and economies through technology, learning, and…
- IFC, a member of the World Bank Group, issued a new US dollar global benchmark bond, raising $2 billion to support private businesses in developing countries. Support for the new five-year benchmark was strong and the trade attracted orders over $3.95 billion. “The strong and diverse interest in…
- Berlin-based Nigerian HR-tech startup Propel has secured $2.74 million in seed investment to build ecosystems to power the future of work. The funding round was led by Amsterdam-based No Such Ventures, with participation from APX (an accelerator by Axel Springer Digital Ventures and Porsche Digital…
- Zambia’s Union54, a leading provider of innovative digital financial solutions, has partnered Mastercard to launch social commerce platform ChitChat. A Y Combinbator alumni, Union54 has developed a number of tools to propel African commerce forward. The startup works with financial technology…
