VC Funding
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News
The Rise of Female Tech Founders in Africa
In recent years, Africa has witnessed an encouraging surge in the number of female tech founders who are reshaping the…
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Startups
Kenyan Online Pharmacy MYDAWA Raises New Round of Funding
MYDAWA, the Kenyan digital health platform, has secured a new funding round to expand its services across East Africa. The…
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News
Ghana-Based Energy Startup Kofa Raises $8.1m to Expand Across East and West Africa
Ghanaian energy tech company Kofa has raised $8.1 million in a pre-Series A round to expand its battery-swapping network across…
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Startups
Yango Group Launches $20M Ventures Fund to Support African Startups
Global ride-hailing and tech conglomerate Yango Group has announced the launch of Yango Ventures, a $20 million corporate venture fund…
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News
[Nigeria] Fintech startup Payhippo rebrands to Rivy, raises $4M in pre-series A funding
Rivy, an AI-powered lender for Africa’s renewable energy sector, has announced its rebrand from Payhippo and the successful closing of a…
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Startups
MANSA Raises $10M to Tackle Cross-Border Payments Liquidity Challenges
MANSA, a global fintech innovator in cross-border payments, has announced the successful close of its $10 million funding round. This…
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News
Fintech firm NjiaPay secures $1M+ to simplify payments for African businesses
NjiaPay on Tuesday announced the closing of an oversubscribed $1 million+ pre-seed funding round. The round was led by HAVAÍC,…
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News
Nigeria’s PBR Life Sciences Raises $1M to Advance AI-Driven Healthcare Analytics Across Africa
PBR Life Sciences, a leading big data aggregator in life sciences and healthcare, has raised $1M in pre-seed funding. The…
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Startups
Senegal’s eMobility Startup Solarbox Africa Secures $1m Pre-Seed Funding
Senegal’s eMobility solutions provider and energy startup Solarbox Africa on Thursday announced the closing of its $1m Pre-Seed round. The…
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News
BasiGo Secures $42 Million In Funding
BasiGo, the Kenyan electric vehicle manufacturer has closed US$42 million in new funding led by Africa50, the pan-African infrastructure investor…
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Startups
Biogas Tech Firm Sistema.bio Secures $15M for Global Expansion
Sistema.bio, a biodigester technology firm has secured US$15 million in financing to fuel its global growth. The funding was led…
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Startups
Why Now Is a Good Time to Invest in Venture Capital in Africa
The African venture capital ecosystem has encountered significant headwinds in recent times. According to research firm Africa: The Big Deal,…
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Startups
Kenyan e-commerce startup Chpter raises $1.2 million
Chpter, a Kenyan AI-powered conversational commerce platform founded by Marketforce co-founders has secured $1.2 million in their Pre-Seed round. Founded…
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Startups
Kenya’s SUKHIBA secures $1.5M seed extension to expand WhatsApp-based e-commerce in emerging markets
SUKHIBA, a Kenyan commerce and CRM platform has completed a $1.55 million seed extension round led by EQ2 Ventures. Other…
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News
Will Tech VC Funding in Africa Rebound on Interest Rate Cuts?
VC firms and startups can look to imminent interest rate cuts to revive dealmaking but cuts alone may not bring…
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Startups
Solar startup d.light closes $176 million funding round
d.light, the African startup that offers solar power solutions for low-income households in East Africa has closed a new USD$176…
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Startups
Kenyan Skincare firm Uncover closes oversubscribed $1.4m funding round
Uncover, Africa’s emerging beauty brand has successfully closed a $1.4m Seed II funding round. The round was led by EQ2…
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Startups
Orca Fraud raises $550k to fight fraud in emerging markets
Orca, a South African startup that works with banks and fintechs in emerging markets to fight various types of fraud,…
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Startups
Ethiopian sustainable tech startup Kubik raises $5.2 million seed funding
Kubik, the African sustainable tech startup has raised $5.2 million seed funding round. The seed round makes it the first…
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Startups
South African fintech Float secures $11 million in funding
Float, the South African fintech which offers shoppers a smarter way to use their credit cards has secured $11 million…
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Startups
Nigerian fintech Zone raises $8.5m to scale its decentralized payment infrastructure
Zone, the Nigerian payment infrastructure company has raised $8.5 million in an oversubscribed seed funding round led by VC firms…
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Startups
Founders Factory Africa LIVE podcast details the importance of choosing the right capital in 2024
Founders Factory Africa recently hosted a live version of The African Pre-seed Podcast. The episode focused on the good and bad…
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News
South African climate-tech Hohm Energy secures $8m to scale adoption of rooftop solar
Amidst a growing energy crisis, South Africa finds itself in the grip of escalating power shortages, resorting to daily electricity…
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News
OX Delivers secures funding to roll-out affordable clean transport for Africa
OX Delivers, a UK-based emobility startup, has received a £1.2 million funding grant from Energy Catalyst as the company readies its next-generation affordable…
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News
Catalyst Fund Invests $1.8M in African Climate Startups
The Catalyst Fund today announced an investment of $1.8 million in 9 early-stage climate tech startups across Africa. This brings…
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News
Parcel shipping platform TUNL raises $1 million to accelerate growth of e-commerce exports from Africa
TUNL, a South African parcel shipping platform has secured $1 million in pre-seed funding from Founders Factory Africa, Digital Africa…
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News
South African logistics startup Tripplo raises $1.8m funding
South African logistics software platform Tripplo, has closed its seed funding extension round with a $1.8 million equity investment. The…
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News
Lipa Later closes $5M debt raise, targets to raise an additional $20M
Kenyan fintech Lipa Later on Wednesday announced a successful closure of a $5M (KES 500 million) privately placed Debt issuance. …
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News
Mobility fintech Moove secures $76M equity, debt from Mubadala and BlackRock
Moove, the African mobility fintech has secured $76 million in new funding, consisting of $28m in equity from new and…
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News
QED Investors lead $12 million investment in Nigeria’s healthtech startup Remedial Health
Across Africa, 85 percent of retail medicine purchases happen at micro-enterprises, typically neighbourhood pharmacies and) and Proprietary Patent Medicine Vendors…
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Startups
Zuri Health raises an undisclosed amount for funding from Five35 Ventures
Six months after raising an undisclosed amount of funding from Moroccan VC UM6P Ventures, Kenyan health-tech startup Zuri Health has…
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News
Risana Zitha: B2B payments set to be the next focus for VC’s in Africa
Africa’s $1.5 trillion B2B payments market is ripe for innovation and represents a golden opportunity for investors and entrepreneurs looking to…
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News
MYDAWA raises $20m funding from Alta Semper Capital, acquires Uganda’s pharmacy chain Guardian Health
MYDAWA, the Kenyan health-tech startup famous for its e-pharmacy platform has received a US $20 million capital injection from private…
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News
Kenyan mobility startup Stima secures 100k euro investment from develoPPP Ventures
Stima Mobility, the Kenyan startup providing green tech solutions for the moto-taxi sector (boda boda riders) has secured 100,000 euro in…
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News
Nigeria health-tech Helium Health raises $30m Series-B funding
Helium Health, the Lagos-based health tech firm Helium has raised $30 million in Series-B funding The funding round was led…
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News
Nigerian Based Startup Figorr Raises $1.5M in Seed Funding
Nigerian-based cold-chain startup Figorr has secured $1.5 million in seed funding and has since rebranded from Grcd to Figorr. Its…
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News
Egypt-based VC DisrupTech Raises $5 Million Investment From Proparco
Proparco, a subsidiary of the AFD Group focusing on private sector development, has announced an investment in an early-stage venture…
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News
M-KOPA raises $250M in debt, equity to scale its asset finance platform across Africa
Asset financing platform M-Kopa has raised $250m in new funding to expand its services across Sub-Saharan Africa. The funding includes…
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News
Nigeria’s PSP Nomba raises $30 million Pre-Series B
Nigerian payment service provider Nomba has raised a $30 million Pre-Series B funding round to support the delivery of bespoke…
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News
Nigerian counterfeit tracking startup Chekkit has raised undisclosed amount of funding
Nigerian startup Chekkit has secured an undisclosed amount of funding to help it scale its blockchain-powered drug safety and tracking…
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News
Tunisia’s gaming platform CoaChess raises $191k to revolutionalize chess gaming using AI
The gaming industry in Africa has been experiencing commendable growth, as more developers build innovative products that are gaining popularity.…
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News
SA agritech startup FarmTrace raises funding to scale its solutions
South African agri-tech startup FarmTrace has raised an undisclosed amount of funding from Secha Capital and Hassium Capital. The company…
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News
Kenyan agritech Victory Farms raises $35 million Series B funding
Victory Farms, a Kenya-based aquaculture startup operating around Lake Victoria has raised $35 million in Series B round. Previously the…
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News
DFC invests $25 million in Pan-African VC firm Novastar Ventures
The U.S International Development Finance Corporation (DFC) has invested $25 million in a new fund by Pan-African venture capital firm…
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News
[Nigeria] Mobility Startup Shuttlers Has Raised $4M for Expansion
Nigerian shared mobility startup Shuttlers has raised $4 million in a new funding round to facilitate expansion. The startup was…
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News
Fintech startup PayDay raises $3 million in seed funding
PayDay, the pan-African fintech startup has raised $3 million in seed funding. The round was led by Moniepoint Inc, with…
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News
African Market Intelligence Startup Rwazi Raises $4 Million Seed Funding
African market intelligence startup Rwazi has raised a $4 million seed funding round that was led by Bonfire Ventures and…
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News
Factor[e] Ventures launches new venture studio for African startups
Factor[e] Ventures has launched a new venture studio targeting tech startups in Africa. Known as Delta40, the studio aims to…
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News
[Nigeria] Fintech startup OnePipe raises $4.8m to reach more SMEs
Nigerian fintech startup, OnePipe, has secured $4.8 million in debt funding from TLG Capital to drive the company’s inventory finance…
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News
[South Africa] HealthTech startup Envisionit raises $1.65M to expand medical its imaging services
Envisionit Deep AI, a South African health-tech startup that uses AI to bridge the gap in diagnostic imaging, has raised $1.65m…
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News
SA car-ownership financing startup Planet42 raises $100 million to scale its business
South African Car Subscription Startup Planet42 has raised $100 million in combined equity and debt funding. Launched in 2017, Planet42…
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News
Kenyan HR payroll startup WorkPay raises $2.7M funding to scale across Africa
WorkPay, a Kenyan HR management startup launched in 2019 has raised $2.7M to scale its operations across Africa. The full-stack…
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News
Kenyan construction tech startup Jumba has raised $4.5M seed funding
Jumba, Kenya’s construction startup has raised $4.5M in a seed funding round. The startup facilitates retailers of construction materials to…
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News
South Africa’s AI-based insurtech startup Naked raises $17 million Series B round
There have been significant efforts to increase insurance uptake across Africa, where reports show a very low market penetration for…
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News
Kenyan fintech Power raises $3 million in seed funding
Power Financial Wellness, a Kenyan fintech startup that seeks to advance the financial well-being of its customers has secured a…
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News
Kenya’s BuuPass raises $1.3m to digitise transport ticketing in East Africa
BuuPass, a digital bus ticketing company founded in 2016, has raised $1.3m in pre-seed round to expand its transport solutions…
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News
Saudi Arabia-based HR tech platform, Palm.hr raises $5 million to expand across MENA
Palm.hr, a Saudi Arabian HR firm that automates payroll, tracks leaves and absences and monitors employee performance has secured $5…
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News
Egyptian fintech MNT-Halan is Africa’s newest Unicorn after raising $400M
Egyptian fintech startup MNT-Halan has become Africa’s newest unicorn after raising $400 million in debt and equity funding, raising its…
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News
Nigerian fintech startup Trade Lenda has raised $520k in pre-seed round
Trade Lenda, a Nigerian fintech startup that helps micro, small, and informal retailers with access to financing for their business…
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News
South African digital lender Lulalend has bagged $35M Series B funding
Lulalend, a South African digital lender offering funding options for businesses has raised $35M in Series B funding. The round…
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Startups
Kenya’s Zuri Health raises an undisclosed amount of funding from Moroccan VC UM6P Ventures
Zuri Health has raised an undisclosed amount of funding from Moroccan VC UM6P Ventures. The funds will be used to…
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Startups
11 Startups Selected to Join Cohort 3 of ASIP Accelerator Program
Eleven African startups have been selected to join the third cohort of the Africa Startup Initiative Program (ASIP). The accelerator…
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News
South Africa’s digital enabler Flow has raised $4.5 million to facilitate strategy growth
Flow, a South African company that helps businesses to gain online presence and leverage on digitization has raised $4.5 million…
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News
South Africa’s gaming firm Carry1st raises $27M
The gaming market in Africa continues to grow as more creators, gamers and other stakeholders make significant investments in the…
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News
Two Kenyan firms among 10 African startups selected for $2m Catalyst Fund
Pre-seed venture capital (VC) fund and accelerator Catalyst Fund has announced a US$2 million investment into 10 startups building solutions…
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Startups
Women-led startups in Africa raised $203.2M in 2022
There has been a significant focus on funding for African-led startups across the globe. Across the continent, several venture capital…
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News
Solar energy provider Sun King Raises $70M investment to expand throughout Africa and Asia
Pan-African producer of solar energy Sun King has raised $70 million equity investment from LeapFrog Investments and other investors. Sun…
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News
Nigeria’s online furniture store Taeillo raises $2.5 million for expansion
Nigerian online store Taeillo has announced a $2.5 million funding round from Aruwa Capital, a growth equity and early-stage investor.…
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News
Africa’s Mobility Financing Startup Moove Raises $30 Million
African mobility fintech startup Moove has raised $30 million just a few months after raising $18.4 million to scale its…
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News
Kenyan Edtech company Zeraki Raises $1.8 Million in Seed Funding
Kenyan Edtech company Zeraki has raised a $1.8 million seed funding round to enable product catalog growth and regional expansion.…
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News
Egyptian supply chain solutions provider OneOrder has raised $3 million
Egyptian supply chain solutions company OneOrder has raised $3 million in seed round funding led by Nclude, with participation from…
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News
Kenyan Smartphone Reseller Badili Has Raised $2.1 Million in Pre-Seed Funding
Badili Africa, a company that allows customers to trade in their old phones for new ones at friendly prices has…
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News
Nigerian food-tech Orda raises $3.4 million seed round to digitize African restaurants
Nigerian food-tech platform Orda announced has raised a $3.4 million seed round to further digitize food businesses across the continent.…
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News
Kenyan Supply Chain and Logistics Startup Leta Secures $3M Funding
Kenyan supply chain and logistics startup Leta has secured a $3M pre-seed equity round led by 4Di Capital, Chandaria Capital,…
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Startups
Tanzanian supply chain solutions startup Ramani has raised $32M in equity and debt
Tanzanian supply chain solutions provider Ramani has raised $32M in debt and equity in a Series A round that was…
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News
Pan-African solar company Solarise Africa raises $33.4M
Solarise Africa, a pan-African Energy-as-a-Service company that provides reliable and affordable energy solutions across Africa has raised $33.4M to expand…
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Startups
Kenyan fintech Hisa among 9 African startups selected for the second batch of €7.5 million Startup Wise Guys fund
Kenyan fintech Hisa is among the nine African startups selected for the €7.5 million Startup Wise Guys fund. Selected…
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News
Quona Capital to invest $332M in fintech startups from emerging markets focusing on financial inclusion
Emerging markets venture capital firm Quona Capital today announced the final close of $332 million for its Fund III, significantly exceeding…
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News
500 Global Launches its Pan-African Accelerator Manager Bootcamp in Kenya
500 Global, a leading venture capital firm is launching its inaugural Bootcamp for Accelerator Managers (BAM) program in Kenya. The…
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Startups
AI Content Creation Tool Jasper Has Raised $125M in a Series-A funding
Jasper, a fast-growing AI creation tool based in Austin, Texas has raised $125 million in series-A funding round, making it…
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Startups
Auto Financing startup Moove raises £15 million financing to scale UK operations
Moove, a mobility fintech startup providing auto financing for gig economy drivers has raised £15 million in financing to scale…
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News
Nigerian data and intelligence firm Stears has raised $3.3 Million for expansion to East Africa
Nigerian data firm Stears has raised $3.3 million in a seed round in which Serena William’s VC firm Serena Ventures…
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Startups
Kenya’s home furniture startup MoKo has raised $6M to accelerate growth
MoKo has been around since 2014, a period in which the company has undergone a considerable metamorphosis. It was first…
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News
African tech startups have so far raised $2.7bn in funding this year, report
A report by pan-African tech publication Disrupt Africa has revealed that African tech startups raised $2.7bn in funding in the…
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Startups
Nigeria’s heath-tech startup Lifestores Healthcare has raised $3M
Nigerian health-tech startup Lifestores Healthcare has raised $3M for expansion across the country in a pre-Series A funding round. The…
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News
Ugandan Digital Lender Numida Has Raised $12.3 Million in Pre-Series A Round
Ugandan fintech startup Numida has been in operation since 2017. The company has found its footing, offering customers loans ranging…
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News
Popular E-commerce Startup Sky.Garden Faces Closure After Failing To Raise Funding
Word in the streets has it that one of Kenya’s most popular e-commerce marketplace Sky.Garden may be closing down after…
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News
Biometrics tech firm iiDENTIFii raises $15 million growth capital
Biometrics tech firm iiDENTIFii has raised US$15 million growth capital, the largest African Series A in the identity verification space…
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Startups
Nigeria’s restaurant management startup Vendease has raised $30 million to scale its food supply business
Nigerian startup Vendease which makes it easy for restaurants to access food supplies has raised $30 million in Series-A funding.…
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News
Ghana’s Agritech Startup Farmerline has Raised $1.5 Million in Series A Funding
After netting $13 million in April this year, Ghanaian agritech startup Farmerline has raised another $1.5 million in pre-series A…
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Startups
Nigeria’s health-tech startup Remedial Health raises $4.4 million in seed funding
Remedial Health, a Nigerian healthtech startup has raised $4.4 million in seed funding to accelerate its expansion across the country.…
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Startups
Kenyan insurtech startup Turaco raises $10M Series A funding
Kenyan insurtech firm Turaco has closed a $10 million Series A equity round led by AfricInvest, via the Cathay Africinvest…
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News
Nigerian fintech Kippa has raised $8.4 million seed round
Nigerian fintech startup Kippa has raised $8.4 million in an oversubscribed seed round. This round of funding was led by…
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News
African startups raised $5 billion last year, just a tip of the global average
Across the African continent, 2021 was a good year for startups as funding hit a record high at about $5…
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News
Nigeria’s blockchain startup Bitmama has raised $2 million to scale across Africa
Bitmama is a Nigerian blockchain company that aims to democratize the payment system across the continent. The startup has remote…
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Startups
Nigerian fintech startup NowNow raises $13 million for expansion across Africa
Nigerian fintech startup NowNow Digital Systems has raised $13M seed round for expansion across Africa. The company was founded in…
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Startups
Kenya’s Fintech Pezesha Has Raised $11 Million to Expand Across Africa
Pezesha, a Kenyan fintech that has built a platform where small and medium enterprises can access funding has raised $11…
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Startups
Nigerian fintech Grey raises $2M to simplify cross-border payments across Africa
Grey, a fintech started by two Nigerians to simplify sending and receiving foreign payments for Africans, has raised $2 million…
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Startups
Kenyan startups raised $820 million in VC funding in the first half of 2022
Kenya has secured an enviable position among the most competitive innovation and investment destinations in Africa. The country’s attractiveness has…
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News
Nigeria’s B2B e-commerce startup Omnibiz has raised $15 million to accelerate expansion
There is a growing number of startups across Africa that are helping to connect manufacturers with wholesalers and retailers. Nigeria’s…
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Startups
Koolboks Closes $2.5M Seed Round to Scale Solar Refrigeration Across Africa
Koolboks, the sustainable cooling company providing accessible cold storage solutions to businesses across Africa, has closed a $2.5M Seed funding…
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