VC Funding
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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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Startups
Kenyan agtech IProcure secures $10.2M to expand into Uganda and Tanzania.
Kenyan tech and data-driven agricultural inputs supply startup iProcure has raised a $10.2 million Series B funding round to support…
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Startups
Kenyan insurtech Lami Technologies raises $3.7M to expand across Africa
Kenya-based insurtech startup Lami Technologies has raised a US$ 3.7m seed extension to expand its insurtech product across Africa. The…
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Startups
Egyptian fashion e-commerce startup The Fashion Kingdom has raised $2.6 Million in seed funding
Egyptian Fashion and accessories startup The Fashion Kingdom (TFK) has raised $2.6 in seed funding round. The company was founded…
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Startups
Seedstars announces $30 million fund to invest in 100 startups in emerging markets
Seedstars has announced plans to invest in 100 more startups through its second emerging market seed-stage fund, called Seedstars International…
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News
PATRICK NDEGWA: Is 2022 the year for African startups?
Africa is the place to be if you want to discover and support new ideas. According to a Substack newsletter…
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News
Kenyan logistics startup Duhqa has raised $2m seed funding for regional expansion
Kenyan B2B logistics startup Duhqa has raised $2 million in seed funding to accelerate its expansion plan. Duhqa was founded…
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News
Kenyan edutainment startup Kakua has raised $6M in Series A funding
Kakua, an edutainment startup based in Kenya has raised $6M Series A funding. The funding was led by China’s Tencent…
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Startups
Nigeria’s Healthtracka Raises $1.5 million, Plans Entry to Kenya and Ghana
The convenience of getting health solutions from the comfort of your home is possibly one of the greatest achievements of…
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News
Moringa School raises an undisclosed amount of funding from Leading Investor Proparco
Learning-accelerator Moringa School has raised an undisclosed amount of funding from Proparco to support its expansion outside Kenya. The funding…
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News
Nigerian fintech firm VeendHQ secures $330k pre-seed investment
Nigerian fintech firm VeendHQ has secured $330k pre-seed funding to expand its operations. Magic Fund, The Oak Capital, Future Africa, Berrywood…
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Startups
Kenyan construction logistics startup Jumba raises $1m pre-seed round
Jumba, a Kenyan construction supply chain startup that was launched in April this year has raised $1m in pre-seed funding.…
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News
Kenyan insurtech firm mTek secures $3 million funding
On the heels of a recent $1.50 million (KSh 170 million) investment, Kenyan insurtech startup mTek has secured an additional …
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News
Nigerian fintech startup Indicina raises $3m seed funding for Africa expansion
Nigerian fintech startup Indicina has raised $3 million in seed funding round to accelerate its expansion into other African markets.…
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Startups
Tunisian edtech startup GOMYCODE raises $8 Million Series A funding to expand across Africa
A Tunisian edtech startup GOMYCODE has raised one of the highest African funding this quarter of the year after clinching…
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News
Cairo Angels Injected Undisclosed Amount in Kenya’s FlexPay
Fintech startup FlexPay has raised an undisclosed amount of funding from Cairo Angels Syndicate Fund(CASF). The Kenyan firm operates an…
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News
Healthtech startup Zuri Health raises $1.3-million to expand across Africa
Kenyan healthtech startup Zuri Health has raised $1.3-million in funding to expand across Africa. The startup which offers mobile-based healthcare…
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News
Kenyan fintech Bamba raises $3.2m seed funding to scale
Kenyan fintech startup Bamba has secured $3.2m in seed funding to scale its app and build out its team. Venture capital…
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Startups
Nigeria’s Freight Forwarder Topship Raises $2.5M Seed Funding
Since tech-based startups started playing a key role by bridging gaps in the logistics sector in Africa, we’ve witnessed tremendous…
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Startups
Kenyan B2B e-commerce startup TopUP Mama Has Raised $1.7 million Seed Funding
TopUp Mama a Kenyan startup that makes it easy for eateries to access supplies, banking services and management tools has…
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Startups
African Startups Raised $2billion in 2021, Report
The African Tech Startups Funding Report (2021) demonstrates a continued interest by investors in promising African startups. According to the…
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Startups
Egyptian Fintech Paymob raises $50M in Series B funding
The continued attention on African fintech startups is attracting unprecedented attention and investments from high-ranking venture capitalists. The latest such…
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Startups
Nigerian Trade Tech Firm Norebase Raises $1M in Pre-Seed Round
Norebase, a Nigeria-based trade technology firm announced on Wednesday that it has secured $1M pre-seed funding round. The funding round…
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Startups
Nigeria’s OnePort 365 secures $5 million Seed Funding to Digitize Freight Management in Africa
Nigeria’s digital freight forwarding company OnePort 365 has raised $5 million in seed funding to drive the end-to-end digitisation of…
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Startups
Solar energy provider Sun King raises $260 million in latest funding round
Sun King, a solar energy company that helps power off-grid homes in Africa and Asia has raised $260 million in…
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Startups
Egyptian e-sport startup Eksab raises $3M to scale its fantasy football platform
Cairo-headquartered e-sport startup Eksab has raised $3M Seed funding round, bringing the company’s total investment to date to $3.7M. The…
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Startups
Nigerian logistics startup Kwik raises $2 million Series A Round to digitize informal African trade
Nigerian logistics startup Kwik has closed its $2 million Series A round led by XBTO Ventures, an investor focused on…
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Startups
Nigeria’s agri-tech startup ThriveAgric raises $56.4m debt funding to accelerate African expansion
Nigeria’s agri-tech startup ThriveAgric has raised $56.4M in debt funding from local commercial banks and institutional investors to grow its…
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Startups
Kenyan e-commerce startup Sokowatch raises $125M, rebrands to Wasoko
Kenyan based B2B e-commerce startup Sokowatch has raised a $125 million Series B equity round, the largest venture financing round ever…
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Startups
Vehicle financing startup Moove secures $105 million for expansion
African fintech mobility startup Moove has raised $105 million in new Series A2 financing. This comes just seven months after…
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Startups
Dream VC opens applications for its VC Fellowship Program in Africa
Dream VC, a Remote Venture Capital Upskilling Institute, has opened applications for its 2022 fellowship program for VCs in Africa.…
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Startups
Kenyan startup MarketForce raises $40M to scale its merchant inventory financing program
Kenyan-based B2B platform for retail distribution of consumer goods and digital financial services in Africa Today, MarketForce has raised $40…
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Startups
Remedial Health raises $1 million pre-seed funding to digitize African pharmacies
Healthtech startup Remedial Health has raised $1 million in pre-seed funding to digitize neighbourhood pharmacies across Africa starting with Nigeria.…
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News
Logistics startup Truck It raises $13 million seed round, largest in MENAP trucking space
Pakistan’s logistics tech startup Truck It In has closed a $13 million seed round jointly led by venture capital firms…
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Startups
Insurtech startup Casava secures $4m pre-seed funding to provide affordable insurance for millions of Nigerians
Nigeria’s digital insurance company Casava has secured US$4 million in pre-seed funding to provide affordable and accessible insurance products for…
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Startups
Ivorian e-commerce startup Afrikrea raises $6.2M in pre-Series A, rebrands to “ANKA”
Afrikrea, an Ivorian e-commerce startup has raised $6.2M pre-Series A round led by Investisseurs & Partenaires. The startup has also…
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News
[This Week in Tech] Telkom Kenya signs a $100M deal to scale its 4G network and other top stories
Kenya’s 4G subscriptions market share will more than double from 24.2% in 2021 to 53.6% by 2025. Local telcos have…
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News
SoftBank Leads a $200M Investment Round in Andela
Andela, the global network for remote engineering talent, has announced $200 million in Series E financing. The financing round which…
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News
Nigeria’s healthtech startup 54gene secures $25 million in a Series B round
Nigeria’s healthtech startup 54gene, has raised $25M in a Series B round funding to expand its capabilities to contribute to…
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News
Pangea Trust opens applications for its Startup Connect Programme
Pangea Trust has opened applications for its Startup Connect Programme. The programme was launched yesterday at an online event moderated by security…
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News
Kenyan startup MarketForce raises $2m pre-Series A to scale its B2B retail marketplace, RejaReja
MarketForce, the Kenyan-based B2B platform for retail distribution of consumer goods and digital financial services in Africa has raised a…
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News
South African tech startup LetMeIn.to raises R2.2-million to scale its visitor and access management platform.
South African tech startup LetMeIn.to has raised R2.2 million in funding from an undisclosed impact investor to scale up and expand…
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News
MEST Africa is investing a combined $700k in seven startups from its 2020 graduating cohort
Pan-African incubator, MEST Africa will invest a combined $700,000 in seven early-stage startups from its 2020 graduating cohort. The selected…
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News
Bolt raises Ksh.11 Billion in funding from Naya Capital to Boost its Growth Strategy
Bolt (Formerly Taxify) has raised a Ksh. 11 billion investment round bringing its total capital raised to date to more…
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Startups
Egyptian E-health startup Vezeeta raises $40m Series D funding round led Gulf Capital
Egyptian e-health startup Vezeeta has raised a US$40 million Series D funding led by UAE-based Gulf Capital, alongside further investment…
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Startups
Egyptian food delivery startup Elmenus raises $8m series B funding
Egyptian food delivery startup elmenus has raised $8 million Series B funding round. The round was co-led by Global Ventures,…
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