VNV Global, a Swedish investment firm that backs startups in mobility, health and marketplaces, slashed the value of its holding in Wasoko, an African B2B e-commerce startup, by 48%, according to its
Moove, an African mobility fintech that offers vehicle financing to ride-hailing and delivery app drivers, has raised $100 million in a funding round as it plots expansion into new markets. Moove did
African financial institutions typically scale their solutions using a mix of local and foreign tech. Appzone is one of the standout local fintech software providers for banks and fintechs, providing
Save for fintech and clean tech, B2B e-commerce and retail was the leading destination for venture capital dollars over the last five years. The premise of digitizing the continent’s mom-and-pop con
Youverify, a Nigerian provider of identity verification and anti-money laundering (AML) solutions for banks and startups, secured a $2.5 million investment from Elm, which specializes in offering read
Nigeria is actively seeking information from Binance regarding its top 100 users in the country and all transaction history spanning the past six months, according to a Financial Times report. This ne
MDaaS Global, a Nigerian health tech company that operates a network of tech-enabled diagnostic centers across the country, has secured $3 million in pre-Series A funding. The round was led by Aruwa C
Binance will discontinue its naira (NGN) services in response to heightened regulatory scrutiny in Nigeria, it said in a blog post today. The cryptocurrency exchange will begin delisting any existing
As remote work becomes increasingly prevalent, organizations globally are adapting, especially regarding onboarding procedures for new employees and navigating cross-border payment complexities. This
HR startup Deel said it is acquiring Africa's PaySpace in a deal that marks its largest acquisition to date.
Qatar unveiled its startup investment program at the recent Web Summit through its development bank. The program aims to attract seed and growth-stage tech companies seeking to establish or expand ope
The payment landscape in the Middle East and Africa (MEA) region is marked by significant fragmentation, with numerous payment providers and methods in each country, evolving regulations and diverse c
Dubai-based early-stage venture capital firm COTU Ventures is announcing that it has raised $54 million for its inaugural fund to support startups in the Middle East from pre-seed to seed stages. With
The Qatar Investment Authority (QIA) is launching a $1 billion venture capital fund of funds for international and regional venture capital funds, the sovereign wealth fund announced on Monday at the
Some cryptocurrency exchanges in Nigeria faced accessibility issues for users, prompting speculation of imposed restrictions on crypto sites, the Financial Times reported. On Wednesday, local media re
In the face of South Africa’s worsening energy crisis, marked by increasingly severe power shortages, implementing daily electricity rationing has become imperative to avert the risk of a nationwide
FairMoney, a digital bank based in Lagos and headquartered in Paris, is in discussions to acquire Umba, a credit-led digital bank providing payroll and financial services to customers in Nigeria and K
In 2023, Jumia revised its adjusted EBITDA loss guidance thrice: $100 million to $120 million in Q1; $90 million to $100 million in Q2; and $80 million to $90 million in Q3, aiming for a 57% to 61% ye
Arnergy, a Nigerian clean tech startup that deals in distributed renewable energy products and solutions, has raised $3 million in new financing. The bridge round was financed by All On, a Shell-backe
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