africa

Inside Iyin Aboyeji’s plan to build charter cities for African tech

African cities, particularly sub-Saharan ones, have the fastest global urban growth rate. But with challenges around overcrowding, congestion, infrastructure, power and poor governance, these cities a

Tanzanian fintech NALA raises $10M seed to build Revolut for Africa

NALA, a Tanzanian cross-border payments company that recently pivoted from local to international money transfers, said Thursday it has raised $10 million in a new fundraising round. The seed round is

TLcom Capital targets $150M for its second fund to invest in 20 African startups

TLcom Capital, the Africa-focused venture capital firm known to have made bets on Andela and Twiga, is raising $150 million for its second fund targeted at making early- and late-stage investments. Th

Clean energy firm Husk signs UN energy compact as it begins solar mini-grid expansion in Nigeria, rest of Africa

Husk Power Systems, a clean energy company that has been at the forefront of fueling rural electrification since 2008, is planning to launch 500 solar mini-grids in Nigeria over the next five years. T

Ghana’s OZÉ gets $3M to scale its digital recordkeeping and embedded finance products

OZÉ, a Ghanaian fintech startup that provides digital recordkeeping tools with embedded finance products to medium and small businesses, has raised a $3 million pre-Series A round. The startup’s ne

Tunisian enterprise AI startup InstaDeep raises $100M from AI Capital, BioNTech, Google

A recent survey carried out by CNBC reported that 81% of executives worldwide say AI will play a prominent and critical role in how their businesses operate this year. Companies are phasing from the f

Daily Crunch: IBM sells off Watson Health unit to private equity firm Francisco Partners

I normally try to bring some pep to my little intros in this missive. But today I am going to avoid astruturning my own mood to simply say, hey, what's up with the stock market?

Paris-based VC firm Partech unveils Chapter54 accelerator to help European startups cross into Africa

Partech Shaker, the innovation division of the Paris-based VC firm Partech, has launched an accelerator program christened Chapter54 to help European startups launch in African markets. The accelerato

Morocco’s Chari valued at $100M in bridge round as it looks to pilot BNPL services

Moroccan B2B e-commerce and retail startup Chari confirmed to TechCrunch that it has secured a bridge round at a $100 million valuation. The bridge round welcomed new investors Khwarizmi Ventures, Air

a16z, Avenir and Google back South African mobile games publisher Carry1st in $20M round

Carry1st, a South African publisher of social games and interactive content across Africa, has raised a $20 million Series A extension led by Andreessen Horowitz (a16z). This is a16z’s first investm

First EV mass transit bus by Swedish-Kenyan startup Opibus begins operation amidst plans for regional launch by 2023

The first electric bus by Swedish-Kenyan EV startup Opibus has hit Kenya’s roads, marking the beginning of the company’s venture into the mass transit industry. Opibus first announced plans to

Senegalese logistics and delivery company PAPS raises $4.5M led by 4DX Ventures and Orange

Multinationals like Amazon and Alibaba have leveraged logistics infrastructure such as UPS and FedEx to create large businesses. It’s not the same in Africa, where few third-party infrastructure pla

QED Investors hires Gbenga Ajayi as partner to focus on investments in Africa

In a move rarely made by Western venture capitalists, QED Investors announced today that it has hired an African partner, Gbenga Ajayi. He will focus on Africa investments as part of QED’s internati

Kenyan e-commerce company Copia Global raises $50M to ramp up African expansion

Kenyan B2C e-commerce company Copia Global has raised $50 million in a Series C equity round led by Goodwell Investments. The new financing round welcomed new investors such as Zebu Investment Partner

Kenyan fintech Zanifu nabs $1M to bridge MSME financing gap, eyes Ghana, Uganda expansion

Kenyan fintech Zanifu is set to upgrade its platform and grow the number of micro, small and medium enterprises (MSMEs) it extends stock financing to after securing $1 million in seed funding. Saviu V

Kenyan low-cost ISP Poa Internet secures $28 million in round led by AfDB-backed Africa50, plans to link region with cheap, limit-free connectivity

In 2020, Africa50, an infrastructure financier backed by the Africa Development Bank (AfDB) Group and a good number of African governments, hosted an innovation challenge that sought affordable and re

Finclusion raises $20M to build out credit-led neobank offering across Africa

The digital banking space in Africa is taking shape as neobanks on the continent grow in numbers like their global counterparts. Venture capital bets from institutional investors in this class of fint

Nigerian restaurant management platform Orda gets $1.1M, wants to be the Toast of Africa

Cloud-based point of sales for small, medium and large-sized restaurants has increased tremendously in both size and popularity. The market, dominated by incumbents like Toast and upcoming players suc

Ghanaian fintech Float raises $17M seed to power cash flow for commerce in Africa

Cash flow is a major pain point for small businesses in Africa. Long payment cycles, which can take 30-90 days after services or products have been rendered, and little or no capital, of which researc

Ugandan fintech Asaak raises $30million to support acquisition of motorbikes, smartphones by taxi operators

Asaak, a Ugandan asset financing startup, has secured $30 million in pre-Series A equity and debt funding. The round saw the participation of new and existing investors including Resolute Ventures, So
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