africa

Nigerian proptech Spleet gets $2.6M led by MaC VC to scale its property management products

For the average individual living in Lagos — Nigeria’s most populous city, with over 20 million people — apartment hunting is an extreme sport. Not only is rent expensive — low- to

Egyptian venture capital firm Algebra Ventures hits first close of second fund at $100M

Last April, Egyptian and MENA-focused venture capital firm Algebra Ventures announced the launch of its $90 million second fund. It was the sequel to its first: a $54 million fund invested in 21 start

South African startup Talk360’s seed funding hits $7M after new backing

Months after the initial close of its seed round, Talk360, a South African Voice over Internet Protocol (VoIP) startup, has raised an additional $3 million, bringing the total investment raised in the

Ghanaian agtech Farmerline raises $1.5M from Dutch investor Oikocredit

Ghanaian agtech Farmerline has secured $1.5 million equity funding from Dutch impact investor Oikocredit in its second close of the pre-Series A round. The new funding brings the total amount raised i

Vendease, a food procurement platform for African restaurants, nabs $30M led by Partech Africa and TLcom

When Vendease launched in January 2020, it wanted to solve the challenges and inefficiencies in Nigeria’s highly fragmented food sector using a marketplace model that connected suppliers and farms t

Ghanaian fintech SecondSTAX allows investors to access capital markets outside their countries, raises $1.6M

African capital markets exist in silos, as various exchanges within the continent are often inaccessible to investors outside their home countries. For instance, a South African investor who wants to

Ivorian fintech Julaya gets $5M to become banking partner for businesses in Francophone Africa

Ivorian payments-led fintech startup Julaya has extended its pre-Series A round by $5 million. The company, which facilitates B2B payments for businesses in Francophone West Africa, mainly via mobile

Nigeria’s YC-backed Remedial Health raises $4.4M seed funding

Early this year, Nigerian health tech startup Remedial Health announced plans to scale within the West African country, digitizing pharmacies and bringing efficiency in the pharmaceutical supply chain

Kenya’s insurtech Turaco maintains 1 billion user target as it raises $10M funding

Insurance penetration in Africa is currently below 3% largely attributable to the slow adoption of innovation in the sector. Many underwriters rely on traditional systems involving agents and lots of

MVP Match, a tech-talent marketplace, raises $5M from Stage 2 Capital

Tech-talent marketplace MVP Match has raised €5 million ($5 million) seed funding from Stage 2 Capital to double down its strategy for pairing companies with talent from across the globe. The German

What has KOBO360 been up to in the last 2 years?

Before fintechs became the standouts of the African tech ecosystem, it was startups in the online logistics and transport space in Africa linking on-demand apps to move people and goods around the con

Nigerian financial management app for merchants Kippa bags $8.4M in new funding

Kippa, the Nigerian startup improving the lifecycle of small businesses across the country with its financial management and payments platform, has raised $8.4 million in an oversubscribed seed round.

Kenya’s HotelOnline acquires hospitality software company HotelPlus

HotelOnline, a Kenya-based Yanolja-backed travel technology scale-up that fashions itself as an e-commerce and digital marketing enabler in the hospitality industry, has acquired HotelPlus, a software

Pan-African ‘gender equal investor’ Janngo Capital hits first close of €60M fund

After stints at Jumia as its former managing director at its Nigerian office and founding CEO of its Ivorian office, Fatoumata Bâ, a veteran of the African tech space, announced that her firm Janngo

Founders of well-funded Egyptian B2B startup Capiter fired following fraud allegations

Last September, Egyptian startup Capiter raised $33 million in Series A funding to compete in the country’s growing B2B e-commerce and retail space. Fast-forward a year later, the startup has laid o

Nigerian blockchain payments startup Bitmama closes $2M pre-seed as it scales to new markets

Africa is the world’s third fastest-growing crypto market, with crypto adoption increasing by more than 1,200% over the last two years. Countries such as Nigeria, Kenya and South Africa are majorly

YC’s latest batch cuts African startup presence by more than half

Last month, Y Combinator said that it had intentionally reduced its summer cohort by 40%. According to the accelerator, the decision to downsize the S22 batch — significantly smaller than its most r

Where is Y Combinator startup-hunting in 2022?

YC's smaller cohort had us curious about the second-order effects of admitting fewer companies: What would a smaller batch do to the geographic makeup of the companies at the accelerator?

Online university Nexford will use $8M to plug affordability and relevance gaps in education

U.S.-based online university platform Nexford University has raised $8 million in a Series A round co-led by New Markets Venture Partners and Learn Capital, two prominent edtech venture capital firms

Uber wants court to nullify Kenya’s new ride-hailing law that caps service fee at 18%

Uber has appealed to Kenya’s apex court to annul the new digital taxi-hailing regulations claiming that some aspects are unconstitutional, discriminatory, discouraging to foreign investments and inf
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