africa

Metaverse Magna raises $3.2M at a $30M valuation to build Africa’s largest gaming DAO

This February, Africa and emerging market-focused Nestcoin raised a pre-seed round to build, operate and invest in its web3 applications, including crypto content platform Breach Club and gaming guild

We Reali don’t know when real estate will get Better

Hello and welcome back to Equity, a podcast about the business of startups, where we unpack the numbers and nuance behind the headlines. This was a Live Week, meaning that Alex, Natasha and Mary A

Nigerian digital bank Kuda is the latest African startup to lay off employees

Kuda, the challenger bank based in Nigeria and the U.K., has joined the ranks of tech companies in Africa that are pruning their workforce. The news of the layoffs, which was first disclosed to TechCr

Jumia, Zipline launch drone package delivery in Ghana

Jumia, the pan-African e-commerce company, has partnered with Zipline to launch on-demand drone delivery in Ghana, with plans to expand the service to Nigeria and Côte d’Ivoire in the near future.

Duplo digitizes payment flows for African B2B enterprises, gets $4.3M seed funding

The process of sending and receiving payments in a $1.5 trillion B2B payments market in sub-Saharan Africa is one where merchants commonly use manual invoices and inefficient processes that burden mer

Kenyan fintech Pezesha raises $11M backed by Women’s World Banking, Cardano parent IOG

Access to finance remains a key growth constraint for small businesses, with data showing a $330 billion financing deficit for the small enterprises that make up 90% of Africa’s businesses. This is

New rules for digital lenders in Kenya aim to weed out bad actors while bolstering sector growth

Digital lenders in Kenya will be under the watch of the Central Bank of Kenya under the new Digital Credit Providers regulations.

African genomics startup 54gene lays off 95 as COVID testing business struggles

African genomics startup 54gene has laid off 95 employees, or about 30% of its LinkedIn-sourced 290+ employees. A company’s spokesperson confirmed the news after several sources informed TechCru

Nigeria’s Grey raises $2M for cross-border payments play and regional expansion

The provision of virtual foreign bank accounts has become a common strategy for fintechs to enable Nigerians and Africans to facilitate international transfers. In the latest development, Grey, a fint

Nigerian YC-backed startup Anchor comes out of stealth with $1M+ to scale its banking-as-a-service platform

In 2015, the emergence of fintechs such as Flutterwave and Paystack changed the game for online businesses in Africa by making it easier to integrate payments into customer interfaces without building

Egypt’s SubsBase raises $2.4M for its subscription and recurring revenue management platform

The presence of various payment forms and providers is one reason why businesses in the Middle East/North Africa (MENA) region have operational challenges in managing revenue and collection. These bus

Google Wallet enters South Africa to tap digital payments growth

Google Wallet is now available in South Africa, the first market for this product in Africa, to make it easy for users to save and easily and securely access their payment cards, loyalty cards and boa

YC-backed Zywa, a neobank for Gen Z, raises $3M to expand across MENA

Dubai-based Zywa, a neobank for Gen Z, plans to fuel its growth in the United Arabs Emirates (UAE), and to kick-start its expansion to Saudi Arabia and Egypt after raising $3 million seed funding at o

Microtraction hits $15M first close on its second fund for pre-seed investment in African startups

Microtraction, an early-stage venture capital firm that invests in African startups at the pre-seed stage, is announcing that it has reached the first close of its second fund, Microtraction Community

Nigerian B2B e-commerce platform Omnibiz raises millions to gain and retain retail customers

Africa’s informal retailers supply most of the continent’s population with a broad range of consumer goods and generate over $1 trillion in sales annually. However, troubles with outward inefficie

Paris-based Koolboks closes $2.5M seed round to scale solar refrigeration across Africa

The power grid supply in Africa is erratic and inconsistent, affecting rural and urban households and businesses. For restaurants or neighborhood stores dealing with perishables, frozen foods and beve

Kenyan agtech iProcure raises $10.2M to grow its input supply network

The shortage of agricultural inputs like fertilizer, unpredictable prices and the proliferation of substandard products into markets are some of the biggest challenges for Kenya’s agricultural secto

Web3 giant Parity Technologies teams up with Watr over platform to track ethical commodities

As the U.S. and Europe bake in abnormal summer heat, the climate continues to climb up the world’s agenda. With everyone now talking about energy, how commodities are traded is also becoming a talki

Ex-Novastar partner Niraj Varia takes on new challenge as CEO of Kenyan agtech iProcure

Niraj Varia spent the last eight years at Novastar Ventures, a global VC with hubs in Nairobi, Lagos and London, having joined it at inception and rising through the ranks to become partner. Under his

Google’s third bet from its Africa Investment Fund is in logistics company Lori Systems

Lori Systems, an African on-demand logistics and trucking company digitizing haulage and providing shippers with solutions to manage their cargo and transporters, has raised a pre-Series B round in wh
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