NALA Raises US$ 40mn in Series A Funding
Tanzania-based fintech, NALA, has raised about US$ 40 million in its Series A round as the remittances platform seeks to establish a new B2B product. This $40 million funding round [...]
Kenyan Startups Lead in H1 Raise, Overall Funding Declines by 31%
A report from Africa: The Big Deal' has indicated that African startups raised US$ 780 million in H1 2024, a slump of 31% compared to H2 2023 signalling the [...]Two Rivers SEZ, ONESPACE Launch Initiative to Upscale Tech Companies
Many tech companies in Africa experience difficulties in expanding from their homegrown markets due to poor capacity building and diminished capital sources. This Accelerator is vital for growth. What excites [...]Paris-Based VC Breega Launches US$ 75Mn Fund for African Investment
Early-stage startups in Africa are set to benefit from investments worth US$ 75 million from Paris-based VC Breega, which aims to make 40 investments from the fund. Reflecting on my [...]Nigeria's ThriveAgric Plans Kenyan Expansion with Visa's Support
Global payment platform, Visa, will throw its weight behind Nigerian startup ThriveAgric' as it reveals plans to set up farmer-support hubs in five counties across Kenya. Smallholder farmers are essential [...]Victory for Wasoko as Court Suspends February Verdict on Nine Ex-Employees
Kenyan B2B e-commerce startup, Wasoko, will no longer be compelled to retain nine ex-employees in its payroll after a court decision revoked the decision made in February this year. Before [...]African Startups Raise US$ 187 Million in May
The month of May saw a 40% increase in startup funding across Africa compared to April this year, according to the latest figures from Africa: The Big Deal. Since the [...]SKIIVE's €1.5Mn Project Outlines Achievements in Kenya's Startup Ecosystem
Grants awarded by the Strengthening Kenya Intermediaries and Innovation Ecosystem (SKIIVE) to six digital solutions in the country enabled them to upscale operations. The success of the SKIIVE Project underscores [...]Copia Halts Operations in 6 Towns after Going into Administration
Barely two weeks after going under administration, e-commerce platform, Copia has reportedly stopped its delivery service in six towns as the company continues its restructuring attempts. We regret that we [...]Agri-Data Platform, Gro Intelligence Shuts Down
Agri-data platform, Gro Intelligence, has reportedly shut down after months of capital shortage, leadership changes, and a controversial restructuring at the beginning of the year. The company received US$ 85 [...]Copia Kenya to Retrench More than 1,000 Employees
A memo dated 16th May from e-commerce platform Copia Kenya to all its staff members has revealed that the company is about to restructure its operations by laying off staff [...]Flutterwave Denies Losing Customers' Money Worth 11 Billion Naira
Pan-African payment startup, Flutterwave, has confirmed that there was a security breach in one of its customer platforms but claims no money was stolen after early detection. We can assure [...]
