Egyptian Fintech Startup MNZL Raises US$ 3.5mn to Scale Operations
MNZL, an Egyptian Fintech, has raised US$ 3.5 million in seed funding from several local and international venture capital firms, one year after being founded. By enabling Egyptians to safely [...]
Nigerian Startup Seamfix Receives US$ 4.5 Million to Upscale Continental Operations
Seamfix, a Nigerian startup that offers services in identity management, was boosted by a US$ 4.5 million private equity fund from Alitheia IDF money that will facilitate their expansion [...]Logistics Startup Renda Raises US$ 1.9 Million to Expand into Kenya
Nigerian logistics startup, Renda, received debt funding worth US$ 600,000 plus equity funds amounting to US$ 1.3 million in its pre-seed round to scale up operations in other cities in [...]Agritech Startup iProcure Placed under Administration
Agritech startup iProcure, which raised millions of dollars in funding, was placed under administration on April 26, the administrator said in a notice published in local dailies on May 1st. [...]
Supporting the African tech ecosystem requires a mixed approach, with capital only one part of the solution
Equity capital is an important cog in the flywheel of the African tech ecosystem. However, it is not the defining ingredient that drives innovative entrepreneurship in the continent’s different markets. [...]CBN Directs Four Nigerian Fintechs to Halt New Account Openings
The Central Bank of Nigeria (CBN) has ordered Kuda Bank, OPay, Palmpay, and Moniepoint to prevent more customers from onboarding their services, as scrutiny continues in the Nigerian financial sector. [...]Ethiopian Startup Kubik Closes Seed Round at US$ 5.2 million
Several Venture Capital firms raised an additional US$ 1.9 million in seed funding to enable Kubik, an Ethiopian eco-startup to ramp up production of cheap building materials from plastic waste. [...]Investors Demand an Audit of Thepeer Weeks after Abrupt Closure
Some shareholders in the collapsed Nigerian API startup, Thepeer, have mentioned that they will take legal action against the founders if a clear audit of the company's finances is not [...]African Tech Ventures Invited to Apply for the Investment Showcase at the 8th Africa Tech Summit London
Africa Tech Summit (ATS) London, the leading tech conference that drives business and investment opportunities across the continent, will host its eighth edition on June 7th, 2024, at the London Stock [...]SafeBoda Introduces Electric Bikes
Ugandan ride-hailing app, SafeBoda, has introduced Electric Boda' option in its menu. The new service will be charged within the normal rates, to motivate customers who are conscious of green [...]Kenyan Agro-Insurance Startup, Pula Raises US$ 20 Million in Series B Round
Pula, a Kenyan startup that offers insurance to small-scale farmers, aims to serve more than 100 million farmers in Africa after raising US$ 20 million in its Series B round. [...]Verod-Kepple Ventures Raises US$60 Million
African startups transitioning from Series A to Series B funding rounds will have an opportunity to attract investment this year after VC-firm Verod-Kepple Africa Ventures (VKAV) closed its first fund [...]
