In the second issue of the Weekly Deals Digest, we cover the deals in Africa for the week and also look at other emerging markets like South America and South Asia. We have also included a snapshot of the top global deals in this period.
Kenya’s HR and Payroll Startup WorkPay raised $2.1 million seed funding with an aim to accelerate their growth across Africa. The company, which joined the prestigious Y Combinator in March this year, is a cloud-based human resources management and payroll solution for small and medium-sized businesses. They currently process payrolls for more than 25,000 employees in Kenya.
Another Kenyan startup, MarketForce360 became the latest admission to Y Combinator and in the process raising $150,000 in funding. MarketForce360 seeks to help consumer brands optimize their delivery of goods and services to customers and retailers. This is their second fund raise this year, having raised an earlier $350,000 in May led by Viktoria Business Angels Network, P1 Ventures, EchoVC Partners, and Ventures Platform.
Kilimo Fresh, Tanzania’s online platform offering multi-category grocery products rounds up our East African deals this week with a $50,000 seed raise.
A few other deals that caught the eye this week were:
SpaceX raises $1.9 billion in the latest and biggest round of funding for the company yet, per SEC filings. This brings the company’s valuation to $46 billion after the raise. This latest round of funding comes on the backdrop of some major progress but SpaceX in space travel and satellite internet provision that the company has been doing test on.
Robinhood, the zero commissions trading app for stocks, cryptocurrencies and other assets also raised $200M bringing its valuation to $11 billion.
Download the full Weekly Deals Digest Issue here to read all the deals tracked.