In this week’s deals digest, African fintechs take the lead in terms of investments raised, with south Africa’s RSAWEB at the helm following a $10 million investment from Actis. In emerging markets, Mexico’s operator of luxury hotels and suites Casai stole the show with a $23 million investment. The digest also welcomes Bangladesh, represented by ShopUp’s $22.5 investment. Globally, the US’ internet first retail bank raised $533.8 million, the highest investment in this issue.
Top Venture Deals in Africa
South Africa’s business internet and data centre services provider RSAWEB raised $10 million from Actis. The deal will give Actis a non-controlling interest subject to regulatory approval.
Nigerian Edtech Edves is raising $0.5 million from unnamed investors. The enterprise application is raising the funds to expand its market to 10 other countries to acquire schools in its latest go to market strategy. Edves offers an integrated platform for schools, automating operations in schools and colleges.
Nigeria’s Fundall, a digital banking platform, raised $150,000 pre-seed investment from Black Knight Capital. The startup will use the funding to acquire a Microfinance Bank, to cement its operational framework as it upgrades from its Beta phase. Fundall will also launch an MSE banking service which will launch in November 2020.
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South Africa’s Click2sure raised an undisclosed investment in a Series A round led by Greenlight Re and SixThirty. The funding will enable the full stack online insurance broker to develop its product and leverage its digitisation strategy fro insurance businesses.
Egypt’s edtech Marj3 raised an undisclosed seed funding from Expert Dojo and other investors. The investment will allow the online information and advisory services platform to expand its team, and grow universities joining the platform.
Top Venture Deals in Emerging Markets
Mexico’s Casai raised $23 million in a Series A funding led by Andreessen Horowitz, Global Founders Capital, Kaszek Ventures and three other investors. This is the highest amount raised in emerging markets featured in this week’s deals digest. The startup, which combines luxury facilities of hotels with the apartment-style living will use the funding for research and development and grow its team.
Bangladesh’s provider of software solutions to sell on social media ShopUp raised $22.5 million from Flourish, Sequoia, Speedinvest, Lonsdale Capital Partners and VEON. The investment will allow ShopUp to support the digital ecosystem for MSMEs in the country as well as develop a mobile financial service for its users. So far, the startup has raised $28 million to digitize small stores in Bangladesh.
Columbia’s provider of retail chain services Chiper raised $12 million in a Series A funding led by Kaszek Ventures, Monashees and Wind Ventures. The funding will be used to expand its customer, moving from the current 3000 monthly users to 30,000 by the end of 2021. Chiper will also launch in four new cities and expand its staff base by 30%.
Top Venture Deals Globally
US’ Chime tops this week’s deals digest with an investment of $533.8 million from Coatu, Iconiq Capital, Tiger Global Management, DST Global and four other investors.
Singapore’s Princeton Digital Group, a provider of data centres and fibre optic infrastructure for SMEs, entered a definitive agreement for $360 million equity investment led by Ontario Teachers’ Pension Plan and Warburg Pincus. The company will use the additional capital to grow its market and expand to new countries.
Lastly, China’s 3DMed raised $224 in its second equity financing round led by CPE Capital, CICC Capital, Qingsong Fund and three other investors. The provider of personalized diagnostics and treatment for Cancer will use the funds for research and development and expand its overseas business. 3D Med is the deals digest first life sciences firm.
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