A US$2.5 million seed round has been raised by the Cape Town-based Skrmiish, a mobile “play-to-earn” software that allows players of all skill levels to earn money in every match they play across the AAA+ games they like. MoneyMatch, a feature created by Skrmiish and released in 2021, enables users to earn real money in…
TeamApt, a fintech business in Nigeria, announced its Series B investment in July 2021. Global Ventures, Oui Capital, Kepple Africa Ventures, Gbenga Oyebode, and a few more angel investors and venture capitalists participated in the round. The Oui Capital Mentors Fund II, a $30 million fund, is being launched today by Oui Capital, one of…
A $250k pre-seed round of funding has been raised by EVOLUTICS, a Nigerian start-up that provides software solutions to insurance providers for life, general, and health insurance. The round was led by Mercurial Advisory and Dinku Transnational of Dubai. The money will be used to give industry participants access to digital infrastructure for life, general,…
Outsource Monetic Group, an American and Senegalese fintech based in Atlanta, GA, announced this week the completion of a pre-seed funding round with 500 Global, a San Francisco-based startup accelerator. The fintech also announced the start of the pilot phase of its private ATM network, KaliSpot, in Senegal and Côte d’Ivoire. The KaliSpot network is…
Michanic, a South African mobile car service and repair platform, has received US$400,000 in debt capital from the MultiChoice Innovation Fund to assist it in further developing its technology and expanding across the country. Michanic, founded in 2016 by Lesetja Dikgale, allows users to request instant service and repair quotes from its online platform, saving…
Qwili, a hybrid hardware-software startup based in Cape Town, has raised US$1.2 million in an oversubscribed seed funding round to support the launch of its low-cost NFC smartphone. E4E Africa, a venture capital organization focused on entrepreneurs, led the funding round, which included funds and angel investors in addition to Strat-Tech, Next Chymia, and Untapped…
SANAD Fund for MSME, an impact investment fund committed to assisting business owners in the Middle East and North Africa, and Silicon Badia, a venture capital firm investing in global technology entrepreneurs, both actively participated in the $12 million Series A fundraise for Cartona, a B2B platform with headquarters in Egypt. Along with already established…
Ubenwa, a cutting-edge healthtech firm that uses machine learning and artificial intelligence to identify newborns between the ages of 0 and 6 months, has secured $2.5 million in pre-seed capital to scale its operations and realize its go-to-market plan. Charles Onu, a Nigerian with experience in the medical industry and a significant amount of AI…
The Kofi Annan Award for Innovation in Africa has been given to Vaxiglobal, a Zimbabwean startup that uses contactless biometrics to reduce waste of immunization resources, improve data quality with open standards, and enable the expansion of immunization campaigns in African nations. Vaxiglobal will receive a $250,000 cash prize as one of the award’s winners….
Start-up companies are encouraged to apply for the possibility to obtain early-stage financing ranging between 10,000 EUR and 50,000 EUR through Uncap, an award-winning platform designed to give African entrepreneurs access to early-stage funding. Uncap was established in 2019 with the intention of enabling all deserving founders in sub-Saharan Africa to access early-stage investment. Access…
Ucrop.it, a digital platform that offers value and traceability to sustainable agricultural practices, recently revealed that it had raised $3.1 million in a fundraising round that was among others led by Yugen Partners and The Yield Lab Latam. These resources will aid in the agtech’s regional and American expansion. Between Argentina, Uruguay, and Paraguay, ucrop.it…
The ultimate close of Cathay Innovation and AfricInvest’s joint Pan-African Venture Fund, Cathay AfricInvest Innovation Fund, totaled €110 million. AfricInvest is an African multi-asset investing platform. The fund is supported by LPs like the EIB, AfricaGrow, FMO, Bpifrance, Triodos Investment Management, Proparco, SIFEM, BIO, and others, as well as a diverse group of well-known investors…
After a public beta launch from 500 Global, angel investors through Women Spark, and Falak Angels, Egypt-based Stllr Network has closed a six-figure funding sum. The KSA Ministry of Investment, former executives from Microsoft and Oracle, Accenture, Emkan, and the Digital Cooperation Organization are among the list of investors. Stllr was established in 2021 by…
Cassava Technologies, an African integrated tech company, said today that C5 Capital (C5), a specialized venture capital firm that invests in cyber security, space security, and energy security, has made a $50 million investment in the company. The investment is a part of a larger funding round intended to hasten Cassava’s expansion. The money provided…
Following its graduation from the third cohort of the Mohammed VI Polytechnic University (UM6P) Startgate and Plug and Play Morocco startup competition, the Moroccan edtech company Smartprof has earned $50,000 in investment. Hamza Faiz, Mustapha Faiz, and Ali Faouzi founded Smartprof in 2021 to provide a tutoring software for pupils in school. “This event is…
The top accelerator and pre-seed impact fund for developing market entrepreneurs, Catalyst Fund, a global inclusive tech accelerator managed by BFA Global, has announced that FSD Africa has contributed $3.5M to underpin the Fund’s presence in Africa and scale its operations. With the help of FSD Africa, Catalyst Fund will invest in high-impact businesses that…
A $25 million funding commitment has been made to the Nigerian decentralized sports gambling platform Scorefam by the Bahamas-based investment company Global Emerging Markets (“GEM”) digital limited. Scorefam will be able to broaden its reach, develop additional cutting-edge features, and keep hiring highly qualified staff thanks to this financial commitment. According to Sofowora Babasola, COO…
The Norwegian Investment Fund for Developing Countries (Norfund) and KLP, Norway’s largest pension company, through their joint company KLP Norfund Investments, have completed a US$40 million equity investment in CrossBoundary Energy (CBE), a developer, owner, and operator of commercial and industrial renewable energy systems in Africa. The $40M commitment supports the size and maturity of…
Pre-seed funding of US$500,000 has been secured by Nigerian fintech company Swipe this year as it seeks to increase access to its numerous credit offerings. Swipe, a credit-focused software startup founded in 2020, supports businesses in Africa by offering credit solutions that permit company growth and expansion through credit purchasing. Its goal is to increase…
Activant Capital, Valor Capital, Abstract Ventures, Acrew Capital, Upload Ventures, and a collection of angel investors from firms like Plaid, Kavak, Jeeves, Xepelin, iFood, and R2 announced a $30 million Series A fundraising round for one-click checkout eCommerce startup DEUNA. A $7 million seed round in October 2021 was included in the $37 million total…
Africa’s Climate Venture Builder, Persistent Energy Capital LLC, revealed that its Series C round of funding included USD 10 million in equity. With the help of Kyuden International Corporation and FSD Africa Investments, the raise was made possible, and it would allow Persistent to expand its climate venture building business in Africa. Six new private…
Pay-as-you-go (PAYGo) solar household systems are designed, produced, and sold by the Kenyan and Canadian business Solar Panda, which has secured US$8 million in Series A funding. The investment will be used to enhance the company’s product offerings, increase its presence in Kenya, and pave the way for future growth in Sub-Saharan Africa. The funding…
According to the startup, a funding round headed by Inflection Point Ventures netted $1.75 million for the content monetization platform ConsCent. Early-stage investors Vijay Sivaram, the former co-founder of Rivigo Gazal Kalra, and early-stage funds Varanium Capital, RiSo Capital, SucSEED Innovation Fund, Sigurd Ventures, AngelList, PitchRight Ventures, among others, took part in the round. Since…
Over the next three years, Huawei South Africa promises that its $5.8 million Cloud Spark programme will empower more than 1,000 small and medium-sized businesses (SMEs). A hybrid accelerator program for tech companies and SMEs is called Cloud Spark. For the implementation of the program, the company intends to collaborate with Silicon Cape, a non-profit…
A pre-seed funding round for CreditChek, a Nigerian lender, raised $240,000 under the leadership of Atom Capital, with contributions from Aidi Ventures, Ham Serunjogi of Chippercash, Olumide Ogunsanwo of Adamantium Fund, Damola Adegboyega of Assembly Investors, Isaac Ewaleifoh of Launch Africa Ventures, and Ogundiran Kayode. The company said that with the help of this money,…
Endeavor has closed Endeavor Catalyst Fund IV, a $292 million venture capital fund, and it still intends to invest in the businesses throughout the world that are run by Endeavor Entrepreneurs. Endeavor Catalyst Fund IV was the company’s largest fund to date when it closed, exceeding its original $200 million to $250 million goal. Additionally,…
In order to extend its drone delivery services abroad and increase manufacturing of the Wingcopter 198, the most effective eVTOL delivery drone in the world, Wingcopter, a German manufacturer and service provider, has raised $42 million. German investors Salvia and XAI technologies joined the board as new shareholders, as well as the German retailer REWE…
Persistent has provided cash to the Ghanaian e-mobility business SolarTaxi in order to expand its product line. SolarTaxi is an electric two-wheel (e-2Ws) and four-wheel (e-4Ws) vehicle manufacturer and distributor that Jorge Appiah founded in 2018. These cars are used for delivery and transportation services. The company also has operations in Kumasi, Takoradi, and Tamale….
Wave Mobile Money, which operates in Senegal and Côte d’Ivoire to cut costs and increase services in the area, has received money from the IFC, a division of the World Bank, to promote financial inclusion and assist economic growth in Senegal and Côte d’Ivoire. With the support of financing from IFC and other lenders, Wave…
Paymee, a fintech firm that provides an online payment gateway, has completed a six-figure fundraising round with P1 Ventures as the lead investor. The business will use the money to expand its enterprise offering and quicken the pace of product development. The start-up specializes on digitizing payment processes and providing card-based online payment acceptance solutions….