According to a statement provided to TechCabal today, Thepeer, a Nigerian tech infrastructure startup that facilitates frictionless wallet transfers between businesses, has raised a $2.1 million seed round. Thepeer was created in August 2021 as a solution to the expensive and time-consuming transfer of money across mobile wallets by Kosisochukwu Chike Ononye (CEO) and Michael…
According to a statement provided to TechCabal today, Healthtracka, a Nigerian firm that provides simple at-home lab tests, has acquired $1.5 million in pre-seed funding. Venture capitalists Ingressive Capital and Hustle Fund are leading this round, which also includes angel investors Alunmi Angels Alliance and Flying Doctors. After taking part in the Techstars Toronto accelerator…
Chari, a Moroccan B2B e-commerce and finance firm, said today that it has purchased a 100% share in Diago, an Ivorian app that connects local stores with FMCG makers and importers. AF Legal and RBB International firms, representing Chari, and Houda Law Firm, representing the Ivorian startup, handled the all-stock transaction. This transaction comes just…
The CcHUB’s Creative Economy Practice has selected 15 entrepreneurs to participate in the Createch Accelerator 1.0 program, which will provide them with knowledge, networks, and assistance to help them accelerate their journey to profitability, scalability, and institutional financing. The selected startups will have access to a network of Creative Economy leaders, including the ATCG network…
Doxx launches a digital platform in the Middle East and North Africa (MENA) region, connecting medical professionals and institutional healthcare providers such as pharmacies, labs, scans, and insurance companies to support the patient’s medical journey, increase accuracy, and improve service quality while lowering healthcare costs. The startup raised $1.5 million in a seed round headed…
Autocheck, a Nigerian auto-tech firm, has purchased KIFAL Auto, a Moroccan competitor, to help it expand into the North African market. Autocheck’s goal is to create digital solutions that will improve and enable a seamless and secure automotive commerce experience throughout Africa. By developing a single platform for consumers’ automotive needs, from sourcing and financing…
Nile, a South African agri-tech firm that uses its platform to allow purchasers to buy directly from Africa’s top food producers, has raised a ZAR83 million (US$5.1 million) equity fundraising round headed by Naspers Foundry. Nile was founded in 2020 with the goal of providing farmers with digital solutions to address several pain points associated…
RapidDeploy, a South African emergency response platform, has raised equity capital from Nedbank CIB, the Nedbank Group’s corporate and investment banking division, one of the country’s four main banking companies. RapidDeploy is an open and integrated response technology founded by Steven Raucher and Brett Meyerowitz that transforms any size first responder communications center into a…
The Alexandria Business Angels Network led an undisclosed bridge round for Egyptian company Teegara, a B2B e-commerce platform focused on household and FMCG products. Teegara is a B2B2C e-commerce marketplace founded in 2019 by Ahmad Kayyali and Nader Ibrahim with Ahmed Samir as the first investor. It seeks to help everyone trade, starting with small…
GoMetro, a South African logistics startup, has secured $1 million in a seed extension round to accelerate its growth, enhance its sales team, and aggressively expand into the South African, UK, and US markets. The investment round also included Kalon Venture Partners, Hlayisani Capital, Tritech Global, 4Decades Capital, and E Squared Investments. GoMetro is a…
The Baobab Network, a Nairobi-based accelerator that invests in early-stage software firms across Africa, has announced its next cohort of five investees, each of which will receive US$25,000. After making five more investments as part of a new model, the Baobab Network has been propelling companies with capacity building and fundraising since 2019. It now…
Mindjoy, a Cape Town-based ed-tech company, wants to make coding skills available to kids – and adults — on any internet-enabled device. Gabi Immelman founded Mindjoy in July 2021 to address one of the industry’s most widespread issues: a lack of digital skills development. Mindjoy offers live, small-group virtual coding sessions to kids aged eight…
DigsConnect, a student housing marketplace, has secured funding from international startup capital firm The Delta as part of its latest funding round. The DigsConnect website, which was founded by Alexandria Procter and Greg Ramsay-Keal in 2018, allows landlords, estate agents, and property managers to post their property listings, with students searching and filtering through these…
ArK Kapital, based in Stockholm, has secured a €150 million senior secured debt facility from Pollen Street Capital after raising €165 million in March to provide long-term alternative financing options. Through AI-powered financial forecasts and non-dilutive funding, the company will be able to assist startups in growing smarter. ArK Kapital, which was founded by six-time…
IFC, a World Bank Group member, will invest $15 million in Algebra Ventures’ second fund, which will support the growth of approximately 20 technology startups in Egypt and across Africa. Algebra Ventures II, with a target size of $90 million, will focus on women-led businesses and those serving rural communities, and will provide access to…
Rology, an on-demand teleradiology platform based in Egypt, has closed a pre-Series A round of funding to help it expand across the Middle East and Africa. Rology, founded in October 2017 by Amr AboDraiaa, Moaaz Hossam, Mahmoud Eldefrawy, and Bassam Khallaf, has built a cloud-based platform that provides intelligent matchmaking between patients and remote radiologists,…
The last e-Track Programme concluded earlier this month with seven of the graduating startups pitching their businesses to an audience at a hybrid event hosted on the GSB campus, which was run by UCT GSB Solution Space – a specialized centre of the University of Cape Town Graduate School of Business focused on high-impact early…
Intella, the Middle East and North Africa’s first real-time intelligence provider, has announced a $1 million seed funding round led by Hala Ventures and Falak Startups, with participation from the Egyptian Ministry of International Cooperation and its venture capital arm, Egypt Ventures, as well as the Egyptian Ministry of International Cooperation. Other investors have also…
Sticitt, a South African fintech startup, has received an oversubscribed round of seed funding to help it grow. Sticitt, which was co-founded in January 2018 by Theo Kitshoff, Mitch Dart, and Dennis Wevel, simplifies payments within the South African education market with its simple payment system, Sticitt Pay, which offers niche communities an alternative payment…
Kwik, a French-Nigerian business-to-business startup that provides Software as a Service (SaaS) logistics services to African social vendors and e-commerce platforms, has raised $2 million in its Series A round. With the new funding, the company will be able to focus more on developing digital services for the three core pillars of last-mile delivery, e-commerce…
Pivo, a Nigerian startup, offers an all-in-one financial services platform for small and medium-sized enterprises (SMEs) in the supply chain sector, including banking, lending, and insurance solutions. Pivo, founded in July 2021 by Ijeoma Akwiwu and Nkiru Amadi-Emina and launched in public beta in September, is aimed at any business involved in the import, export,…
Yoco, a South African payments company, has acquired Nona Digital, a Cape Town-based fintech and Web3 software development agency, to accelerate its roadmap by bringing in a team of highly specialized fintech product and technology professionals. Yoco creates tools and services to assist small businesses in accepting card payments in-store and online, obtaining loans, and…
Spleet, a Nigerian real estate technology startup, has raised US$625,000 in pre-seed funding to help it launch a new product that provides tenants with affordable loans to help them pay their rent. Spleet, founded in 2018 by Tola Adesanmi in response to the need to find rentals in Lagos with flexible payment options rather than…
Moove, one of the fastest-growing mobility fintechs, has raised $105 million in a new Series A2 funding round led by previous investors Speedinvest, Left Lane Capital, and the latest ventures, as well as new participants AfricInvest, MUFG Innovation Partners, Latitude, and Kreos Capital. The company said in a statement to Technext that the funds will…
Following the completion of all Central Bank of Egypt (CBE) requirements and the receipt of a US$2.2 million pre-seed funding round, Egyptian fintech and next-generation banking startup Nexta is set to begin operations. Nexta, founded in 2021 by Ibrahim Farag and Ahmed Hisham, is a digital bank that aims to improve Egyptians’ daily lives by…
The Massachusetts Institute of Technology (MIT) Fintech Conference has announced the grand prize winner of its 2022 Fintech Startup Pitch Competition as Kenyan startup Money254. Money254 is a financial services comparison platform that will be launched in April 2021, making it easier for users to find, compare, and apply for financial products that meet both…
Chefaa, an Egyptian e-health startup, has raised an undisclosed amount of funding to help it expand its network, launch a new product, and enter new markets. Chefaa, founded in 2017 by Rasha Rady and Doaa Aref, is an e-pharmacy platform that offers a complete healthcare experience. The startup provides users with compliant, ethical, and patient-centric…
The Westerwelle Foundation and Obuntu Hub have joined forces to build Arusha’s largest startup hub, with the ambitious goal of boosting Tanzanian entrepreneurship and the economy as a whole. The Westerwelle Foundation is a non-profit organization based in Germany with the mission of empowering entrepreneurs in emerging markets. It already has hubs in Kigali and…
Tendo, a Ghanaian startup that allows anyone to sell online with no upfront inventory, has launched in Nigeria with the support of industry heavyweights such as Catalyst Fund, Google, and Y Combinator. Tendo, which debuted last year, has created a mobile app that connects dropshippers with local wholesalers. Sellers on the platform can use social…
Vula Mobile, a South African medical referral app and online platform that hosts a network of health professionals, has partnered with leading pharmaceutical firm Novartis to improve eye care services in Sub-Saharan Africa. Primary health care workers can connect with specialists via the Vula Mobile digital platform, allowing for faster assessment of eye conditions and…