South African API fintech startup Stitch has extended its seed round to US$6 million from the US$4 million announced earlier in the year, and at the same time confirmed its expansion into Nigeria. The Stitch API allows developers to connect apps to financial accounts within minutes, allowing their users to share their transaction histories and balances, confirm…
Bboxx, a future-minded energy utility that claims to be “tackling the global energy poverty crisis,” has officially launched in Nigeria, Africa’s most populous nation and Bboxx’s largest market to date. Bboxx is set to provide much-needed energy solutions to Nigeria’s electricity challenges by expanding access to clean, affordable and reliable Solar Home Systems (SHS). According…
Nigeria has once again exhibited her readiness in showing the world her innovative ideas, as the National Information Technology Development Agency (NITDA), under the supervision of Ministry of Communications and Digital, presented nine (9) top Nigerian Innovative Technology-driven Startups that provided solutions to technology problems at the recently concluded 41st edition of the Gulf Information Technology Exhibition…
mPharma, a Ghanaian health startup, has taken a controlling stake in Uganda’s Vine Pharmacy for an undisclosed amount, marking the firm’s entry into its latest market in Africa. mPharma disclosed to TechCrunch that it has acquired a 55 percent stake previously held by the Abraaj Group, a private equity firm that collapsed after investors, including…
South African clean-tech startup Brayfoil Technologies has been selected to take part in the Katapult Ocean accelerator, in addition to securing an undisclosed amount of funding from the Norway-based ocean impact investor. Formed in 2017, Brayfoil Technologies uses biomimicry-inspired compliant structures that change shape like bird’s wings to enable larger wind turbines and lower the cost of…
Based in Cape Town, South Africa, Skrmiish, a gaming technology startup, has launched an app embedded with BTC blockchain to enable gamers to play and win cash. The Skrmiish app allows the creation of competitive gaming experiences for fun, rewards or cash. Its current innovation, the patented Layer-2 Bitcoin cryptocurrency digital wallet, was developed in…
Seven Africa-based startups have been selected to take part in the latest edition of the Techstars Toronto accelerator, securing access to mentorship, US$120,000 in funding and the opportunity to secure further investment at demo day. The 13-week Techstars Toronto accelerator programme is designed to provide mentorship, funding and access to the Techstars network. It culminates…
The UAE-based Fintech Galaxy has partnered with the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) to launch a new cross-border accelerator programme to help startups from Egypt and Jordan expand into both markets. The two-month Yalla Xtech programme is aimed at helping startups to expand beyond their borders. It hopes to promote cross-border inclusion and knowledge…
South African fintech startup Peach Payments has set up an office in Mauritius as it continues its pan-African expansion following a foray into Kenya in 2018. Founded in South Africa in 2012, Peach Payments enables businesses to easily accept payments on their websites and mobile apps, integrating with leading e-commerce platforms like WooCommerce, Shopify, Wix and Magento….
Cairo-based startup Talabeyah, which runs a food and grocery B2B e-commerce and distribution platform, has raised US$1.1 million in funding from a group of angel investors to help boost its strong early growth. Founded by Karim Nassef, Amr Abbas, Khaled Hussein and Adel Hodroj in July 2020, Talabeyah provides a tailored simple solution for retailers, allowing them…
Nigerian retail-tech startup Alerzo has acquired fintech company Shago Payments as it looks to build on already impressive growth that saw its annualised September transaction volume exceed US$155 million. Founded in 2019, the Ibadan-based Alerzo is an all-in-one technology and services platform that transforms how Nigeria’s informal retail stores operate. Retailers can order stock, have it delivered…
South African school management and communication startup d6 has raised an undisclosed funding round from a group of local VC companies, and is now targeting global growth. Founded in 2017, d6 has developed ed-tech solutions consisting of a comprehensive communication and payment facilitation solution between a school, parents and learners, and a fully integrated cloud-based school administration,…
Sudanese classifieds startup, alsoug has received a $5 million investment co-led by Egyptian fintech company, Fawry. The investment is the first foreign investment into the Northern African country since sanctions were lifted in 2020. alsoug is Sudan’s largest classifieds marketplace and allows consumers to buy and sell products including real estate, cars, electronics, and furniture as well…
Sixteen seed and Series A level African tech startups have been named finalists for the 2021 VC4A Venture Showcase, which will see them pitching to potential funders at the Africa Early Stage Investor Summit next month. Since 2017, the VC4A Venture Showcase has helped startup founders showcase their businesses to investors during the Africa Early…
Kenyan logistics startup Sendy has completed a strategic equity investment in Ivory Coast-based counterpart Kamtar to boost the former’s expansion plans in West Africa. Launched in 2015, Sendy offers a marketplace for last-mile package delivery and logistics services, allowing customers to send packages and documents using a mobile application that connects them to motorcycle riders, and drivers…
Payday, a Pan-African financial technology company has announced a $1m pre-seed fund raise. According to the startup, the raise will help it to build an online payments system that is equivalent to Paypal. According to the announcement, the raise was supported by several investors including LofyInc, Microtraction, Magic Fund, Ventures Platform, Voltron Capital, CcHub Syndicate, Helicarrier…
The world’s largest beer company, AB InBev, has partnered Hindsight Ventures to launch the Beer Garage Africa Innovation Challenge, which will offer startups access to venture development and grant funding. AB InBev, which has over 500 brands and over six million B2B customers in over 100 countries, launched Beer Garage a few years ago with…
At a virtual event on Wednesday (Oct. 6), Google’s CEO Sundar Pichai said his company will invest $1 billion in Africa over five years to build a subsea internet cable, support nonprofits, and fund businesses. The cable, named Equiano after the Nigeria-born 18th-century abolitionist, has been in the works since 2019 when it was first announced. It…
Seven African startups are among the eight selected to take part in the inaugural cohort of the Last Mile Money Accelerator, a four-month programme managed by IDEO and funded by the Bill & Melinda Gates Foundation. The aim of the Last Mile Money Accelerator is to supercharge inclusive fintech startups with grant capital, world class…
Nigerian fintech startup Bitmama has closed a US$350,000 pre-seed funding round to grow its operational presence, expand its team, and penetrate new markets across the continent. Launched in 2019, Bitmama provides a secured blockchain infrastructure that allows users across Africa to transact Bitcoin, Ethereum, Celo and six other cryptocurrencies. With users across Nigeria and Ghana, Bitmama has…
Kenyan agri-tech startups have been invited to apply for the O-Farms accelerator programme, which is focused on circular agribusiness with the goal of making circularity a mainstream approach for improved rural livelihoods and sustainability. Funded by the IKEA Foundation, O-Farms is led by Bopinc and Village Capital and is focused on accelerating the next generation…
South African startup abela is supporting the informal economy with the same autonomy and security that banks offer to the formal economy via a QR code-enabled system. Launched in August 2020, abela started as a QR code-enabled payment platform offering users without a bank account the ability to receive tips and payments digitally. Since then, it has…
Former Vice President Al Gore has invested $600 million of equity into U.K. energy startup Octopus Energy Group via his Generation Investment Management vehicle, taking a stake of approximately 13% in the business. The investment means Octopus has attained a valuation of around $4.6 billion. Octopus has made a name for itself in energy circles largely because of its…
Nigerian ed-tech startup Edves has raised a US$575,000 seed funding round to help it improve its product and bring more schools online. Formed in 2016, Edves is an academic portal that automates operations in schools and colleges from admission to transcript generation. The platform reduces teacher and administrator workload and gives them opportunities to mark attendance and…
For any Startup or business, it is necessary to keep in mind that no business plan or strategy is foolproof. For this reason, business schools that teach entrepreneurship teach that startups should aim to fail fast forward frequently and frugally. The key is to accept that some form of failure is inevitable but, the way…
Nigerian mobility startup Moove, which provides revenue-based vehicle financing to help individuals across Africa own their own vehicles, has expanded to Cape Town and is gearing up for further pan-African growth. Founded by British-born Nigerians Ladi Delano and Jide Odunsi, who have successfully built three other businesses in Africa over the last eight years through…
Input Output has launched a six million dollars (USD) blockchain fund in Africa, to invest in the most innovative blockchain projects, who are building on Cardano in Africa. The fund focuses on blockchain technology because the lack of deeply embedded legacy infrastructure means that African governments and businesses have fewer obstacles to adopting next-generation technology than the…
When it comes to gender equality in the business world, Facebook COO Sheryl Sandberg hit the nail on the head: “Knowing that things could be worse should not stop us from trying to make them better.” While access to opportunities, funding and support has improved for women in the startup space over the last couple of decades,…
Nigerian startup Infibranches Technologies, which helps solar energy providers manage their operations and receive payments, has secured US$2 million funding from All On, an impact investment company backed by oil major Shell. Founded in 2019, the Lagos-based Infibranches has developed two flagship products – OmniBranches and Green Energy Plug – that help companies with large distribution networks,…
Ed-tech startup eLearn Africa has partnered the Association of African Universities (AAU) to design, build and deploy learning management systems across the continent, giving university students access to free online courses. Launched in 2016, eLearnAfrica is an online marketplace for education that aims to simplify the process of finding and enrolling for online courses, degrees and professional…