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Flutterwave and PayPal collaborate to allow African merchants to accept and make payments

TechCrunch

It is nearly impossible for businesses in some African countries to receive money from PayPal. Via this partnership, African businesses can connect with the more than 377 million PayPal accounts globally and overcome the challenges presented by the highly fragmented and complex payment and banking infrastructure on the continent.

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Norebase raises $1M to allow companies start, scale, and operate in any African country

TechCrunch

In an interview with TechCrunch, CEO Onayemi, a lawyer by profession, said the idea for Norebase came after various conversations on how his clients and colleagues in tech could leverage AfCFTA for their businesses. It allows founders and businesses to start and scale across several African countries at once or periodically.

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Cleantech Qotto embarks on growth plan backed by $8M funding

TechCrunch

Qotto , a solar kits provider with operations in Burkina Faso and Benin, has raised $8 million in a Series A equity-debt round led by the IBL group, a billion-dollar conglomerate headquartered in Mauritius with business interests in a number of sectors including energy, financial services, logistics, distribution, and engineering.

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Early-stage African VC firm, Microtraction reports portfolio boom despite the weight of COVID-19

TechCrunch

In a year marred by the coronavirus pandemic, it seems that early-stage startups on the African continent are continuing to see some notable growth, both in terms of their business and from investors looking to back them. . The companies’ combined valuation stands at over $147 million according to the firm.

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Goldman Sachs spinoff Juven to back African high-growth companies with large checks

TechCrunch

Mauritius and U.K.-based The one-year-old firm is looking to invest large checks in companies “that have proven business models, strong revenue traction and large addressable markets,” it said in a statement. Frebault adds that Juven may also consider non-tech companies that can solve such problems.

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MFS Africa collects $100M to expand its digital payments gateway across the region

TechCrunch

But a s the company continued to grow, it became apparent that the product had use cases for small businesses. In fact, at the time, more than half of its users in East Africa reported using the platform for business reasons, according to Okoudjou. MFS has made a series of acquisitions and investments this past year.

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Savannah Fund launches $25M fund to invest in African startups at seed and Series A

TechCrunch

This is the second fund for the nine-year-old Mauritius-headquartered investment firm. “Early-stage funding is vital to enable more of Africa’s emerging and growing tech founders to grow their business and fuel the transformation of Africa’s internet economy. Paul Bragiel (Generap Partner, Savannah Fund).

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