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African tech took center stage in 2021

TechCrunch

But two months into 2020, the pandemic did an excellent job of lowering expectations as investment activities from local and international investors slowed down. Also, all but two deals were solely equity-based: TradeDepot and MFS Africa raised a mix of equity and debt. A handful of local acquisitions and a monumental exit.

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Finclusion raises $20M to build out credit-led neobank offering across Africa

TechCrunch

Finclusion’s debt financing, which makes up the larger share of the overall round, was provided by local currency funds in Eswatini and South Africa. The fintech intends to grow existing operations in South Africa, Eswatini, Kenya, Namibia and Tanzania and expand into Mozambique and Uganda.

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Casava gets $4M pre-seed to make insurance affordable and accessible to Nigerians

TechCrunch

The general perception of insurance on the continent has been bland for years, and its penetration rate, except South Africa, is subpar. Per a McKinsey study in 2018, Africa’s insurance market stood at a 3% penetration rate; with South Africa excluded, it was 1.12%. The local investors involved are all founders.

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New report examines Africa’s growth in the digital economy and VC investment landscape

TechCrunch

The dynamics that play into this forecast, aside from the impact of COVID, include a youthful population (the youngest globally), rising smartphone adoption and internet penetration that has led to a burgeoning tech ecosystem backed by local and international VC dollars. Image Credits: Crunchbase/Endeavor.

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a16z, Avenir and Google back South African mobile games publisher Carry1st in $20M round

TechCrunch

The South Africa-based company, which currently has a team of 37 people across 18 countries, wants to use this additional capital to scale interactive content across Africa. Over time, it switched to a hybrid model, adopting a publishing role and handling distribution, marketing and operations.

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Nomod raises $3.4M seed to allow merchants accept payments without hardware

TechCrunch

The plan for the company is to provide merchants with access to accounts, cards, local payment networks and lending. Kassim said the company is conducting tests with merchants in Nigeria and South Africa and expects to launch both markets in the near future. . Australia and Asia.

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African edtech startup uLesson lands a $7.5 million Series A

TechCrunch

Similar to many edtech startups, uLesson has benefited from the overnight adoption of remote education. There are placement agencies in South Africa and Kenya and offline tutoring marketplaces that send people to student homes, but no clear leader from a digital curriculum perspective.

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