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The round was co-led by African early-stage VC firm Future Africa and Japanese but Africa-focused VC Kepple Africa Ventures. The seed investment that is coming a year after Termii graduated from the YC will be used for expansion and launch more messaging offerings across Africa. million seed round.
Internet giant Google announced today that it has made the first investment from its Africa Investment Fund in Ugandan super app SafeBoda. He made this known at the Google for Africa event in October. Before launching the fund, Google proved helpful in startups’ journeys via its Google for Startups Accelerator Africa program.
Africa still battles with this and it is not hard to see why. Kenya’s Twiga Foods eyes West Africa after $30M raise led by Goldman. Africa-focused firms TLcom, IFC Ventures, DOB Equity, and Goldman Sachs’ spinoff Juven , wrote follow-on checks too. Now, they only spend 6% of their household income on food and beverages.
In February, Nigerian fintech startup Mono announced its acceptance into Y Combinator and, at the time, it wanted to build the Plaid for Africa. Three months later, the startup has a different mission: to power the internet economy in Africa and has closed $2 million in seed investment towards that goal.
The founder also said one of the reasons for the pivot from Insidify to SeamlessHR was because the former wasn’t profitable and lacked the flexibility to scale across Africa. We have the largest aggregation of medium-to-very large companies in Africa,” Okeleji remarked. It’s a typical salary structure in markets such as the U.S.
Pula , a Kenyan insurtech startup that specialises in digital and agricultural insurance to derisk millions of smallholder farmers across Africa, has closed a Series A investment of $6 million. But in Africa, where smallholding or small-scale farms are the norms, the number stands at an average of $4. In the U.S. million farmers.
Cash flow is a major pain point for small businesses in Africa. It’s an identical problem for more than 51% of 44 million formal SMBs in sub-Saharan Africa who say they need more finance than they can access to grow their businesses, per research. We are excited to be the growth partner of choice for businesses in Africa.” .
Nigerian mobility tech startup Metro Africa Xpress Inc. ( MAX ) is planning to enter more markets across Africa as it races towards formalizing the continent’s transportation sector after securing $31 million in Series B funding. We work with Yamaha in the area of access to vehicles for the drivers, and in the access to finance.
FirstCheck Africa, Samata Capital, Future Africa, IgniteXL participated in the round, in addition angel investors ex-SokoWatch COO, Kwenhui Tawah, and ex-L’Oreal executive and current WPP Scangroup CEO, Patricia Ithau. Lee is an economist turned filmmaker. Uncover was launched after incubation at Antler.
The year 2021 saw more and bigger deals closed in Africa, as tech startups across the continent raised close to $5 billion. billion investment that fintechs in Africa raised in 2020, and triple the amount in 2019. Jumo and MNT Halan raised $120 million rounds, as digital payments gateway MFS Africa gained $100 million.
The Africa Wildlife Foundation cleverly uses its website domain name to promote its social media profiles by creating easy-to-type redirect URLs. In this example of a “Thank you for subscribing” email, Water.org requests that new subscribers also follow them on social media. 5) Add a call-to-follow to your print campaigns.
Saviu Ventures, a VC firm targeting startups in Francophone Africa, has made an initial close of €12 million for its second fund with the backing of private investors, including French and Kenyan family offices.
Backed by YC, Vendease is building Amazon Prime for restaurants in Africa. Platforms digitizing the food supply chain for restaurants and food businesses across the continent have been scarce in Africa since Twiga launched in Kenya seven years ago (however, with a slightly different model). million and $1.2
As with most technologies, Africa is playing catch up in this food-tech segment. million pre-seed round to scale its software across Africa. Orda’s addressable market is this segment of Africa’s restaurant industry. One such startup is Nigeria’s Orda , formerly known as StarKitchens. Last year, 80% of the U.S.
Africa seemed to defy the global venture funding decline in the first half of 2022 after its startups raised $3 billion, double the amount secured over a similar period the previous year. Africa predicted to experience sustained funding slowdown in 2023 by Annie Njanja originally published on TechCrunch.
Even though insurance penetration is very low in Africa, many insurers’ processes are time-consuming, expensive and prone to fraud and waste because they use paper and antiquated technology. On the call, Mascot mentioned several times that the insurtech was built to serve businesses in emerging markets, not just Africa.
On November 14, Nestcoin, one of the startups leading crypto and web3 efforts in Africa, announced that it was laying off several employees. It was the perfect marketing required to onboard several customers in Africa and challenge Binance , the world’s largest crypto exchange by volume, for market share.
Chinese automaker Geely has opened its first completely knocked down (CKD) factory in Africa and the Middle East, with plans to produce up to 30,000 vehicles annually within the next three years, according to local media outlet Egypt Today. The facility is expected to meet local demand and serve other countries in Africa and the Middle East.
Ghana-based AppCyclers aims to tackle this crisis across Africa via an online marketplace, where individuals and businesses can buy and sell recyclable e-waste. The startup says its mission […]
Unlike Africa, these regions raised way less venture capital in 2022 than in 2021, so it makes sense that their unicorn numbers dropped. So what happened in Africa in 2022 that made it so … weird? Why Africa had no unicorns last year despite record fundraising haul by Tage Kene-Okafor originally published on TechCrunch.
From Seattle, Washington, to Cape Town, South Africa and everywhere around and between AI is helping conserve the wild plants and animals that make up the intricate web of life on Earth. The companys technologies monitor more than 30 million hectares of land that directly impact wildlife in Africa and Australia.
In Africa, for instance, fashion has held the top spot in Jumia for the largest category of items sold over the years. The luxury goods market in Africa and the Middle East was worth over $35 billion in 2019, with designer apparel and footwear generating more than $7 billion in retail alone. million) in pre-seed funding.
to help hotels and restaurants buy food supplies in Africa. The participation of lead investors in this round, TLcom Capital and Partech Africa (both control large pan-African funds), bodes well for that plan, said the chief executive, adding that having both investors on board means his company has backers “ready to go the long haul.”.
14) 16% of donors in Africa prefer to give through mobile devices which is the highest of any region. In Africa, mobile technology is how most people first get access to the Internet and giving to and engaging with NPOs and NGOs on mobile devices is a fast-growing trend. Currrently, WhatsApp inspires 20% of giving in Africa.
TL;DR: Live stream Afghanistan vs. South Africa in the 2025 ICC Champions Trophy for free from anywhere in the world with ExpressVPN. Afghanistan vs. South Africa is the first game from this ultra-competitive group. South Africa in the 2025 ICC Champions Trophy for free from anywhere in the world, we have all the information you need.
Increased access to online and mobile giving technology in Africa, Asia, and South America will likely grow these numbers significantly in coming years. 14) 32% of donors in Africa prefer to give cash which is the highest of any region. View: Giving Trends in Africa Data Sheet.
5) Africa’s population will more than double to 2.6 Social good organizations will be crucial in advancing economic development throughout Africa to ensure its rising population has a better life than the generations before. A messaging app revolution is happening throughout Asia, Africa, Latin America, and the Middle East.
Leta , a Kenyan B2B supply chain and logistics SaaS provider launched last year to optimize fleet management, is looking for growth opportunities in West Africa, even as it scales operations in its existing five markets. Google’s third bet from its Africa Investment Fund is in logistics company Lori Systems.
Cloudy day : Google’s first cloud region in Africa launched in South Africa. Daily Crunch: Google will use private subsea cable to launch its first full-scale cloud region in Africa by Christine Hall originally published on TechCrunch. Haje is enjoying a well-deserved day off, but I’m here to dive into some news with you.
Bringing it to Africa, only 10 percent of the West African startups that cumulatively raised $1 million had at least one female co-founder in the past decade. FirstCheck Africa , a female-focused angel fund that launched yesterday, is hoping to address this challenge.
Sony Group announced today that it has established Sony Innovation Fund: Africa (SIF: AF), a program that will support the growth of entertainment businesses in Africa.
As businesses reopened globally and the pandemic drove people to adopt new habits in e-commerce, work, spending money, online delivery, and learning, venture capital into various industries was poised to increase immensely, and Africa would not be exempt. Venture capital investment in Africa predicted to reach a record high this year.
African subsea cable operator Seacom said that its services on its West African cable system were down, reports The Guardian. The company added that customers who use the cables were being redirected to the Google Equiano cable. Read Entire Article
In addition to Americans, parts of Europe, Australia, Asia, South America, and Africa can also get in on the action. In the wee hours of the morning, night owls can witness a full blood moon, supermoon, “worm” moon, and a total lunar eclipse.
In South Africa, these businesses contribute around one-third of the country’s GDP. Despite South Africa’s high card and mobile penetration rates of over 70%, the country’s SMEs still struggle to accept cards. South Africa’s Yoco raises $16 million to boost digital services to small businesses.
The round, led by Tiger Global — the VC firm’s third major investment in Africa this year after Flutterwave and FairMoney — also had participation from new investors Target Global (an investor in neobank Kuda), General Catalyst, and SBI Investment. Nigeria’s Mono raises millions to power the internet economy in Africa.
In a statement shared with TechCrunch, Smile Identity said it is “actively fulfilling regulatory requirements to finalize the transaction for the [Inclusive Innovation] affiliated entities in Africa.” Document verification and face recognition and matching comprise Smile Identity’s base-level product that works across Africa.
Chinese-backed and Africa-focused fintech platform OPay is in talks to raise up to $400 million, The Information reported today. Opera’s Africa fintech startup OPay gains $120M from Chinese investors. Airtel Africa sells $200M mobile money business stake to TPG’s Rise Fund.
When companies create digital payments-facing solutions for African countries outside Nigeria and South Africa, building around mobile money is key. based and Africa-focused payments company, is one of the few tackling these complexities. The company is led by CEO Nikolai Barnwell , betPawa’s former head of New Markets, Africa.
The venture capital scene in Africa has consistently grown, with an influx of capital from local and international investors reaching unprecedented heights in recent years. billion while Disrupt Africa, $496 million for the same year. In 2019, Partech Africa reported that a total of $2 billion went into African startups.
During TechCrunch’s last conversation with CEO Ham Serunjogi , when the company announced its Series C round, he called Chipper Cash “the most valuable private startup in Africa” without specifics on the actual value. Its services are used across seven African countries — Ghana, Uganda, Nigeria, Tanzania, Rwanda, South Africa and Kenya.
The proliferation of fintech services across Africa remains in full swing as investors remain bullish about the opportunities that abound in the sector. Its second investment came just in time before the COVID-19 pandemic hit Africa, negatively impacting some businesses but not payments companies like Flutterwave.
And in trying to sweet-talk investors, what’s not taken into context or often disregarded is that Africa is a fragmented $3 trillion market. From Onayemi’s point of view, the growth of Africa’s digital economy revolves around gains in six segments: education, payments, logistics, transport, identity, and trade.
Nigeria’s Kuda raises $10M to be the mobile-first challenger bank for Africa. million; Nigerian automotive tech startup Autochek Africa , which raised $3.4 They are building Africa’s API infrastructure that connects bank accounts with financial institutions and third-party companies for different purposes.
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