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Emmanuel says the company has its sights on North Africa with a physical presence in Algeria for the expansion. The reason lies behind the fact that in this quarter, Nigeria has accounted for 76% of the company’s messaging transactions, while Algeria currently accounts for 15%.
As Mylerz expands to Algeria, Tunisia and Morocco, Fawry, its payments partner, will come along to provide electronic payment and cash collection services. Egyptian fintech Paymob raises $50M led by PayPal Ventures and Kora Capital.
Yassir, an Algerian startup that provides on-demand services such as ride-hailing and last-mile delivery, has raised a $30 million Series A round. This round of funding makes Yassir the most funded startup in Algeria and one of the most funded in the Maghreb and MENA region. After earning a Ph.D.
But before that, there was shared optimism that African startups would raise more VC funding last year than in 2021 when the continent, for the first time, passed the $4-5 billion threshold. Total funding and number of deals Briter Bridges: According to the market intelligence firm, African startups raised $5.4
It raised $850,000 seed in October 2020. In addition to Tunisia, GOMYCODE is present in Bahrain, Morocco, Egypt, Algeria, Ivory Coast, Senegal and Nigeria. AfricInvest, through its Cathay AfricInvest Innovation Fund (CAIF) and French-based development finance institution Proparco, co-led the early-growth round.
They include Algeria, Botswana, Egypt, Kenya, Lesotho, Malawi, Mauritius, Morocco, Mozambique, Senegal, Seychelles and South Africa. Like when its partnership with Worldpay FIS coincided with its Series B funding, this announcement is also coming on the back of a raise.
The study analyzed a collection of contact tracing apps, which are designed to inform and monitor physical contact between people in the event someone contracts COVID-19, from 11 countries: Algeria, Bahrain, France, Iceland, Israel, Kuwait, Lebanon, Norway, Qatar, Tunisia, and United Arab Emirates.
After an initial success helping Groupon scale internationally via a merger with Rocket’s incubation firm CityDeal, Rocket’s team have aggressively scaled businesses from Algeria to Zimbabwe — sometimes in a matter of weeks. No surprise, Rocket also has a graveyard of failed companies that were victims of bad internationalization efforts.
The second is that companies YC backed four to five years ago, after raising a series of venture capital rounds, are now commanding huge valuations that they didn’t have in 2018. According to her, when one or two YC-backed companies in a region begin to scale while raising huge amounts of capital, it inspires other founders to apply to YC.
Yassir , an African super app platform that offers on-demand services such as ride-hailing, food and grocery delivery, and payments, has raised $150 million in Series B funding, five times what it raised in its previous priced round last November. . The African startup, first launched in Algeria, has now raised $193.25
Last month, MaxAB, the Egyptian B2B e-commerce platform that serves food and grocery retailers, raised one of the largest Series A on the continent , to the tune of $40 million. The company subsequently raised a $3 million seed round. MaxAB, the Egyptian B2B food and grocery delivery startup, raises $40M for expansion.
Gozem , a super app that provides a host of services — including transport, e-commerce and financial services in Francophone Africa — has raised $5 million in Series A financing, the company confirmed to TechCrunch. It follows the $7 million raised in previous seed rounds via three tranches from investors such as U.S.
” Using a webinar and conference call platform, we were able to bring in participants from San Francisco, Rwanda, Kenya, Algeria, Tunisia, and Egypt. I organized and moderated a panel called “ Women Who Tech Globally.” Unfortunately, our presenter from Lebanon had connectivity issues and was unable to present.
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