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

TechCrunch

Savannah Fund , a pan-African venture capital firm, today announced a $25 million fund as it looks to back more early-stage startups on the continent. Since launching in 2012, Savannah Fund — led by Mbwana Alliy and Paul Bragiel — has backed more than 30 startups. Mbwana Ally (Managing Partner, Savannah Fund).

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South Africa’s Flow gets funding to automate social media advertising for real estate agencies

TechCrunch

million in pre-Series A funding. Flow intends to use the funding to include other social media platforms such as TikTok and LinkedIn and other advertising channels like digital out-of-home billboards. So more broadly, Flow is used by nearly 6,000 agents across South Africa, Namibia, Botswana, Mauritius and Australia.

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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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How African startups raised investments in 2020

TechCrunch

To understand how much growth has occurred, African startups raised a meagre $400 million in 2015 compared to the $2 billion that came into the continent in 2019, according to Africa-focused fund Partech Africa. Investments did pick up, and from July, VC funding on the continent had a bullish run until December. billion and $1.8

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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. Trade has the least startup activity in a market that received $5 billion in VC funding last year.

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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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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. . Being entrepreneurs in the past, some of these investors know what it takes to build a startup in the U.S.

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