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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

The process used by millions of agents and thousands of property portals globally to reach buyers and sellers on digital channels is highly fragmented. million in pre-Series A funding. So more broadly, Flow is used by nearly 6,000 agents across South Africa, Namibia, Botswana, Mauritius and Australia.

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

TechCrunch

Microtraction , an early-stage venture capital firm based in Lagos, Nigeria, saw funding nearly quadruple for its portfolio. In a review of the year published last week, the firm noted that 21 companies in its portfolio have raised more than $33 million in funding. But it’s completely different in Africa.

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

TechCrunch

That might be a thing of the past for some businesses as African payments company Flutterwave today is announcing a collaboration with PayPal to allow PayPal customers globally to pay African merchants through its ‘Pay with PayPal’ feature. Going by this partnership, we can expect the majority of them to be global plays.

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

TechCrunch

Trade has the least startup activity in a market that received $5 billion in VC funding last year. “Providing a framework where people can operate and scale their solutions to several markets at once is incredibly important,” said Onayemi, who also co-founded Future Africa, an Africa-focused VC fund.

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

TechCrunch

Mauritius and U.K.-based based investment company Juven went live today with plans to fund growth-stage technology and consumer companies in Africa. Such methods allow for making multiple investments without raising multiple funds. This way, when an investment is monetized , the capital comes back and Juven redeploys it.

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