TechCrunch

MARCH 1, 2022

The company, which enables underbanked customers in select African markets to access a broad range of products and services without collateral or a guarantor, announced today that it has raised $75 million. Ex-SafeBoda executive Babajide Duroshola joins M-KOPA to lead expansion into Nigeria.

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TechCrunch

MARCH 30, 2022

The country has posted steady progress in the last three years as the leading African startup market. In 2019, startups based in Nigeria attracted $747 million, or 37% of Africa’s total VC investment. YC W22 batch nets 24 African startups, including 18 from Nigeria. Y Combinator is paying attention.

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TechCrunch

MAY 5, 2022

Rali_cap , an early-stage venture capital firm focused on emerging markets fintech, has launched a $30 million fund. Last month, the firm, formerly known as Rally Cap Ventures, reached its first close of $20 million (its initial target) before increasing the fund size, signaling a strong LP appetite.

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TechCrunch

FEBRUARY 14, 2022

Remedial Health has secured $1 million in pre-seed funding to digitize pharmacies and stem the supply of fake and substandard pharmaceutical products, starting with Nigeria before expanding to the rest of Africa. Part of the new funding will be used to extend the startup’s buy now, pay later (BNPL) offering, for an even wider reach.

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TechCrunch

JULY 6, 2021

However , some venture firms have taken this up a notch by bringing founders to create a fund and invest together. Since the firm’s first fund launched in 2017, MAGIC has invested in 70 companies at pre-seed and seed stages across these emerging markets. MAGIC Fund has 12 founders who act as general partners.

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TechCrunch

APRIL 5, 2022

The number of POS terminals in Nigeria grew from 150,000 in 2017 to 543,000 in April 2021, according to Statista. In Nigeria, POS terminals are used to process card payments at retail locations as well as for agency banking purposes, a branchless banking system where agents act like human ATMs.

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TechCrunch

JANUARY 26, 2022

Husk Power Systems , a clean energy company that has been at the forefront of fueling rural electrification since 2008, is planning to launch 500 solar mini-grids in Nigeria over the next five years. In November last year, Husk launched its first six mini-grids in Nigeria, and is looking to have 100 operational within two years.

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TechCrunch

JULY 25, 2022

Now it’s set a goal of investing in 100 more startups with the launch of its second emerging market seed-stage fund, called Seedstars International Ventures II (SIV), with a first close of $20 million. One difference between SIV II and the first fund is that it can writer bigger checks.

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TechCrunch

SEPTEMBER 12, 2022

Kippa said the investment will allow it to develop financial products that help SMEs grow their businesses and grow its team in Nigeria. As such, startups have launched various bookkeeping solutions to digitize operations of these small businesses in a traditional retail sector worth more than $200 billion alone in Nigeria.

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TechCrunch

AUGUST 20, 2021

The process of digitizing the operations of mom and pop stores in Nigeria is serious business right now. Today’s news is from Alerzo , a little-known B2B e-commerce retail startup based in Ibadan, Nigeria. In fact, it might be the second-best thing after fintech at the moment. The company is announcing a $10.5

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TechCrunch

FEBRUARY 9, 2022

Nigeria has more than 12 million registered vehicles , and approximately 90% of them are used cars that need frequent checkups to prevent recurring breakdowns. Given this number, one would expect effective vehicle maintenance to be standard in Nigeria. million seed round. .

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TechCrunch

SEPTEMBER 23, 2021

Millions of people in sub-Saharan Africa and emerging markets continue to live without access to electricity. Zola Electric , one such provider, is announcing today that it has closed $90 million in new funding to enter new markets and drive distributed renewable energy. The company has evolved since then. “More than 2.2

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TechCrunch

FEBRUARY 16, 2022

Nigeria has an average of 4.8 The company said it will use part of the capital to expand its team, geographical operations and marketing to increase its 7,000-strong active agent network three-fold this year. bank branches and 19 ATMs per 100,000 adults, compared to the world average of 13 bank branches and 40 ATMs.

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TechCrunch

FEBRUARY 7, 2022

Reports say healthtech in Africa should reach a market value of over US$11 billion by 2025 and Reliance Health is looking to play a pivotal role in the continent reaching that capitalization. So essentially what we’re trying to do is to use technology to make quality health care accessible and affordable in emerging markets.”.

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TechCrunch

DECEMBER 12, 2022

million in “expansion” funding from Aruwa Capital, a Nigeria-based early-stage growth equity and gender-lens fund. . However, because it serves an entirely different market , Taeillo has had to be authentic with its product offerings by infusing cultural elements (it refers to them as Afrocentric furniture). .

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TechCrunch

JULY 26, 2021

Olumide Soyombo is one of the well-known active angel investors in Nigeria tech startups and Africa at large. Voltron will be deploying capital to roughly 30 startups, mostly in pre-seed and seed-stage across Africa, in a bid to “address the severe lack of access to early-stage funding for African tech companies.”

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TechCrunch

MAY 4, 2022

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. Trade has the least startup activity in a market that received $5 billion in VC funding last year. The continent is also home to more than 1.2

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TechCrunch

NOVEMBER 16, 2021

Shared transportation in Nigeria, Africa’s largest country by population, is a thriving business, at least when done the conventional way: offline. With millions of Nigerians using danfo minibuses and okadas to commute to their various workplaces and destinations, mobility startups have sought to digitize the market.

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TechCrunch

NOVEMBER 15, 2021

Africa Health Holdings , a healthcare startup running several hospitals, has secured $18 million in a Series A round, funds that will go toward building its “tech-forward healthcare system” across Ghana, Kenya and Nigeria. Valiant Capital, Kepple Ventures and SUNU Capital. Valiant Capital, Kepple Ventures and SUNU Capital.

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TechCrunch

JANUARY 12, 2022

SeamlessHR , a Nigeria-based company that wants to help African businesses “leverage the continent’s greatest asset: abundant human capital” with its cloud-based human resources (HR) and payroll software, has raised $10 million in Series A funding for its next phase of growth and regional expansion. billion in 2026 from $14.2

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TechCrunch

MARCH 10, 2021

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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TechCrunch

MARCH 17, 2022

However, for all their effort and importance to the tech ecosystem, raising significant venture capital seemed elusive to startups in Africa’s digital media landscape that rely on grants and personal funding to scale. million in seed funding to expand its audience and build new verticals. market of the mid-2010s.

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TechCrunch

MAY 26, 2021

The fundraising is coming two years after OPay announced two funding rounds in 2019 — $50 million in June and $120 million Series B in November. OPay also claims to process about 80% of bank transfers among mobile money operators in Nigeria and 20% of the country’s non-merchant point of sales transactions.

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TechCrunch

NOVEMBER 3, 2021

Nigeria’s lending startup Payhippo has raised $3 million in a seed round, funding the company plans to use in sourcing the talent needed to optimize its technology as it ramps up effort to extend speedy credit to more small and medium-sized enterprises (SMEs) in the West African country. . Others include Carbon and FairMoney.

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TechCrunch

FEBRUARY 11, 2021

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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TechCrunch

MARCH 28, 2023

Fez Delivery , a Lagos-based last-mile logistics startup with hubs across Nigeria, has raised $1 million led by pan-African investor Ventures Platform with participation from Voltron Capital, Acasia Ventures and other angel investors.

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TechCrunch

NOVEMBER 12, 2021

The global venture capital market is increasingly active , but few locales are seeing the sort of investment acceleration that African startups are enjoying this year. The Exchange explores startups, markets and money. Any heating market won’t warm evenly, and the African startup scene is no exception to the rule.

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TechCrunch

MAY 2, 2022

The Sydney-based company creates hardware and software solutions designed to bring solar-based power to developing markets. At present, it’s currently focused on Nigeria, Philippines, Haiti and Cambodia, with a renewal bent designed to reduce emissions as it brings more populations online. Headcount will increase as well.

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TechCrunch

MARCH 22, 2021

to reach a relative in Nigeria. Ben Eluan and Osezele Orukpe , two software engineers based in Nigeria, faced this problem in 2019. Pioneer gives founders access to funding streams and talent hardly found outside Silicon Valley. For instance, it takes days or weeks for money sent from an immigrant in the U.S.

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TechCrunch

APRIL 13, 2022

There’s no shortage of digital banks in Nigeria and, in general, in Africa. As the region continues to experience rapid growth in mobile usage and the corresponding growing young population, these fintechs think this is the right time to provide financial services to every market category, from the banked to the unbanked.

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TechCrunch

AUGUST 31, 2022

trillion B2B payments market in sub-Saharan Africa is one where merchants commonly use manual invoices and inefficient processes that burden merchants and make them struggle with their businesses. million in seed funding. million in seed funding. pre-seed to build financial OS for B2B companies in Nigeria.

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TechCrunch

JANUARY 25, 2021

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. Though, just eight of those companies got investments.

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TechCrunch

DECEMBER 8, 2021

Bento , Nigeria’s digital payroll and human resource management platform is expanding to Ghana, Kenya and Rwanda with plans to set up operations in six other markets in Africa over the next one year. Workpay, a Y Combinator startup, is among the 50 enterprises in Africa that received equity-free funding and support from Google.

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TechCrunch

DECEMBER 30, 2021

Stephen Deng, the co-founder and partner of DFS Lab, a firm that invests in digital commerce startups, serially compared the 2016 Southeast Asia funding landscape to where Africa might be in 2021, at $3 billion. What’s a record year of funding without some unicorns? billion and $2.8 These predictions weren’t entirely off the mark.

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TechCrunch

JANUARY 28, 2021

Catalyst Fund , a global accelerator managed by BFA Global , announced the 8th cohort for its Inclusive Fintech Program today. With a focus on Kenya, Nigeria, South Africa, Mexico and India, selected startups receive £80,000 (~$100,000) in grant capital, six months of support and connections with follow-on investors.

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TechCrunch

FEBRUARY 14, 2023

The burgeoning market is indicative that insurtechs are actively providing various solutions to businesses and end consumers, helping them manage the risks of purchases ranging from buying cars to accessing accommodation. The distribution business is essentially its embedded insurance product Grow.

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TechCrunch

MARCH 18, 2021

Today, one of the trailblazers in this area, Kuda Technologies , is announcing funding to continue building out its specific ambition: to provide a modern banking service for Africans and the African diaspora, or as co-founder and CEO Babs Ogundeyi describes them, “every African on the planet, wherever you are in the world.”

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