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Today, a new activity takes us to Morocco, where YC-backed company Chari just raised a $5 million seed round at a valuation of $70million. Rocket Internet, Global Founders Capital and P1 Ventures co-led the round, which is the largest of its kind in Morocco at the moment. “The more we grow, the more we have funding.
In the latest development, Curacel , a Nigeria-based platform that aims to drive insurance penetration in emerging markets via APIs enabling insurers to connect with digital distribution channels and administer their claims, has raised $3 million in seed funding.
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. Did African startups raise $496M, $1B or $2B in 2019? Fintech startups raised 24.9% billion and $1.8
Terraa , a Moroccan B2B tech-enabled food distribution platform, has raised $1.5 million pre-seed funding in a round led by FoodLabs, a European early-stage VC investor and venture studio for food, sustainability and health. In the next few months, we will build some collection centers in all the major agricultural cities of Morocco.
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 startup is announcing the acquisition of Morocco-based B2B e-commerce and distribution platform WaystoCap for an undisclosed amount.
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. Africa predicted to experience sustained funding slowdown in 2023 Most tech observers share Cuvelier’s thoughts on VC activity in Africa.
million funding it has just secured. Mylerz growth funding round was led by Lorax Capital Partners, an Egypt-based private equity firm with participation from Fawry, one of the biggest e-payment companies in Egypt. Egyptian fintech Paymob raises $50M led by PayPal Ventures and Kora Capital.
Like many startups playing in the B2B e-commerce space across the continent, Chari digitizes the largely fragmented FMCG sector in Morocco and Tunisia. Chari, a Moroccan startup digitizing mom and pop stores, raises $5M at $70M valuation. The Khatabook-esque platform provides credit and bookkeeping services to about 50,000 merchants.
Last year, MaxAB , the food and grocery B2B e-commerce and distribution platform serving a network of traditional retailers across Egypt and Morocco, raised its $55 million Series A in two tranches ; the latter accompanied its acquisition of the Morocco-based and YC-backed WaysToCap. million orders within this timeframe.
African startups nearly raised $1.5 Predictions were made on how much the continent’s startups would raise in December. 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.
TrovaTrip , a travel planning and booking platform that lets creators host adventures with their communities, has raised $15 million in Series A funding led by Madrona. The platform includes bookable experiences like hiking in Patagonia, sourcing textiles in Morocco, practicing yoga in Bali and more.
AfricInvest, through its Cathay AfricInvest Innovation Fund (CAIF) and French-based development finance institution Proparco, co-led the early-growth round. 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.
Chari offers an identical offering in Morocco. B2B e-commerce platform Chari is acquiring the credit line of Axa Assurance in Morocco for $22M. Sokowatch rebrands to Wasoko as it raises $125M Series B from Tiger Global and Avenir.
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
In its expansion phase, backed by a $3 million pre-seed funding, the startup looks to tap some of the biggest distributors and e-commerce players in Ghana, and later Nigeria, to grow beyond Kenya, Tanzania, Uganda, Zambia and Zimbabwe. Morocco’s Freterium grabs $4M to scale its freight trucking software across MENA.
In one development of that theme, today, Taptap Send — one of the startups building tools to manage these money transfers — is announcing $65 million in growth funding as it continues its mission to enable remittances specifically to the most overlooked countries.
Jambo , a Congo-based startup building Africa’s web3 user acquisition portal through “learn, play, earn” and democratizing access to crypto-based income-generation opportunities, has raised $7.5 million in seed funding. Nestcoin raises $6.45M pre-seed to accelerate crypto and web3 adoption in Africa and frontier markets.
Per reports , major regional exchanges in Africa have raised over $80 billion in equity capital markets and $240 billion in debt capital markets. The platform, which will allow broker-dealers, asset managers, pension funds, and institutional investors to access markets outside their own country, is announcing its launch to the public today.
They include Algeria, Botswana, Egypt, Kenya, Lesotho, Malawi, Mauritius, Morocco, Mozambique, Senegal, Seychelles and South Africa. Next , they request the funds via bank transfer, leading to more incurred costs or use other cross-border money platforms like WorldRemit.
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.
The automotive marketplace, which allows customers to sell and buy used cars, has raised a pre-seed round of $12.6 Autochek expands to North Africa after acquiring Morocco’s Kifal Auto. Cairo-based Sylndr is a new player in a market where unorganized dealers and classifieds dominate the sales volume.
Autochek expands to North Africa after acquiring Morocco’s Kifal Auto. Autochek was previously present in Nigeria, Ghana, Kenya, Ivory Coast, Uganda and Morocco. The company, which in October last year raised $13.1 CoinAfrique classifieds ads marketplace is active in 12 Francophone markets.
Appetito , the Egyptian platform that delivers groceries and household products to customers from 11 dark stores across three cities in the North African country, is acquiring Lamma , an identical startup with operations in the Maghreb regions of Tunisia and Morocco. . The deal is expected to close by the end of Q3 2022.
A true public/private partnership, the funding partners include Microsoft and craiglist Charitable Fund. The Morocco Team discussed how Youth Without Borders is a networked network and the Yemen Team pointed out how the Youth Leadership Development Foundation is one as well. lack of time and not seeing the value of social media.
Freterium , a startup based in Morocco, is one such company providing this software, and it has raised $4 million in seed to scale across the country and into surrounding regions. . CDG Invest, Y Combinator, Flexport, Swiss Founders Fund, Outlierz Ventures, and a few angel investors from the U.S.,
Nigeria’s YC-backed Remedial Health raises $4.4M seed funding. As the adoption of telehealth continues, Ponea targets to grow its customer base by 500,000 in the next three years, and establish a presence in four other markets including South Africa, Nigeria, Egypt and Morocco. “We To date, Ponea has attracted $4.3
African fintech Flutterwave has raised $250 million in a Series D round that tripled the company’s valuation to over $3 billion in just twelve months. In March 2021, the San Francisco-headquartered and Lagos-based startup raised $170 million in a Series C round from Tiger Global and Avenir at a valuation of $1 billion.
Publicly, Fenix has only raised $5 million, most, if not all, of which probably went toward the company’s purchase of Turkish e-scooter operator Palm. Dhanoa says Fenix has raised more money that it hasn’t yet announced to help it scale and expand.
Namibian business-to-business e-commerce startup JABU confirmed to TechCrunch that it has raised a $3.2 One of the earliest in the space, Nigerian B2B e-commerce platform TradeDepot , raised a combined $110 million in debt and equity. million financing round. JABU shines a light on the Southern Africa region.
Silent auctions have proven to be powerful tools for raising vital funds and rallying your supporters, but these fundraising events aren’t just about generating revenue. For nonprofits, galas and silent auctions can raise significant funds while cultivating relationships with people who truly support your cause.
E-Mediat is funded by the Middle East Partnership Initiative (MEPI) of the United States Department of State with support and in-kind donations from Microsoft, Cisco and craigslist Charitable Fund. E-Mediat is working with more than 220 NGOs in Jordan, Lebanon, Morocco, Tunisia, and Yemen. Rami Al-Karmi, N2V Lab.
” The conference marked the end of an 18-month capacity building program that trained more than 220 NGOs in Jordan, Lebanon, Morocco and Tunisia on how to use social media effectively to advance civil society. Organizations raised almost $125,000 through integrated social media campaigns from donors.
Kavita Ramdas, President and CEO, Global Fund for Women. Kavita Ramdas is the President and CEO of the nonprofit, the Global Fund for Women. I think it's worth it (: Kavita Ramdas: The Global Fund for Women is the largest independent, publicly supported grant-making foundation to advance women's human rights internationally.
Since its launch in 2018, Carry1st, a publisher of social games and interactive content across Africa, has raisedfunding from investors such as Google via its Africa Investment Fund and Avenir Growth Capital. We now have, in our minds, the three best funds that focus on gaming and web3. 1 downloaded game in the U.S.
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