This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
The venture capital scene in Africa has consistently grown, with an influx of capital from local and international investors reaching unprecedented heights in recent years. Did African startups raise $496M, $1B or $2B in 2019? Fintech startups raised 24.9% Funding raised by Kenyan startups reached $191.4 million.
AltSchool, which is now Altitude Learning) has raised $1 million in pre-seed funding to scale its efforts, said chief executive Adewale Yusuf to TechCrunch. In 2020, Yusuf toyed with the idea of building a physical campus where he and his team would train software engineers to get international opportunities.
The company’s numbers are small compared to other layoffs that have taken place within Africa’s tech ecosystem over the past few months, especially among startups that have raised vast sums of venture capital within the last year or two; for instance, Swvl laid off 400; Wave , approximately 300; 54gene , 95; and Vezeeta , 50.
But similarly to years past, the total amount raised by African startups varies among different reports. We first emphasized this issue in a 2019 piece: Did African startups raise $496M, $1B or $2B in 2019? How many deals and how much did African startups raise? Briter Bridges : African startups raised $4.9 billion to $1.5
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
The fintech’s new growth strategy follows its plan to power its embedded finance offering beyond its current markets, including Uganda and Ghana, to bridge the financing gap affecting millions of micro, small medium-sized enterprises (MSMEs) across these markets. Image Credits: Pezesha.
NALA , a Tanzanian cross-border payments company that recently pivoted from local to international money transfers, said Thursday it has raised $10 million in a new fundraising round. But in 2020, NALA started testing international money transfers after some users expressed interest in moving money from the U.K. and the E.U.,
African merchants encounter many challenges when it comes to international shipping ranging from logistics and customs to hidden and excessive charges. Recent YC graduate Topship is one such startup and it has raised a $2.5 Digital freight forwarders on the continent have grown to tackle these supply chain issues. ” .
They were holding an international meeting of blindness groups around the campaign to ratify the Marrakesh Treaty in London during the days before the Geneva meeting. My experience with the international publishers was such that I expected there would be a way to work through this issue. I decided to follow through and attend.
The company claims to be handling over 10 million transactions on its rails per week, with beta operations in 10 African countries — Cameroon, DRC, Ghana, Kenya, Mozambique, Nigeria, Rwanda, Tanzania, Uganda, and Zambia. He also sits on the board of 88mph. African startups join global funding boom as fintech shines.
Earnipay , a fintech that provides flexible and on-demand salary access to income-earners, has raised $4 million in seed financing led by early-stage venture capital firm Canaan. A few individual businesses have sought to tackle this problem internally and allow employees to access their daily salaries as they work for it.
Within this timeline, he interned at several companies in Palo Alto, California. It raised $850,000 seed in October 2020. The startup hopes that the Series A funding will drive its presence in 12 countries, including South Africa, Kenya, Ghana and Saudi Arabia. Yahya Bouhlel started coding in his early teens.
based company that connects consumer goods brands to thousands of retailers and help out with distribution, has raised $110 million in new equity and debt funding round as it looks to bring in more retail stores and expand its buy now, pay later service across the continent. TradeDepot , a Nigeria- and U.S.-based
Last March, the Ghana-founded and New York–headquartered Dash raised $32.8 Before raising over $30 million, Dash initially wanted to raise a quarter of that money, about $8 million, as its seed round. Ghanaian fintech Dash raises $32.8M Kinyua assumes the role of interim CEO.
But two months into 2020, the pandemic did an excellent job of lowering expectations as investment activities from local and international investors slowed down. African startups nearly raised $1.5 Predictions were made on how much the continent’s startups would raise in December. It wasn’t a bad year, though. billion and $2.8
Why it matters: These departures have raised questions about Honor’s stability and decision-making capabilities, suggesting potential challenges or strategic shifts that could disrupt operations and hint at deeper internal issues. Li Jian joined Huawei in 2001 and became a member of the board of supervisors in 2017.
Jendaya , a one-year-old startup that acts as a gateway for global luxury brands to the African continent and for consumers in the rest of the world to discover African brands, is coming out stealth, having raised £1 million (~$1.2 Nigeria, Ghana, and the U.S., Ivorian e-commerce startup ANKA, formerly Afrikrea, raises $6.2M
The Society for International Development has done it again! Earlier this month, I attended their tremendous annual conference with notable and unforgettable speakers that make you leave the glimmering chandeliers in DC's Omni Shoreham ballroom thinking to yourself, what more needs to be done in international development?
Chipper Cash , an African cross-border payments company, has raised $150 million in a Series C extension round led by Sam Bankman-Fried’s cryptocurrency exchange platform FTX. Its services are used across seven African countries — Ghana, Uganda, Nigeria, Tanzania, Rwanda, South Africa and Kenya. In May, it expanded to the U.K.,
Kenya-based fintech company 4G Capital , which provides unsecured credit to micro enterprises, has raised $18.5 6 African women CEOs discuss how they raised more than $1M in 2021. International Development Finance Corporation, the Ford Foundation, Kenya’s Co-operative bank and high net-worth individuals.
Analysts say the value of e-commerce in Africa is expected to reach $29 billion next year, yet Africans still find it difficult to make international payments for products online. Today, it has raised $2.4 Next is its mobile application which lets users in Nigeria, Ghana or Kenya send and receive money. million in seed to scale.
Last November, the African cross-border payments company raised $150 million in a Series C extension round led by Sam Bankman-Fried’s now-defunct cryptocurrency exchange platform FTX. Since its inception, Chipper Cash has raised over $305 million from investors including Deciens Capital, Ribbit Capital and Bezos Expeditions.
Remittances from abroad reached $45 billion in 2021, with Nigeria, Ghana, Kenya, Senegal and Zimbabwe leading the list of recipient countries. Startups in Africa raised nearly $5 billion in funding last year but the amount remains meager when compared to the rest of the world. Reports say African startups raised record-smashing $4.3B
It has secured a first close led by International Finance Corporation (IFC) with participation from the Women’s Finance Initiative (WeFi). “We raised from some angel investors, high net worth individuals, so when we the official fund launched, we rolled these select companies into the fund,” Alliy said.
The startup has today announced entry of RejaReja, the B2B retail marketplace, into Ethiopia, Ghana, Tanzania, Rwanda and Uganda, after successful pilot programs, coming about two months after it grew beyond Kenya by launching in Nigeria. MarketForce recently raised $2 million in seed funding.
When a girl receives an education, she stays healthy, HIV negative, marries when she chooses, and raises a healthy family. From October 4-11, Tara is asking bloggers to raise awareness about The Girl Effect by writing about it on their blogs. You may have seen The Girl Effect videos. If you haven't, check them out at GirlEffect.org.
Victory Farms , an aquaculture startup and farm for tilapia fish comprising hatcheries, nursery ponds and deep-water cages, has raised $5 million in new funding. After completing his MBA program, he got to work on a three-month aquacultural project in Ghana, which ultimately led to a three-year role where he became CFO of an Accra-based farm.
Fifteen accelerators from key tech hubs, including Uganda, Egypt, Ghana, South Africa, Senegal, Nigeria, Ivory Coast, Kenya, Rwanda, and Tanzania will participate in the program. 500 Global’s take on the rising competition among startup accelerators.
The startup, which provides multiple products for the cross-border commerce space in Africa, raised this new financing from a group of international investors co-led by American Express (AMEX) Ventures, the strategic investment group of American Express. Lagos and San Francisco-based Klasha has received an additional $2.1
Kuda claims to have up to 5 million users, more than thrice the number it had last August during its $55 million Series B round , money it raised to enter into other African countries like Ghana and Uganda this year. Kuda, the African challenger bank, raises $55M at a $500M valuation. down the line.
When Andela launched in 2014, it built hubs in Nigeria, Kenya, Rwanda and Uganda to source, vet and train engineers to be part of remote teams for international companies. It also tested satellite models in Egypt and Ghana as substitutes to physical hubs. We did that and it’s been an amazing experiment,” Johnson added.
But despite my privilege, I’m also confident that my Black heritage made it more difficult for me to raise venture capital. Today — and the data proves this — if you are a white male, you have an unfair advantage when looking to raise venture capital. At the time, I didn’t even know that raising venture capital was a possibility.
These startups, mainly from Ghana, Kenya, Nigeria and South Africa, have collectively raised more than $7 million during and after the program. But though fintech has caught on well with both local and international investors, the same cannot be said for health tech and agritech. billion raised by African startups.
Tobias Eigen from Kabissa presented at the Web2fordev: Remixing the Web for International Development. A Few Self-Financed Learning Journeys Sam Mayfield has launched a new blog called Sam Land to raise money for and document his trip to Ghana in November. He also shares the key points of his presentation here.
million: we raised X which equaled Y and resulted in Z. Based in Bangladesh, BRAC is one of the largest international development organizations in the world, and their 2018 Annual Report uses innovative design elements to present their numerous programs and initiatives in an accessible way. International Rescue Committee.
Her data point, according to Crunchbase data, was that in the two weeks leading up to her post, a total of 51 fintech companies across the globe collectively had raised $1.1 That was down about 63% from the prior two-week period, during which 80 companies raised just shy of $3 billion. . fintech companies raised $2.76
This April, FTX announced a partnership with AZA Finance to roll out African and digital currency pairs and expand trading in nonfungible tokens (they managed to launch the fiat rails for Ghana and Senegal prior to FTX’s collapse). Fintechs like us that have boards with much information and oversight even find it hard to raise money.
It could take the form of revenue, or OKRs, or raising a healthy family, or committing to self-care. . The government of Ghana has doubled down on aligning with the SDGs and has produced incredible outputs and outcomes while bridging important partnerships with other countries and major global corporations.
An organization in London raised five times its original fundraising goal on a particular project. A nonprofit raises more than five times its original goal. . British children’s rights nonprofit AfriKids sent two of its staff members to a recent International Fundraising Congress in the Netherlands.
They clearly show how they raised X which equaled Y and resulted in Z. BRAC Based in Bangladesh, BRAC is one of the largest international development organizations in the world, and their 2018 Annual Report uses innovative design elements to present their numerous programs and initiatives in an accessible way.
Ghana’s Float initially launched as Brex for Africa but later pivoted to offering the same credit features with more emphasis on software and less on cards; Boya, on the other hand, plans to execute on both fronts using overdrafts. YC-backed Duplo raises $1.3M Location: Accra, Ghana. Unlike the U.S. Website : [link].
organization that fights for the rights of the world’s children, sent staff members to a recent International Fundraising Congress in the Netherlands. As a result, they funneled their learnings into a matching gift campaign and raised more than five times the campaign’s projected fundraising goal. . AfriKids , a U.K.
raised more money from venture capitalists in 2021 than ever. On the bright side, founding teams counting both women and men as members raised 17% of VC investments in Africa in 2021. Women-founded startups in Africa to have raised $100 million or more are led mainly by white CEOs. Women-founded companies in the U.S.
In the latest development, one such company, Bitmama , has raised a pre-seed extension of $1.65 and Nigeria-based company, which has built a distributed remote team across Nigeria, Ghana and Kenya, says it’s working to democratize Africa’s highly fragmented payment system by leveraging blockchain-based solutions. CEO Ruth Iselema.
We organize all of the trending information in your field so you don't have to. Join 12,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content