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

TechCrunch

Michael Seibel , the CEO of Y Combinator, is a global advisor and an investor in the firm, and so is Andy Volk , the head of ecosystem for Google Sub-Saharan Africa. Microtraction revealed that it accepted over 500 applications from startups in Nigeria, Ghana, Zambia, and Mauritius in its first full year of operation.

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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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How African startups raised investments in 2020

TechCrunch

“When these companies evolve to go global, we still count them as African companies.” Mauritius-headquartered companies received $110 million while African startups headquartered in the U.K. ” Briter Bridges has a similar methodology. This premise slightly altered the Big Four’s positions. and Kenya raised $107.6

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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. So more broadly, Flow is used by nearly 6,000 agents across South Africa, Namibia, Botswana, Mauritius and Australia. Does everyone want to be a landlord, or what?

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

TechCrunch

These countries include Nigeria, Kenya, Ghana, South Africa, Rwanda, Senegal, Togo, Tanzania, Ivory Coast, Egypt, Mauritius and Burkina Faso. This incorporation-as-a-service plugin positions Norebase as a global player in the trade tech space. It’s one of the few companies offering such services, including Firstbase.

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

TechCrunch

Mauritius and U.K.-based Even though the team that led Goldman Sachs’ investments in Africa is now at Juven, Frebault says the 152-year-old investment giant’s Asset Management division still has a global mandate that includes Africa, albeit focusing on a larger scale and institutional activity.

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

TechCrunch

This is the second fund for the nine-year-old Mauritius-headquartered investment firm. The managing partner says Savannah is big on startups that can scale across regions in Africa — Rwanda, Ethiopia, Uganda in East Africa; Ivory Coast and Ghana in West Africa; and globally.

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