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In Uganda’s Mbale district, famous for its production of arabica coffee , a plague of plastic bags locally known as buveera is creeping beyond the city. But the agriculture industry itself only accounts for a little over 3% of all plastics used globally. They show up in layers of excavated dirt roads and clog waterways.
Uganda is one of the countries creating ripples in high-profile tech programs like the Y Combinator accelerator and Google’s $50 million Africa Investment Fund, launched in October last year targeting early and growth-stage startups. Another startup, Ensibuuko , raised $1 million in seed funding last year from FCA Investments.
It has been a hot sector for investors, and today’s news shows they aren’t slowing down in backing these startups just yet as Sokowatch , one of the major players in the space, announced that it has raised $125 million in Series B funding. But we’ve been able to do that on our own without raising any kind of separate debt facilities.
Abraaj bought Vine Pharmacy in 2013 when it was the largest pharmacy chain in Uganda. Vine used to be the biggest pharmacy chain in Uganda. Rockson said that he hopes to take Vine Pharmacy to its former glory, when it held the position of the biggest retail pharmacy chain in Uganda. s development finance institution, last year.
Collectively , they have raised over $100 million in venture capital. Now, it offers rides, parcel delivery, food and shop, payments, savings and other financial services to over 1 million customers in Uganda and its second market, Nigeria. The motorcycle ride-hailing wars in Nigeria and Uganda are SafeBoda’s to lose.
Per Crunchbase , Twiga has raised over $100 million in both debt and equity financing rounds. Kenya’s Twiga Foods eyes West Africa after $30M raise led by Goldman. First-time investors OP Finnfund Global and Endeavor Catalyst Fund participated as well. “We million equity and $6.25 million debt — in 2019.
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.
Andela has been pivotal to placing the continent’s tech talent globally. 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. Nigeria’s Decagon raises millions to finance and train software engineers.
Today, it is doubling down on this effort by announcing the global expansion of its engineering talent. 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. Then it became living in Nigeria. Then Kenya.
9) Global Goods Partners :: globalgoodspartners.org. Global Goods Partners have partnered with over 60 artisan groups in more than 20 countries throughout Asia, Africa, and the Americas to help bring to market the fair trade, handcrafted products they produce. To date, ONEHOPE Wine has raised nearly $5 million for nonprofits worldwide.
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. to East African countries (Kenya, Uganda and Tanzania), thus ushering the Tanzanian fintech into the remittance business. and the E.U.,
You can count on one hand the number of funds bigger than Tiger Global. Last year, the New York-based firm, known for its famous bets on Stripe, JD.com, Meituan and Roblox, raised $6.7 In the aughts, Tiger Global participated in just 30 deals, according to The Generalist , a newsletter on topics around tech and crypto.
Catherine Bashiama runs her fingers along the branches of the coffee tree she’s raised from a seedling, searching anxiously for its first fruit buds since she planted it three years ago. Yet it comprises less than 1% of the global market, well behind the arabica and robusta species that are the most consumed coffees in the world.
Silicon-Valley based VC firm 500 Global and German’s economic development agency Gesellschaft fu?r 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.
Impact investor Goodwell Investments and Oxfam Novib , a Dutch foundation and Oxfam International affiliate, have set up Pepea, a €20 million ($21.7m) fund, to provide financing to early-stage startups in Kenya, Uganda, and Ethiopia.
a banking-as-a-service (BaaS) platform that aims to build “DeFi for traditional finance,” has raised $16 million in a Series A round of funding led by CM Ventures. Solarisbank raises $224M at a $1.65B valuation to acquire Contis, expand API-based embedded banking tech in Europe. Productfy Inc. , billion valuation.
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 digital banking space in Africa is taking shape as neobanks on the continent grow in numbers like their global counterparts. Finclusion Group , a fintech that uses AI algorithms to provide financial services to African customers via an array of credit-centric products, has raised $20 million in debt and equity pre-Series A financing.
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.
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.
Two years ago, the African tech ecosystem saw newfound attention from global players that translated to the continent’s best year of receiving venture capital. 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
One of the largest solar companies in Africa and Asia, Sun King , has raised $260 million in series D funding to deliver off-grid energy technologies to more people across the two continents. It also has a presence in Zambia, Uganda, Tanzania and Nigeria, where it says its customers tripled over the last one year.
of Africans are insured , which is less than half the global average of 6.3%, making it the least insured continent in the world. It is used by over 100 companies, including banks, fintechs, logistics and e-commerce platforms across eight African markets: Nigeria, Ghana, Kenya, Uganda, Tanzania, Rwanda, Morocco and Egypt.
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.,
In the latest development, Grey , a fintech in this category that provides virtual international bank accounts to African freelancers and remote workers, is announcing that it has raised $2 million in seed funding. Last year, the startup raised an undisclosed pre-seed investment and got accepted into YC’s winter batch this March.
And according to a new report from Salient Advisory, a global healthcare consulting firm, this is the segment where the most impressive growth has occurred for Africa’s healthcare in the last 12 months. Salient surveyed over 80 companies across Ghana, Kenya, Nigeria, and Uganda, 25% more than the number it tracked in its last report in 2021.
African startups join global funding boom as fintech shines. An interesting instance would be freelancers in Ivory Coast trying to receive payment for services on a global payments platform. This alternative financial infrastructure is one of the largest globally. He also sits on the board of 88mph.
Driven by a viable business model, the startup, which also has operations in Uganda and Nigeria, has entered its growth phase and is eyeing more partnerships in a bid to drive mass market insurance adoption in Africa. Kenyan insurtech Lami raises $3.7M seed extension led by Harlem Capital.
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.
In the latest development, Umba , a digital banking platform operating in Lagos, Nigeria, has raised $15 million in Series A funding. The news comes almost two years since the fintech raised a seed round of $2 million. The fintech has raised a total of $17.5 million to date. Umba has been in operation for about two years now.
As many edtech companies benefited from the disruption of the pandemic, attracting wads of cash from investors globally, it did feel like African startups were left out. The investment, which comes 11 months after uLesson raised a $7.5 African edtech startup uLesson lands a $7.5 million Series A.
The company confirmed to TechCrunch that it has raised $100 million in Series C financing — split between $70 million equity and $30 million debt. He started the company in 2009, facilitating peer-to-peer transactions from Kenya to Zambia, Uganda, Zimbabwe and the Ivory Coast, and vice versa. That’s the grand mission of the company.”
Kenya-based fintech company 4G Capital , which provides unsecured credit to micro enterprises, has raised $18.5 million in Series C funding from global private equity firm Lightrock. 4G Capital offers short-term loans to micro-businesses in Kenya and Uganda, who are often locked out by formal banking institutions.
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. This investment is AMEX Ventures’ first in an African startup. KlashaCart.
JUMO , a South Africa- and London-based company that offers financial services to entrepreneurs and businesses in emerging markets, has raised $120 million in a new round of funding led by Fidelity Management & Research Company. It is also coming a year after raising $55 million in a similar unnamed financing round.
Masa Finance , a hybrid credit protocol and decentralized credit bureau founded by Pngme CEO Brendan Playford in late 2020, has raised $3.5 ” Before starting Pngme, an open finance startup that has raised over $18 million in VC funding, Playford actively worked in the blockchain and crypto space for almost a decade.
Moove , an African mobility fintech that provides vehicle financing to drivers of ride-hailing platforms like Uber and other gig networks, has raised $105 million in new Series A2 financing. Moove raises $23M to create flexible options for drivers to own cars in Africa. Moove’s total funding is $174.5 million in debt and equity.
The growth plan comes against the backdrop of $1 million seed funding it has raised in round led by GIIG Africa Fund, with participation from Japanese-based Samurai VC, a family office, and existing investors. This brings total amount raised by the startup, which received its pre-seed funding last year, to $1.3
What’s the point in using “global” tools (social media) for local organizing? From @amoration: I find we’re always both global & local, so many of us travel frequently that virtual organizing tools are essential even for “local&# endeavors. Social media used to engage local supporters to act globally.
On International Human Rights Day, we pay tribute to all human rights defenders, celebrate the recent victories of the human rights community, and recognize the challenges that still lie ahead in the global struggle to advance justice, accountability and an end to impunity. 2011 has been an amazing year for human rights defenders.
The investment comes in the wake of a bigger round that the startup raised in the summer of 2022, a $20 million Series A from MonotaRo and JAFCO. Spain, Kenya, Uganda, Dubai, India, Thailand, Vietnam, the Philippines, Malaysia and Australia, have been using KANNA since its initial product launch 2020, the company said.
It did this in Kenya, Nigeria, Rwanda and Uganda. However this time around it did so with a strategy pivot in mind: after testing satellite models in Egypt and Ghana, the talent company decided to go forego physical hubs completely and go remote, f irst across Africa in 2020 and globally this year. “We In 2012, Toptal raised a $1.4
In February, London-listed telecom, Airtel Africa , said it was looking to sell a minority stake in its mobile money business in a bid to raise cash and sell off some assets. The investment will see the mobile money business — Airtel Mobile Commerce BV (AMC BV) — valued at $2.65
Nigeria’s YC-backed Remedial Health raises $4.4M We look at strategic engagement by allowing API integration at a global level,” said Macharia. Uganda’s Rocket Health raises $5M to scale telemedicine across Africa. CarePoint raises $10M to spread healthcare tech across Africa. seed funding.
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