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Kenya-based fintech company 4G Capital , which provides unsecured credit to micro enterprises, has raised $18.5 Barrett launched 4G Capital in 2013 after a short stint as a loans manager based in Kenya for a lending corporation, an opportunity that saw him travel across Africa and gain insights on the continent’s lending space. “I
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. In its next phase of expansion, Bento is eyeing Egypt, South Africa, Uganda, Tanzania, Angola and Ethiopia by the end of next year.
Currently operating in Kenya and Nigeria, Umba offers a digital financial service alternative to legacy African banks. Right now it’s available in Kenya and Nigeria, which have a combined population of over a quarter of a billion people. It’s clear the African market is maturing and that we’re entering a very interesting phase.”.
Kenya has the largest and most thriving furniture industry in East Africa, but the sector’s potential is hindered by several challenges among them production inefficiencies and quality concerns, forcing most major retailers to settle on imports. The company is now eyeing its next phase of growth, following a $6.5 Digital-first brand.
Remittances from abroad reached $45 billion in 2021, with Nigeria, Ghana, Kenya, Senegal and Zimbabwe leading the list of recipient countries. And as annual inflows grow, Pangea’s country director and CEO for Kenya Anne Lawi told TechCrunch, diaspora remittances can be tapped to increase the amount of funding injected into startups. “And
The Kenyan startup has over the last three years been offering a lifeline to traders in Kenya by enabling them to make mobile money transactions that are devoid of transfer charges through its Leja app. Asilimia team in Nairobi, Kenya. Image Credits: Asilimia.
Kapu says it has 1,500 agent collection centers across Nairobi, and will, in its next phase of growth, work to fully penetrate Kenya’s capital before expanding to new markets. Kapu joins the growing list of startups that are digitizing the informal retail sector in Kenya, including Tushop, which launched last year.
In early 2008, villages and cities across Kenya were ravaged with violence following the disputed re-election of the sitting Kenyan president. The election controversy became the pretext for ethnic clashes that displaced hundreds of thousands of people and claimed the lives of more than 600, some in grisly fashion. Congratulations!
However, a change-point is in the offing as insurtechs like the Kenya-based insurtech Turaco introduce new technologies and products that are disrupting the market. Kenya’s MotiSure rides on micro-payments to drive personal mobility insurance growth. International startups shrug off US insurtech meltdown.
There, she started Kilimo Salama , as a micro-insurance program for more than 200,000 farmers in Kenya and Rwanda. They include Senegal, Ghana, Mali, Nigeria, Ethiopia, Madagascar, Tanzania, Kenya, Rwanda, Uganda, Zambia, Malawi and Mozambique. million farmers.
In 2014, Tala first launched its mobile application to offer credit and collateral-free loans to consumers in Kenya but has since expanded to the Philippines, Mexico and, more recently , India. Upstart and the Stellar Development Foundation (SDF), two investors in the round, are critical to this next phase of growth for Tala.
On the platform, Raise customers can also automate due diligence, set valuations, track employee stock vesting and make routine documentation for licenses and government documents in Nigeria and Kenya. . The next phase of growth, according to Coleby, will be onboarding Series A and growth-stage companies onto the platform.
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. We believe that the next phase of this evolution will be led by home-grown accelerators, like the ones joining BAM,” said Dieng.
In an email sent from Marketforce CEO Tesh Mbaabu and obtained by TechCrunch, the layoffs were a part of a reorganization strategy in Kenya, one of its five markets which include Nigeria, Rwanda, Uganda and Tanzania. . Kenya’s MarketForce raises $2M, plans to focus on its B2B retail marketplace RejaReja.
In 2015, founder and CEO Daniel Yu launched Sokowatch in Kenya as an asset-light platform and a marketplace for distributing fast-moving consumer goods from suppliers to retailers. And what started in Kenya soon scaled into neighboring East African markets Tanzania, Rwanda and Uganda in 2018.
The startup has now set out to activate more mutti pharmacies to widen its reach and to build out its tech-infrastructure as it readies itself for the next phase of growth after raising $35 million in Series D round. All these while increasing access and affordability to quality medication.
MarketForce , the retail B2B and end-to-end distribution platform founded in Kenya, has raised $40 million in Series A funding for its merchant inventory financing and expansion across Africa. This latest round (equal amount of debt and equity) brings the total funds raised by MarketForce to date to $42.5
Compelled to offer more value to startups, the co-founders launched Adanian Labs in Kenya, joining other players, like Nailab , in the space. Adanian Labs targets idea-phase tech startups, offering them all-round support including capital, advisory and operational backing; building them from the ground up. Image Credits: Adanian Labs.
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.
However , the new funding will allow the company to test this out as it prepares to launch in new markets, including Egypt, Ghana and Kenya, where mobile money is prominent. fintech with operations in Uganda, Rwanda, Mozambique, Tanzania and Kenya. O’Mahony, on the other hand , was the former head of operations for Tola Mobile, a U.K.
After spending some time in Kenya (where he was now used to paying via mobile money and rarely cash), he noticed that businesses relied heavily on manual bookkeeping and didn’t have software to record their cash and mobile money transactions. Gotter said the five-month-old startup is testing its platform with 30 merchants.
Futi said Orda has witnessed tremendous adoption among small restaurants in its two markets, Nigeria and Kenya, and claims the startup might have reached product-market fit already. “We’re seeing fast-paced growth in Nigeria and Kenya with a retention rate of above 95%,” Futi added. .
With this new fundraising, the company plans to tap into the wealth of experience from some of its new investors like Oviosu and Serunjogi who have also taken local companies into expansion phases. A notable example is Kenya’s Africa Talking.
We're still in the early stages of social media as in the early days of the web and online fundraising , so, we are in the "it's hype, and not going to last" phase. Some of the new tools now being launched to create a single profile that can be used across social networks will as analysts predict make social networks like air.
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.
BII will have offices in powerhouse markets like Nigeria, Egypt, and Kenya and offer equity and debt financing to projects in these countries. However, it becomes hard to ignore some of these businesses as they enter growth-stage phases and need more capital—most times beyond what venture capital firms can provide—to scale.
The initial investment phase will run for three years. Madica said it is also keen on reaching underserved markets in the continent, outside the well-established hubs of Egypt, Kenya, Nigeria, and South Africa. This is part of its push to ensure a pan-African reach by supporting local, and women founders.
It is looking to expand its team of 33, which is currently spread across nine countries, including Ghana, Nigeria and Kenya. ” Sevey said Mantium is also preparing to enter a phase where it will create impactful meaning applications beginning next year — as it moves to connect “things with AI”. “So
The continent’s $115 billion digital economy is in its early phases. Much of the growth so far has been concentrated in four key markets: Nigeria, South Africa, Kenya and Egypt. For instance, 33% of individuals use the internet compared to a global average of 63%.
“When we first started, we were focused on phase one of our strategy, which came from our knowledge about ride-hailing drivers because of our careers at Uber,” Ruzane said to TechCrunch. Kenya and Nigeria, on the other hand , have a different automotive value chain. and Japan.
The Origin of Shower Strike In 2010, founder Sarah Evans visited Kenya and saw the devastating effects of dirty water. During the recruitment phase for peer-to-peer fundraisers, the ability to easily update and rearrange content ensured that the most compelling stories were always front and center.
The platform has been rolled out to 54 African countries and will support the gathering, access, management and analysis of quality data from African countries.
” A large chunk of early-stage deals fall apart in the due diligence phase. Smith stepped in for Federico for the second fund, and Federico has since moved to Kenya where he now has a more passive role in terms of day-to-day involvement. “And I think it’s also just a huge vote of confidence.”
If your organization isn’t in a growth phase this year (and let’s be honest, most of us aren’t), you can still point to specific needs. They shared with the community that they wanted to install six new gardens in Kenya this year. They will see the building go up, the program get off the ground, or the new position be hired.
So, to help these ideas come to life, our next phase will focus on working directly with farmers and those in the field to get their feedback, and shape a useful, scalable, sustainable solution. These ideas are just the start. In order to make them successful, we need the input of those using a potential solution. Dun-Ying Vicki Yu.
For those not familiar with that term, program management includes representing the owner or the nonprofit at every step of the development process from, you know, land acquisition, going through due diligence, design, preconstruction, and the construction to move in phase. . So feasibility study is an important part. . ” .
BasiGo , a Kenya-based EV started, closed $4.3 million in seed funding to provide clean mass transit vehicles in Kenya. Joby has also begun Federal Aviation Administration conformity testing as it seeks type certification for its aircraft and enters the “implementation phase” for the first time. million seed raise. In-car tech.
Our next phase is really a massive expansion - our vision is to link over five million women within three years into one of the largest action networks for women in the world, and have a communications infrastructure that really unites the women's movement. There are a lot of things that are different from the start up phase.
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