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Chari digitizes the largely fragmented FMCG sector in parts of French-speaking Africa, particularly Morocco and Tunisia. It operates a mobile app that connects small retailers in these two countries to FMCG multinationals and local manufacturers, allowing them to order and get products in less than 24 hours.
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.
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.
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
According to a McKinsey report, most African countries have experienced double-digit insurance growth in CAGR in local currency over the last five years, thus positioning the region as the second-fastest growing for insurance globally after Latin America. As many as 2.8% Despite the abysmal number, there’s some good news.
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
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.
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. Bouhlel says the company has local teachers in every country — over 500 in number — and they teach students in over 12 languages.
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. Last October, the YC-backed company acquired Moroccan ledger book Karny.ma. ”
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
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
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. transaction fee.
Per reports , major regional exchanges in Africa have raised over $80 billion in equity capital markets and $240 billion in debt capital markets. While local retail apps such as Bamboo and Chaka offer U.S. To bolster its efforts, it has also raised $1.6 In 2018, a landmark event tilted his journey into building SecondSTAX.
The company has now raised more than $80 million, and while it is not disclosing its valuation, PitchBook data notes that it is $715 million as of this round (which appears to have closed earlier in the year). At a time when the global economy has been under pressure, Taptap Send saw business grow eight-fold, the company said.
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. Yassir also plans to triple the size of its engineering team, a department the company is also particular about building locally. “We After earning a Ph.D.
To localize Networked Nonprofit concepts to an Arab NGO context, as appropriate, for improved project outcomes. 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.
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.
Nigeria’s YC-backed Remedial Health raises $4.4M 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 CarePoint raises $10M to spread healthcare tech across Africa.
Namibian business-to-business e-commerce startup JABU confirmed to TechCrunch that it has raised a $3.2 Its platform connects over 6,000 retailers to local and multinational suppliers — such as Namibia Breweries Limited, ABInBev, Bokomo, Coca-Cola, Namibmills — and digitizes orders, payments and logistics. million financing round.
They are also closely watching developments in generative AI services — so concerns raised in the letter look broadly aligned with issues already on the radar of the bloc’s data protection authorities. Mass data scraping of personal information can constitute a reportable data breach in many jurisdictions.”
The Barcelona-based company has invested up to €25 million ($30 million) by bringing its food delivery service to six African countries — Morocco, Uganda, Kenya, Ghana, Côte d’Ivoire and Nigeria. Glovo is available in more than 40 cities with more than 300,000 users, 8,000 restaurants and 12,000 couriers in these countries.
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.
The program is managed by the Institute of International Education (IIE), and implemented with a coalition of leading new media experts and local and international partners from the public and private sectors. 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.
I think what makes us unique is that we are really investing in women's leadership and women's creativity in developing local solutions to some of the world's most challenging problems. What could I do to raise more money for you? The year before that, women in Morocco won an amazing change in the law. laughter] How about this?
Since its launch in 2018, Carry1st, a publisher of social games and interactive content across Africa, has raised funding from investors such as Google via its Africa Investment Fund and Avenir Growth Capital. Gaming-focused investment firm Bitkraft closes in on at least $140 million for its second fund.
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