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And in trying to sweet-talk investors, what’s not taken into context or often disregarded is that Africa is a fragmented $3 trillion market. Trade has the least startup activity in a market that received $5 billion in VC funding last year. The continent is also home to more than 1.2
Gozem , a super app that provides a host of services — including transport, e-commerce and financial services in Francophone Africa — has raised $5 million in Series A financing, the company confirmed to TechCrunch. It follows the $7 million raised in previous seed rounds via three tranches from investors such as U.S.
Founded by Olaoluwa Awojoodu , the company’s agent banking platform, PayCentre Africa, is present in Nigeria, Niger, Burkina Faso, Ivory Coast and Togo. a “financial super app” with payments, remittance and banking features, is announcing that it has raised $1.5 What gives Yep!
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 company subsequently raised a $3 million seed round. MaxAB, the Egyptian B2B food and grocery delivery startup, raises $40M for expansion.
Automotive e-commerce company Autochek has expanded to new markets in Africa after acquiring CoinAfrique, a classified ad marketplace, nearly two months after the Nigerian startup acquired Moroccan auto marketplace KIFAL Auto , marking its foray into North Africa. CoinAfrique classifieds ads marketplace is active in 12 Francophone markets.
It’s an extension of the $260 million Series D round the solar company announced this April, which was led by BeyondNetZero, the climate investing venture of General Atlantic and M&G Investments’ Catalyst and Arch Emerging Markets Partners. Sun King raises $260M to widen clean energy access in Africa, Asia.
Armed with a new financing model and purpose-built small solar-powered generators and water pumps, Nichols and Ibrahim have already built a network of customers using their equipment to increase incomes by anywhere from five to 10 times their previous levels by growing higher-value cash crops, cultivating more land and raising more livestock.
The company, which facilitates B2B payments for businesses in Francophone West Africa, mainly via mobile money channels, has raised a total of $7 million in the financing round. . In Ivory Coast, one of Francophone Africa’s largest mobile money markets, 75% of the population own a mobile money account, compared to 20% who hold bank accounts.
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