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Chari digitizes the largely fragmented FMCG sector in parts of French-speaking Africa, particularly Morocco and Tunisia. CEO Ismael Belkhayat told TechCrunch that Axa was pulling out its credit business — secondary to its core insurance business— from Morocco and saw Chari fit to take over.
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.
Terraa , a Moroccan B2B tech-enabled food distribution platform, has raised $1.5 The startup is bringing change to the fresh food supply chain in Morocco, which Benkirane describes as highly fragmented, still traditional and dominated by intermediaries buying produce from farmers at low prices, only to sell for huge profits. “In
To understand how much growth has occurred, African startups raised a meagre $400 million in 2015 compared to the $2 billion that came into the continent in 2019, according to Africa-focused fund Partech Africa. Did African startups raise $496M, $1B or $2B in 2019? Fintech startups raised 24.9%
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.
In the latest development, Curacel , a Nigeria-based platform that aims to drive insurance penetration in emerging markets via APIs enabling insurers to connect with digital distribution channels and administer their claims, has raised $3 million in seed funding.
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.
As Mylerz expands to Algeria, Tunisia and Morocco, Fawry, its payments partner, will come along to provide electronic payment and cash collection services. Egyptian fintech Paymob raises $50M led by PayPal Ventures and Kora Capital.
Chari offers an identical offering in Morocco. B2B e-commerce platform Chari is acquiring the credit line of Axa Assurance in Morocco for $22M. Sokowatch rebrands to Wasoko as it raises $125M Series B from Tiger Global and Avenir.
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
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. The Khatabook-esque platform provides credit and bookkeeping services to about 50,000 merchants.
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. AfricInvest, through its Cathay AfricInvest Innovation Fund (CAIF) and French-based development finance institution Proparco, co-led the early-growth round.
The capital we have raised will help us to quickly scale into new markets beginning with Ghana, where we will launch in December,” Leta founder and CEO, Nick Joshi told TechCrunch, adding that its working on a transport marketplace, and fintech products too. “Our next year is going to be fairly big for us.
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.
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).
” 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.
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
Per reports , major regional exchanges in Africa have raised over $80 billion in equity capital markets and $240 billion in debt capital markets. To bolster its efforts, it has also raised $1.6 That was the year MTN Ghana, a local telecom operator, went public in the West African country after raising about $237 million. “I
The automotive marketplace, which allows customers to sell and buy used cars, has raised a pre-seed round of $12.6 Autochek expands to North Africa after acquiring Morocco’s Kifal Auto. Cairo-based Sylndr is a new player in a market where unorganized dealers and classifieds dominate the sales volume.
The highlight of third day was a VIP Lunch with project sponsors, implementation team, and remote participation via skype from members of the In-Country teams in Jordan and Morocco. Widad El Hanafi, Country Director in Morocco gave an overview of the challenges faced by NGOS in her country and social media use.
E-Mediat is working with more than 220 NGOs in Jordan, Lebanon, Morocco, Tunisia, and Yemen. I shared some of stories of how I got started and my experience in social fundraising to help raise money for the Sharing Foundation. I also spoke about content curation and some best practices for social media measurement.
African startups nearly raised $1.5 Predictions were made on how much the continent’s startups would raise in December. 2021 was when African tech reached an inflection point and took center stage as companies raised over $4 billion (more than they got in 2019 and 2020 combined). It wasn’t a bad year, though. billion and $2.8
Appetito , the Egyptian platform that delivers groceries and household products to customers from 11 dark stores across three cities in the North African country, is acquiring Lamma , an identical startup with operations in the Maghreb regions of Tunisia and Morocco. . The deal is expected to close by the end of Q3 2022.
They include Algeria, Botswana, Egypt, Kenya, Lesotho, Malawi, Mauritius, Morocco, Mozambique, Senegal, Seychelles and South Africa. Like when its partnership with Worldpay FIS coincided with its Series B funding, this announcement is also coming on the back of a raise.
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. The investment came from a long list of VCs and angel investors. After earning a Ph.D.
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. The Morocco Team blogged about two of the tools that were demoed, social mention and rowfeeder. They’ve simplified and focused on what they do best.
Freterium , a startup based in Morocco, is one such company providing this software, and it has raised $4 million in seed to scale across the country and into surrounding regions. . Only B2B e-commerce startup Chari and proptech Mubawab has raised more recently. San Fransisco-based investor Partech led the round.
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.
The 15-page PDF includes the pros and cons of using Facebook for activism, a step-by-step guide to organizing an activism campaign on Facebook, and examples of campaigns from Burma, Morocco, and Egypt. With a few exceptions, these applications have yet to raise significant dollar amounts. It is a quick read and very useful.
Publicly, Fenix has only raised $5 million, most, if not all, of which probably went toward the company’s purchase of Turkish e-scooter operator Palm. Dhanoa says Fenix has raised more money that it hasn’t yet announced to help it scale and expand.
Namibian business-to-business e-commerce startup JABU confirmed to TechCrunch that it has raised a $3.2 One of the earliest in the space, Nigerian B2B e-commerce platform TradeDepot , raised a combined $110 million in debt and equity. million financing round. JABU shines a light on the Southern Africa region.
Still, an Amnesty International statement raised concerns that the company is providing spyware to oppressive governments, where government agencies can’t be trusted to do right by their citizens. In its transparency report released at the end of June, the company claimed it has done that before.
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.
Autochek expands to North Africa after acquiring Morocco’s Kifal Auto. Autochek was previously present in Nigeria, Ghana, Kenya, Ivory Coast, Uganda and Morocco. The company, which in October last year raised $13.1 CoinAfrique classifieds ads marketplace is active in 12 Francophone markets.
Jambo , a Congo-based startup building Africa’s web3 user acquisition portal through “learn, play, earn” and democratizing access to crypto-based income-generation opportunities, has raised $7.5 Nestcoin raises $6.45M pre-seed to accelerate crypto and web3 adoption in Africa and frontier markets. million in seed funding.
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. African gaming startup Carry1st raises $27M from Bitkraft Ventures and a16z by Tage Kene-Okafor originally published on TechCrunch.
I think certainly one thing that, as the leader of an organization that has to raise every penny I give away, I do sometimes wish people would ask me about, "How can I contribute to the Global Fund for Women? What could I do to raise more money for you? The year before that, women in Morocco won an amazing change in the law.
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