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The raise comes after Pula closed $1 million in seed investment from Rocher Participations with support from Accion Venture Lab, Omidyar Network and several angel investors in 2018. . They include Senegal, Ghana, Mali, Nigeria, Ethiopia, Madagascar, Tanzania, Kenya, Rwanda, Uganda, Zambia, Malawi and Mozambique. million farmers.
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.
In its next phase of growth, it is opening up its platform to more clients, as it had limited access to 10 companies. Chargel, which came out of stealth last year, matches shippers with transporters, digitizing processes that were previously largely offline. Its exploration of new growth avenues is backed by a $2.5
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. Our next year is going to be fairly big for us.
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
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.
Startups in Africa raised nearly $5 billion in funding last year but the amount remains meager when compared to the rest of the world. Reports say African startups raised record-smashing $4.3B to $5B in 2021. The nine have equity investment needs of between $25,000 and $100,000.
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. . MarketForce raises $40 million Series A, introduces BNPL merchant stock financing.
Tala , an emerging markets digital lender that offers loans between $10 to $500 to consumers and small business owners, has raised $145 million in Series E funding. Existing investors IVP, Revolution Growth and Lowercase Capital also joined the round that brings Tala’s total funding raised to a little over $360 million.
I was able to raise $2,500 in 90 minutes at Gnomedex. Right before Thanksgiving, the TweetsGiving effort helped Epic Change raise over $10,000 in 48 hours to build a classroom in Tanzania seeking $10 donations. Phase two: All of the cities should be linked up to the homepage. Micro donations using TipJoy.
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.
Adanian Labs targets idea-phase tech startups, offering them all-round support including capital, advisory and operational backing; building them from the ground up. So, we have a short program to help them raise,” said Kamara. All these startups have raised on average $2 million each in seed funding over the last few months.
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