Mauritius- Based Bayport Management has secured $12 million in financing from WaterEquity, a US-based asset manager dedicated to solving the global water and sanitation crisis. The funding will provide access to financial services for traditionally underbanked, low-income public sector employees to obtain loans for housing or home improvement-related purposes, including…
Author: AdeO
Kenzz, an Egyptian mass e-commerce startup raised $3.5 million in a Seed fundraise led by Outliers Venture Capital, HOF Capital, Foundation Ventures, Samurai Incubate, and some angel investors. The Egyptian startup will deploy the proceeds into continued recruitment of leading talent; grow product categories and assemble a wide variety of…
Polygon has partnered with SPORTFIVE, a full-service sports and entertainment agency to bring the transformative power of blockchains to the world of sports. The two companies are collaborating to enable end-to-end growth strategies for sports rights-holders and brands across a range of Web3 initiatives, including Metaverse, NFTs, DeFi, and DAOs.…
Egypt’s B2B pharma platform i‘SUPPLY has raised $1.5 million in a pre-seed round led by Disruptech Ventures among other investors. The tech-enabled distribution marketplace plans to use the new proceedings to expand across the country and into other countries in the Middle East and Africa region. Founded in 2021 by…
Egypt’s e-commerce financing platform, FlapKap, has secured $3.6 million in a Seed round from Bolt by QED, Nclude, Outliers, and A15. This latest capital injection comes six months after the company’s pre-seed raise and coincides with the company recording significant milestones of an MoM growth of 200% in the amount…
Decades worth of technological innovation has advanced a lot of industries forward. Not only were they improved in the quality of goods and services, but they were also made more accessible. Among those industries to benefit greatly from technology is entertainment like online gaming. Players worldwide can enjoy a lot…
Egypt’s healthtech, Vezeeta has secured an undisclosed amount in funding from Abu Dhabi-based Gulf Capital and Sweden-based VNV Global. Following its attainment of profitability, Vezeeta is set to accelerate its organic growth as well as fund acquisitions and expansions across the Middle East and Africa. Founded in 2012 by Ahmed…
InfraCo Africa, a part of the Private Infrastructure Development Group (PIDG) has signed an agreement with Equatorial Power (EP), committing US$1.7m to scale the company’s innovative mini-grid model in the Democratic Republic of the Congo (DRC) and Rwanda. The project will see the companies co-develop four new mini-grids and four…
Nigeria’s proptech startup Spleet has secured $2.6 million in a funding round led by Mac Venture Capital. Other investors in this round include Noemis Ventures, Plug and Play Ventures, Assembly Fund, Ajim Capital, Francis Fund, Daba Finance and other angel investors, including Proptech operators; Eduardo Campos and Paulo Buchicher of…
Egypt’s leading venture capital fund, Algebra Ventures has finalized a $100 million first close of its second Egypt-dedicated fund, exceeding the targeted $90 million fund – its biggest to date. Algebra has backed numerous exceptional businesses and category leaders including Trella, Khazna, Mozare3, Shift EV, elmenus, Halan and Yodawy -…
The African Women Innovation and Entrepreneurship and Forum (AWIEF) has announced the winners of the 2022 edition of its awards. The winners were were announced on Tuesday at a ceremony on the rooftop of The Nile Ritz-Carlton, Cairo, Egypt. The AWIEF annual awards recognise, honour, and celebrate women entrepreneurs and…
The African Export-Import Bank (Afreximbank) has announced the official launch of its Afreximbank Trade Payment Services (AfPAY). AfPAY is an intervention created to facilitate the settlement of international trade on open account terms on behalf of identified African financial institutions and their clients. The product was designed to address the…
Digital lifestyle and payments platform, Quickteller has launched Quickteller Transport to enable users to easily search and book inter-state trips from multiple travel operators across Nigeria. The new feature is embedded as a service on Quickteller Web and Mobile app and is available for use by both new and existing…
African remote biometric digital authentication and automated onboarding technology platform, iiDENTIFii has secured $15 million in growth capital. This is the largest African series A round of financing in the identity verification space. The round was led by investment company Arise whose cornerstone investors include Rabobank Partnerships, Norfund, NorFinance and…
AppsFlyer has released the 2022 edition of its State of eCommerce App Marketing report. AppsFlyer within the report outlines key global trends,guiding marketers in building a mobile-first experience that will drive engagement and sales for the upcoming holiday season. Following the past few years of significant e-commerce growth resulting from…
The Fund for Export Development in Africa (FEDA) has announced its first close of US$670 million across its four fund strategies. FEDA is the impact investment arm of the African Export-Import Bank (Afreximbank) set up to support intra-African trade growth, value-add export development and industrialization. $270 Million of the $670…
Netflix is rolling out a new feature that will enable members of its community to create game handles for a more personalized gameplay experience. With game handles, members will be able to create a unique public username that can be used across all Netflix games. In multiplayer games like Rival…
Cryptocurrency exchange, Binance has launched its Global Law Enforcement Training Program to aid law enforcement agencies to battle financial and electronic crimes that involved crypto or digital assets. According to Binance, the training programme will be led by a team of highly skilled professionals, including security experts and former law…
Meta is rolling out new features that will allow people on Facebook and Instagram to easily access, create and navigate between multiple accounts and profiles. First, the tech company is introducing a new profile-switching interface that will make it easier to stay on top of notifications and navigate between Facebook…
Nigeria’s Coronation Merchant Bank has received a $20M Trade Finance Guarantee Facility from Proparco, the private sector financing arm of Agence Française de Développement Group (AFD Group). The facility will enable Coronation Merchant Bank to create and solidify partnerships with correspondent banks, thereby increasing access to trade finance in Nigeria.…