Egypt-based fashion marketplace, The Fashion Kingdom (TFK), has raised a $2.6 million Seed funding round, co-led by CVentures and A15, with participation from existing investors such as Paul Antaki and Nasser Chourbagi. New participating investors include Lotus Capital, Africa-focused investors Raba Capital, Sunny Side Venture Partners, Foundation Ventures and The…
Author: AdeO
African Export-Import Bank (Afreximbank) has endowed Grand Africa Initiative (GAIN) with a grant to train two hundred young African entrepreneurs on entrepreneurship and intra-African trade over three months starting July 2022. The three-month programme is designed to equip participants from across Africa with the skills to grow and expand their…
Kwik Delivery has launched KwikStore, a free eCommerce storefront solution that allows African business owner, merchants, social vendor entrepreneurs and SMEs to create their own online stores literally in 5 minutes without any technical knowledge and to run their business directly from a smartphone Social vendors can link their KwikStores…
Bizao, a fintech that facilitates payments for both local and international businesses operating in Africa, announces an €8 million series A funding round led by AfricInvest Financial Inclusion Vehicle (AfricInvest FIVE), Adelie and Seedstars Africa Ventures. The startup will use the funds to accelerate its geographical footprint across the continent…
The University of Lagos (UNILAG) and Nigerian automotive manufacturer, Nord Motors have signed a Memorandum of Understanding to set up an automobile manufacturing hub on the university’s campus.The MOU was signed at an event held at the Council Chamber of the institution. While speaking at the event, the Vice-Chancellor, Prof.…
Dutch entrepreneurial development bank, FMO has pledged a $10 commitment to Algebra’s second fund. The agreement was signed in the presence of H.E. Mr. Han-Maurits Schaapveld, the Dutch ambassador in Cairo. Announced in April 2021, Algebra Ventures’ second fund invests in technology start-ups in Egypt with an allocation for the…
CFAO Motors, the sole distributor of Suzuki cars in Nigeria, has partnered with ETAP, an InsurTech company that creates solutions and incentives to improve the automotive experience across Africa, to enable seamless access to insurance with every new car purchased from the Suzuki network in Nigeria. As part of the…
Cryptocurrency exchange KuCoin has announced that it has attained the 20 million users landmark. The new milestone comes after the platform reported a record-high number of registered users in the first half of 2022. The platform in June officially announced a full-scale launch of its KuCoin Wallet App. The cryptocurrency…
Netflix has partnered with Microsoft on a new Ad supported subscription plan. The partnership will enable consumers to have more options to access Netflix’s award-winning content. Also, marketers looking to Microsoft for their advertising needs will have access to the Netflix audience and premium connected TV inventory. Mikhail Parakhin, President…
Egyptian Stllr Network has secured a six-figure investment after a public beta launch from 500 Global, angel investors through Women Spark and Falak Angels. Other participants include backers from the KSA Ministry of Investment, ex-Microsoft and Oracle leaders, Accenture, Emkan and the Digital Cooperation Organisation. Stllr reduces wasted costs in…
Instagram now has a payment feature that allows its users to make purchases from small businesses directly in chats on Instagram. Mark Zuckerberg announced this payment feature today in a chat with Jawsurf on Instagram. The payment feature allows users to chat with a qualified small business on Instagram, and…
Application is open for MTN’s Open API Hackathon organized by the telecoms and technology company’s Mobile Money Application Interface (API). Developers across several markets are invited to participate in a challenge to create a mobile application that uses MoMo APIs for use in their markets. Developers will have 4 weeks…
Nigeria’s full-service FinTech and Banking as a Service infrastructure provider, Bloc has acquired Getwallets, the wallets-as-a-service provider that has now recently pivoted to become a payments orchestration company, Orchestrate. The strategic acquisition will enable Bloc to focus its core product strategy on delivering seamless BaaS & banking services while Orchestrate…
Juniper Research has released a study that shows that the cumulative merchant losses to online payment fraud globally between 2023 and 2027 will exceed $343 billion. Juniper Research provides research and analytical services to the global hi-tech communications sector, providing consultancy, analyst reports and industry commentary.According to the firm, online…
Baobab+, a French company specializing in electrification via solar home systems has secured a $5 million loan from the impact investment platform Symbiotics based in Geneva, Switzerland. The funding will allow the company to expand its services in six countries in sub-Saharan Africa. The Paris-based company installs solar home systems…
Digital Music and Commerce Exchange Limited (DMCE) in partnership with Chordcash, an American company that provides a patented technology to help artists get advances on their streaming royalties, has launched Orin Fund, an e-commerce marketplace holding various forms of financial products for artists across Africa. Founded in 2018, Digital Music…
Tunisia-based fintech Paymee, has closed a six-figure funding round led by P1 Ventures, a venture capital firm specialising in early-stage African FinTech. Founded in 2018 by Marwen Amamou, the startup specializes in digitising payment flows that offer online payment acceptance solutions through cards. Its solution can be integrated into any…
Digital payment company, Visa, has partnered with Africa’s Fintech company, Flocash to digital capabilities for African SMEs through digital payments, supplier solutions, and access to financial services. The partnership for a start will give rise to the launch of Flostore, powered by a Visa digital wallet and the Flocash pan…
Pan-African company that offers a suite of crypto products, Mara has announced the pre-launch of the Mara Wallet to help people manage their crypto-finance needs. The wallet will also help its users attain financial freedom while also promoting crypto literacy and blockchain in Africa. A fast and secure multi-currency crypto…
Africa’s payments technology company, Flutterwave has announced the appointment of former Goldman Sachs’ Managing Director, Gurbhej Dhillon as Chief Technology Officer (CTO). Gurbhej joins at a key time for Flutterwave, following its recently completed Series D funding round, valuing the company at over USD 3 billion, and maintaining its rapid…