The Spark+ Africa Fund on Wednesday announced it has raised over $40 million in a first close. The Fund is the world’s first impact investment fund focused on financing the value chains of clean and modern cooking appliances and fuels, to make them available to more people across Sub-Saharan Africa.…
Author: Oluwasegun Olukotun
Leading technology company, Flutterwave, has partnered with Afritickets – an end-to-end event ticketing platform – to create more revenue opportunities for event organisers in Africa and improve ticketing experience for event-goers. The new partnership is a big boost for event organisers in Africa as it will enable them to accept…
Africa’s new market entrant eWAKA spearheading sustainable mobility options to enhance the region’s economic prospects, today officially launched a green response to Africa’s expanding transportation requirements. eWAKA is currently fundraising to develop a local African assembly facility and to further expand the existing IT capabilities for increased client security and…
Netflix and UNESCO have announced the 6 winners of the groundbreaking Short Film Competition across Sub-Saharan Africa-themed ‘African Folktales Reimagined. In February 2022, both Netflix and UNESCO released 20 shortlisted candidates who will in proceed in the exciting competition. Each winner will receive US$25,000 plus a production budget of US$75,000 to…
Pan-African media company headquartered in Nigeria, Big Cabal Media [BCM], has announced the close of its Seed Series fundraising round at $2.3million, led by MaC Venture Capital, with participation from Luminate, Unicorn Group, Future Africa and a range of angel investors. BCM has previously raised about $620k in angel and…
IFC today announced an investment in a new venture capital fund from Disruptech Ventures to support development in Egypt’s fintech sector and help expand access to financial services in the country. IFC committed $5 million in Disruptech, which aims to provide seed capital to up to 25 start-ups with a…
Egypt-based fitness app Welnes has closed a $300,000 Seed round led by Flat6labs with participation from Samurai Incubate, UI Investments, and a group of angel investors Welnes is a community app that helps users reach their weight-loss and lifestyle goals under the guidance of top-tier nutritionists and trainers. Welnes was…
US-based imaging-guided therapy provider, Astute Imaging LLC, has announced its acquisition of Cairo-based HealthTech and AI-powered deep technology screening provider DilenyTech. The acquisition will enable Astute Imaging to leverage the power of AI to improve its current offering, expand services and develop innovative solutions in the medical imaging domain. Founded in 2018…
Luno, a wholly-owned subsidiary of Digital Currency Group (“DCG”), announces the launch of Luno Expeditions, a global, early-stage investment arm to support the best fintech and crypto/web3 founders on their journeys to build the next generation of financial services. Building on DCG’s 7-year track record in early-stage crypto investing, Luno…
Rainbow Sports Global has launched the African Football Data Centre (AFDC), an open, digital platform created in support of the development of football on the continent. The interactive platform, developed in cooperation with Football Benchmark, covers a broad range of data of African football. The free-to-use data centre provides information…
Morocco’s market leader in digital ticketing, Guichet.com, has received a $309,000 (MAD 3 million) equity financing from the 212 Founders program via CDG Invest, the CDG Group’s investment arm. The new investment is coming after the resumption of events, cultural, and sporting activities, following the Covid-19 pandemic. Ahmed Tawfik Moulnakhla,…
African mobility fintech company, Moove has raised $105 million in an oversubscribed Series A2 round consisting of equity and debt. The round is led by existing investors, Speedinvest, Left Lane Capital and the latest.ventures, with participation from new investors including AfricInvest, MUFG Innovation Partners, Latitude and Kreos Capital. Launched in…
The African Development Bank (AfDB) and the Bank’s Sustainable Energy Fund for Africa (SEFA) have approved a combined-equity investment of $20 million in the AfricaGoGreen Fund, a debt fund established to promote private investments in energy-efficient technologies and business models, with the objective of decarbonising African economies and accelerating the…
Flapmax announced today the twelve companies selected for the first cohort of the FAST startup accelerator created to help strengthen and scale Africa’s digital ecosystem. In partnership with Microsoft, Flapmax’s twelve-week startup accelerator begins March 21st. The diverse class of entrepreneurs come from 6 different countries, serve 9 industries, and include 2…
Curacel, the leading African insurance infrastructure startup, has launched Curacel Grow, an embedded insurance product that empowers technology companies to seamlessly offer insurance as part of their existing products and services. The startup is also part of the Winter 2022 cohort of Silicon Valley’s prestigious Y Combinator accelerator, joining the…
TikTok on Wednesday announced the launch of SoundOn, an all-in-one platform for music marketing and distribution, designed to empower new and undiscovered artists, helping them develop and build their careers. SoundOn is TikTok’s promotion and music distribution platform, enabling artists to grow their fanbases, harness their creative voice, and get…
Egypt-based fintech and next-generation banking platform, Nexta, after successfully satisfying all CBE regulations and requirements is set to debut powered by its newly secured $2.2 million funding. The pre-Seed round was led by Disruptech with the participation of key international backers. Nexta, the fintech challenger, intends to redefine the meaning…
Nigerian Financial super-app Yep! has secured $1.5 million in a pre-seed funding round led by Greenhouse Capital. The company is also launching a new digital financial super app in five African countries namely: Nigeria, Niger, Togo, Ivory Coast, and Burkina Faso. Yep! deploys technology to deliver unconventional and intuitive financial…
Mediterranean Bank has selected Zwipe, a biometric technology company to pilot Biometric Payment Cards built on the Zwipe Pay platform, making it the first pilot of biometric payment cards in Libya. Mediterranean Bank is a medium-sized bank in Libya, focusing on corporates, small and medium sized enterprises (SMEs) and entrepreneurs,…
Nigeria’s Buy Now Pay Later (BNPL) payment startup Klump has raised $780,000 in a pre-seed round. The Lagos-based platform will deploy the funds to launch its Pay with KlumpTM product with select partners, offering BNPL solutions to customers and businesses. The round was led by Seedcamp, a London-based investment firm,…