Asaak, a Ugandan asset financing startup, has secured $30 million in pre-Series A equity and debt funding. The round saw the participation of new and existing investors including Resolute Ventures, Social Capital, HOF Capital, Founders Factory Africa, End Poverty Make Trillions, Decentralized VC and a number of angel investors. Asaak offers motorbike financing to operators, […]
Shell-founded startup fund receives $13 million from Canadian DFI to accelerate clean energy access in Africa
FinDev Canada has injected $13 million into Energy Entrepreneurs Growth Fund (EEGF), which invests in early and growth-stage energy startups in sub-Saharan Africa. Part of the funding that will go towards increasing access to clean energy for off-grid households and businesses in the region. The $120 million EEGF, which was founded in 2019 by the […]
Kenyan BNPL startup Lipa Later eyes more African markets after raising $12 million
Lipa Later, a Kenyan tech-led consumer credit platform, is planning to expand to new markets in Africa after raising $12 million in pre-Series A funding. The equity and debt funding round saw the participation of Cauris Finance, Lateral Frontiers VC, GreenHouse Capital, SOSV IV LLC, Sayani Investments and Axian Financial Services. The startup, a buy-now-pay-later […]
Nigerian ethical credit-recovery fintech Bfree secures $1.7M, expands to Asia, Europe, South America and across Africa
Bfree, a Nigerian credit management fintech has embarked on global expansion after raising $1.7 million in a pre-Series A round, to tap the opportunities in emerging markets, where digital lending apps have recently sprung up in droves. Funds that participated in the latest round included 4Di Capital, Octerra Capital, VestedWorld, Voltron Capital, Logos Ventures, and […]
Tech-led biofuel startup Koko Networks launches new consumer goods business in Kenya
Koko Networks, a Kenya-based bio-fuel technology enterprise, has extended its business to cover other fast-moving consumer goods through a new tech platform that will capitalize on its established distribution networks in low-income neighborhoods. Koko Club, its new business line, is selling the products directly to consumers through the dukas (small shops) that currently serve as […]
Nigeria’s Teesas secures $1.6M, to expand across Africa and launch tutor marketplace
After seven years in the production of electronic gadgets, under his company Imose Technologies, Osayi Izedonmwen took leave to explore an idea that he had toyed with for some time — an edtech startup, Teesas, which now offers video classes and other digital educational material for learners in Nigeria. Teesas, which was launched less than […]
Melbourne-based edtech startup Vivi raises $20M to accelerate overseas expansion in race to reach 1M classrooms
Australian edtech startup Vivi has raised $20 million from education investor Quad Partners, funds that it intends to use to improve its platform, upgrade its operational infrastructure and hire more sales and marketing teams in the Americas, Europe and Asia. This latest round sees Vivi reach $24.3 in total capital over five years, after it […]
Nigerian mobility-tech startup MAX bags $31 million in Series B round, set to expand across Africa, build EV infrastructure
Nigerian mobility tech startup Metro Africa Xpress Inc. (MAX) is planning to enter more markets across Africa as it races towards formalizing the continent’s transportation sector after securing $31 million in Series B funding. The startup told TechCrunch that it will use the funding to enter Ghana and Egypt by the end of the first […]
Enterprise escalator Impact Rooms rises to prepare African startups for growth and investment
A few years ago, at the start of the fintech services boom in Africa, Oliver Blantern got an opportunity to work in the continent offering advisory services to high-growth startups. For slightly over three years his company, Riverhouse Technology, helped the emerging tech firms in talent sourcing and acquisition. The trained lawyer did all this […]
MarketForce partners with Cellulant to expand in five new markets across Africa as it races to cover continent
MarketForce, a Kenyan B2B retail and financial services distribution startup, has expanded into five additional markets across Africa to grow RejaReja — its retailer ‘super app’ that makes it possible for informal merchants to order and pay for inventory digitally, accept payments for utility bills, and access financing for their businesses. The startup has today […]