Nigerian automotive tech company Autochek today is announcing the acquisition of Cheki Kenya and Uganda from Ringier One Africa Media (ROAM) for an undisclosed amount. Per a statement, Autochek will finalize the deal in the coming weeks. With the acquisition, Autochek completes its expansion into East Africa and follows the first acquisition made almost a […]
Zip acquisition of Payflex means Africa is ripe for BNPL disruption
Australian buy now, pay later (BNPL) company Zip this week acquired South Africa-based BNPL player Payflex for an undisclosed amount. It’s a piece of news that once again highlights the hype around BNPL services and the quest for global dominance among the leading players. This year we have covered BNPL services from the likes of […]
This YC Summer batch features the largest group of African startups yet
African startups also increased from 10 in the winter batch to 15 this time around, a record for African startups in a single YC cohort.
PawaPay raises $9M seed backed by MSA, 88mph and Mr Eazi’s Zagadat Capital
When companies create digital payments-facing solutions for African countries outside Nigeria and South Africa, building around mobile money is key. It’s literally a no-brainer. The concept is ubiquitous in East Africa, but since mobile money is a telecom operators-led initiative, there are technical complexities in creating a unified infrastructure for businesses that need it. PawaPay, […]
MaxAB gets an extra $15M, acquires YC-backed Moroccan startup WaystoCap
Last month, MaxAB, the Egyptian B2B e-commerce platform that serves food and grocery retailers, raised one of the largest Series A on the continent, to the tune of $40 million. Today, it has raised a $15 million extension from existing investors — RMBV, IFC, Flourish Ventures, Crystal Stream Capital, Rise Capital, Endeavour Catalyst, Beco Capital […]
African fintech OPay valued at $2B in SoftBank Vision Fund 2-led $400M funding
Chinese-backed and Africa-focused fintech company OPay raised $400 million in new financing led by SoftBank Vision Fund 2, Bloomberg reported Monday, valuing the company at $2 billion. The round, which marks the Fund’s first investment in an African startup, drew participation from existing investors like Sequoia Capital China, Redpoint China, Source Code Capital, and Softbank […]
Mobility startup Plentywaka picks up $1.2M seed, acquires Ghana’s Stabus
Lagos and Toronto-based mobility startup Plentywaka has raised a $1.2 million seed round to scale its operations on the back of leaving the Techstars Toronto accelerator program last month. Canadian-based VC firm The Xchange led the round, SOSV and Shock Ventures participated, while Techstars Toronto made a follow-on investment. Nigerian firms Argentil Capital Partners and […]
Y Combinator, 500 Startups, Plug and Play invest in Odiggo’s $2.2M seed round
Servicing one’s car personally is a time-consuming, expensive and painstaking process. It’s a cycle that can lead to more expensive repairs and safety issues down the line, and no car owner likes that. Egypt and Dubai-based auto tech startup Odiggo is a platform addressing this problem. It allows car owners to get the help they […]
Alerzo raises $10.5M Series A to bring Nigeria’s informal retail sector online
The process of digitizing the operations of mom and pop stores in Nigeria is serious business right now. In fact, it might be the second-best thing after fintech at the moment. Today’s news is from Alerzo, a little-known B2B e-commerce retail startup based in Ibadan, Nigeria. The company is announcing a $10.5 million Series A […]
African fintech Pngme raises $15M for its financial data infrastructure platform
Unbundling financial data through APIs and driving data-driven insights with value-add products in Africa keeps getting more exciting as major players continue to raise more money for scale. Less than a year after its $3 million seed round, San Francisco- and Africa-based fintech Pngme has snapped up another $15 million for its financial data infrastructure […]