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 […]
‘If you run, you will die’: fear stalks Nigerian state as jihadists gain foothold
Niger state has been wracked by banditry for years. Now jihadists have moved in to communities just a few hundred miles from the capital, Abuja“They ordered everyone to come around, saying if you run, if you cry, you will die,” said Bala Pada, recallin…
MainOne CEO Funke Opeke says Equinix is buying her company for the right price
The African tech scene woke up today to exciting news about the landmark acquisition of MainOne, one of the region’s most important and pivotal tech companies in the past decade, by Equinix, a U.S. multinational specializing in internet connection data centers. The story of MainOne starts with founder and CEO Funke Opeke moving back to […]
TradeDepot raises $110M from IFC, Novastar to extend BNPL service to merchants across Africa
Startups digitizing B2B e-commerce and retail in Africa continue to grab the headlines after the pandemic paved the way for widespread offline retail and commerce disruption. TradeDepot, a Nigeria- and U.S.-based company that connects consumer goods brands to thousands of retailers and help out with distribution, has raised $110 million in new equity and debt […]
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 […]
Norrsken Foundation’s hub opens in Rwanda, to house 1,000 entrepreneurs by next year
In 2019, Swedish coworking space and investment fund Norrsken Foundation announced the launch of its first entrepreneurship hub outside the Scandinavian nation in Rwanda. The center, located in Kigali, has finally opened up to the region, though it is happening in two phases. The first, which took place yesterday, will welcome 250 entrepreneurs. The second phase […]
Francophone African super app Gozem grabs $5M to expand and offer more services
Gozem, a super app that provides a host of services — including transport, e-commerce and financial services in Francophone Africa — has raised $5 million in Series A financing, the company confirmed to TechCrunch. The Togo- and Singapore-based company received investment from AAIC, Thunes (TransferTo), Momentum Ventures (SMRT), Innoport Ventures (Schulte Group), CMC Ventures (National […]
Faster deals, less diligence: The African startup market mirrors its larger rivals
Given that VCs are putting more money to work in Africa this year as the quarters tick along, it’s reasonable to anticipate that 2022 could bring even greater total venture investment.
Nigeria’s Helium Health acquires Qatar’s Meddy in rare Africa-GCC deal
Nigeria-based health tech startup Helium Health has acquired Meddy, a Qatar-headquartered and UAE-based doctor booking platform for an undisclosed amount. The acquisition, termed “a great deal” by Helium Health CEO Adegoke Olubusi on a call, is unusual in the sense that it overlaps two regions that rarely do in tech: Africa and the Gulf Cooperation […]