Open banking, in which traditional banks release their data via application programming interfaces (APIs) to enable the development of new financial services for their consumers, has been one of the m
Enza Capital, a venture capital firm that backs startups “organizing the offline online” and “digitizing key African industries,” has closed $58 million across two funds. In 2019, the company
The payment landscape in Africa is still fragmented, with several payment operators providing different payment options to customers as well as businesses. Due to this fragmentation, payment failures
P1 Ventures has reached the first close of its second fund at $25 million. It expects to reach a final close early next year.
In 2020, Kauffman Fellows (KF), a prominent venture education program renowned for its extensive and well-established network of VCs, made a concerted effort to enhance the diversity within its board.
Africa’s agricultural sector has a significant social and economic impact, per McKinsey. The percentage of smallholder farmers in sub-Saharan Africa exceeds 60%, while agriculture accounts for appro
ANKA, an Ivorian SaaS e-commerce platform for African businesses, has raised $5 million. The pre-Series A extension round is a mix of equity and debt; last January, ANKA, formerly Afrikrea, raised $6.
Mecho Autotech, a startup offering automotive spare parts, vehicle repairs and maintenance services, has raised a $2.4 million pre-Series A round. The firm targets the Nigerian market, where 90% of th
Nestcoin, a development company housing modern finance project Onboard, has secured $1.9 million in a strategic funding round. Hashed Emergent, a Web2.5 fund for builders from emerging markets, led th
In early 2022, ex-Andela and Flutterwave co-founder Iyinoluwa Aboyeji, in an interview with TechCrunch, discussed a moonshot project he was working on: Talent City, explicitly designed for local and g
Anchor, a Nigerian banking-as-a-service (BaaS) provider, has raised $2.4 million in seed investment. Justin Kan’s Goat Capital led the financing round, which also welcomed participation from Founder
This week, South African early-stage accelerator and investor Founders Factory Africa (FFA) raised $114 million. The firm plans to use the impact capital from Mastercard Foundation and Johnson & J
In the first quarter of 2023, we reported that Jumia recorded its lowest losses in four years. Its adjusted EBITDA and operating losses dropped to $27 million and $30.9 million, respectively. Those nu
Mastercard has agreed to purchase a minority stake in the fintech division of MTN Group, Africa’s largest cell phone provider, which it values at $5.2 billion. The signing of the formal investment a
Moove, an African mobility fintech that provides vehicle financing to drivers of ride-hailing platforms like Uber and other gig networks, has raised $76 million in new funding. It includes $28 million
South African growth-stage investor Knife Capital has reached the final close of its $50 million fund. The third fund addresses a critical funding gap in growth stages where local investors have histo
Sendy, a Kenyan logistics startup that enabled retailers to purchase FMCGs directly from manufacturers, among other services, is shutting down its operations and exploring a sale of its assets, TechCr
Emtech, an African provider of central banking infrastructure, introduced its Central Bank Digital Currency (CBDC) Innovation kit last month. The kit caters to fintechs and financial service providers
Micro, small, and medium-sized firms (MSMEs) constitute the backbone of the Nigerian economy, accounting for more than 60% of GDP growth and playing a crucial role in job creation. According to the Na
As one of the well-known data and cloud martech companies in Africa, Terragon, via several products, gives its clients (primarily telecommunications and financial services companies) data on the conti
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