Fintech solutions provider Kuunda closes US$2m seed round

EAST AFRICA – Kuunda, a B2B2c fintech solutions provider, has closed its US$2.25 million seed round, in line with our recent brand relaunch. The fund was led by Accion Venture Lab, Finca Ventures, Launch Africa, Seedstars, Mercy Corps Ventures, Greenhouse Capital, Kepple Africa Ventures, Future Africa, The Magic Fund, and other fintech angel investors. Kuunda provides liquidity to the informal…

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Greenage Technologies, All On to expand solar equipment manufacturing facility

NIGERIA – Shell-funded impact investment company, All On has announced a US$500,000 investment in Greenage Technologies Power Systems Limited to fund the construction and expansion of its charge controllers and inverters manufacturing facility in Enugu State in South-Eastern Nigeria. The deal is to fund the construction and expansion of Greenage charge controllers and inverters manufacturing facility in Enugu State. “We’re…

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Edtech startup Kibo School raises US$2m seed fund to launch degree program

NIGERIA – Kibo School, an online school that is set to offer several STEM degree programs targeted at students in Africa, has secured US$2 million seed funding led by Neo, a VC firm by the co-founder of Code.org. Future Africa, Pledges, Brooklyn Bridge Ventures, Transcend Network and several angel investors also participated in the round. The new funding brings the…

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Autochek partners fintech Pezesha to enable SMEs in Kenya to access asset financing

KENYA – Autochek, the automotive technology company, has launched a new partnership with Pezesha, a digital financial marketplace that builds scalable lending infrastructure for SMEs, to enable SMEs in Kenya to access asset financing. The partnership will enable SMEs to acquire auto assets for ease of business operations and growth. Currently, Autochek has increased market adoption for auto financing through…

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Mastercard partners KTB to drive growth of tourism numbers in Kenya

KENYA – Mastercard, a global technology company, has signed a three-year partnership with the Kenya Tourism Board (KTB) which seeks to drive the growth of tourism numbers in Kenya by leveraging various Mastercard channels, including its Priceless.com platform. The collaboration which is the first-of-its-kind for Mastercard in Africa will enable KTB to plan, execute and improve its campaign reports through…

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Sanlam Investment Management launches retail unit trust targeted at investors

SOUTH AFRICA – Sanlam Investment Management (SIM), an investment company, has recently launched the SIM Flexible Income Fund, a retail unit trust targeted at investors with a one- to two-year time horizon. “A more flexible income fund offers more diversification benefits to clients and, as a result, the potential for better overall long-term results,” Melville du Plessis, Portfolio Manager for…

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Insurtech startup mTek secures US$3m investment from Finclusion Group

KENYA – mTek, an insurtech startup, has secured an additional US$3 million investment through both debt and equity from African-focused fintech platform, Finclusion Group. The startup had secured US$1.50 million (KSh170 million) investment from TrustGro- a non-deposit taking microfinance company to support the startup operations which primarily allows Kenyans access to paperless insurance products by partnering with local underwriters. The…

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