Inspiring Africa's Sustainable Business Growth
SOUTH AFRICA – South African startup Cape AI has been acquired by an AI solutions provider Spatialedge in order to scale its offering that makes such solutions available to large enterprises across Africa. Founded in 2019 by Pieter Boon and Adit Mehta, Cape AI helps businesses grow by enabling them to make smart decisions through the use of AI technology.…
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EGYPT – valU, an Egypt-based Buy-Now, Pay-Later (BNPL) lifestyle-enabling fintech platform, has announced the purchase of a minority share in local fintech company Kiwe, the first social payment app in Egypt that allows onboarding of the unbanked group. EFG Hermes Finance, EFG EV Fintech, dfin Holding, and Marakez are among the company’s current shareholders. The acquisition of a minority share…
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EGYPT – Egypt-based fintech startup Nexta has announced a US$3 million investment from e-finance, to prepare for its formal launch. In March of this year, Nexta also received a US$2.2 million pre-Seed round headed by Egypt-based fintech startup Disruptech, with participation from global investors. total amount raised since its inception last year is now at US$5.2 million. Nexta is a…
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NIGERIA – Bumpa, a social commerce platform that helps entrepreneurs build custom e-commerce websites, has raised US$4 million in seed funding led by Base10 Partners. The funding saw participation from Plug & Play Ventures, SHL Capital, Magic Fund, Jedar Capital, DFS Labs, FirstCheck Africa Angel Program, E62 Ventures, Club 14, and Fast Forward Ventures. According to a statement from the…
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NORTH AFRICA – MaxAB, a food and grocery B2B e-commerce and distribution platform that serves a network of traditional merchants in Egypt and Morocco, has announced the completion of a US$40 million pre-series B equity transaction to drive its development across the MENAP area. Silver Lake, the global leader in technology investing, through its Long Term Capital strategy; British International…
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AFRICA – Moove, a mobility startup that provides revenue-based car finance and financial services to mobility entrepreneurs, has secured a £15 million (US$16.73m) fund from Emso Asset Management to expand its operations in the United Kingdom. The African startup has a growing worldwide client base of mobility entrepreneurs and just started in the United Kingdom. Its first foray into Europe.…
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KENYA – Kenyan-Swedish electric vehicle manufacturer Roam has launched the first mass transit electric bus to ply various routes in Nairobi. The bus, which comes with a 77-passengers sitting capacity, can cover up to 360 kilometers before recharging. It targets public transport providers, schools, and private and Government institutions, providing them with an environmentally sustainable solution that is cheaper to…
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