Inspiring Africa's Sustainable Business Growth
–
KENYA – Sendy, a Nairobi-based on demand logistics platform, has secured an investment from KMOL PLUS, a Tokyo based investor. This is the first investment by MOL PLUS in an African startup. Sendy operates a platform that connects logistics companies and shippers in Kenya and the rest of Africa. Connecting consumer goods manufacturers and e-commerce companies’ delivery needs with individual…
Read More
EGYPT – Sharwa, a social ecommerce platform, has announced the completion of a US$2 million pre-seed investment round to further build the technological platform and expand the team. Nuwa Capital and Hambro Perks Oryx Fund co-led the round, joined by many key angel investors. Founded in 2022 by Alaa Shalaby, Hassan Elshourbagi and Mohamed Hanafy, Sharwa offers customers low prices…
Read More
KENYA – Glovo, a leading multi-category delivery platform, has launched its third micro fulfillment center in Nairobi, Kenya, as the company expands its ‘Q-commerce’ division. Q-Commerce means that consumers can use Glovo to order from their favorite supermarkets and neighbourhood stores. The first micro fulfillment center was launched in June 2021, while the second was opened in June 2022, now…
Read More
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.…
Read More
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…
Read More
EGYPT – Kenzz, an e-commerce platform bringing shopping to the masses in Egypt and the Middle East, has announced a US$3.5 million seed round to expand its product categories, broaden the product categories on its platform, acquire people, and invest in technology when it releases its app. Outliers Venture Capital, a MENA-focused venture capital firm located in the United States,…
Read More
KENYA – Family Bank in Kenya, a commercial bank, is teaming up with mobility start-up BasiGo, to pre-finance the purchase of its electric buses. Family Bank wants to support mobility start-up BasiGo in promoting sustainable transportation, as part of its CSR (Corporate Social Responsibility) approach. The partnership will offer BasiGo’s electric bus customers a flexible financing option that includes covering…
Read More
EGYPT – Trella, a B2B trucking marketplace, has secured a further significant debt facility from ALMA Sustainable Finance (ALMA) and the US International Development Finance Corporation (DFC) to support the growth of its operations. ALMA’s debt financing, backed by the DFC guaranty, will support the expansion of Trella’s platform for MSME truckers in lower-middle-income countries Egypt and Pakistan, where MSMEs…
Read More
EGYPT – Roboost (formerly known as Tayar), Egypt’s delivery management system, has acquired a six-figure seed round of investment from Falak Startups, AUC Angels, and a follow-on funding from Flat6Labs. Roboost’s AI delivery management system will be improved, and its product portfolio will be expanded as a result of the new fundraising round, which will expedite the company’s growth. “We…
Read More
KENYA – KCB Foundation, a foundation by KCB Bank Group, and the United Nations Institute for Training and Research (UNITAR) are set to invest KSh38.7 million (US$0.32m) to promote the use of electric motorbikes by bodaboda riders in Kenya. The pilot phase will kick off in Nairobi, Kajiado and Machakos counties, and will see 150 motorcycle riders onboarded into the…
Read More