Mobility 54 invests in transport companies Fleetsimplify and Drive to Own

AFRICA – Mobility 54 Investment SAS, the corporate venture capital subsidiary of Toyota Tsusho Corporation and CFAO SAS, has invested in Fleetsimplify Inc. and Drive to Own Pty Ltd. Fleetsimplify operates a management platform for the owners of ride-hailing business vehicles in Kenya, while Drive to Own engages in the vehicle finance business in South Africa. The two companies were…

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Fintech startup Numida raises US$12m pre-series A round to expand into new markets

UGANDA – Ugandan fintech startup Numida, which uses proprietary credit models and tech-enabled underwriting processes to provide unsecured working capital loans to African micro and small businesses (MSBs), has raised a US$12.3 million pre-Series A round of equity and debt funding to help it expand its team and move into new markets. Serena Ventures leads the US$7.3 million equity portion…

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Moroccan-based investment firm UM6P Ventures backs Infiuss Health

MOROCCO – UM6P Ventures, an early-stage venture capital firm, has announced its investment in Infiuss Health to improve clinical trial participation and health equity in Africa. Infiuss Health provides clinical trial access to African participants and allows pharmaceutical companies to conduct and monitor these trials via the Infiuss Health Probe Platform. Through a single dashboard, the all-in-one software platform helps…

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Fintech startup Chari secures US$1m from Endeavor Catalyst to strengthen its expansion plan

MOROCCO – Chari, a B2B e-commerce and fintech startup, becomes the first Moroccan startup to receive US$1 million (10.9 million MAD) from Endeavor Catalyst, an investment fund that is part of the Endeavor network. Endeavor Catalyst’s investment is part of Chari’s Serie-A round. This funding round allows the Moroccan startup to strengthen its continental expansion and begin its shift to…

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CrossBoundary Energy Access, ENGIE to build US$60m mini-grids in Nigeria

NIGERIA – CrossBoundary Energy Access Nigeria (CBEA) and ENGIE Energy Access Nigeria (ENGIE) have announced a project finance agreement to build a US$60 million portfolio of mini-grids that will connect over 150,000 people to electricity in Nigeria. ENGIE has developed a pipeline of mini-grids to build over the next four years. As part of the agreement, CBEA will finance all…

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B2B trucking marketplace Trella secures debt facility from Contact Financial Holding

EGYPT – Egyptian B2B trucking marketplace Trella has secured a significant debt facility from Contact Financial Holding, the leading Egyptian non-banking financial services company, to expand its business in a number of ways. The two companies are partnering up through four different subsidiaries within Contact – Contact Factoring, Contact Leasing, Contact Credit, and Contact Creditech. Each agreement provides a tailored…

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BMCE Capital Investment launches its first venture capital for Moroccan startup

MOROCCO – BMCE Capital Investment, part of the BMCE Capital Group, has announced the launch of its first venture capital dedicated to financing Moroccan startups. The new MAD 50 million (US$4.5 million) fund underlines BMCE Capital Group’s plan to support Moroccan startups in the seed phase. Over the upcoming months, the fund is set to raise money from renowned Moroccan…

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Proptech firm Partment concludes US$1.5m pre-seed round to improve its platform

MEA – Partment, a proptech firm that provides co-owned second homes, has announced that it has successfully concluded its pre-seed round at US$1.5 million to improve the infrastructure of the platform and launch its MVP in Egypt. Nclude, a leading venture capital platform focused on investing in fintech and fintech-enabled startups in Egypt, the Middle East, and Africa, as well…

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Digital identity startup iiDENTIFii secures US$15m in funding to expand face biometric authentication

SOUTH AFRICA – iiDENTIFii, a South African-based automated platform that provides a remote digital biometric identity authentication process, has raised US$15 million in growth capital. The round was led by African investment company Arise whose cornerstone investors include Rabobank Partnerships, Norfund, NorFinance and FMO. This is, to date, the largest African Series A in the identity verification space. “I’m incredibly…

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Tunisian startup Kumulus raises US$0.97m pre-seed funding to further improve its product

TUNISIA – Kumulus, a Tunisian startup that extracts drinking water directly from the air, has successfully closed a €1 million (US$0.97m) pre-seed funding round to further improve its product and even deliver its first pre-ordered copies. Several institutional investors participated in the round, including Paris Techstars Accelerator, Flat6Labs, WILCO and Bpifrance, and business angels. Kumulus is a company that operates…

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