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Fintech startup Nexta secures US$3m investment to prepare for its formal launch

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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Data provider startup Stears closes US$3.3m seed round to enhance its business

NIGERIA – Stears, a pan-African data and intelligence company, has closed a seed round of US$3.3 million led by MaC Venture Capital with participation from Serena Ventures, Melo 7 Tech Partners, Omidyar Group’s Luminate Fund, Cascador, and Hoaq Club. Stears was also recently accepted into the Google for Startups Black Founders Fund 2022 cohort, which included some non-dilutive funding. The…

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DEALSTREET; CardoO raises US$660K seed round, Livestock Wealth secures US$55k funding, Solutech expands presence across 8 African countries, Cryptyd Raises new funding

Egypt-based IoT devices manufacturer CardoO raises US$660K seed round EGYPT – CardoO, an Egyptian based startup, has managed to attract its seed investment round, which amounted to US$660,000 dollars, led by The Alexandria Angels, with the participation from Sofico Investments, angel investors from Saudi Arabia, and the European Bank for Reconstruction and Development (EBRD). CardoO CEO noted that this investment…

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South African startup Talk360’s seed funding hits US$7m after new backing

SOUTH AFRICA – Talk360, a South African Voice over Internet Protocol (VoIP) firm, has secured an additional US$3 million months after the first closing of its seed round, bringing the total investment garnered in the round to US$7 million. Allan Gray E2 Ventures (AGEV), Kalon Venture Partners, E4E Africa, Endeavor, current lead investor HAVAC, and a number of angel investors,…

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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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Michael Joseph lends his expertise to Kenyan insurtech startup Pula, to lead its board

KENYA – Kenyan agriculture digital-insurance startup, Pula, has announced the appointment of Michael Joseph, the former Safaricom PLC Chairman and CEO, as the new Chairman of its Board effective September 19. Pula is an agricultural insurance and technology company that designs and delivers innovative agricultural insurance and digital products to smallholder farmers. “I am very pleased to welcome Michael Joseph…

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Nigerian ecommerce startup SABI partners Vumele to launch its services in South Africa

SOUTH AFRICA – SABI, an early-stage start-up with ambitious plans to aid millions of merchants across Africa, Sabi, has opened an office in Johannesburg, South Africa to tap into the US$9 billion informal economy. Moreover, the Nigerian startup has partnered with Vumele, a South African technology platform, to extend its reach and services to South Africa’s informal economy. Sabi helps…

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Egyptian restaurant tech startup OneOrder receives US$6.5m from Contact Factoring

EGYPT – OneOrder, Egyptian online one-stop shop that provides food supplies to hotels, restaurants and cafes, has secured a EGP125 million (US$6.5 million) working capital facility from Contact Factoring, a subsidiary of Contact Financial Holding, a leading non-banking financial services company. Founded by leading Egyptian restaurateur Tamer Amer – the founder of Fuego Sushi and Longhorn Texas BBQ, two of…

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Egyptian Food-tech startup Bonbell seeks US$10m in seed funding

EGYPT – Egyptian Food-tech startup specializing in food ordering, digital solutions for table and meal reservations, Bonbell, has closed an initial funding round for US$350,000 through a Canadian Angel investor, to help further develop the App services and achieve a level of growth in regard to user count and daily orders. Bonbell launched its own App in early 2022, to…

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Senegalese startup SociumJob secures US$1m to pursue Francophone Africa talent market

SENEGAL – SociumJob, a Senegalese job network that connects African firms with local and diaspora talent, has raised one million euros (US$1M) to enhance its rollout in French-speaking Africa. The funds were raised between February and May 2022, one million euros (US$1M) from venture capital funds such as Breega, Teranga Capital, Kima Ventures, Techmind, and Evolem Start. Business angels such…

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