Fintech Flutterwave acquires digital online platform Disha to grow its base

NIGERIA – Flutterwave, a fintech company, has acquired digital online platform Disha, that enables digital creators to curate, sell digital content, portfolios and receive payments from their audience worldwide. Flutterwave’s acquisition aims to improve the process of digital content creation for Disha users, enabling them to earn value for their creativity using the platform’s new payouts and collections solution. Disha has acquired over 20,000 users organically over 12 months. The acquisition will help grow its base by providing users with the ability to make, receive and withdraw money from their…

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Startup Mecho Autotech secures funding to improve its business

NIGERIA – Mecho Autotech, an on-demand auto repair and maintenance platform for individuals and businesses has secured an undisclosed amount of funding from VC firm Ingressive Capital as it bids to improve the quality and reliability of auto care services. The funding also saw participation from Tekedia Capital Investment, and Mono’s CEO Abdul Hassan. The investment from Ingressive Capital, a Nigeria-based seed-stage investment firm, will help introduce the startup to large organisations and fast-track its growth. Mecho Autotech was co-founded by Olusegun Owoade and Ayoola Akinkunmi, and it was officially…

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Amethis acquires minority stake in technology & services provider Tarjama

MENA – Amethis, through its newly launched fund, Amethis MENA Fund II (AMF2), has completed its second transaction, acquiring a minority stake in Tarjama. Founded in 2008 by Jordanian entrepreneur Nour Al Hassan, Tarjama is a language technology & services provider in the MENA region. The company has developed proprietary language technology products including a best-in-class Arabic-focused machine translation engine as well as Cleverso, its high-performing translation management system. “Our investment in Tarjama exemplifies our strategy of backing exceptional and growth-focused entrepreneurs operating successfully in fast-growing sectors. We are excited…

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Denny Marandure appointed as CEO for Liquid Intelligent Technologies’ Raha Limited

TANZANIA – Liquid Intelligent Technologies has announced the appointment of Mr. Denny Marandure as the Chief Executive Officer (CEO) for Raha Limited, Tanzania. Denny Marandure joined Liquid in 2014 as the CEO of ZOL Zimbabwe until 2019 when he moved to Liquid South Africa as Group Executive Cloud and Digital Sales and then subsequently as Group Executive Enterprise Sales. “Denny is a proven senior executive who has the vision, strategic thinking, leadership and energy to successfully drive our Tanzania operations to newer heights of excellence,” Adil El Youssefi, Regional CEO…

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Blockchain startup NFTfi raises US$5m seed round to expand its platform

SOUTH AFRICA – NFTfi, a blockchain startup, has raised US$5 million in a seed round to continue pioneering the financialization of NFTs. The round was headed by 1kx, with participation from Ashton Kutcher’s Sound Ventures, Maven 11, Scalar Capital, Kleiner Perkins, and others. NFTfi intends to use the new funding to expand its workforce, introduce new product features, expand the platform to other blockchains, invest in its community, and fund its decentralization. “Our main focus is that we want to do for NFTs what DeFi did for cryptocurrencies. As soon…

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VoxCroft Analytics raises US$2m Series A funding from Knife Capital

SOUTH AFRICA – VoxCroft Analytics, an open-source intelligence company, has raised close to US$2 million in Series A funding from Knife Capital, a South African venture capital company specialized in helping brands build a global presence. VoxCroft Analytics will use the funding to expedite its already-rapid expansion in the United States and other international markets. Founded in 2018, VoxCroft specialises in open-source intelligence (OSINT), an oft-neglected source of insight differentiated from the other forms of intelligence such as human intelligence (HUMINT) or signals intelligence (SIGINT) in that it relies on…

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Fintech startup Ozow raises US$48m Series B funding round for expansion

SOUTH AFRICA – Ozow, a South African fintech company, has raised a US$48 million Series B funding round to help it further develop its product offering and expand into new markets. Ozow, which rebranded from i-Pay in April 2019 as it zeroed in on assisting Small and Medium Enterprises (SMEs) with payments, was launched in November 2014 by Thomas Pays, Mitchan Adams, and Lyle Eckstein, who identified a need for an efficient and secure online payment system in the local market. The company enables millions of merchants and consumers with…

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Kenya’s edtech startup Craydel raises US$1m for Africa expansion

KENYA – Education technology startup Craydel has announced it has raised US$1 million to expand outside of Kenya to serve more students on the continent. The funding will also be used to improve its search and recommendation engine, enhance its proprietary online career resources and technology. Founded by ex-WPP Scangroup Executive Manish Sardana, John Nguru, and Shayne Aman Premji, Craydel the web-based platform allows working professionals and students to select courses from a large pool of local and international universities. Users are also able to compare the cost of studying…

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EdTech company OTO secures US$400,000 from EdVentures to expand its services

EGYPT – EdVentures, a corporate venture capital that invests in startups, has invested US$400,000 in cash and in-kind services in Egyptian digital learning platform OTO, in an attempt to enhance distance learning methods and support startups in Egypt and the Arab world. The goal of this investment is to develop the company’s platform and further expand its services to include a larger segment of users, especially middle and secondary school students by delivering educational programmes in a variety of areas/subjects. This, in turn, will reflect on the educational experience that…

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Tech startup Adbot secures US$500k in funding to expand its userbase

SOUTH AFRICA – Adbot, a startup that provides online advertising solutions for owners of small and medium-sized enterprises (SMEs) in Africa, has announced a ZAR7 million (US$500,000) capital raise from Enygma Ventures to help it expand its user base. The funding round comes from Enygma Ventures, a ZAR100 million (US$6.8 million) investment fund for female entrepreneurs and women founders focused on Southern and Eastern Africa, launched in late 2019. Launched in 2019, Adbot empowers small business owners with simple and supportive tools for success, giving them access to new markets…

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