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Inspiring Africa's Sustainable Business Growth
EGYPT – Cartona, an Egyptian B2B ecommerce platform, has closed a US$12 million Series A round led by Silicon Badia, a venture capital firm that invests in global technology entrepreneurs. The seed round saw active participation of the SANAD Fund for MSME, an impact investment fund dedicated to assisting entrepreneurs in the Middle East and North Africa. Arab Bank Accelerator…
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KENYA – Kenyan startup Duhqa, a B2B platform for retail distribution of consumer goods in FMCG, Cold Chain and Pharmaceuticals, has closed a US$2 million Seed round to scale its service offering within Kenya and East Africa. The funding round saw participation from CrosssFund, Roselake Ventures, and Mo Angels. It also featured existing investors which include Techstars and strategic angels.…
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KENYA – MarketForce, a Kenyan B2B retail and financial services distribution startup, has closed a US$40 million Series A round to scale its merchant super app, RejaReja, across the continent. The round was led by V8 Capital Partners, a London and Lagos-based African-focused investment vehicle, with participation from Ten13 VC, SOSV Select Fund, Vu Ventures and Vastly Valuable Ventures. It…
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MOROCCO – Sle3ti, a Casablanca-based B2B marketplace that allows retailers to order directly from suppliers and distributors of consumer goods (FMCG), has raised 12 million DH (US$3.2m) from the investment fund of the Richbond Group. Sle3ti will be able to expedite its rollout across Morocco’s regions and provide high added value services to merchants and its FMCG partners as a…
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EGYPT – Talabeyah, a Cairo-based startup that provides B2B e-commerce services for food and groceries, has raised a seven-figure pre-Seed round from strategic angel investors. The startup, which was launched in July 2020 by Karim Nassef, Amr Abbas, Khaled Hussein, and Adel Hodroj, has leveraged its supply chain model and purchase experience by establishing a customer-centric business, due to its founders’ extensive experience…
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NIGERIA – Verto, a B2B payments platform that provides a fast, simple, and reliable way for small and medium-sized enterprises (SMEs) to make payments to their suppliers in over 200 countries across 39 currencies, has raised a US$10 million Series A round to boost its geographical expansion. The funding round was led by Quona Capital, alongside The Treasury, Middle East…
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EGYPT – Cartona, a business to business (B2B) startup connecting retailers to manufacturers and wholesalers, has closed a US$4.5 million Pre-Series A funding round to help it invest in new technology, launch new products and expand across the country. The funding round was led by Global Ventures, a Dubai-based, international venture capital firm, with participation from Kepple Africa Ventures, T5…
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EGYPT – Capiter, a B2B e-commerce startup which brings together manufacturers, brands, wholesalers and retailers on one platform, has raised a US$33 million Series A funding round to power its rapid expansion into digital financial services and additional markets. Capiter is planning on providing more digital financial services and expanding into overseas markets after raising a US$33 million Series A…
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NIGERIA – Sabi, a B2B startup serving Africa’s informal sector, has secured a seed funding round as it announces the milestone of over 150,000 small business users on its platform. According to the startup, the raised fund will be deployed in growing its network across Nigeria, thus onboarding new sales merchants. The funding round saw backing from investors including Atlantica…
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GHANA – Plendify, an e-commerce startup, has launched a business to business (B2B) e-commerce marketplace to connect customers with small and large African wholesalers, manufacturers, exporters, and importers. Plendify is a Pan-African B2B Marketplace for small and large African wholesalers, manufacturers, exporters and importers. The startup also provides a business directory of leading suppliers in Africa and also enables buyers…
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