Nigerian startup Rísé.ng secures US$150k pre-seed funding to launch in Nigeria

NIGERIA – Nigeria-based E-commerce Rísé.ng, has raised US$150,000 in a pre-seed round as it prepares to establish its operations in the country. Rísé.ng was founded in 2019 by Olawunmi Oyedeji to revolutionize service delivery by focusing on low-income earners, notably artisans and sellers who do not have access to digital/online awareness. The startup will use the funds to launch in…

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Egyptian e-commerce platform ON Market raises US$215k pre-seed round for expansion

EGYPT – Egyptian e-grocery marketplace, ON Market has raised US$215,000 pre-seed round from angel investors to expand into major cities in Egypt. The round was led by Yasser AlGhamdi to help the firm expand into Cairo, Alexandria, Tanta, and Mansoura, as well as scale its technology solutions. Founded in June 2020 in Tanta, by Moatasem Marzouk, Seif Yasser, Ahmed Najjar,…

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Egypt’s FlapKap raises US$1.2M seed round to fuel growth in the MEA region

EGYPT – Egyptian start-up FlapKap, which specializes in e-commerce solutions, has raised US$1.2 million in its latest funding round to expand into new markets and improve its technology. The round was led by Egypt-based early-stage venture capital firm A15 a top MENA venture capital firm, and one of the most prominent backers of early-stage start-ups in the region. FlapKap is…

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E-commerce startup Sokowatch raises US$125M series B funding, rebrand to Wasoko

AFRICA – African start-up Sokowatch, an online supplier of goods to micro retailers, has closed a US$125 million Series B funding round as it rebrands to Wasoko. The latest round of funding was led by Tiger Global and Avenir Growth Capital to enable the e-commerce to expand further into Senegal and Ivory Coast markets. Initially launched in Kenya by founder…

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E-commerce company Sendy partners SME Support Center for logistics support

KENYA – Sendy, a technology company that builds infrastructure for e-commerce and consumer brands has partnered with the Small and Medium Enterprise [SME] Support Centre to offer logistics support to online traders. The startup is using its supply-chain expertise to help over 5000 minimarts in Nairobi revive their operations through a third-party credit financing program and fulfilment operations. Mini Marts…

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E-commerce platform Tololi secures US$16,789 from Namibia Business Angel Network

NAMIBIA – The Namibia Business Angel Network (Naban) has announced that it will invest N$250,000 (US$16,789) in the Namibian e-commerce platform Tololi to improve its digital infrastructure, grow the team, and increase marketing activities. This is the network’s first investment since its inception and follow’s Tololi’s founder Fillemon Nangolo’s participation in a Naban pitch event in June 2021, which piqued…

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E-commerce company Copia Global secures US$7.5m investment from DEG

KENYA – DEG, a development finance institution and a subsidiary of KfW Group, has invested US$7.5 million in Copia Global, an e-commerce company in East Africa. The new capital will allow the company to grow its core business, drive its pan-African expansion and add integrated financial services to its product portfolio. “We are investing in Copia because their special mobile…

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E-commerce platform Brimore secures US$25m Series A round to expand across the continent

EGYPT – Brimore, a Cairo-based social e-commerce platform connecting suppliers to community sellers, closed its Series A round of US$25 million. The round was led by the International Finance Corporation (IFC) and Endure Capital with participation from Fawry, Flourish, Endeavor Catalyst Fund and existing Brimore investors including Algebra Ventures, Disruptech, Khawarizmi Ventures and Vision Ventures. The fresh funds will be…

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E-commerce company Slash.ng launches first online escrow marketplace

NIGERIA – Slash.ng, an e-commerce company based in Nigeria, has launched an online escrow marketplace where buyers and sellers connect to complete and secure transactions. Slash.ng was founded by Hakeem Abogunde a software engineer with extensive marketing and business development skills. His passion for e-commerce led him to develop long-term solutions to the major challenges confronting e-commerce in Nigeria and…

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E-commerce platform ExpandCart raises US$2m Pre-Series B to expand its current market

MENA – ExpandCart, the Middle East and North Africa’s leading e-commerce platform, has raised US$2.7 million in a Pre-Series B bridge deal headed by Hong Kong’s Betatron Venture Group, with participation from previous investors Sawari Ventures in Egypt and Agility Ventures in Kuwait. The new round of funding will help ExpandCart expand in current markets while focusing on R&D, technology…

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