Endeavor raises US$8m for its Harvest Fund to fund startups in South Africa

SOUTH AFRICA – Endeavor South Africa, a community of high-impact entrepreneurs, has raised R130 million (US$8.19m) to date in its Harvest Fund II, doubling the fund size since its first close in late February. The firm says the fund is on track to be fully invested by 2022, a year ahead of plan, and has invested in six technology companies to date, with a further four in the immediate pipeline. Harvest Fund II is a founder-aligned, rules-based fund, investing in a vetted pipeline of medium-sized, high-growth Endeavor Entrepreneurs. The fund…

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Endeavor appoints Heba Ali as its new Managing Director of Egypt

EGYPT – Endeavor, the global community of high-impact entrepreneurs, has announced the appointed Heba Ali as its new Managing Director of Egypt. An investor, development economist and business strategist, Heba has been a pioneer in her field since 2007. Throughout her career, Heba has focused on high-impact entrepreneurship, venture capital investment, business model and institutional innovation, and building strategic partnerships; with the last positions held being Founding Managing Director of Egypt Ventures and Founding Vice Chairwoman of Falak Startups. “The Egyptian market is an incredible source of inspiration, and the…

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Cybersecurity start-up Sendmarc secures funding from Endeavor South Africa

SOUTH AFRICA – Sendmarc, a cybersecurity email protection and compliance start-up, has secured funding from Endeavor South Africa as it looks to scale more quickly. The amount of the investment funding was not disclosed. Launched in 2018 by Sam Hutchinson, Keith Thompson, and Sacha Matulovich, Sendmarc provides the setup, implementation and reporting functionality for a global email protection standard known as DMARC.  This protocol is designed to give email domain owners the ability to protect their domains from unauthorised use, such as impersonation attacks or email spoofing and by accelerating the implementation…

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South Africa’s FlexClub secures another US$5m in funding to scale its operations

SOUTH AFRICA – South African car subscription marketplace FlexClub, has added a further US$5 million in equity and debt funding to the US$S1.2 million it raised in 2019 to help it scale. Formed in November 2018, FlexClub is a managed marketplace that simplifies investing in cars rented to people using gig platforms to earn a living and essentially allows users to purchase vehicles which are then matched with Uber drivers who pay a weekly rental charge to the investor. In 2019, the marketplace announced a partnership with Uber, offering commercial car subscriptions to…

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Founders of Kenyan startup Copia join global Endeavor network to help scale their business

KENYA – Three entrepreneurs behind Copia, a Kenyan consumer goods catalogue and delivery service, have been selected to join Endeavor Network, a non-profit organisation that supports high-impact entrepreneurs around the world, to gain access to various support services to help them scale their businesses. The three — Tim Steel, Crispin Murira and Tracey Turner are part of 37 high-impact entrepreneurs leading 21 companies from 15 markets that the organisation selected at Endeavor’s 90th International Selection Panel (ISP) held in Atlanta, Georgia, from 23 to 25 September. The Endeavor initiative, which…

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