B2B marketplace Sabi secures US$6m to support its growth

NIGERIA – Sabi, a B2B marketplace serving the informal sector, has received US$6 million bridge round led by CRE Venture Capital to support its continued fast-paced growth in Nigeria and beyond. This bridge round financing will help fuel the company’s rapid growth as it eyes new markets including South Africa, which is also home to a multi-billion dollar informal sector. Sabi’s bridge round follows the company’s seed round closed in mid-2020 which also attracted leading international investors including Janngo Capital, Atlantica Ventures, and Waarde Capital. “We are excited to have…

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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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Transport company DKN Transport secures funding from Edge Growth for its expansion plans

SOUTH AFRICA – Edge Growth, through the Engen Convoy Fund, an Enterprise and Supplier Development Fund to promote broad-based black economic empowerment (B-BBEE), has invested in DKN Transport, a level 1 B-BBEE contributor with a 30% black female shareholding. Through this funding, DKN will be able to expand their fleet size and market offering, with additional job creation as a result. Headquartered in Johannesburg since 2004, DKN Transport provides road freight logistics solutions across various industries, nationally and cross-border into Africa. “Traditional logistic companies are still critical enablers to achieving…

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Fintech startup Asilimia raises US$2m funding to expand its footprint

KENYA – Asilimia, a Kenyan-based fintech startup that is building the digital infrastructure to connect African MSMEs to the formal financial economy, has secured US$2 million to grow its team, deliver new services and expand into new markets in East Africa. The startup raised US$1 million in pre-seed funding from a wide range of investors, including two-time unicorn founder, Fredrik Jung Abbou (co-founder of Kry and Lendo), Norrsken Impact Accelerator, and other prominent founders from across Europe. It also raised US$1 million in a debt round that included Bpifrance and…

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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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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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Aboki Africa startup raises pre-seed funding to scale up its product

NIGERIA – Aboki Africa, a money transfer startup, has raised an undisclosed round of pre-seed funding to help it expand its team and scale its product. The startup’s pre-seed funding round was led by Mr Abdul Hassan, CEO of fellow Nigerian fintech Mono, and also includes Niche Capital, Ingressive Capital, Decimal Point Ventures and other strategic investors. The capital will be invested in scaling its product and expanding its core team. “We built Aboki Africa out of necessity. I have had personal experiences with the pain points we are trying…

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Fintech startup Kippa secures US$3.2m for its small business finance management app

NIGERIA – Kippa, a startup that has financial software for small businesses in Africa, has secured US$3.2 million in pre-see funding in a bid to improve the lifespan of small businesses in Nigeria with its finance management app. The financing round was led by Berlin-based VC Target Global, and other participating VCs like Entrée Capital, Alter Global and Rally Cap Ventures. The startup has also seen investors like — Babs Ogundeyi, Kuda CEO, an investor in Khatabook; Sriram Krishnan, CEO; Chris Bouwer, Raffael Johnen, Auxmoney; and other investors like, Kyane…

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Career 180 secures US$200K from VC EdVentures to establishing new employment platform

EGYPT – EdVentures, a corporate venture capital (VC), has announced a US$200,000 investment in Career 180, a centralized and comprehensive career advising platform. The investment was done with the goal of establishing a new employment platform and merging it with the Freelance Yard to create an integrated platform that provides adolescents with employment and qualifying services across all job types. “We aim to create a comprehensive online platform that qualifies youth to the job market and facilitates their hiring at multinational, local companies and startups, through offering hundreds of online…

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Marketplace Aura secures US$4m Series A funding for its expansion plans

SOUTH AFRICA – AURA, an African-based security and medical response marketplace, has secured US$4 million in a Series A funding round, which was led by MultiChoice Group (MCG), KLT Holdings and Buffet Investments. This positions AURA security and medical services favourably for its global expansion plans. Founded in 2016 by Warren Myers, Ryan Green and Adam Pantanowitz, AURA leverages artificial intelligence to enable access to private/public security and medical response units from any location. “South Africa has one of the most advanced private security and emergency response industries which has…

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