Fintech startup OnePipe raises US$3.5m in seed funding round

NIGERIA – OnePipe, a fintech startup, has raised US$3.5 million in seed funding round as it looks to double down on its embedded finance strategy. The seed funding round was co-led by Atlantica Ventures, Tribe Capital and V&R Associates. The round also includes Canaan Partners, Saison Capital, Norrsken, The Fund and Two Culture Cap, while almost all existing investors participated, like Chris Adelsbach, Techstars, Ingressive Capital, Acquity, P1, Raba and DFS Lab. OnePipe, which raised a US$950,000 pre-seed round late last year, will use this latest capital to scale its…

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Fleet management startup, Fleeti, secures US$1.1m in seed funding

SIERRA LEONE – Fleeti, a start-up incubated at Estia and specializing in fleet management in Africa, has raised US$1.1 million from Newfund, Groupe Clim, Janngo, SkalePark, Mapinvest, and business angels. This funding will allow the company to speed up the technological development of their solutions and expand its reach into new markets. Founded in July 2020 by Iban Olçomendy and Gabriel Delerue (both EDHEC grads), Fleeti aims to help companies reduce their fuel consumption and improve the performance of their fleet. Its technology, which combines embedded sensors and SaaS software,…

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FinTech startup Hollydesk raises US$325k pre-seed funding to expand its services and solutions

EGYPT – Hollydesk, a financial technology startup based in Cairo, has raised US$325,000 in a pre-seed funding round led by the angel investor Faisal Abdel Salam in participation with other investors. The funding will help Hollydesk to scale and pursue further the horizontal expansion of its offerings. The startup further intends to expand its services and solutions in new markets in the region. “We seek to use the new funding to develop technologies for our solutions, assign new competencies within the team, and launch other services that will be announced…

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Insurtech startup Root secures US$3m seed funding for its expansion plans

SOUTH AFRICA – Root, a South African insurtech API startup that helps businesses and developers launch insurance products more quickly than the traditional approach, has acquired US$3 million in seed funding to expand outside of South Africa and establish the infrastructure for the global digital insurance industry. The round included venture capital firms Invenfin, Base Capital, Savannah Fund, P1 Ventures, Luno, and FireID, as well as several high-impact angel investors. “We’ve got quite a strong feeling that insurance is stuck in the 1900s. There’s still a lot of paper being…

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Zambian fintech startup Union54 closes US$3m seed funding

ZAMBIA – Fintech startup, Union54, has received another investment from Tiger Global, a leading venture capital firm. The US$3 million seed round, which was led by Tiger Global, is coming just two months after the startup graduated from the summer batch of Y Combinator’s program. Participants in the round include Ace & Company, Vibe VC, Todd & Rahul Angel Fund, and Runa Capital, a San Francisco-based venture capital firm. Union54 also received cheques from angel investors like Chief Executive Officer of Kuda Bank, Babs Ogundeyi; Wise’s former director of SMB Growth,…

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Startup Autochek closes US$13.1m seed funding round for West Africa expansion

NIGERIA – Autocheck, a Nigerian auto-tech startup, has raised a US$13.1 million seed funding round to bolster its core auto loan processing platform and deepen its footprint in West Africa. Autochek aims to build digital solutions that will enhance and enable a seamless and safe automotive commerce experience across Africa, starting with Nigeria and Ghana.  The firm plans to use technology to transform the automotive buying and selling experience for African consumers, by creating a single marketplace for consumers’ automotive needs, from sourcing and financing to after-sales support and warranties. The…

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Fintech Galaxy raises US$2m Seed funding, partners GIZ

MENA – Fintech Galaxy, the UAE-based open innovation platform, has raised US$2 million in Seed funding to further bolster the development and rollout of its Open Finance platform, as it looks to expand its reach and boost financial inclusion across key Middle East and North Africa (Mena) markets. The Seed round was led by Jordan’s Ahli Fintech and joined by Raz Holding Group, OMQ Investments, Egypt’s EFG EV Fintech and INSEAD Saudi Angel Investors. Fintech Galaxy is building an Open Finance platform, with a vision to redesign financial services with…

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Fintech startup Jumuisha secures seed funding round to accelerate product development

KENYA – Jumuisha, a fintech startup that helps churches and NGOs receive donations, make payments and manage events all in one place, has raised a round of seed funding to accelerate product development. The undisclosed amount of capital came from SprintX Venture Studio, based out of Austin, United States (US). Owned by 3pm Ventures, Sprint will also provide Jumuisha with business strategy, marketing and technology expertise to help it grow. “We identified the problem during the COVID-19 pandemic when the government mandated a reduction in the seating capacity of churches…

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Fintech startup Prospa closes US$3.8m pre-seed funding round to up its customer acquisition

NIGERIA – Prospa, a fintech startup, has closed a US$3.8 million pre-seed funding round to help it accelerate customer acquisition, expand its team with a focus on product and engineering and further develop its product suite. Prospa took part in the Y Combinator accelerator earlier this year, and the US$125,000 banked there is part of this US$3.8 million round, which the startup claims is the largest pre-seed amount yet raised by any Nigerian startup and was oversubscribed by 380 per cent. “At Prospa, we believe that successful small businesses can…

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Fintech Pezesha closes 7-figure seed funding for Africa expansion

KENYA – Pezesha, a Kenyan fintech startup that is creating an expansible lending framework for Small and Medium Enterprises and institutions, has raised a seven-figure seed extension round in a bid to expand further across Africa and fulfill its mission of facilitating access to affordable working capital for SMEs. The extension round was piloted by GreenHouse Capital, with on-lending liquidity support from Venture Garden Group which is a sister company to GreenHouse Capital. Founded in 2016, Pezesha is working hard to solve the continent’s US$82 billion in working capital and…

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