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,…

Read More

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…

Read More

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…

Read More

Mobilty startup Treepz closes seed round, acquires Uganda’s Ugabus

NIGERIA – Treepz, a Nigerian shared mobility startup, has closed out its seed round at US$2.8 million and expanded to Uganda with the acquisition of bus company Ugabus. The startup raised a further US$1.6 million in funding, closing its seed round at US$2.8 million, with additional funding coming from the Google for Startups Black Founders Fund Africa, Japanese VC firm Uncovered Fund and Dubai-based VCs including Blanford Capital and Jonomi Capital. Egypt-based fund Jedar Capital also participated in the round with follow-on investments from previous investors. The startup earlier this…

Read More

Blockchain startup NFTfi raises US$5m seed round to expand its platform

SOUTH AFRICA – NFTfi, a blockchain startup, has raised US$5 million in a seed round to continue pioneering the financialization of NFTs. The round was headed by 1kx, with participation from Ashton Kutcher’s Sound Ventures, Maven 11, Scalar Capital, Kleiner Perkins, and others. NFTfi intends to use the new funding to expand its workforce, introduce new product features, expand the platform to other blockchains, invest in its community, and fund its decentralization. “Our main focus is that we want to do for NFTs what DeFi did for cryptocurrencies. As soon…

Read More

PraxiLabs’ Khadija Elbedweihy emerges winner of 2021 Africa’s Business Heroes

AFRICA – Africa’s Business Heroes (ABH), a flagship philanthropic programme established by the Jack Ma Foundation to help foster an inclusive and vibrant entrepreneurial ecosystem in Africa, has announced its winners for 2021 with US$1.5 million in grant funding awarded to the top 10 finalists. The Top 10 represent seven African countries, with 80% operating businesses in rural areas and half of the finalists are female. The top three Africa’s Business Heroes for 2021 were; Khadija Mohamed Elbedweihy – Founder, PraxiLabs (Egypt) who was 1st therefore winning US$300,000; Ikenna Nzewi…

Read More

Fintech startup KIWE closes first investment round to drive up its growth

EGYPT – KIWE, an Egyptian fintech startup, has closed its first investment round, to drive the startup’s growth by utilising the offerings of its investors. The round was led by dfin Holding with participation from EFG Hermes, Marakez for Development, and a group of angel investors. The investment will be used “We are strong believers of empowering freelancers and business owners by helping them identify their targets, level up their customer experience and accept online and offline payments,” part of a statement by the company said. “Our vision is for…

Read More

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…

Read More

Mobility startup Shuttler raises US$1.6m seed round to scale its operations across Africa

NIGERIA – Shuttlers, a tech-enabled mobility startup, has raised a US$1.6 million seed round and shared plans to scale operations across cities in Africa. The seed round led by VestedWorld, a Chicago-based, Africa-focused venture capital company, and also featuring Interswitch, Rising Tide Africa, Launch Africa Ventures, EchoVC Partners, CMC 21, Alsa, ShEquity, Five35, Consonance, CcHub Syndicate, Sakore, and Nikky Tarus. “These are exciting times for us at Shuttlers, and I will like to take the opportunity to thank our investors for believing in what we are building,” said Olokesusi. “This…

Read More

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…

Read More