AppZone acquires switching license from the Central Bank of Nigeria

NIGERIA – Appzone, a sub-Saharan African payment infrastructure company, has been granted approval in principle by the Central Bank of Nigeria (CBN) to operate under the switching and processing license category. The switching license would allow the company to directly interact and collaborate with key payment stakeholders, including the Nigeria Central Switch hosted by the Nigerian Interbank Settlement System (NIBSS),…

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Agri-tech startup Nile raises US$5m equity funding led by Naspers Foundry

SOUTH AFRICA – South African agri-tech startup Nile, which enables buyers to purchase directly from Africa’s leading food producers through its marketplace, has raised a ZAR83 million (US$5.1 million) equity funding round led by Naspers Foundry. Nile was founded in 2020 to provide farmers with digital solutions that can address various pain points inherent to food trading – including price…

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Software startup Bamba secures US$3.2m seed fund to scale its app

KENYA – Bamba, a mobile-first enterprise software for micro-merchants in Africa, has secured US$3.2m in seed funding to scale its app and build its team. Venture capital firm 468 Capital led the round with participation from Presight Ventures, Jigsaw VC, and high-profile angels Mato Peric, Leonard Stiegeler, Laurin Hainy and Thomas Stafford. Ex-Wells Fargo exec says the company held ‘fake…

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Egyptian healthcare startup Doxx raises US$1.5M in a seed round for expansion

EGYPT – Doxx, an Egypt-based healthcare startup, has raised US$1.5 million in seed round and plans to expand to close the loop on patients’ requirements while becoming the preferred app for doctors and patients. Following the seed funding led by VC Openner and Elevate, the start-up has launched first fully integrated digital platform in the MENA region connecting medical professionals…

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Skaleet partners Mobiblanc for cutting-edge technology to serve banks across Africa

MOROCCO – Skaleet, an international fintech providing a next-generation Core Banking Platform (CBP), has partnered with Mobiblanc, an Agile Digital Services Enterprise (ESN), to offer turnkey solutions to financial institutions across Africa. The partnership will ensure that financial institutions have the capacities to launch new digital and innovative financial solutions that they can provide to their customers, whether businesses or…

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Fintech startup FlexPay raises funding to help in its growth plan

KENYA – FlexPay, a Kenyan fintech startup, has raised funding from the Cairo Angels Syndicate Fund CASF), a micro venture capital fund that invests in early-stage startups in the Middle East and Africa as it looks to supercharge its growth and help more people avoid debt. FlexPay is an online and offline payment gateway that allows merchants to offer interest-free targeted…

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Kenyan-based health tech startup Zuri Health secures US$1.3m funding for its expansion plans

KENYA – Zuri Health, a Kenyan-based health tech startup offering mobile-based healthcare, has received US$1.3 million funding to expand across Africa. The digital healthcare company has completed a funding round attracting investment from DOB Equity, Launch Africa, and Founders Factory Africa to expand across Africa. Zuri Health connects mass-market patients with healthcare services via SMS, WhatsApp, and a dedicated app. The company initially…

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Egypt’s Instabug closes US$46M series B round to eliminate bugs within Apps

EGYPT – Egypt’s software company that provides bug reporting, and app performance monitoring, Instabug, has closed US$46 million in series B funding round to eliminate bugs within Apps The funding round was led by global software investor Insight Partners, with participation from current investor Accel and new investors Forgepoint Capital and Endeavor. The raise comes just over two years after…

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Nigerian healthtech start-up, Carepoint bags US$10M for African expansion

NIGERIA – Pan-African technology-driven healthcare startup, CarePoint has secured a US$10 million bridge round to accelerate its growth across Africa. The latest funding round was led by TRB Advisors and brings the total funding raised by CarePoint to US$30 million. It follows a US$18 million Series A round announced  mid-November last year. New and existing investors that took part in…

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IFC partners with pharmaceutical producer, Rameda to green its operations in Egypt

EGYPT – The International Finance Corporation (IFC), a member of the World Bank Group, has partnered with Egyptian pharmaceutical producer, Rameda to support the company’s strategy to green its operations Through the partnership, IFC will help Rameda adopt solutions that reduce its carbon, and water footprints, and improve efficiencies in materials and resource usage. As a growth-focused enterprise that produces…

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