Venture Capital
Venture Capital

IFC launches $225M venture platform to back startups in Africa, Central Asia, Middle East

The International Finance Corporation (IFC) has launched a $225 million venture capital platform to back early-stage startups in Africa, Middle East, Central Asia and Pakistan. The fund, announced in a statement on Tuesday, will make equity and “equity-like” investments in tech startups to “grow them into scalable ventures that can attract mainstream equity and debt […]

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Finance Startups Technology Venture Capital

Nigerian B2B fintech, Duplo, raises $4.3 million in seed round

Duplo, a Nigerian B2B payments startup, has raised $4.3 million in seed funding. This comes only seven months after the company announced a $1.3 million pre-seed investment, bringing its total funds raised to $5.6 million. According to the company, the funds will be used to launch new products and expand into new business areas in […]

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Startups Technology Venture Capital

Pezesha, a Kenyan Fintech, raises $11M with backing from Women’s World Banking, and others

Following an $11 million pre-Series A equity-debt round led by Women’s World Banking Capital Partners II and with participation from Verdant Frontiers Fintech Fund, cFund, and Cardano blockchain builder Input Output Global, Kenya’s embedded finance fintech Pezesha expands into Nigeria, Rwanda, and Francophone Africa (IOG). Talanton and Verdant Capital Specialist Funds also contributed $5 million […]

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Startups Technology Venture Capital

Nigerian fintech startup, Grey, raises $2 million in seed funding

Grey, a Nigerian fintech startup, has raised $2 million in seed funding to expand into new African markets. According to the one-year-old company, the funding will also allow it to expand its product suite to include remittances and person-to-person and business-to-business payments, allowing every African to enjoy seamless cross-border payments with low fees. Y Combinator, […]

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Startups Technology Venture Capital

Nigerian Banking-as-a-Service startup, Anchor, raises $1 million in pre-seed funding

Anchor, a Nigerian Banking-as-a-Service fintech startup, has raised $1 million in pre-seed funding. The Y Combinator-backed startup will use this investment to attract the best talent, improve the company’s tech infrastructure, invest in compliance and regulatory infrastructure, and acquire customers. Byld Ventures, Y Combinator, Luno Expeditions, Niche Capital, Mountain Peak Capital, and angel investors such […]

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Startups Technology Venture Capital

Omnibiz, a Nigerian B2B e-commerce platform raises $15million in its pre-series A fund

Omnibiz, a Nigerian B2B e-commerce company, announced the completion of a $15 million pre-Series A round comprised of $5 million in equity and $10 million in debt. Omnibiz plans to use the funds to increase its focus on gaining retail customers’ loyalty and driving their retention. In addition, the company intends to begin its regional […]

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Startups Technology Venture Capital

Kenyan Agritech startup, iProcure closes $10.2m Series B funding

iProcure, a data-driven agricultural inputs supply company, has announced the completion of a $10.2 million Series B funding round from a diverse group of international investors. Novastar Ventures, British International Investment (BII), and Ceniarth all participated in the Series B round of funding led by I&P. The fund will help iProcure expand into Uganda and […]

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Business Economy Startups Venture Capital

Chams PlC, now a Holdings company

Chams Plc, Nigeria’s foremost indigenous fintech and digital payments solutions Group is now a holding company having successfully changed its Nigerian Exchange (NGX) listing, over 37 years after being founded. According to the company’s Group Managing Director (GMD), Gavin Young, at a press conference held at their Victoria Island head office on Wednesday, August 17th, […]

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Technology Venture Capital

Google bets on African logistics company, Lori Systems

Lori Systems, an African on-demand logistics and trucking company that digitizes haulage and offers shippers solutions to manage their cargo and transporters has raised a pre-Series B round in which Google and other existing investors participated. According to sources, the company raised at a slightly higher valuation than its previous $110 million valuation in 2020. […]

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Technology Venture Capital

DataProphet raises $10 million to scale its AI-as-a-service offerings

DataProphet, a South African company founded by Frans Cronje and Daniel Schwartzkopff that offers AI-as-a-service software in the manufacturing sector, has completed its $10 million Series A round. Cronje, the company’s CEO, told TechCrunch during a call that DataProphet began focusing on providing end-to-end prescriptive AI for manufacturing plants to improve yield in 2017. The […]

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