Discover how M-KOPA and Bolt are teaming up to revolutionize transportation in Kenya with electric motorcycles, empowering drivers while fighting climate change.

Discover how Egyptian startup Bokra aims to revolutionise wealth management in the MENA region with its innovative platform offering goal-based investment and saving products through asset-backed securities! 🚀

Spana, Tanzania’s innovative auto-tech app, is transforming car maintenance with its convenient mobile platform, offering affordable and reliable automobile services 🚗💻. Founded in 2023 by Julius Mbungo, Ebenezery Kimaro, and John Mwapinga, Spana simplifies the process of requesting diagnostic checks, servicing, and repairs for individual car owners and businesses alike.

Egyptian startup bluworks raises $1 million in pre-seed funding to revolutionize blue-collar HR-tech solutions, aiming to streamline processes and reduce turnover rates.

Discover how Egypt’s Beltone Venture Capital and Citadel Holdings' CI Venture Capital join forces to boost the growth of early-stage tech startups across the MENA region with a $30 million investment fund.

Nigerian retail-tech startup OmniRetail propels forward in its mission to revolutionize Africa's commerce landscape with a significant investment from Goodwell Investments, marking the beginning of its Series A fundraising journey.

Dive into Rivia's strategic move as it acquires Waffle, a local SaaS company, to revolutionize digital healthcare in Ghana and beyond.

Explore how Senegal's Kori Tech is transforming payment systems in Africa with KoriPass, linking e-wallets with physical payment accessories to streamline transactions and enhance user experience.

Learn how South African startup RNR is revolutionizing breakdown management with its innovative on-demand platform, attracting significant investment to fuel its expansion in Southern Africa. 🚛🌍

Egyptian startup Sprints is on a mission to redefine education with its AI-powered platform, securing a $3 million bridge round to scale its innovative approach. With over 2.5 million learning hours delivered and partnerships with 300 tech employers globally, Sprints aims to empower learners and bridge the tech talent gap.

Tunisia-born AI startup, ClusterLab, based in the UAE, secures $600,000 in pre-seed funding to advance its innovative AI and NLP technologies, including its acclaimed Arabic audiobook summarisation app, Reedz.

South African fintech startup Float receives an $11 million funding facility from Standard Bank, marking a significant milestone in its journey to revolutionize the credit card industry. With plans to expand its card-linked installments platform, Float aims to reshape consumer spending habits while empowering merchants.

Discover how South African startup Planet42's partnership with Standard Bank is revolutionizing access to personal vehicles, driving economic empowerment and mobility across the country. 🚗💼

Discover how ABAN's groundbreaking cross-border investment in Legendary Foods showcases the power of pan-African collaboration, fostering innovation and sustainable growth across the continent.

Discover how Moroccan super app ORA Technologies is revolutionizing daily life for Moroccans with its wide range of services, from P2P transactions to e-commerce, after securing $1.5M in seed funding for expansion. Find out how this ambitious project aims to bridge the gap between traditional and modern commerce, fostering digital and financial inclusion in Morocco's digital economy.

Egyptian startup 30Med, specializing in B2B e-health solutions, has secured an undisclosed sum in pre-seed funding from angel investors. Founded by Ayman Ragab in 2023, 30Med's platform aims to bridge the gap between pharmaceutical companies and physicians through interactive videos and conference events, facilitating ongoing learning.

XSML Capital's latest milestone sees the successful launch of its fourth fund, African Rivers Fund IV (ARF IV), with a significant first close of $98.7 million, signifying a remarkable leap in investor confidence and paving the way for expanded investments in Central and Eastern Africa.

Discover how South Africa-based Simera Sense secured a significant growth funding round to enhance its earth observation camera solutions and advance groundbreaking on-board data processing capabilities. 🚀

Exciting news from CV Labs as startups from Kenya and Nigeria secure spots in the sixth edition of their accelerator program, unlocking funding, mentorship, and growth opportunities! 🎉💼 With up to US$135,000 in capital and access to expert mentors, these ventures are poised for success in both traditional industries and web3 infrastructure. 🌐💡

Get ready for an extraordinary journey into the heart of Nigerian culture and cuisine! Maliyo Games, the trailblazing game developer from Lagos, has teamed up with Disney Games to unveil "Iwájú: Rising Chef," a delectable mobile game inspired by the new Disney+ animated series. 🍲✨

Meet Antonia Bothner, Capital Markets Lead at Endeavor South Africa, who transitioned from a UK pension fund job to empower disruptive tech entrepreneurs. Discover how Endeavor, with a focus on high-growth startups, provides mentorship, global networks, and funding, contributing to the rise of unicorns in emerging markets.

Invest in the future with Ring Africa! This $55 million fund is driving positive change by backing innovative startups addressing Africa's unique challenges. Join the movement, empower entrepreneurs, and contribute to sustainable solutions for a brighter future. 🌍✨

Discover the pioneering move by EMURGO Africa, the powerhouse behind Cardano in Africa and the MENA region, as they unveil EMURGO Labs. This dedicated development entity is set to catalyze the growth of Web2 and Web3 organizations, fostering a digital revolution on the continent. 🚀🌍

Rwandan startup Viebeg pioneers a transformative approach to medical equipment procurement with its innovative AI-driven B2B platform. By seamlessly integrating data analytics and predictive modeling, Viebeg not only streamlines the procurement process for healthcare providers but also identifies critical infrastructure gaps, making informed investment decisions to enhance healthcare efficiency.

Exciting news in the African startup ecosystem! Conducive Capital, led by Clive Butkow and Mitchan Adams, has unveiled a $50 million venture capital fund targeting early- and growth-stage startups in South Africa and beyond. With a focus on disruptive technologies and fostering diversity, the fund aims to provide not just capital but strategic guidance and mentorship to nurture the next generation of industry frontrunners. 🌐💰

South African startup Cue has successfully secured $2 million in a seed funding round to enhance its AI-enabled customer service chat platform. The investment aims to drive deeper integration of advanced AI capabilities, enabling businesses to automate inquiries, enhance support performance through data analytics, and optimize customer engagement strategies. Cue, expanding its reach globally, is set to transform customer service landscapes with cutting-edge AI solutions.

🌟 AWIEF and Victoria’s Secret are championing gender equality and empowering women entrepreneurs with the launch of the Growth Accelerator in Nigeria! 🚀🌐

Unlocking financial inclusivity, Ugandan fintech FutureLink pioneers a community-driven marketplace, providing the unbanked access to tailored and affordable financial services. Born out of a Stanford-led transformation, the MSACCO app enables users to choose, transact, and earn dividends seamlessly, revolutionizing financial cooperatives' approach and democratizing finance. 🚀💳

Discover how Charis UAS, a Rwandan drone startup, is not only monitoring assets worth $1 billion through its proprietary platform but also making significant strides in combating malaria. 🌍🚁

Ghana's pioneering e-logistics startup, Jetstream Africa, takes a leap with Jetvision.ai, an innovative AI platform aiming to transform cross-border trade across 14 African countries. 🌐✈️ Experience streamlined logistics, finance, and trade support services, accelerating business growth and minimizing border-crossing timelines. 🚚💨

Kenyan music distribution startup Mdundo is set to make waves in the music industry, projecting an extraordinary $1.5 million artist payout for the 2023/24 period. With over 156,000 artists from six African countries benefiting, Mdundo's commitment to fair compensation and empowering musicians is making a significant impact. 🚀🎤

In a groundbreaking collaboration, Nigerian agri-tech startup UfarmX, known for its blockchain-driven solutions, has partnered with Africa GreenTec to address post-harvest challenges faced by women farmers in Senegal. The innovative pilot program offers subsidised access to solar-powered storage containers, providing a cost-effective and sustainable solution to climate-related issues. Together, UfarmX and Africa GreenTec aim to empower communities and revolutionize Senegal's agricultural landscape.

Discover how Peercarbon, founded in 2023, is revolutionizing sustainability in African SMEs. By offering science-based tools to measure CO2 emissions and connecting businesses with green finance, Peercarbon empowers SMEs for a greener future.

Discover how Catalyst Fund, a pre-seed VC fund and accelerator, is propelling innovation in Africa by investing in six climate-tech startups within the last four months. With a vision to enhance resilience in underserved communities, Catalyst Fund's targeted US$40 million fund, backed by influential investors, is making waves in the climate-tech space. 🚀🌍

Discover how Forté Innovations, founded in the wake of The Gambia's political shift, is transforming data landscapes in West Africa. From pioneering the Fisheries Information System to empowering sectors like agriculture and human rights, Forté's local expertise brings timely and accurate data to the heart of development.

Discover the latest from Medstore, the Ethiopian digital marketplace for medical equipment. 🌐 Now introducing paid services and a dedicated talent marketplace, Medstore Jobs, connecting healthcare businesses with the right talent seamlessly.

Discover how Nigerian startup Feegor is reshaping the B2B wholesale marketplace, offering a game-changing platform for SMEs in Africa. With a focus on small to medium-scale manufacturers and major suppliers, Feegor enables seamless discovery, negotiation, and direct sourcing, addressing critical challenges in Nigeria's fragmented and underserved retail market. Dive into the innovative approach that has attracted 2,500 businesses, marking a significant shift in how SMEs navigate product-sourcing challenges. 🌍🚀

Ghanaian B2B commerce startup, Boost, and global payments technology giant Mastercard have teamed up to revolutionize the fast-moving consumer goods (FMCG) sector in Africa. This collaboration brings digital payment wallets and embedded supply chain finance to distributors, wholesalers, and retailers, empowering them with essential working capital and advanced payment solutions.

Discover how Kenyan startup TausiApp, founded by musician Amos Kimani, is transforming the beauty industry through its AI-driven platform connecting freelance beauticians with clients. Empowering beauticians, ensuring quality services, and fostering a transparent marketplace, TausiApp stands out in the competitive beauty services landscape. 🚀💇‍♀️

Ghana's innovative e-bike startup, Kofa, set to revolutionize urban energy access in West Africa with the launch of its second-generation Kore 2 Swap & Go network. Powered by renewable energy and supported by advanced IoT and AI capabilities, Kofa's system offers affordable, autonomous battery swapping, contributing to substantial customer savings and environmental benefits. Backed by prominent investors, including Shell Foundation and FCDO, Kofa aims to expand its network, delivering over 100,000 swaps monthly and reducing CO2 emissions through electric mobility solutions.

Senegalese startup ProXalys secures $500K funding led by 216 Capital, propelling its ProBoutik initiative to digitally empower informal traders across Senegal and Tunisia. A significant step towards financial inclusion and sustainable economic growth in Africa's evolving retail landscape.

Empowering small-scale farmers with financing, quality inputs, and cutting-edge technology, Apollo Agriculture has raised $10 million in debt funding. The Kenyan startup, using AI and mobile payments, aims to expand its reach, aiding more farmers in adapting to climate change and ensuring sustainable farming practices. 🌍🌾

South African developer marketplace OfferZen closes a successful $4.3 million funding round from investors, introducing a revamped business model amidst financial challenges faced by tech companies in 2023. The company also witnesses a leadership change as Matt Beck takes over as CEO from co-founder Philip Joubert.

Revolutionizing in-store engagement, Egyptian fintech Zeal, backed by a $4 million funding round led by Raed Ventures and Cur8 Capital, is set to expand its presence across the broader MENA region. Zeal's SmartPOS Plugin, utilizing AI, enhances customer engagement for retailers, making strides in reshaping the global retail landscape.

Unlocking the future of education! Edura, the interactive educational platform connecting teachers and students, has successfully raised a pre-seed funding round led by Smart Zone Startups Studio. With over 7,000 lectures delivered in 2023 and serving 190,000 students, Edura aims to reshape online learning by offering innovative services and fostering educational excellence.

Explore Partment, Egypt's prop-tech gem founded in 2022, reshaping real estate investment with its "invest and experience" co-ownership model. Discover how fractional ownership, managed by Partment's Smart Booking System, makes dream vacation homes accessible and efficient.

In a groundbreaking move, Paymob, the MENAP region's premier financial services enabler, has proudly obtained the Central Bank of Oman's Payment Service Provider (PSP) license. This makes Paymob the pioneer among international fintech companies to achieve full licensing in the Sultanate, marking a significant leap for digital finance in the region.

Join the tech revolution! Safaricom, M-Pesa, and Sumitomo Corporation are on a mission to supercharge Kenyan startups with their Spark Accelerator. This three-month program offers more than just funding, providing a unique blend of mentorship, training, and go-to-market support to catapult early-stage fintech and content ventures into long-term success. Don't miss this opportunity to be part of Africa's next tech breakthrough.

Healthcare startup Rivia is set to transform patient experience in Africa, starting with its launch in Ghana. With plans to expand across West and East Africa, Rivia collaborates with clinics, offering comprehensive support in customer acquisition, financing, and technology to elevate patient service quality and expand clientele reach.

Cameroonian startup OnDjoss is making waves with its instant messaging app, boasting 300,000 downloads and facilitating seamless mobile money transfers. With plans to integrate banks and expand into Central and West Africa, OnDjoss is now seeking €870,000 ($950,000) in seed funding to fuel its innovative approach and capture a significant market share.

Kenya's innovative climate-tech startup, KOKO, has clinched undisclosed funding from Rand Merchant Bank (RMB). KOKO, known for its groundbreaking bioethanol cooking fuel distributed via a network of high-tech KOKO Fuel ATMs, aims to reduce charcoal dependency in over 1.1 million homes across urban Kenya.

Discover how Lapaire, the trusted eyecare startup founded in 2018, has raised a whopping $3 million in equity funding led by Investisseurs & Partenaires. With a one-stop-shop approach, Lapaire aims to bring stylish eyeglasses at fair prices to more people across Africa, having already impacted the lives of 180,000 individuals in six countries.

Kenyan startup Badili, a leader in the reverse commerce space, has secured seed funding from E3 Capital to fuel its expansion across East Africa. With operations in Kenya, Tanzania, and Uganda, Badili focuses on refurbishing and reintroducing used mobile phones to the market, offering affordable access to top-tier smartphone brands. The funding from E3 Capital aims to accelerate Badili's growth and promote digital innovation while emphasizing environmental sustainability in the re-commerce sector. 🚀💻

Discover how Safi Protocol, founded in 2022, leverages blockchain and DeFi to bridge the gap between cryptocurrency investors and clean energy projects in Africa, creating a sustainable and mutually beneficial ecosystem for financial growth.

Empowering micro, small, and medium enterprises, Egyptian startup Qardy has joined forces with Cashcall to revolutionize the lending landscape. With a goal to become the "Amazon of lending," Qardy aims to streamline the loan application process, cutting waiting times from nine months to approximately 18 days.

Embarking on a mission to revolutionize Egypt's tech sphere, T-Vencubator emerges as a pioneering VC firm and incubator, dedicated to fostering local innovation and addressing everyday challenges through technology. 🇪🇬✨

Egyptian startup Seqoon takes a bold step into the UAE market, launching its fractional ownership model for holiday homes in Dubai. With an innovative approach breaking down affordability barriers, Seqoon allows users to own shares of luxurious vacation properties, making property ownership more accessible and enjoyable. The move into Dubai reflects Seqoon's commitment to revolutionizing holiday home ownership in the region.

Tunisian startup, Imaginario AI, harnesses the power of artificial intelligence to revolutionize video and audio content processing. With a recent $1 million pre-seed funding round led by 216 Capital, the company aims to accelerate its global footprint, providing efficient multimedia solutions for major players like Warner Bros. Discovery and Universal Pictures, saving over 60% in search and creation time.

Dive into the transformative journey of Ghanaian startup Oceansmall as it pioneers a digital platform revolutionizing small-scale fishing communities. Discover how basic technologies and strategic innovations are bridging market gaps, enhancing supply chain efficiency, and ultimately uplifting livelihoods.

Revolutionizing healthcare accessibility, Egyptian startup Chefaa secures $5.25 million in a funding round led by Newtown Partners and Global Brain. With a mission to streamline prescription services, Chefaa connects over one million users to 1,100 pharmacies in Egypt and Saudi Arabia. The investment will accelerate its expansion in Saudi Arabia, where it currently operates in eight cities.

Unlocking the potential of Africa's creative sector, BlackRhino VR launches MediAR, an innovative AR platform enabling content creators to easily build and publish immersive experiences. The user-friendly platform aims to empower the continent's youth, fostering innovation, job creation, and socio-economic growth. 🌐✨

Explore the impact of the funding winter on African startups as some close their doors, while others like Copia, MarketForce, Twiga Foods, and Paystack adapt strategies to weather the storm. 🌍💼

South African venture capital firm E4E Africa has achieved the first close of its E4E Africa Fund II, totaling $30 million. The fund, launched in 2020, focuses on key sectors like fintech, education, job tech, e-health, and energy solutions. Already making strides, it has invested in companies like Kwara, TUNL, and a disruptive player in Kenya's embedded finance landscape.

Meet WayUp Sports, the dynamic Egyptian sports e-commerce platform founded by three athletic siblings, Omar, Mohamed, and Basma Afif. Backed by 35 years of family expertise, WayUp offers a one-stop-shop for performance-based sportswear, featuring 70+ local and international brands. After rapid growth and a recent funding round, the startup sets its sights on regional expansion, aiming to revolutionize the sports gear retail space.

Discover how Primed E-Health, a Nigerian startup founded by Dr Are Abdulhafiz and Esther Anammah, is reshaping healthcare in Africa. Through its cutting-edge Smartclinic system, the company is digitizing hospitals, enhancing patient management, and achieving remarkable health outcomes. 🚀🌍

Discover how Ugandan startup Munakyalo Agrofresh is combating post-harvest losses among smallholder farmers. Using solar-powered Cold Hives, they extend the shelf life of produce, addressing both inefficiencies in supply chains and the financial constraints of farmers. 🍅🌍

Discover how Nigerian startup Messenger is reshaping the logistics landscape by providing gig workers and logistics operators with crucial asset financing and credits, unlocking opportunities for economic empowerment in the last-mile delivery sector.

Kenyan fintech startup, Lipa Later, acquires Sky.Garden for $1.6 million, unveiling a rebranded e-commerce ecosystem with innovative features. The move aims to empower businesses and customers, transforming the conventional online retail landscape. 🚀💳

Tunisian startup Cynoia, specializing in team collaboration solutions, has raised $930,000 in funding, propelling its expansion into the West African Economic and Monetary Union. With a comprehensive suite of collaboration tools, Cynoia plans to enhance productivity and streamline teamwork.

🌐 Unlocking a new era in South African payments! Stitch, with its recent $25 million Series A extension, introduces "Pay with Crypto" functionality, allowing businesses to tap into the crypto-savvy audience without worrying about volatility. 💸🚀 Explore how this innovative move aligns with the booming cryptocurrency adoption in the region.

EchoVC, the Pan-African venture capital firm with a mission to support underrepresented founders, unveils the EchoVC Eco Pilot Fund I. This $2.5 million pre-seed fund is strategically designed to fuel innovation in climate, energy, agriculture, and mobility, addressing critical funding gaps and fostering early-stage enterprise development. Join EchoVC on its mission to make a lasting impact on the growth and development of transformative solutions.

Unlocking the potential of Tanzania's vibrant startup ecosystem! 🚀 The Serengeti Business Angels Network (SBAN), Ennovate Ventures, and UNCDF Tanzania join forces to launch the Tanzania Business Angel Investors Accelerator (TAA), aiming to train and empower 50 new angel investors. Get ready for a revolution in tech investment for Tanzania's startups!

Tunisian startup Winshot, focusing on enhancing retail operations, secures a substantial six-figure funding round led by 216 Capital. With a mission to boost internal collaboration and real-time monitoring in retail distribution, Winshot plans to expand its market presence in France and Tunisia, promising a transformative impact on customer experience. 🛍️💡

Making waves in Kenya's aquaculture sector, Aquarech, a fish farming startup, has secured $1.7 million in equity funding. Led by global aquaculture investment fund Aqua-Spark and supported by Acumen, Katapult, and Mercy Corps Ventures, Aquarech's mission is to empower small-scale farmers through its innovative mobile app platform, offering quality feed, training, and market access.

Ed Partners Africa, a leading non-banking financial institution, secures a $10 million loan guarantee from the US Development Finance Corporation (DFC) to enhance access to affordable education in Kenya. The commitment aims to support crucial aspects such as infrastructure, technology, and transportation for over 100,000 students in 350 schools, aligning with DFC’s mission to increase quality education access.

Payment24, a global payment platform from South Africa, is making waves in Europe with its acquisition of Swiss company Inergy 24. The move aims to provide cutting-edge payment, fleet management, loyalty, and EV solutions across the continent. 🚀💰

Ethiopian talent marketplace Afriwork has onboarded 300,000 users, is helping 50,000 SMEs find and hire talent, and is setting its sights on East African expansion.

Discover how insurtech pioneer Pineapple secures a game-changing $21.3 million in Series B funding! 🚀🍍 Embracing innovative tech and AI, Pineapple aims to redefine the insurance landscape, offering cost-effective solutions to all South Africans. 🌍🤖

Exciting news in the ed-tech realm! Akhdar, the Egyptian educational technology startup, has successfully secured a substantial six-figure funding round led by Saudi Arabia-based Value Maker Studio. With a user base spanning 174 countries, Akhdar is set to amplify its impact, enhance technology, and address learning challenges, particularly in the vibrant market of Saudi Arabia. 🚀📚

Nigerian agri-tech startup UfarmX, which leverages blockchain technology to empower rural, unbanked and underserved smallholder farmers, has expanded to Senegal as it aims to reshape perceptions about agriculture, positioning it as an appealing, contemporary, and profitable career option for the younger generation.

Discovering the ideal funding model is a pivotal challenge for African entrepreneurs, and navigating the landscape of debt and equity financing requires strategic decision-making. From senior debt finance to mezzanine finance, entrepreneurs must tailor their choices based on capital needs, risk tolerance, and ownership preferences. Learn how to avoid over-dilution and debt pitfalls while optimizing funding for business growth.

Nigeria's Fez Delivery is ushering in a cleaner era in goods transportation with the launch of "FEZ ECO," an innovative line of electric bikes. This move showcases their commitment to sustainability, providing businesses an eco-friendly and cost-effective solution for last-mile deliveries. 🌍🔌

Egyptian SaaS e-commerce startup Awfar has secured six-figure US dollar funding from Saudi Arabia-based venture studio Value Maker Studio (VMS) to expand its presence in the latter country.

Ivory Coast-based startup Babimo is helping small businesses overcome payment challenges by allowing them to receive customer payments via QR code.

South African blockchain remittance app Minit Money has opened its first Southern Africa remittance corridor, enabling Zambians living in South Africa to easily and affordably send money home.

South African recruitment startup JOBJACK has raised ZAR45 million (US$2.5 million) in pre-Series A funding to help it change the narrative of entry-level recruitment in the country.

MNT-Halan, Egypt’s first unicorn and fastest-growing fintech startup, has raised a US$130 million securitisation, one of five tranches of securitised bond issuances this year that have so far banked it over US$400 million.

Ghanaian startup Hurupay is helping businesses and individuals across Africa overcome the negative impacts of fluctuating local currencies by allowing them to make and receive stablecoin-based payments.

South African insurtech startup Inclusivity Solutions has raised a US$1.5 million Series A extension round to support its pan-African expansion plans.

Tunisian fintech startup, My Easy Transfer, has successfully raised EUR 400,000 (US$420,000) in funding to drive its expansion and enhance its services. Founded in March 2022 by Ismaïl and Jabrane Khenissi, the platform has already served 10,000 customers.

Venture capital funding has declined significantly across the world in 2023, and though there were initial hopes that the nascency of the African tech ecosystem might mean it avoided too much damage, the growing size of the continent’s “startup graveyard” suggests that is not the case.

Somalian incubator SIMAD iLab has undergone an upgrade and expanded its offering after making a serious impact on the local startup ecosystem in the five years since its launch.

Describing itself as the “Square for Africa”, in reference to Twitter founder Jack Dorsey’s renowned payments platform, Ghanaian startup Blu Penguin provides an in-store PoS system for merchants so they can accept money from all channels on a single app.

AAIC Investment has announced new backing for its Africa Healthcare Fund 2 (AHF2), taking the total size of its two funds to US$87 million.

Ghanaian startup Kofa, a forerunner in battery network solutions, has partnered TAILG Group, a leading electric vehicle brand from China, to launch the Jidi electric motorcycle, equipped with an innovative battery swap technology.

Ghanaian startup PAL is an e-money payment infrastructure and liquidity provider acting as an off-ramp for global enterprises and African businesses wanting to innovate cost-effectively within the Francophone Africa market.

VALR, the largest South African crypto exchange by trading volume, and Visa, the world’s largest card network, have announced a strategic partnership for the issuance of Visa cards and delivery of other digital payment solutions.

Kenyan and Rwandan startups are invited to apply for the Smart Cities Innovation Programme (SCIP) aimed at quickly scaling solutions shaping the future of urban living in Africa.

Egyptian ed-tech startup Crafty Workshop has secured US$400,000 in a seed funding round led by EdVentures, which it will use help expand its product offering and expand regionally.

Nigerian crypto startup Coinazer has already clocked 5,000 customers, facilitated over US$3.8 million worth of transactions, and expanded to Brazil, with further expansion planned.

Cape Town-based digital identity startup iiDENTIFii has partnered Zambian bank Zanaco to roll out its identity solution to Zambian consumers and citizens.

South Africa’s Revio, a payment orchestration platform that helps merchants optimise their order to cash lifecycle, is making waves in addressing payment failures across Africa, and is planning major expansion after banking US$5.2 million seed funding.

Egyptian delivery management startup Roboost has partnered McDonald’s Egypt to help the fast food company automate its last-mile delivery cycle, optimising operations before delivery starts and reducing manual actions.

South African startup Cue, a frontrunner in AI-driven customer service solutions, has raised US$500,000 in funding to enhance its mission of improving customer service by harnessing the potential of cutting-edge large language models (LLM).

Egyptian insurtech startup Amenli has closed a US$1 million equity funding round to help it expand its team, further build its product and grow its brand.

IFC has made a US$50 million equity investment in a new fund by LeapFrog Investments, one of the largest private equity groups dedicated to impact investing in emerging markets, to improve fast-growing health and financial services firms’ access to growth capital and support job creation in Africa, South Asia, and Southeast Asia.

Sanari Capital, a women-led and majority Black- and women-owned South African private equity firm, has raised ZAR1.25 billion (US$65 million) in the second close of its growth fund, which aims to fuel employment opportunities and foster economic growth across Africa.

Senegalese FMCG intelligence startup Lengo AI has raised a seven-figure pre-seed round of funding to help it develop its product and team, and expand into new African markets.

Tech startups working to transform the agriculture and food tech industry in Africa are invited to apply for the SAIS Investment Readiness Programme to help them scale.

Egyptian deeptech startup Intella has closed a US$3.4 million pre-Series A funding round to fuel its expansion into the Saudi market and support the development of end-to-end AI models localised for the MENA region.

For the latest episode of Disrupt Podcast’s “The month in VC” series, produced in partnership with Katapult Africa, Kalon Venture Partners, Hlayisani Capital, and ARM Labs Lagos Techstars Accelerator we discussed the importance of local capital, especially institutional capital, when it comes to building a successful tech startup ecosystem with Mathew Palin, partner at South African VC firm Hlayisani Capital.

Nigerian company WATT Renewable Corporation (WATT), an independently-owned provider of hybrid solar solutions, has secured US$13 million in funding to catalyse its efforts in advancing renewable energy solutions and fortify its position as a leading provider of clean energy in Nigeria.

Tanzanian startup Bizzyn, a cloud-based financial management software designed specifically for small and medium-sized businesses (SMBs) in Africa, is already operating in Kenya and Malawi as it plans further expansion across the continent.

Egyptian fintech startup MoneyHash has raised funding from GitHub founder Tom Preston-Werner as part of a soon-to-be-announced seed round. Founded in late 2020 by Nader Abdelrazik, Mustafa Eid and Anisha Sekar, MoneyHash provides a unified checkout experience built on top of a secure super-API that aggregates payment and fintech solutions through a single integration, as well as a central dashboard consolidating technical infrastructure and centralising data and operational reporting.

Nigerian cryptocurrency startup KoinWa has launched web3 education platform EduBlok in a bid to empower university and college students with relevant skills. KoinWa, which allows users to buy and sell cryptocurrencies, was in June one of 25 African fintech startups selected for the inaugural Amazon Web Services (AWS) FinTech Africa Accelerator cohort.

African tech startups raised US$492,418,000 in Q3 2023, taking the total for the first nine months of the year to US$1.4 billion, down 48 per cent on the corresponding period in 2022 as the global capital crunch continues to impact the continent’s startup sector.

Kenya-based impact investment firm Kua Ventures has invested more than US$1 million into the growth of 20 small and medium enterprises (SMEs) in the country. Formed in 2020, Kua Ventures started out providing much-needed capital, coaching and community support for SMEs to survive the economic downturn prompted by COVID-19 and the resultant lockdowns.

Kenyan startup eBiashara is an ICT enterprise solutions provider that offers cutting edge turnkey services that power digital transformation across diverse sectors. eBiashara began life in 2014, introducing a supply chain finance platform before later expanding to offer cloud computing, e-commerce, cyber security, business intelligence and analytics solutions, among others.

There is a slow process of diversification away from payments and lending solutions within Africa’s fintech space, but the two verticals remain by far the most populated and best funded. Disrupt Africa’s Finnovating for Africa publication, released every two years since June 2017, tracks the extraordinary development of the fintech ecosystem across Africa.

Egyptian direct-to-consumer, digital-led home and décor brand ariika has raised a Series A equity funding round from Beltone Venture Capital, a subsidiary of Beltone Financial Holding, which has taken a 20 per cent stake in the company.

Zambian neobank Lupiya has successfully secured US$8.25 million in Series A funding to scale operations in its home market and in new ones. Founded in 2016, Lupiya works to bridge the financial inclusion gap by offering easy-to-use, technology-driven financial solutions to the unbanked and underbanked populations in Zambia.

African e-health startups are addressing huge problems that negatively impact healthcare outcomes across the continent. But they need more support from investors and governments to help them succeed in fulfilling their potential.

Egyptian startup Qardy, a marketplace and aggregator for debt financing, has partnered microfinance company Sandah to give MSEMs access to the necessary tools and resources. Founded in July 2022, Qardy facilitates loans for MSMEs, with founder Abdel Aziz Abdel Nabi saying the startup’s goal was to be the “Amazon of lending”.

IAPrecision is a first-of-its-kind agricultural industry-focused drone technology and data analytics service enterprise in Nigeria. The startup, founded in 2021, provides farmers with aerial intelligence and actions that empower them to undertake smart and precision-driven agriculture leveraging drone technology and the power of data they generate.

Egyptian fintech startup Yalla has signed several agreements with major financial companies and institutions that will see it expand operations into Saudi Arabia. Yalla is a financial super app for all daily financial and non-financial needs, which allows users to send and receive money, pay merchants online and offline, and place orders.

Nigeria has overtaken South Africa to become the most-populated fintech space on the continent, having already established itself as the most attractive fintech investment destination. Disrupt Africa’s Finnovating for Africa publication, released every two years since June 2017, tracks the extraordinary development of the fintech ecosystem across Africa.

Kenyan startup Octavia Carbon is the Global South’s first direct air capture (DAC) company, designing, building, and soon deploying machines that directly capture CO2 from the atmosphere. Founded in March 2022, aimed at “reversing climate change”, Octavia Carbon is leveraging Kenya’s renewable energy, geology, and talent to deploy and scale DAC at a low cost.

DRC-based startup Itot Africa is on a mission to bridge the digital skills gap in Africa. Established in 2017, the ed-tech company provides tailored digital content, coding, programming, training, and e-learning services to businesses, SMEs, and entrepreneurs across Africa and the United States. Itot Africa's flagship product, Okademy, is an online learning and career tracking platform. The company also supports its clients' digitization efforts by creating tech solutions through its network of trained students.

Egypt-based health insurtech Sehatech has raised a US$850,000 round of funding to help it grow its team and further develop its product. Founded in 2022 by Mostafa Tarek, Mohamed Elshabrawy and Omar Shawky, Sehatech aims to automate medical approvals, claims processing and the billing cycle, saving insurers’ time and expenses while preventing fraudulent practices.

The African fintech sector has experienced a remarkable surge in acquisitions, with 26 startup acquisitions recorded between June 2021 and July 2023. This figure marks a significant 271% increase compared to the seven acquisitions in the preceding two-year period.

Kenyan save-to-buy platform Mosmos is allowing customers to pay for high value products and services in convenient and flexible installments, as they earn rewards and unlock discounts. Formed to bridge the affordability gap for high value products and services, and make savings targeted and achievable, Mosmos enables customers to save for items they want to purchase, interest-free.

Cameroonian startup Koree, a consumer app that acts as a digital wallet for loyalty cards, is planning to expand across Francophone Africa with the help of matching funding from Catalytic Africa. Founded in September 2022, Koree allows consumers to digitally collect their spare change from cash retail payment roundups, and earn cashback from stores and brands across multiple categories.

Nigerian real estate investment startup Cribstock is helping users become landlords in minutes by purchasing shares of properties that can then earn rent every month from Lagos tenants. Launched in 2021, Cribstock helps allows users to own fractions of properties, and earn a share of rent from tenants. “Think of this as a platform micro-investors use to crowdfund real estate to earn from it,” CEO Harold Nno told Disrupt Africa.

Nigerian logistics startup Kwik has launched on-demand e-commerce fulfillment service KwikShelf, its first fulfillment centre at Iddo House, Lagos. Disrupt Africa reported in July 2019 on the launch of Kwik – a digital platform connecting delivery partners and corporate customers in large African cities and offering digital solutions for e-commerce payment and fulfilment – after the startup raised seed funding, and it saw speedy uptake.

South African personal finance companion FinMeUp is bridging the gap between financial education and executions through its community-based platform of almost 100,000 users. Founded in 2020, FinMeUp offers a comprehensive range of solutions including an education platform, financial advisory, investments, insurance, and credit solutions. As a community-based platform, the startup is dedicated to fostering a collaborative environment where individuals can learn, engage, and grow together. It boasts over 80,000 community members and over 15,000 app users.

Egyptian beauty services booking platform Glamera has successfully obtained the fintech license “SoftPOS” from Saudi Payments, the major payment system in Saudi Arabia, established by Ministry of Finance under the supervision of Saudi Central Bank, which it says will “unlock new horizons of growth and deliver an unparalleled customer experience” in the Saudi market.

Africa’s fintech startup ecosystem is continuing on its growth trajectory, with the number of startups operating in the space increasing by 17.7 per cent to 678 in 2023 as compared to 2021. This is according to the latest edition of Disrupt Africa’s Finnovating for Africa publication, released every two years since June 2017, which tracks the extraordinary development of the fintech ecosystem across Africa over the last few years.

Tanzanian startup Safiri has created the digital infrastructure that enables transit operators to manage their operations and provide more – and better – services to customers. Launched in June 2022, Safiri is digitising the management of transit companies, replacing pen and paper with software in local languages, point of sale devices for the issuance of tickets, and GPS trackers for vehicles.

Tunis-based peer-to-peer (P2P) fashion marketplace Dabchy has launched operations in Egypt. Founded by Amani Mansouri, Ghazi Ketata and Oussama Mahjoub in 2016, Dabchy is an online platform that allows users to buy and sell pre-used and new clothes online.

Ghana’s Oyster Agribusiness, an agricultural enterprise that employs significant levels of tech and works closely with smallholder farmers, has raised US$310,000 in grant and debt funding to propel its mission of sustainable agriculture, gender inclusion, and talent management.

The co-investment fund Catalytic Africa, established in 2019 by the African Business Angels Network (ABAN) and AfriLabs, made three investments totalling EUR174,000 (US$191,000) in startups from Cameroon, DRC and Kenya in June and July. The partnership between AfriLabs, a pan-African network of technology and innovation centres, and ABAN aims to increase the pool of capital available to promising African growth-stage entrepreneurs, support the startup ecosystem, and increase the visibility of impact to institutional funders.

Egyptian AI recruitment startup Talents Arena has raised a US$750,000 pre-seed round of funding to power its expansion into Saudi Arabia. Founded in 2019 by Aya Elgebeely, Talents Arena has developed an AI-powered recruitment platform featuring a talents mining engine and automation features. So far it has made more than 180,000 job matches and placed thousands of candidates in suitable tech jobs.

Cairo-based startup Grinta, a fintech-enabled B2B tech platform digitising the pharmaceutical supply chain, has acquired Alexandria-based online pharmacy Auto-Cure to expand its footprint in the country. Founded in 2021 by Mohamed Azab, Yosra Badr, Ali Youssef, and Hamza Mohamed, Grinta is a managed marketplace that modernises the pharmaceutical supply chain by empowering independent pharmacies. The end-to-end platform provides access to the full spectrum of traceable pharmaceutical and medical products from multiple vendors in addition to providing fulfillment, demand planning, and inventory financing.

Kenyan startup Lipa Later has partnered Mastercard to drive financial inclusion and expand Buy Now, Pay Later (BNPL) solutions in Africa, starting with Kenya and expanding to Rwanda, Uganda, and Nigeria. Founded in 2018, Lipa Later aims to empower African businesses to do more by enabling e-commerce, financial inclusion and shopping all on one centralised and fully integrated platform.

Egypt-based ed-tech corporate VC firm EdVentures has announced a strategic partnership with VMS, a leading venture studio empowering entrepreneurs and startups in the Middle East, to enhance ed-tech in the region. Since its establishment in 2017, EdVentures, the investment arm of Egypt’s Nahdet Misr Group, has been at the forefront of investing in innovative ed-tech startups.

Egyptian startup Qardy, a marketplace and aggregator for debt financing, is planning to boost financial inclusivity across the country after signing a partnership with the Egyptian Post Office. Founded in July 2022, Qardy facilitates loans for MSMEs, with founder Abdel Aziz Abdel Nabi saying the startup’s goal was to be the “Amazon of lending”.

Egyptian digital savings startup Menthum has secured an undisclosed pre-seed round of funding to help it expand its team and develop its infrastructure. Launched last November by veteran professionals Himanshu Shrimali and Ismail Sarhank, Menthum is a B2B and B2C digital savings platform that provides individuals and companies with an innovative way to invest in safe treasury bills (T-bills) through a money market fund.

Ten Southern African startups have received awards for their solutions to bridge the gap in financial access for underserved communities as part of a challenge supported by the World Bank. The Fintech Challenge was part of the ecosystem development initiatives under the Southern Africa Innovation Bridge Portal supported by the World Bank to crowd-source new and impactful ways to utilise the latest innovations in fintech.

Egyptian startup Exits MENA, a fintech investment banking marketplace, has extended its seed round to US$1.25 million with investment from Silicon Valley-based venture firm Practical VC. Founded in 2022 by Mohamed Aboulnaga, Ahella El Saban and Ayman El Tanbouly, Exits MENA aims to facilitate M&As and investments in companies by offering a seamless and fully integrated online solution on its platform and a full-fledged financial advisory service.

The Africa Business Angels Network (ABAN), a pan-African association of angel investors, and Rwanda Finance Ltd (RFL), a company dedicated to establishing Rwanda as a premier financial destination in Africa, have officially entered into a Memorandum of Understanding (MoU) to collaborate and advance their respective initiatives across the continent.

Chari, a Morocco-based B2B e-commerce startup with embedded financing for the FMCG sector, has secured further funding worth US$1.5 million from Verod-Kepple Africa Ventures (VKAV) to support its growth plan.

Founded in 2022 by Sarah Johnson, Revivo is an online marketplace for quality electronic spare parts, accessories, and repair tools, which aims to increase access to quality and affordable electronics repairs in emerging markets by addressing the needs of small businesses doing the vast majority of repairs.

Egyptian Islamic invoice financing startup Agel has closed an undisclosed seven-figure pre-seed round of funding to help it roll out customised, digital, cashless, and Sharia-compliant financing products, including Murabaha, a cost-plus financing model that complies with Islamic principles.

Ghanaian Web3 startup Mazzuma has secured an undisclosed amount of financing from Adaverse to implement the roll-out of its AI-powered smart contract creation platform – MazzumaGPT.

South African e-health startup Zoie Health has raised a pre-seed extension funding round to fund its expansion and growth.

The Fashion Kingdom (TFK), the leading curated fashion marketplace in Egypt, has acquired direct-to-consumer (D2C) fashion brand Opio to create a powerhouse fashion group

Kenyan fintech startup Pezesha has partnered retail distribution platform Kyosk App to enable Kyosk merchants in Kenya – and soon in Uganda – to access affordable inventory credit.

The Rwanda-based Ampersand, an integrated electric motorcycle and transport energy solution, has reached a major milestone in its mission to provide sustainable mobility solutions in Kenya and Rwanda, with it now having more than 1,000 commercial use electric motorcycles on the roads.

Fewer than 10 per cent of African tech startups are led by a female CEO, while less than 15 per cent even have a female co-founder, according to a groundbreaking study on gender diversity released by Disrupt Africa.

The Moroccan startup PrestaFreedom, a home services platform specialising in household subscriptions and other services for individuals, has raised MDH11 million (US$1.1 million) from the Azur Innovation Fund to accelerate its growth at the national and regional level.

Kenya’s Patamali has developed a groundbreaking decentralised finance (DeFi) platform operating on the Celo blockchain that aims to revolutionise the real estate financing space.

Ugandan fintech startup Zofi Cash has secured US$1 million in pre-seed funding to double down on its commitment to ensuring that every day is a payday for salaried workers.

Tunisian B2B e-commerce startup Kamioun aims to become the leading mobile platform for corner shops, helping them simplify replenishment processes as a stepping stone into other aspects of business digitisation.

Ivory Coast-based fintech Djamo’s first product was a Visa-powered card for digital payments, but it has gradually added other financial services to become the one-stop personal finance partner for consumers.

South African digital fuel management solutions and telematics startup Payment24 has expanded into new markets in North America and Europe, as well as announcing ongoing product innovation in other areas.

Applications have opened for the African Food Fellowship, which is building a radical movement of leaders in Africa working to transform food systems across the continent.

Tunisia-based e-commerce platform Drest has raised US$336,000 from 216 Capital Ventures to fund its expansion into the African market.

Nigerian fintech startup Storspay has raised a US$320,000 funding round and been selected to participate in the Techstars NYC accelerator, backed by JP Morgan Accelerator.

Capria Ventures, a leading Global South specialist firm investing in early-growth Global South startups, has announced the first close of its US$100 million fund.

South African startup Maholla, a viral consumer rewards app, has concluded a US$1.5 million seed funding round to help it continue to scale.

The DRC-based Altech Group has raised US$18 million in debt financing and grants to continue strengthening its market position and expand access to energy across the country.

Young African Catalysts has launched in a bid to democratise access to the African venture ecosystem, leveraging data and community to enable young Africans to upskill, find jobs, and unlock investment.

Ghanaian agri-tech startup Farmerline has expanded into Francophone Africa with an official launch of operations in Ivory Coast, deepening partnerships across West Africa and accelerating its commitment to support small scale farmers everywhere.

The Egypt-based VC firm Camel Ventures has launched an EGP500 million (US$16 million) fund that is focused on the country’s fintech startup ecosystem.

Ethiopian startup Medstore has launched a digital marketplace to allow users to sell and buy medical equipment online, and publish and subscribe to medical equipment tenders.

Nigerian fintech startup OnePipe has secured a US$4.8 million credit facility from TLG Capital, which it will use to provide inventory finance to small shops, while at the same laying off an undisclosed number of team members to extend its runway.

Nigeria’s HouseAfrica, a prop-tech startup providing real estate digitalisation and transparency tools to property developers and their customers, has raised US$400,000 in funding.

South African VC firm Kalon Venture Partners, which invests in digital disruptive technologies, is to raise a US$50 million fund which will see it make investments outside of South Africa for the first time.

Kenyan startup TIBU Health has raised an undisclosed amount of pre-Series A funding to allow it to strengthen its solutions dedicated to chronic diseases and improve its virtual care platform.

Kenyan insurtech startup Turaco has partnered Airtel Money and Prudential in Uganda to launch Hospital Sente, a low-cost hospital cash insurance product with funeral benefits, aimed at increasing access to insurance for underserved communities, and low-income individuals and families.

When Mohamed Badr conceived of the idea for a mobile app that allows businesses and individuals to connect with transportation for items such as furniture, he wanted to launch it in his home country of Egypt.

Cameroonian startup Prepdia, which is helping learners improve their outcomes by reliably connecting them with professional tutors for in-person and online lessons, has expanded to Gabon after seeing impressive growth in its home market.

The Democratic Republic of Congo (DRC)-based energy company Nuru is on track to build 13.7MWp of isolated solar-hybrid grids by mid-2024 after securing an initial US$1.5 million from investors in a convertible note round ahead of the close of its Series B funding round.

Tanzanian music streaming startup Jibu has launched a differentiated offering it claims gives a larger chunk of revenues to independent artists as opposed to labels and distributors.

Impact Investing Ghana (IIGh) has begun the operational setup of its Ci-Gaba fund of funds, which seeks to unlock US$75 million in local and international funding for local capital providers, who are investing in small and medium enterprises (SMEs) to advance the Sustainable Development Goals (SDGs).

Rwandan startup DoctorAI is using artificial intelligence (AI) to help healthcare providers reduce the mortality and morbidity associated with medical errors and inaccessibility to medical specialists.

Mali’s Sodishop, a B2C and B2B marketplace that sells and delivers almost all categories of products, has expanded across several markets in West Africa and shows no sign of slowing down.

South African hotel management system (HMS) RoomRaccoon has announced its expansion to Zanzibar, offering independent hoteliers the opportunity to accelerate their operations, increase profitability and reduce costs with its all-in-one system.

Ugandan fintech Qiribu believes itself to be the first platform within the East African country to launch an earned wage access product, which it plans to expand into Kenya and Rwanda in the next couple of years.