Founded in 2021, WayUp Sports has emerged as a leading provider of diverse specialized and performance-based sportswear and equipment, catering to the growing demand among athletes and sports enthusiasts.

Since raising a pre-seed funding round last year, the company has experienced a remarkable nine-fold growth, securing strategic partnerships with over 70 local and international brands, offering products for more than 15 sports, and serving over 100,000 customers.

This undisclosed seed round was spearheaded by Beltone Venture Capital, Index Sports Fund, and a group of strategic angel investors.

The funding will be instrumental in supporting WayUp Sports’ ambitious goals of expanding its regional reach, launching its own private brand, and continuously improving the user experience across its digital platforms.

Commenting on this significant milestone, Mohamed Afifi, co-founder and co-CEO of WayUp Sports, expressed his gratitude to the investors for their confidence in the company’s vision and potential.

Ali Mokhtar, CEO of Beltone Venture Capital, echoed Afifi’s enthusiasm and highlighted WayUp Sports’ remarkable achievements.

This seed funding round underscores WayUp Sports’ strong position in the Egyptian sports retail market and its potential to expand its reach across the MENA region.

This strategic investment will significantly fuel Khula’s expansion plans and enhance its mission of connecting farmers with suppliers, buyers, and financing options.

The Kgodiso Development Fund, established by PepsiCo South Africa with an initial capital of R600 million ($32.7M), spearheaded this investment.

The fund aims to foster the growth of emerging farmers by supporting market-driven programs, co-creating innovative solutions, and expanding its impact through strategic investments.

Founded by Karidas Tshintsholo, Jackson Dyora, and Matthew Piper, Khula has developed a comprehensive digital ecosystem that addresses the key challenges faced by South African farmers, including limited access to markets and financing constraints.

The investment from PepsiCo will enable Khula to expand its reach beyond South Africa and leverage PepsiCo’s global presence and supply chain to create new opportunities for farmers.

The round also included participation from Newtown Partners, Saviu Ventures, AAIC Investment, Axian Ventures, and CFAO’s Health54, bringing Waspito’s total funding to $5.2 million since last year’s $2.7 million seed round.

This significant investment will fuel Waspito’s growth initiatives, particularly in expanding its telemedicine services across the Francophone region.

The startup, founded in early 2020 by Jean Lobe Lobe, has established itself as a leading provider of accessible healthcare services through its health-focused social network.

At the heart of Waspito’s success lies its unique health ecosystem, which connects users (patients) directly with verified doctors through instant video calls.

Unlike traditional telemedicine platforms that require pre-registration and scheduled appointments, Waspito prioritizes immediate access to healthcare, enabling users to connect with available doctors in real-time.

This approach addresses the urgent healthcare needs of users and aligns with Waspito’s vision of making healthcare accessible to all.

Further enhancing the user experience, Waspito facilitates sample collection from homes and the delivery of medication, providing a comprehensive healthcare experience.

This integrated approach has earned Waspito the moniker “Facebook for healthcare,” reflecting its user-friendly platform and commitment to providing accessible healthcare services.

Earlier this year, Waspito expanded its operations to Ivory Coast, introducing a hybrid model that combines virtual consultations with offline mini-clinics.

This significant investment aims to drive the expansion of African cross-border trade and provide much-needed support to small and medium-sized enterprises (SMEs) operating in the sector.

Founded in 2021 by Moni Alli, a former McKinsey consultant with extensive experience in digital transformations for tier-one banks, FrontEdge specializes in catering to the financial needs of SME exporters and importers.

The company provides working capital and software tools to facilitate seamless cross-border and international transactions, addressing the prevalent financing gap faced by SMEs in the African region.

FrontEdge’s innovative approach distinguishes it from traditional banks.

Unlike conventional lenders, FrontEdge offers upfront capital to exporters based on transaction-based underwriting, eliminating the requirement for collateral.

This flexible approach allows exporters to access financing at critical stages of their transactions, often when goods are in transit or at the warehouse. By accelerating receivables, FrontEdge empowers exporters to engage in more trade opportunities.

Beyond its lending capabilities, FrontEdge has evolved into a comprehensive trade finance platform.

The company integrates with various databases to provide valuable insights into cross-border trading dynamics and underwrites offshore credits of buyers. Additionally, FrontEdge facilitates the setup of overseas offshore accounts, addressing the challenges associated with capital controls and high banking fees.

With the newly secured funding, FrontEdge plans to expand its operations and enhance its service offerings.

The company aims to hire additional talent, scale its financing product across Nigeria, Ghana, Ivory Coast, and Kenya, and launch new products to diversify its revenue streams beyond financing.

TLG Capital were among the lead investors in the startup’s latest funding round.