This investment will fuel the company’s growth and accelerate the development of its AI-powered recruitment solutions.

Founded in 2021, Kwiks streamlines the hiring process by connecting companies with top freelance headhunters.

The platform’s innovative approach has gained traction in the Moroccan market, and this new funding will enable Kwiks to expand its reach and enhance its services.

“We are thrilled to have Azur Innovation Management as a strategic partner,” said Amine Khayatei Houssaini, CEO of Kwiks.

“Their investment will allow us to further develop our AI-driven solutions and provide even greater value to our clients.”

The funding will enhance Kwiks’ recruitment platform, including developing advanced AI features that automate candidate screening and matching.

This will help companies hire more efficiently and effectively, saving time and resources.

“Our goal is to revolutionize the recruitment industry by leveraging technology to connect companies with the best talent,” said Karim Kaoukabi, co-founder of Kwiks.

“This funding will help us achieve that goal and position Kwiks as a leader in the HRtech space.”

The investment will fuel ABC’s growth plans, including expanding its client base, increasing agent coverage, and introducing new financial services.

ABC, established in 2017, is a licensed Payment Systems Operator focused on providing accessible financial services to underserved communities in Uganda.

Richard Jabel, ABC’s CEO, expressed his enthusiasm for the partnership, stating that the investment will enable the company to further enhance its services and improve access to basic financial services through mobile phones, agents, and merchants.

Goodwell’s investment comes at a time when Uganda’s financial technology landscape is experiencing rapid growth.

Other notable payment providers, such as Flutterwave, eTranzact, and NALA, have also secured licenses to operate in the country, indicating a growing demand for digital payment solutions.

The announcement was made following a meeting between Nigerian President Bola Tinubu and senior executives of the soft drink giant.

The investment pledge comes as a boost to Nigeria’s economy, which has faced challenges attracting foreign investment due to factors such as forex shortages and bureaucratic hurdles.

John Murphy, President and Chief Financial Officer of Coca-Cola, and Zoran Bogdanovic, CEO of Coca-Cola HBC, met with President Tinubu to discuss the company’s expansion plans.

Bogdanovic highlighted Coca-Cola’s previous investments in Nigeria, totaling $1.5 billion since 2013, which have focused on expanding production capacity, improving the supply chain, and investing in training and development.

The additional $1 billion investment will further strengthen Coca-Cola’s presence in Nigeria, a market with a population of over 200 million.

The investment round was led by Al Mada Ventures, with participation from CDG Invest, Saviu Ventures, UM6P Ventures, Kalys VC, Plug & Play, and prominent business angels Philippe Limes and Thane Kuhlman.

Founded in 2018, Userguest offers an automated platform that enables hotels to curate personalized messages and incentives for website visitors, ultimately increasing direct bookings.

The startup’s technology has already been adopted by hotels in over 30 countries, generating more than $100 million in direct revenue since 2019.

The newly acquired funding will fuel Userguest’s expansion plans, including the development of new features and products and the expansion of its sales team.

The company aims to strengthen its market position as a leading provider of direct revenue optimization solutions for the hospitality industry.

“This investment validates our vision of creating an automated tool that helps hotels maximize their revenue,” said Hicham Benyebdri, co-founder of Userguest.

“With this funding, we can accelerate our growth and continue delivering exceptional value to our customers.”

Yassine Soual, from Al Mada Ventures, expressed enthusiasm for the investment, highlighting Userguest’s innovative approach and commitment to customer satisfaction.

“We are confident that this funding will enable Userguest to become a dominant player in the hospitality tech space,” he said.

This significant investment will fuel the startup’s expansion and solidify its position in the regional education market.

Farid, founded in 2024 by Mahmoud Hussein, is a platform dedicated to providing innovative educational solutions for children and adolescents aged 3 to 18.

The company focuses on character education, mental health support, and personal skills development, utilizing modern methodologies to foster well-rounded individuals.

With this new funding, Farid plans to expand its educational platform, develop new training content, and hire additional staff.

The startup also aims to enter new markets, including Saudi Arabia and the United Arab Emirates, building upon strategic partnerships with Egyptian schools.

“This investment will enable us to accelerate our growth and reach a wider audience,” said Mahmoud Hussein, the founder and CEO of Farid.

“We will use the funds to enhance our platform, develop new training programs, and expand our operations in key markets.”

The new fund, named Unconventional Capital, offers a non-dilutive, revenue-based financing model, providing early-stage businesses with capital without requiring them to give up equity.

This approach is designed to address the challenges faced by many African SMEs in securing traditional venture capital funding.

The fund will be co-led by Esther Ndeti and Franziska Reh, who will serve as Managing Partners.

Ndeti is currently Uncap’s Investment Principal, while Reh is the CEO of the firm.

Unconventional Capital will collaborate with strategic partners such as O-Farms and SAIS to identify and support promising African businesses.

Global institutions, including the Bill & Melinda Gates Foundation and the Bayer Foundation, have also expressed their support for the fund.

Uncap’s revenue-based financing model is expected to be particularly attractive to African SMEs that often struggle to raise capital while maintaining control over their operations.

Since its establishment in 2019, Uncap has invested in 87 companies across seven sub-Saharan African countries.

The firm plans to support each company with between $22,000 and $112,000 in funding. To be eligible, SMEs must be registered limited companies in Kenya, Rwanda, Uganda, or Nigeria, with at least two years in operation and a minimum revenue of $89,000 in the past 12 months.

In addition to launching the new fund, Uncap announced the separation of its financial operations from Level, a stand-alone SaaS platform designed to simplify investment management for funders and accelerators in Africa.