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.

This funding will enable Ed Partners Africa to expand its reach and provide much-needed financial support to schools that are striving to offer quality education at affordable prices.

Founded in 2018, Ed Partners Africa has already made a significant impact on the Kenyan education landscape, reaching over 100,000 students across 350 schools.

The company provides infrastructural loans to schools to support the construction of new classrooms, washrooms, laboratories, and dormitories, as well as the acquisition of computers, buses, vans, and internet connectivity.

The loan guarantee from DFC will be instrumental in helping Ed Partners Africa expand its reach and provide essential financial support to even more schools.

This funding will enable the company to continue its mission of making quality education accessible to underserved populations in Kenya.

“This is an important transaction that will provide vital financing to support increased access to affordable, quality education, especially among underserved populations in Kenya,” said James Polan, Vice President of DFC’s Office of Development Credit.

“The investment reflects DFC’s commitment to improving access to education in Kenya and supporting sustainable development in the region.”

Ed Partners Africa’s CFO, Janet Waweru, expressed her gratitude for DFC’s support. “We are thrilled to partner with DFC in our efforts to expand educational opportunities in Kenya and East Africa.”

This partnership between Ed Partners Africa and DFC is a significant step towards ensuring that all Kenyan children have access to quality education, regardless of their socioeconomic background.

With the support of DFC, Ed Partners Africa will continue to play a vital role in improving educational outcomes and creating a brighter future for Kenyan students.

The investment comprises $3.2 million in equity and over $4 million in debt, led by Ventures Platform and MaC Venture Capital.

The funds will be instrumental in quadrupling Shekel Mobility’s current Annual Recurring Revenue (ARR) of slightly over $2 million.

The startup plans to leverage this financial infusion to strengthen its market position and seize opportunities in the rapidly evolving African automotive market.

In its 20 months of operation, Shekel Mobility has demonstrated substantial traction, facilitating over $56 million in auto dealer transactions and supporting the growth of more than 1,400 dealers across 7,000 cars.

This proven track record showcases the effectiveness of Shekel Mobility’s platform in driving real-world transactions within the African used car market.

Founded by Benjamen Oladokun and Sanmi Olukanmi, Shekel Mobility is driven by the vision of becoming the premier platform for launching and growing car dealerships in Africa.

With a target of reaching transactions amounting to $10 billion annually by 2025, Shekel Mobility is poised to play a transformative role in shaping the future of the African automotive landscape.

The program aims to promote economic growth, accelerate mitigation and adaptation efforts, and reduce the carbon footprint of the South African economy.

The AfDB loan will be used to support structural reforms aimed at restoring energy security, promoting private sector participation in the electricity market, and improving the operational efficiency of state-owned utility Eskom.

The loan will also support efforts to increase renewable energy production, direct businesses towards low-carbon activities, and improve the financing of green projects.

The AfDB loan is accompanied by a $629,800 grant co-financed by the Climate Insurance Fund.

The grant will support efforts to ensure that affected communities are not left behind, integrate more women into the decision-making process, and help young entrepreneurs, particularly women, to acquire skills and create jobs in the green economy.

In addition to the AfDB, the South African government’s Energy Governance and Climate Resilience Program is funded by the World Bank ($1 billion), Germany ($551 million), and Canada ($91 million).

The AfDB loan is a significant contribution to South Africa’s efforts to transition to a clean energy future and build a more climate-resilient economy.

The program will help to create jobs, reduce pollution, and improve the quality of life for all South Africans.

The investment will support GNA’s mission to empower approximately 30,000 smallholder farmers in southern Africa by providing access to inputs, input finance, climate-smart training, and a guaranteed market for high-value produce.

GNA’s business model is designed to help smallholder farmers professionalize their businesses and escape poverty.

The company focuses on the cultivation of drought-resistant, early-maturing legume seed varieties such as beans, cowpeas, soybeans, and groundnuts. This helps farmers to reduce their risk and improve their resilience to climate change.

GNA’s investors were drawn to the company’s innovative business model, its strong track record of success, and its commitment to social impact.

Goodwell Investments, Oikocredit, and GP SVF all have a mission to support African companies contributing to a more inclusive and sustainable society.

The new investment will enable GNA to expand its reach and impact.

The company plans to grow its client base to 50,000 farmers by 2027 and deepen its client engagement.

GNA will also use the funding to develop new genetics for greater yields and resilience and continue innovating in agricultural supply chains.

GNA’s success is a testament to the power of social enterprise to address complex challenges.

GNA is helping to create a more prosperous and sustainable future for Africa by providing smallholder farmers with the resources and support they need to succeed.

The investment will fuel the company’s expansion plans and enhance its ability to connect job seekers with life-changing employment opportunities.

Founded in 2018 by Christiaan van den Berg and Heine Bellingan, JOBJACK is a free-to-use web-based platform that empowers job seekers seeking entry-level positions.

The platform guides users through a seamless CV creation process, enabling them to apply directly from their mobile phones.

Notably, JOBJACK is data-free for MTN and Vodacom network users, further removing barriers for job seekers.

With nearly two million registered job seekers and a daily growth rate of 2,000, JOBJACK has established a strong presence in the South African recruitment landscape.

The newly secured funding will fuel the company’s operational expansion and network growth, allowing it to connect even more job seekers with promising career opportunities.

NEXT176 led the funding round, with participation from the Michael & Susan Dell Foundation.

This investment signals a strong belief in JOBJACK’s potential to transform the entry-level recruitment landscape and empower South Africa’s youth.

Ona Meyer, programme manager for youth employment at the Michael & Susan Dell Foundation, emphasized the organization’s commitment to supporting companies that provide innovative solutions to address the unemployment challenge faced by many South Africans.

The foundation’s investment in JOBJACK aligns with its mission to empower individuals and families through access to meaningful employment opportunities.

With its fresh injection of capital, JOBJACK is poised to make a significant impact on the South African recruitment landscape, particularly in the entry-level segment.