Category: New Investments

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Egypt’s Balad secures seven-figure Pre-seed funding to drive financial inclusion

New Investments

Egypt’s Balad secures seven-figure Pre-seed funding to drive financial inclusion

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Balad, a rising star in the Egyptian fintech scene, has closed a seven-figure pre-seed funding round.

The funding round was led by Acasia Ventures, with participation from other investors such as Launch Africa Ventures, Future Africa, V&R, MAGIC Fund, First Circle Capital, Sunny Side, and several family offices. Founded in 2022, Balad aims to revolutionize financial inclusion in Egypt by leveraging innovative technology solutions. With a strong focus on the unbanked and underbanked population, Balad aims to empower individuals and small businesses with access to financial services that were previously out of reach.Through this investment, Balad is now equipped with additional resources to expand its operations, strengthen its technology infrastructure, and scale its services to reach more individuals and businesses in need.

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SA e-health startup Quro Medical raises $1.3m from the Mineworkers Investment Company

New Investments

SA e-health startup Quro Medical raises $1.3m from the Mineworkers Investment Company

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Quro Medical, a pioneering leader in innovative healthcare solutions, has secured a $1.3 million investment from the Mineworkers Investment Company (MIC).

Founded in 2018, Quro Medical is at the forefront of redefining healthcare delivery in South Africa. With a vision to provide quality care outside traditional hospital settings, Quro Medical’s Hospital-at-home Services offer a transformative approach that brings personalised medical care to the comfort of patients’ homes. The new investment will empower Quro Medical to expand its operations, scale its services, and further develop its cutting-edge technology platform. The startup’s latest investment marks a pivotal moment in its journey towards reshaping healthcare in South Africa.

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Chargel raises $2.5m seed funding to revolutionize logistics in Francophone Africa

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Chargel raises $2.5m seed funding to revolutionize logistics in Francophone Africa

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Senegalese logistics company Chargel has secured $2.5 million seed funding for Francophone Africa expansion.

The funding round was led by Logos Ventures, with the participation of Ventures Platform Fund, Foundation Botnar, DFS Labs, and Seedstars. Founded in 2018, Chargel is revolutionizing the trucking industry in Francophone Africa by seamlessly connecting shippers with the perfect transporters at competitive prices and managing everything from payments to fuel and insurance.

 

As part of its mission to simplify the logistics landscape, the innovative startup is creating the biggest trucking network in Senegal. This move is aimed at empowering shippers to find reliable transporters while helping transporters increase their operations’ efficiency by maximizing truck capacity

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Nomba raises $30m Pre-Series B funding round

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Nomba raises $30m Pre-Series B funding round

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Nigerian payment service provider Nomba has raised a $30 million Pre-Series B funding round to enable businesses to easily and securely receive customer payments across Africa

The funding round was led by San Francisco-based Base10 Partners, with participation from Partech, Khosla Ventures, Helios Digital Ventures and Shopify. Founded in 2016, Nomba is creating tools for businesses to manage sales, money and payments without hurdles. The startup is on a mission to build an ecosystem that simplifies how businesses accept payments, make payments and manage operations.

 

Nomba intends to invest the new funding in delivering tailored payment and operational solutions designed for specific businesses, including food companies, restaurants, logistics and transport companies, to plug gaps in their payment processes.

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Nigerian recycling startup WeCyclers secures $2 million to recycle 30,000 tonnes of plastics

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Nigerian recycling startup WeCyclers secures $2 million to recycle 30,000 tonnes of plastics

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Wecyclers Corporation, a leading Nigerian recycling startup, has secured $2 million in funding to recycle 30,000 tonnes of plastics over the next five years

The new investment was provided by the French investment bank Société Générale; through Unilever West Africa Nigeria. Wecyclers will use the new funding to expand its activities in Nigeria, where it has been collecting, sorting and recycling plastic waste. Launched in 2012, the startup aims to create a sustainable future by promoting recycling and waste reduction. They use innovative technology and social entrepreneurship to incentivize people to recycle their waste, especially in underserved communities. Wecyclers’ mission is to create a circular economy where waste is viewed as a resource, not a burden.

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Pan-African neobank Payday has raised $3 million in seed funding

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Pan-African neobank Payday has raised $3 million in seed funding

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Payday (Techstars ’21), one of Africa’s leading Pan-African neobank, has raised $3 million in seed funding to drive the future of work for the continent.

The funding round was led by led by TeamApt Inc. (now Moniepoint Inc) Inc, with participation from HoaQ, DFS Lab’s Stellar Africa Fund, Ingressive Capital Fund II and angel investors – Dare Okoudjou, Founder and CEO of MFS Africa and ‘Tola Onayemi of  Norabase. The investment brings Payday’s total investment to $5.1m, following a $2m+ pre-seed round in 2021. Founded in 2021, Payday is a fintech startup helping Africans send and receive money globally.

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South African fintech startup Peach Payments closes $31 million Series A funding round

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South African fintech startup Peach Payments closes $31 million Series A funding round

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South African fintech startup Peach Payments has closed a $31 million Series A funding round for expansion.

Peach Payments is a cutting-edge payment platform that allows businesses of all sizes to process payments quickly, securely, and efficiently. By leveraging the latest technology and a deep understanding of customer needs, the startup has emerged as a leader in the fast-growing fintech sector. Peach Payments secured the latest investment from Apis Growth Fund II, a private equity fund managed by Apis Partners, a UK-based asset manager. The startup will use the funding to fuel its expansion plans across South Africa and beyond.

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Nigerian innovative shared-mobility platform Shuttlers secures $4 million for expansion

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Nigerian innovative shared-mobility platform Shuttlers secures $4 million for expansion

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 Shuttlers, a Nigerian innovative shared-mobility platform, has secured $4 million in funding for expansion.

The funding round was led by Verod-Kepple Africa Ventures, with follow-on investment from VestedWorld, EchoVC Partners, CMC 21 & Alsa, and SheEquity. Founded in 2016, Shuttlers offers a range of shared transportation options, including buses, vans, and cars, with routes that cover major cities and suburbs across Nigeria. Their app-based platform allows users to book rides in real-time, and the company is committed to providing safe, comfortable, and reliable services. The company aims to make transportation more accessible and affordable for all Nigerians.

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Kenyan agritech Victory Farms has raises $35 million in Series B funding round 

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Kenyan agritech Victory Farms has raises $35 million in Series B funding round

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Kenyan agritech Victory Farms has raised $35 million in Series B funding to finance its expansion plans.

Creadev led the Series B round, with participation from the Acumen Resilient Agriculture Fund (ARAF), DOB Equity, Endeavor Catalyst Fund, and Hesabu Capital. Founded in 2015, Victory Farms leverages innovative technologies to bring together the best aquaculture practices from around the globe to tackle the challenges of; rapidly declining wild fish catch in Lake Victoria, rising populations and undernourishment. The startup is on a mission to build a commercial tilapia farm to feed 2 billion Africans with affordable, accessible and healthy protein over the next two decades. Victory Farms intends to invest the funding to finance the expansion of its operations in Kenya and Rwanda and potential entry into Ethiopia, Uganda, and Tanzania.

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