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Kenyan African ecosystem’s end-to-end fundraising startup, Raise, has secured undisclosed funding from San Francisco-based firm, Carta.
Founded in 2018, Raise is on a mission to help African startups to manage equity, seed rounds, legal compliance, and close deals faster. Raise’s platform is designed to simplify cap table management for startups and companies operating within the African ecosystem by providing a comprehensive solution for managing shareholding structures before and after fundraising.
This allows businesses to focus on growth and building a successful future. Carta’s investment in Raise underscores the immense potential of the African fundraising ecosystem. The capital injection will fuel Raise’s technological advancements, enhancing the platform’s capabilities and enabling it to serve its users better. By combining their expertise and resources, Raise and Carta aim to unlock new opportunities, foster sustainable growth, and amplify the impact of social initiatives across the region.

The first half of 2024 marked a challenging period for African startups, with a substantial decline in total funding compared to H1 2023.

Norwegian development financier Norfund has approved a loan to the Mohinani Group to strengthen its recycled polyethylene terephthalate (rPET) operations in Ghana and Nigeria, in a move designed to scale up sustainable packaging solutions across the region.

Egyptian online auto parts marketplace Mtor has secured $2.8 million in pre-seed funding, led by venture capital firm Algebra Ventures, with participation from notable investors, including Dutch Founders Fund (DFF), Aditum Ventures, LoftyInc Capital Management, and several prominent local and global angel investors.