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Nigerian tech startup, Zuvy Technologies, has raised $4.5 million in a recent funding round to provide invoice financing for African SMEs.
Zuvy aims to bridge the gap between vendors and buyers by leveraging innovative digital solutions. The company’s platform provides a user-friendly marketplace that connects small-scale vendors with potential customers, enhancing accessibility and expanding the customer base for these entrepreneurs.
The startup’s latest funding round was led by TLG Capital, Dunbar Capital, David Mussafer (chairman of Advent International), Next Chymia Consulting HK Limited, Khalil Osman from Vicus Ventures, and others. The capital injection will enable Zuvy to scale its operations, improve its technology infrastructure, and drive customer acquisition efforts.
Zuvy aims to provide a platform that supports small-scale businesses’ growth while offering customers a superior shopping experience. Since its launch in 2021, Zuvy has steadily gained traction in the Nigerian market.
A UK-Malawian venture, Aftrak, has emerged victorious in the Milken-Motsepe Prize in Green Energy, a competition aimed at boosting access to sustainable electricity in Africa.
Nigerian B2B marketplace startup Eze has raised $3.7m to revolutionize the African electronics market.
Adenia Partners, a Mauritius-based private equity firm specializing in African investments, has announced the successful closing of its fifth and largest Africa-focused fund, the Adenia Africa Fund, at $470 million.