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.
Kenyan clean cooking appliance manufacturer BURN has announced a $15 million investment deal with the European Investment Bank (EIB) to support the distribution of its ECOA Electric Induction Cooker across East Africa.
Madica, a pre-seed investment programme dedicated to supporting early-stage startups in Africa, has announced a new $800,000 investment spread in four promising startups.
WaterEquity, a global asset manager committed to advancing water and sanitation solutions through private investment, has successfully raised over $100 million for its new initiative, the Water & Climate Resilience Fund.
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