DisrupTech Ventures is an early-stage venture capital fund aiming to provide seed funding to up to 28 startups. The VC fund raised $36 million from several investors, including Development Finance Institutions, Funds-of-funds and Family offices. The investment is projected to be an important financing source for Egyptian tech companies, which often struggle to raise capital to bring their innovations to market.
Launched two years ago, DisrupTech was established to support early-stage Fintech and Fintech-enabled digital services startups focusing on Egypt. The firm adopts a hands-on approach from the beginning, partnering with talented entrepreneurs to transform their vision into reality.
Pan-African digital payments network MFS Africa has joined forces with Mvola, the biggest mobile money provider in Madagascar, to pave the way for inbound international money transfers.
The UK and PwC, in collaboration with the UK-Kenya Tech Hub, have introduced a new digital toolkit designed to assist entrepreneurs in accessing markets in Kenya, Nigeria, and South Africa.
Kenyan identity management startup Peleza and Y Combinator-backed Prembly have joined forces to create a new entity, the Prembly Group.
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