African crowdfunding Article / crowdfunding Blog

E-logistics platform secures $150 000 in seed funding

Uganda-based e-logistics tech startup Ridelink has secured $150 000 in a pre-seed funding round led by Ortus Africa Capital, Omidyar Network and African Leadership Academys Young Entrepreneurs Fund (Anzisha). Daniel Mukisa, CEO of Ridelink explains what the funding will be used toward. We plan on using the capital raised to build globally competitive and robust technology and accelerate our marketing campaigns. Ridelink Founded in 2017, Ridelink is a

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African fintech pawaPay secures $9-million

African fintech pawaPay has secured $9-million in a seed funding round co-led by MSA and UK-based investment fund 88mph , with participation from Vunani Capital , Kepple Ventures and Zagadat Capital. According to reports the funding will be used to help scale the fintech's operational presence, grow the existing team and expand in new markets across Africa. Nikolai Barnwell, CEO of pawaPay comments on the funding secured and the startup's growth prospects.

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Egypt tech startup secures $15-million investment

Cairo-based B2B eCommerce platform and tech startup MaxAB has secured $15-million in investment funding from a previous undisclosed investor. In addition, the rapidly growing tech startup has announced the acquisition of WaystoCap , a Morocco-based B2B eCommerce and distribution platform that connects retailers with suppliers across Africa. According to reports, the acquisition will help the tech startup to accelerate its expansion into the Maghreb market which will be supplemented

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Kenyan tech startup secures $475 000

Nairobi-based tech startup, CashBackApp has secured $475K in a pre-seed funding round led by Lofty Inc, Sherpa Ventures and Loyal VC with participation from several angel investors from the US, UK, Nigeria and Kenya. CashBackApp has secured $475k in pre-seed funding The pre-seed funding secured will be used to help scale the tech startup across the region and into other African countries. In addition, the funding will supplement the optimisation of the tech platfor

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Bolt raises R10.3 billion to boost grocery delivery service

E-hailing platform Bolt has closed a R10.3 billion funding round with it set to expand its new grocery delivery service, Bolt Market. Announced on 2 August, the round brings the company's valuation to more than R68.6 billion. "Bolts mission is to make urban travel affordable and sustainable," Bolt CEO, Markus Villig, said in a statement. "We are building a future where people are not forced to buy cars that cause traffic and pollution, but they can rather use

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CDI's Growth Fund opens grant applications for growing SMMEs

The pandemic has seen businesses large and small offer free goods and services, grants and other support to small enterprises, reflecting the heart and resilience of SAs people. CDI Capital has opened another round of applications to the CDI Capital Growth Fund from small businesses. The announcement was made in a statement on 27 July 2021. CDI Capital Growth Fund opens applications The fund aims to support businesses in early growth stages and create

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Woman-led edtech Ambani wins IM IN 2021 accelerator

Mukundi Lambani , founder of Ambani Africa , an interactive African-language based early childhood edtech, has been announced as the winner of the third cohort of the IM IN accelerator , supported by IDF Capital . The winner and runners-up were announced at the virtual Demo Day held on 30 July 2021, where Ambani received a R250 000 cash prize. The Demo Day judging panel included VC heavyweights such as Llew Classen of Newtown Partners, Keet van Zyl of Knife Capital and

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SA agritech Khula! launches app after closing R20m funding round

Joburg-based award-winning agritech Khula ! announced the launch of their new app in a statement yesterday, after closing a R20-million seed round led by AECI and ESquared Investments . Founded in 2016 by Karidas Tshintsholo (CEO), Matthew Piper (CPO) and Jackson Dyora , the startup has recently been celebrated through several awards, including winning the MTN Business App of the year in SA for 2018/2019, making it into the 10 Social Enterprises in the World in the Chivas Regal Glob

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New African VC aims to aid SMMEs with early-stage funding

Nigeria-based pre-seed and seed firm Voltron Capital announced its official launch in a statement last week. The firm aims to focus on startups emerging from Nigeria, Kenya, SA and Northern Africa. Innovative, seasoned angel investor Olumide Soyombo and partner Abe Choi , CEO of Simple Dealer are at the helm, aiming to invest in 30 African startups at $20 000 to $100 000 per individual investment. African startups need early-stage investment Voltron C

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Edtech Go1 is SAs first unicorn after closing $200m round

Leading corporate edtech Go1 has announced the closing of a $200-million Series D funding round. The round skyrocketed the company into unicorn status, bringing its valuation to over $1 billion. Founded by SA entrepreneur Melvyn Lubega and Australian national Andrew Barnes in 2015, the edtech platform collates existing learning material from leading global educational institutions into a central digital library, making corporate training simple for employees and employers. <br

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Convergence Partners close Digital Infrastructure Fund at $120m

Private equity investor Convergence Partners has announced it has successfully closed its Digital Infrastructure Fund (CPDIF) at $120 million. The firm specialises in investment in digital infrastructure in Africa and has more than $400 million of capital under management. "We are delighted to have achieved this milestone particularly given the headwinds in African PE fundraising generally, and the impact of the COVID pandemic on business activity, over the past 12 months

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SA payments platform Yoco raises $83m in funding

South African payments platform Yoco has announced that its Series C round of funding has raised $83 million — or R1.2 billion — for the company. This brings the total funds raised by the company to date to $107 million. Yoco attributes the success to a surge in demand for digital payment solutions from African SMEs. The company, which offers payment technology and software solutions, has reached over 150 000 small businesses in South Africa since launching it

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