African startup Article / startup Blog

SA fintech launches new virtual card offering

Johannesburg-based fintech startup SOLmate has launched a new virtual card offering and the startup has undergone new branding with a fresh new name. Jonathan Holden, COO of SOLmate comments on the fintech's new name and the new virtual card offering. This rename and new virtual card offering represent a significant step in the companys evolution. The positioning perfectly illustrates our growing ambition in the market and how we aim to always put our customers first ab

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Plans and findings of proposed SA startup act to be revealed

The plans and latest findings towards the creation and implementation of the proposed South African Startup Act will be revealed at an event hosted on 16 September 2021. The South African Startup Act The proposed South African Startup Act aims to facilitate and promote the growth and innovation of young South African entrepreneurs. The proposed act has been in the planning phase for the last six months with research being conducted via focus groups and in-depth research method

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Ride hailing app DiDi launches in Egypt

Chinese transportation giant DiDi Chuxing has launched operations in Egypt, beginning at the Alexandria governorate. The company will operate 'Wasalny' or 'Wasalny +' services in a move that rivals competitors Uber. Didi offers transportation services across 17 countries globally, making Egypt its second African market after its earlier entry into South Africa. DiDI's Head of Government relations in North Africa and the Middle East, Moanis Amin, confirmed the limited entry in Alexand

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SA edtech startup Ambani Africa wins MTN Business App of the year 2021

Local edtech Ambani Africa has scooped several top awards at the 2021 MTN Business App Year Awards. The app has received the title of Best educational, Best Gaming Solution, and Best South African solution, winning a $68000 prize money. Ambani Africa was founded by Mukundi Lambani who previously emerged winner in the winner of the third cohort of the I'M IN accelerator. The edtech operates a mobile app offering an educational learning portal catering to children who can speak in Sout

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Mastercard launches Global Sustainability Innovation Lab to support impact-driven startups and customers

Mastercard has launched a new Sustainability Innovation Lab that will spearhead the development of its portfolio of environmentally conscious digital products and solutions. The lab specifically focuses on ways to empower both businesses and consumers in the transformation of their production, distribution, and purchase processes. The global lab will be based in Stockholm, Sweden, as an endorsement of the EU's Green new deal and reputation for sustainable innovation. Chief Sustainabi

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Ride hailing app DiDi launches in Egypt

Chinese transportation giant DiDi Chuxing has launched operations in Egypt, beginning at the Alexandria governorate. The company will operate 'Wasalny' or 'Wasalny +' services in a move that rivals competitors Uber. Didi offers transportation services across 17 countries globally, making Egypt its second African market after its earlier entry into South Africa. DiDI's Head of Government relations in North Africa and the Middle East, Moanis Amin, confirmed the limited entry in Alexand

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Nigeria startup Releaf receives $4.2M funding and looks to scale services

Releaf a Nigerian agritech startup has secured $4.2 million in funding which comprises a $2.7 million seed funding round and an additional $1.5 million in grants. The round was led by Samurai Incubate Africa, Future Africa, and the Consonance Investment Managers. Other angel investors that took part are Stephen Pagliuca the Chairman of Bain Capital, and Justin Kan of Twitch. The grants came from CFYE (The Challenge Fund for Youth Employment) and USAID (the United States Agency for International

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Genomics research healthtech 54gene raises $25M in a Serie B funding

Washington D.C-Nigerian genomics research healthtech 54gene has raised $25 million in a Series B round led by Cathay AfricInvest Innovation Fund alongside participation from some existing investors such as Adjuvant Capital , KdT Ventures, and Ingressive Capital. 54gene CEO Abasi Ene-Obong said the new capital will advance plans for a global African drug discovery company leveraging deep insights in genomics research in diverse populations ensuring true equity for Africa's pop

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Flutterwave partners with Currencycloud to accelerate EU and US expansion drive

Africa fintech unicorn and payment technology company Flutterwave has partnered with Currencycloud , a global payments platform built on smart technology that simplifies the movement of money in today's multi-currency world. The new partnership looks to accelerate Flutterwave's expansion into the European and US markets. The partnership will ensure Flutterwave's services to customers are enhanced when it comes to receiving money through unique virtual accounts. Currencycloud's partne

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Karooooo acquires SA logitech company Picup for $4.8M

Singapore headquartered Karooooo Ltd. - a leading global provider of a mobility SaaS platform maximizing automotive and workflow data by providing smart transportation real-time data analytics solutions to over 1.4 million connected vehicles - has announced the acquisition of 70.1% of Picup Technologies (Pty) Ltd . for over $4.8 million. Picup is uniquely positioned in the online delivery operational management software industry and operates as a system integration partner of Cartrack.<br

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Ethiopia's Viable Solutions raises $200K in pre-seed funding

Viable Solutions , the Ethiopian firm behind EPhone a super dialer software raised $200K pre-seed funding that has valued the company at $1.9 million. The round was led by Middle Eastern angel investor Ahmed Al Alola , and the CEO and Co-founder of Gebeya Amadou Daffe , a pan-African talent marketplace. EPhone launched in 2019 as a super dialer app. The startup offers a combination of advanced dialing accompanied with smart SMS capabilities, and automated Teleco's USSD services that

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African FinTech platform Finclusion Group secured $20M funding from Lendable

African FinTech platform Finclusion Group has secured $20 million in a funding round led by UK-based Lendable , a leading fintech debt financing provider. Finclusion leverages proprietary artificial intelligence (AI) algorithms alongside pioneering technology, to offer safe financial services while maintaining accurate automated credit decisions. The partnership will help Finclusion increase its reach across the Eastern and Southern markets by creating a sustained impact that

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