Startups
In nearly a decade, hundreds of entrepreneurs have emerged with innovative startups across the African continent. We provide insights on their experiences and highlight the activities of investors who fund them.
Top stories
Lucky ONE, an Egyptian consumer credit fintech, has raised $3 million in a convertible bond round to expand its credit platform, aligning with the government’s efforts to improve credit access for the underbanked.
The recent decision by Mercury Bank to cease serving customers from several countries, including Nigeria, has sent shockwaves through our tech ecosystem. Because I work closely with Nigerian founders, I’ve witnessed firsthand the ripple effects of this move. Mercury cited Know Your Customer (KYC) compliance issues as the primary reason, but this blanket ban raises…
Chowdeck and Chicken Republic have entered an exclusive deal in Lagos and Ibadan. The food delivery company will now be the only distributor of Chicken Republic meals in both cities.
Synapse Analytics, an Egyptian AI startup, has secured another $2 million in investment to support expansion efforts, two years after raising a $2 million pre-Series A round.
Google has announced the 10 African startups selected for the 2024 cohort of its Startup Accelerator Africa program, marking the eighth edition since its launch in 2018.
Cartona, an Egypt-based B2B eCommerce platform, has raised $8.1 million in a Series A extension round, to grow its market share and help retailers. This comes a year after it raised $12 million in Series A funding.
Nigerian healthtech company Intron Health has secured $1.6 million in pre-seed funding to advance its AI technology, bolster its research efforts, and expand distribution.
The recent restriction on Mercury Bank’s services in 15 African countries has created an urgent need for startups to find reliable alternatives. Here are five alternatives that could fill in the gap.
Mercury Bank, a US based fintech, has announced it would close accounts opened by business users from 15 African countries, including Nigeria.
Sycamore wins $100,000 at the second edition of the Nigeria Sovereign Investment Authority (NSIA) Prize for Innovation. The lending startup shared the spotlight with Kunda Kids and PaveHQ who won $70,000 and $50,000 respectively.
17 months after a $400 million investment that made it Egypt’s first unicorn, MNT-Halan has raised an additional $157.5 million in a new funding round to support its expansion. This move brings the startup’s total funding to $677.5m over the past two years.
Retail media spending is forecast to reach $100 billion in 2024, and Chowdeck’s ad offering puts it in a prime position to tap into this growing market.
d.light has secured a new financing arrangement to buy $176 million of receivables in Kenya, Tanzania, and Uganda. This funding will help 6 million people in these countries access renewable energy over the next 3 years.
Ignoring this crucial step could cost your startup everything Startup attorney, Omoruyi @UyiDLaw Edoigiawerie, shares insights on protecting your brand, app, proprietary technology, and navigating crucial legal steps on your startup journey
Dopay, an Egyptian fintech, has secured $13.5 million in a Series A extension round to improve offerings and accelerate expansion nearly three years after getting a licence.
Bio-Logical, a Kenyan climate startup, has secured $1.3 million in funding to bolster its operations and establish three new sites across Kenya in 18 months.
TurnStay, a South African travel-focused fintech, has secured R5.4 million ($300,000) to further expand in Africa and strengthen its local market position.
Kenyan beauty startup Uncover, which raised $1 million in seed funding in 2022 and expanded to Nigeria, has now secured an additional $1.4 million to enter the markets in Ghana, Uganda, and the United States.
Only 1.3% of informal businesses in Nigeria generate ₦2.5 million in monthly profit. Most of them generate about ₦250,000 in profit every month.
Despite going into administration, laying off, and pausing operations, Kenya’s Copia is abandoning efforts to revive its cash-strapped company.