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
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.
Zoho, an Indian software company, will increase its prices in response to Nigeria’s economic conditions, effective August 2024.
Nigeria’s identity verification company, Prembly has merged with Peleza, a Kenyan company that does background checks for companies. Both entities will now become Prembly Group, with a workforce of 100.
Entrepreneurship is an extreme sport that takes a toll on founders’ lives, as well as their mental health. Here are ways founders navigate this, including tech solutions that are helping.
Mano, an Angolan grocery delivery startup, has expanded into Lagos and Abuja’s food delivery market. It introduced a new model allowing customers to track and ensure deliveries within a 10km radius of restaurant partners.
Although North African startups receive less venture capital than their West African counterparts, innovation is thriving. Here are seven deep tech startups, from AI healthcare solutions to financial planners.
Andela has added a code playback feature on its Andela Talent Cloud (ATC) platform to enable playback of candidates’ technical coding tests.
Flutterwave has downsized its workforce by about 3%, three months after shutting down its virtual card service, Barter. Reports show that the layoffs primarily affected roles associated with products no longer aligned with the company’s strategic direction.
Navigating fintech licences for early-stage startups can be a daunting task, but it’s essential for any startup looking to thrive in the financial services industry. Here’s a smart way to go about it
Nigeria’s car owners face numerous challenges, including difficulty finding reliable mechanics and high upfront costs for repairs, but Flickwheel’s innovative approach could change the game.
ThriveAgric, a Nigerian agritech startup, has partnered with Visa to expand into Kenya and support up to 10,000 farmers.
Deimos is a six-year-old bootstrapped startup that makes $20 million in annual revenue and has a monthly burn rate of $800K. CEO, Andrew Mori has a principle: “Revenue is vanity, profit is sanity, and cash flow is king.”
A Kenyan court has revoked an initial interim order that forced Wasoko, a Kenyan eCommerce startup, to keep nine ex-employees on its payroll following a contentious layoff in December 2023.
i’SUPPLY, an Egypt-based B2B healthtech company, has raised an undisclosed pre-Series A funding round to expand and improve its services, nearly two years after receiving a $1.5 million pre-Seed round.
African startups frequently pursue geographical expansion as they search for growth, but what are common mistakes to avoid?
Sahl, an Egypt-based fintech company, has raised $6 million in Series A and seed funding to expand into new markets while refining and developing its offerings.
Elevate, a fintech company, has announced that it has secured a $5 million equity debt pre-Series A round from Negma Ventures to expand into South Africa, South Asia, and Southeast Asia.