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
WeBuyCars, a South African used car company, lists on the Johannesburg Stock Exchange, opening R20 per share at a market capitalisation of R8.34 billion ($444 Million).
As part of its Series B round, Kenya-based climate tech startup SunCulture secured $12 million from InfraCo Africa and Savant Group to enhance its solar irrigation solution in sub-Saharan Africa, joining other investors like Netflix’s ex-CEO and former Google chairman.
A month after Renew Capital launched its latest pan-African tech fund, Renew Venture Lab Fund 2, the impact investment firm has made its first investment in Ghana, supporting Affinity, a local fintech company.
African tech-driven beauty startup Zuri has received its initial institutional tech investment from Launch Africa Ventures for pan-Africa expansion.
Panache Ventures, a Canadian venture fund, has partnered with African fintech Kora to help African tech founders access venture capital funds.
Remedial Health, a Nigerian healthtech startup, has unveiled an updated version of its app with a digital POS and barcode scanner to drive business growth and profitability for healthcare businesses in Africa.
ThriveAgric, a Nigerian-based agritech company, is partnering with Dutch Acorn Rabobank to equip 30,000 small-scale farmers to generate $56 million in carbon credits.
Pezesha, a Kenyan fintech startup, and MarketForce, a B2B eCommerce platform, have reached an out-of-court settlement following months of legal proceedings. MarketForce will repay its debts with intangible assets valued by Pezesha.
Techstars-backed Jump n Pass has signed a deal with Justrite Superstore to activate its mobile self-checkout services at all Justrite outlets in Nigeria. The startup enables customers skip queues by scanning items with a smartphone and paying online.
Nigerian fintech startup PiggyVest could go public “in a few years,” according to its CEO, Somtochukwu Ifezue.
YouScribe, in collaboration with Digital Virgo and MTN, has expanded its services to Ghana as part of its multilingual digital library initiative. YouScribe, in collaboration with Digital Virgo and MTN, has expanded its services to Ghana as part of its multilingual digital library initiative.
Launched in January 2024, Rivia, a Ghanaian healthtech startup, has acquired Waffle, a SaaS company, to improve operations.
Roam, a Kenyan electric mobility company, has partnered with Mogo, a financial solutions startup, to provide financing packages to interested electric motorcycle buyers.
As part of its commitment to invest in 1,000 African startups by 2033, Kenya’s Baobab Network, an early-stage investor that supports African startups, has acquired Reflector Marketing, a strategy and branding agency.
Sim Shagaya, a serial entrepreneur and the founder of uLesson, an edtech platform, plans to launch the Honey Badger Fund to support African entrepreneurs.
In the Nigerian tech scene, funding stands out as a primary concern. In this piece, startup lawyer @UyiDLaw delves into the realities of securing funding for startups, cutting through the hype and offering insights on overcoming investment challenges in the sector.
Thepeer’s plan was to be an “API-based payments layer where fintechs can enable money movement natively from within their respective wallets and apps.” But after three years and $2.1 million in funding, the startup is returning investor funds and shutting down.
Yango Delivery, a logistics startup, has launched a new feature to address the logistics ecosystem’s inefficiency and unclear pricing across Africa.
Janngo Capital Startup Fund (JCSF) has received €4 million ($4.3 million) in investments from Tunisia’s fund of funds, “ANAVA,” to invest in francophone African startups and women-founded businesses.
Wasoko’s valuation has been slashed to $260 million after VNV Global, a Swedish investment firm, cut the value of its stake in the startup by 48%.
