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
From “great work culture” to owed salaries, layoffs, and fund diversions: An exposé on Healthlane’s activities in Nigeria and Cameroon
Egyptian fintech startup, Blnk, has raised $32 million across two rounds of funding led by Emirates International Investment Company (EIIC) and Sawari Ventures.
A year after raising $30 million in Series A, Yassir raises $150 million from BOND, DN Capital, Dorsal Capital, Quiet Capital, Stanford Alumni Ventures, and Y Combinator for its super app ambitions.
The funds will be used to expand into other Nigerian cities, including Port Harcourt, Enugu, and Jos, by Q1 2023.
Egyptian fintech startup, Money Fellows, raises $31 million in the first close of its Series B round
Money Fellows has secured $31 million in the first close of its Series B round. It plans to expand its services across Africa and Asia while growing its product offering.
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The company will also use the funds to improve the company’s operations and structure.
MoKo Home, a Kenyan furniture startup, gets a $6.5 million Series B round to expand into new markets
The Kenyan omnichannel retailer also plans to use the cash to expand its growth and presence in Kenya by utilising its online channels and forming new collaborations with merchants and outlets to boost offline sales.
Lifestores will also broaden its B2C offerings with trial projects in patient savings, care management, and pharmaceutical distribution.
Six months after announcing a $1.2 million investment, FlapKap, a startup that provides revenue-based financing for businesses in the Middle East and North Africa, has announced a seed round of $3.6 million.
Stears, one of the 60 startups chosen for the Google for Startups Black Founders Fund 2022 batch in September 2022, plans to use the funds to improve its data collection and analysis.
Trade is vital for ensuring Africans get the products they need for various purposes. However, getting products from manufacturers to consumers is fraught with challenges, but OnePort 365 is using technology to ease it.
It will also use the funds to expand its product offerings for landlords, real estate brokers, and tenants across Nigeria.
After taking a two-year gap from work, Ik Obi, ex-Paystack Integrations Lead, has founded Alvative, a talent out-sourcing and vetting startup for junior developers.
It plans to extend loans to an additional 10,000 businesses to reach its 40,000 targets within the next 18 months.
The company, currently based in Ghana, is looking to expand to Ivory Coast, where it has already begun recruiting new employees.
The company will use the funds to create new solutions and services to fuel growth across the food value chain.
Ghanaian fintech startup, SecondSTAX, receives a $1.6 million pre-seed round to expand its workforce
The company, which has announced its public launch, plans to expand to Ghana and Kenya by the end of 2022.
Remedial Health has raised $4.4 million in its seed round as it seeks to expand its coverage of Nigeria.