The Daily Brief: Egypt's Swvl raises 'tens of millions' in Series B, and more

Swvl, an app-based mass transit system, has today announced that it closed a Series B. At the same time, Taxify is expanding to four South African coastal towns while Uber is expanding their boda service to Nairobi. That and more in today's brief.

Egypt to host MENA’s first GEN entrepreneurship hub

GEN@Bloomfields, as the hub will be known, is expected to be operational by 2021 and will host several technology labs, “state-of-the-art” workstations, a co-working space, think tanks, a gym, lounges, boardrooms, training rooms, and an atrium which will be used for networking and events. Disrupt Africa.

How MFS Africa is Investing in Africa’s fintech sector

Recently, the Pan-African fintech company announced its second close of Series B funding round. IT News Africa spoke to founder and CEO of MFS Africa, Dare Okoudjou, about the MFS Africa story as well as the recent Series B funding round.

uberBODA launches in Nairobi

The launch comes five months after it began operations in Kampala, Uganda. With the launch, they will directly compete with  TaxifyBoda which launched in Kenya in March this year and other services such GetBoda, VutaRide, SafeBoda, BusyBoda among others. TechMoran.

Taxify expands to four SA coastal towns

The ride e-hailing app says it will launch  in Plettenberg Bay, Knysna, George and Mossel Bay next week, as it prepares for the peak holiday season. IT Web.

Swvl raises tens of millions in Series B funding round

The exact size of this round is not disclosed yet but it is in the tens of millions according to the press release. The round saw participation from all existing investors and some new regional and local investors. It was co-led by BECO Capital, DiGAME and Silicon Badia. In April this year, Swvl announced an $8 million Series. This will, therefore, put them among startups that have raised a significant amount of funding in 2018. Magnitt.

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