Here’s a brief look at the week’s deals as they have happened across the continent.
- Leapfrog Ventures to invest $190k into Uganda’s trio; Xente, Swipe2pay & Francom
Leapfrog Ventures is set to invest $190,000 into Xente, Swipe2pay, and Francom. Xente is taking the bigger chunk with $100,000 while Francom and Swipe2pay will each take $50,000 and $40,000 respectively. Full story on Digest Africa. Earlier this week, Leapfrog announced a $50,000 investment in Kenya’s BiasharaBot.
2. Nigeria’s Paystack closes $8 million Series A from Tencent, Stripe, VISA & YC
Payments startup Paystack has raised $8 million in series A funding. This brings its total amount of funding raised to date to at least $10 million. The startup is looking to use the funds to expand to other African countries with Ghana top of their radar. Get the full story on Digest Africa.
3. Kenya’s Lendable receives $4.5M Dutch Development Bank grant
Lendable has raised the funds in form of a convertible grant from Dutch Development Bank FMO and will be used to fund loans from latter’s alternative lender clients across Africa. Full story on TechMoran.
4. Online tutoring marketplace, Prepclass secures significant Series A funding
The startup has received an undisclosed series A from iROKOTV backer – Rise Capital. Previously, Prepclass had raised a $322,000 grant from GSMA and Techpoint puts the figure they’ve so far raised at least $1,000,000. Full story on Techpoint.
5. Twiga Foods Inks Proposed Multimillion Dollar Deal For Distribution Network
Kenya’s Twiga Foods is a beneficiary of the $238 million from US’s OPIC (Overseas Private Investment Corporation). These were announced during Kenya’s President – Uhuru Kenyatta’s – visit to the US. Of this, Twiga Foods is counting $5 million as its own. You can read the full story on TechMoran.
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