· 2 months ago

The Funding Brief: A total of $160M was raised this week, and more

Jumo CEO Andrew Watkins-Ball. funding

Jumo CEO Andrew Watkins-Ball.

This week registered the highest round of funding raised across the continent since the year began when Naspers invested in Webuycars. Several other investments were made including the $54 million in Jumo in a round led by Goldman Sachs. In total, at least $160 million was raised by startups across the continent. Find the details and more below;

Egypt’s MAYDAY closed $20,000 in a funding round led by VFlock

Within 4 months of its inception, MAYDAY has successfully raised $20,000 in a funding round led by VFlock and a capital injection from its founders. In addition, MAYDAY is currently incubated within the 2nd cycle of the MINT incubator organized by EGBank and Cairo Angels. Find details on Magnitt.

The Carlyle Group has completed the acquisition of Uganda’s Abacus

The Carlyle Group announced that it had completed the acquisition of Uganda’s Abacus, a pharmaceutical company. There were no Financial terms disclosed. But, the Global Asset Manager pointed out that the deal was made by its Africa-focused fund. Full details on Digest Africa.

Egypt’s A15 sells its 76% stake in Dubai’s TPAY to Helios

A15, a tech investment fund, sold a 76% stake in U.A.E. based fintech company TPAY to Helios Investment Partners. There were no specific monetary details revealed. According to A15, the sale made it the “first fund in the Middle East and Africa which created a Dragon from one of its investments, TPAY.” Full details on Digest Africa.

Vezeeta raises $12 million Series C led by STV for its healthcare platform

Cairo-based health tech startup Vezeeta raised $12 million in its Series C round led by Saudi Arabia’s STV Capital, the largest VC fund of Middle East & North Africa. It is the largest-ever investment raised by an Egyptian startup. Vezeeta’s existing investors including BECO Capital from UAE, Sweden’s Vostok New Ventures and Silicon Badia from Jordan also joined the round along with Dubai-based Crescent Enterprises’ CE Ventures. With this round, Vezeeta has now raised about $22.5 million in funding so far, which makes it one of the best-funded startups in the region. Full details on Menabytes.

Tunis-based robotics startup ‘Enova Robotics’ raises $1.6 million in the largest funding round for a Tunisian startup

Enova Robotics, a Tunisian robotics startup raised $1.6 million investment in what’s the largest-funding round for a Tunisian startup, according to Menabytes. The investment came from Tunisian investment firm Capsa Capital and valued the company close to $5.4 million. Full details on Menabytes.

Cape Town-based Jumo closes $52M from Goldman Sachs

Jumo, a company that offers loans to the unbanked in Africa, has closed $52 million in a venture round according to TechCrunch. Goldman Sachs led the round, though, there was participation from existing backers. This includes Proparco, Finnfund, Vostok Emerging Finance, Gemcorp Capital, and LeapFrog Investments. Full details on Digest Africa.

Naspers has invested $94M in SA’s Webuycars through OLX Group

Naspers announced that it made a $94 million (1.4 billion Rand) investment in South Africa’s Webuycars, a specialized car buying service. The investment was through Naspers’ Classifieds business, OLX Group. Full details on Digest Africa.

That’s it for the week. Don’t forget to subscribe to our newsletter to get this in your inbox.

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