The Funding Brief: Mines secures a $13 million Series A, and more

Here's a brief look at the week's deals as they have happened across the continent.

  1. Mines secures a $13 million Series A fund from The Rise Fund.

Mines, a credit-as-a-service digital platform focused on emerging markets has announced closing a Series A funding round of $13 million led by The Rise Fund, a global fund managed by TPG Growth. The plan is to channel the investment towards talent acquisition, continued growth in Africa, and expansion to South America and South-East Asia. Full story on Techpoint.

2. Kazang Solar receives $1.6 million grant from Africa Enterprise Challenge Fund.

Kazang Solar, Azuri Technologies’ official distribution partner in Zambia, has been awarded $1.6 million from the Africa Enterprise Challenge Fund (AECF) under its Renewable Energy and Climate Adaptation Technologies (REACT) window. Full story on TechMoran.

3. Rwanda's Exuus secures $50k from Leapfrog Ventures

Exuus, a Rwandan micro-lending platform has secured investment valued at USD 50 K from Japanese investment firm, Leapfrog Ventures. The Japanese investment firm is also currently believed to be exploring other opportunities and channeling efforts towards triggering further investments in a number of other promising startups within the region. Full story on Weetracker.

4. Nigeria’s early-stage fund Microtraction announces second investment this week

Microtraction, a Nigerian early-stage fund, announced the investments it made in Allpro and this week. The fund promised to announce the third investment this week. However, they have not yet. Overall, once the third investment is announced, the total of Microtraction’s investments – to date and this year – will come to 5. That is Cowrywise, Bitkoin,, Allpro as well as the one he will announce. Full story on Digest Africa.

5. SA property startup acquired by Pam Golding

The South Africa-based Pam Golding Property group acquired local digital estate agency startup as it pursues the “hybrid” estate agency model. There were no much details about the deal. Get the full story on Disrupt Africa. However, following the acquisition, Ventureburn reported that the co-founder of is now relocating to the US.

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Enjoy your weekend - Malinz.

Digest Africa


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