The Funding Brief: MTN's acquisition of Simfy, Twiga Foods, and more

MTN acquired music-streaming service, Simfy, while TLcom and IFC doubled down on Nairobi-based Twiga Foods. That and more in this week's funding brief.

GreenTec invested into Kenya-based Yusudi

The German-based investor did not disclose how much as well as the terms of the deal. But, like most of their deals, they have made across the continent, this is likely to be a non-monetary one. GreenTech Capital Partners.

Kukua secured a $2.5M in a Seed round

EchoVC led the round which means that Kukua joins the likes of LifeBank, Cellulant,, Printivo and more, among EchoVC’s portfolio. Kima Ventures, Founders Factory, Burda Principal Investments and Firstminute Capital also participated in the round. Digest Africa.

Trace acquired a stake in Senegal’s CoinAfrique

The Paris-based media group acquired an undisclosed stake in the mobile classified platform. To their credit, CoinAfrique has developed one of the leading mobile marketplaces for French-speaking Africans. They raised $3 million in April this year and currently have operations in at least 15 countries across francophone Africa. Ventureburn.

South Africa’s FinChatBot secured $563k investment from Kalon, Compass

The financial services chatbot provider FinChatBot has secured the funding from local venture capital firm Kalon Venture Partners and the Mauritius-based Compass Capital. The aim is to fund growth and expansion. Disrupt Africa.

Cairo-based Fakahany raised $700,000 Series Seed

The farm-to-door fresh produce ecommerce platform raised $700,000 in a round led by Endure Capital with some angel investors joining in. MENAbytes.

Seacom acquires FibreCo

The telecom company concluded the sale agreement to acquire 100% of FibreCo Telecommunications for an undisclosed amount. IT Web.

Twiga Foods closed $10M from the IFC and TLcom

The Series B round was co-led by the IFC, a member of the World Bank Group and TLcom partners. As part of the deal, Wale Ayeni, who leads IFCs’ venture capital activities in Africa, and Maurizio Caio, Managing Partner at TLcom will join the board. Digest Africa.

 MTN buys music-streaming business Simfy

The company bought the music-streaming business Simfy, as it tries to play more in the digital ecosystem as an over-the-top (OTT)-type player. Group CEO and president Rob Shuter made the announcement during a speech at AfricaCom 2018 in Cape Town. IT Web.

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