This week has witnessed a multitude of funding activity. From Naspers Foundry to AfricInvest. Funds are being launched and more startups getting funding. That and more in this week's funding brief.
PayPal invested in Tala, a lender in Kenya and Tanzania
According to Reuters, PayPal made a strategic investment in Tala, a financial technology startup that lends to underserved consumers in emerging markets. Both companies declined to disclose the amount but Tala said it will use the funding to further develop its product and broaden its reach. Digest Africa.
Victor Asemota to lead VC firm Alta Global Ventures’s business in Africa
Alta Global Ventures is entering into the African continent through Victor Asemota as the Africa Partner. Digest Africa.
GreenTec Capital has invested in Namibia’s PEBL
GreenTec announced that they made an investment into Namibia-based PEBL, a “producer of high-tech central processing units (CPUs) to support Africa’s growing IT needs.” Digest Africa.
The IFC is considering a $3M equity investment into Nigeria’s Kobo360
This is according to the document we have seen on the IFC’s website summarizing the investment details. However, the arrangements are in the early stage. Digest Africa.
Singtel invested US$250 million into Airtel Africa for 39.5% stake
In a press release on Wednesday (Oct 24), Singtel said it currently holds a 39.5 percent effective stake in Airtel. With a customer base of 91 million and operations in 14 countries, Airtel Africa also has 11.8 million subscribers to its mobile wallet service. Digest Africa.
SA crowdfunding platform Uprise.Africa secures funding
South African equity crowdfunding platform, Uprise.Africa, has raised an undisclosed investment from Silicon Valley-based VC firm Nexxus Ventures. Uprise.Africa said while the investment secured from Nexxus Ventures will not be disclosed, it is based on a ZAR60 million (US$4.2 million) valuation of the company. Disrupt Africa.
Naspers commits to invest over $300M into South African tech startups
The initiative – called Naspers Foundry – was announced at the inaugural South Africa Investment Conference 2018 in Johannesburg on Friday. Today, Naspers is one of the largest technology investors in the world, with operations and investments in more than 120 countries and markets. Digest Africa.
EIB to contribute €15M in equity towards AfricInvest’s €120M Growth Fund
In May, AfricInvest – a Tunisia-based PE fund – revealed its intentions to launch a startup focused fund. Dubbed AfricInvest Venture Capital Fund, the size of the proposed fund is €120 million. Digest Africa.
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