As 2018 races towards the end, funding across the continent is not about to slow down. From transport, telecom, logistics to blockchain companies, everyone is raising funding. Check out this week's highlights below.
Sompo Holdings acquired 10% Stake in Bitpesa for $5M
The Japanese insurance group acquired a 10 per cent stake in the Kenya-based digital currency exchange and payments company, for 570 million yen ($5.02 million). The deal is expected to further digitize the insurer’s international remittance service. Bitcoin News.
Sendy is planning second fundraising
The startup, used by around 4,000 businesses and 50,000 individuals, was founded four years ago and has so far raised $3 million. It is however interesting that in the same conversation about raising funding, Malaika Judd, the COO, also talked about exit. Saying that the most realistic exit for them would be an acquisition by another large logistics company, keen to modernise its operations. Reuters.
UNICAF raised a $28M Series B led by Goldman Sachs
The round also saw participation from existing investors, including the UK Government's development finance institution CDC Group, leading higher education fund University Ventures, and EDEX, the founder of the University of Nicosia. Markets Insider.
Nigeria’s SonoCare raised $250,000 from Gray Matters Capital
Though the investment will rise up to US $250,000, it will be released in the form of tranches given based on milestones achieved. SonoCare is looking to use the investment to “scale operations by developing a mobile app”. Digest Africa.
Swvl raised 'tens of millions' in Series B funding round
The round was led by regional venture fund BECO Capital, alongside Africa-based investor DiGAME and global VC fund Silicon Badia. Other investors participating in the round include Raed Ventures, Arzan VC, Sawari Ventures, Oman Technology Fund, Dash Ventures, Esther Dyson, chairman of EDventure Holdings and Emilian Popa. Magnitt.
Telkom Kenya got a $40M loan from European Investment Bank
According to the bank and the company, Telkom will use the funds to improve and expand its network. The telecom company, which is 60 per cent-owned by London-based Helios Investment with the rest held by the government, had 4.1 million users, about 9 per cent of the market, as of July 2018. Reuters.