Here’s a brief look at the week’s deals as they have happened across the continent where Yoco, Paga, Bwala Africa, and Tizeti all raised funds.
1. South Africa’s Yoco raises $16M Series B led by Partech
Yoco, a South African based point-of-sale payments solution provider, has announced that it recently closed $16 million in Series B funding. This was confirmed by Forbes. According to Katlego Maphai, CEO for Yoco, the “round represents a vote of confidence in technology ventures operating in this market, servicing the untapped potential of small businesses.” Full story on Digest Africa.
2. Cairo-based FreshSource raises seed funding for its food supply platform
Egyptian agtech startup FreshSource has raised seed funding from HIMangel, the Cairo-based angel fund has told MENAbytes. The size of the deal was not disclosed.
Founded earlier this year by a brother and sister duo, Farah Emara and Omar Emara, FreshSource is an up and coming tech-based B2B platform that aims to serve as a connection between farmers and urban retailers/vendors. Full story on MENAbytes.
3. Nigeria’s Paga closes a $10M Series B(2)
Paga, a Nigeria based mobile payment company, has announced a $10 million Series B2. The announcement was made by Tayo Oviosu, the company’s founder and CEO, to TechCrunch at the Disrupt San Francisco event that he is currently attending.
The company is looking to channel the funding towards global expansion with Ethiopia, Mexico, and the Philippines is on top of the radar. Additionally, they are looking to continue with product development. Full story on Digest Africa.
4. Kenyan logistics firm Bwala Africa raises $230K for local expansion
Bwala Africa Group, a Kenyan last mile logistics platform launched in January in Nairobi has raised Ksh 23,000,000 ($230,000) in debt financing from South African-based bank CFC Stanbic to meet the rising demand for last mile fleet connectivity. The firm has recorded over 6000 deliveries in Nairobi. Full story on Tech Moran.
5. Kampala Angel Investors Network deal day is, finally, set for October
Kampala Angel Investors Network – KAIN – has announced that its deal day is slated for October 4, 2018. The event will see 10 startups pitch to an audience of angel investors in a closed room. These were shortlisted from a pool of 50 applications that were submitted earlier in the year. Full story on Digest Africa.
6. Nigeria’s Tizeti raises $3M to expand its wifi to other African countries
Tizeti, a Nigerian internet provider, has raised $3 million to expand its services. The startup which operates the wifi.ng brand is looking to expand to Ghana after launching a wifi.africa brand. Full story on Digest Africa.
7. Goodwell Investments announces new $23M fund for sub-saharan Africa
The Netherlands based Goodwell Investments has announced the launch of a new fund. “Goodwell Investments has launched a new EUR 20 million (around $23 million) fund,” they wrote.
This fund will go to investments in the “inclusive economy in Sub-Saharan Africa.” According to Goodwell, the aim is to meet the “growing demand for impact investments” from private investors, family offices, and foundations. Full story on Digest Africa.
8. Ventures Platform invests $100,000 into Nigeria’s MDaaS Global
Kola Aina, a partner at Ventures Platform, has announced that they recently invested in MDaaS Global. “I am excited to announce our $100,000 investment in MDaaS,” he wrote.
According to Kola, they arrived at the decision partly because of the team. “At Ventures Platform, we believe bold entrepreneurs will solve some of Africa’s most important problems using technology,” he wrote. Full story on Digest Africa.
9. Cairo-based Aqarmap raises investment for its online real-estate marketplace
Egyptian online real estate marketplace Aqarmap has raised an undisclosed amount of investment from Dubai-based Wamda Capital, Kuwait’s KISP Ventures and Saudi’s Raed Ventures, the startup announced today.
The round was closed a few months ago but has been announced today with some additional funding coming in from a group of family offices that has investments in real estate industry across the region.
The startup had raised its first investment back in 2011 in which Wamda’s Fadi Ghandour had also participated as an angel investor. Full story on MENAbytes.
10. Half of South African startups secure investment – VC4A study.
Half of all SA companies that participate in startup and business support programmes end up securing investment.
This, while the average investment secured by such companies is almost three times higher for those ventures that receive ecosystem support over those that don’t receive support — a new VC4A study has revealed.
That’s it for the week! Don’t forget to subscribe to our newsletter to get The Funding Brief every end of the week in your mail inbox.