Startups in Africa received a total of about $81m in funding (only ~57% of the $141.3m received last week), a testament to the global meltdown in the investment space. The funds were spread across 13 deals with 2 of them raising undisclosed amounts. Ghanaian Fintech, Fido raised a $30m Series A round accounting for about 37% of the total amount raised. This and Nigerian Thepeer’s $2.1m seed round put Fintech in first place. Energy is following closely behind South African energy financing company Yellow who raised a $23m debt led by Lion’s Head Global Partners.
Of the 4 startups out of Nigeria that raised funding, 2 of them were backed by Ingressive capital including Healthtracka and Afropolitan. Afropoloitan raised a $2.1m pre-seed to build the world’s first-ever internet country, according to the founder, Eche Emole and Chika Uwazie.
Healthtracka, a health technology company founded by Ifeoluwa Dare-Johnson received a $1.5m from Ingressive Capital and Hustle Fund, both female-led to expand their at-home lab testing platform.
In other news from the ecosystem;
● Egypt-based Disruptech, a fintech-focused VC fund, has secured funding from Madagascar-based AXIAN Group. The deal will enable Disruptech to help more fledgling fintechs to scale and expand beyond their home market.
● Nigerian auto-tech startup Autochek has partnered Kenyan fintech Pezesha to enable SMEs in Kenya to access asset financing. Having expanded to Kenya late last year, Autochek has now partnered Pezesha in a move that will enable SMEs to acquire auto assets for ease of business operations and growth.
● MNT-Halan, Egypt’s leading fintech player, has acquired Talabeyah, a B2B e-commerce platform that offers FMCG supplies directly to small merchants, retailers, and soon, consumers, meeting all their requirements with next-day delivery.
● Nigerian investtech startup GetEquity has expanded to Kenya, with Eve Mumbi as its East African Growth Lead, as it looks to connect more African startups with funding opportunities. ● Applications have opened for the second edition of the Startup Wise Guys accelerator, which offers selected B2B Saas startups access to EUR65,000 (US$71,000) in funding, as well as an intensive five months of mentorship.
● Egyptian fintech startup Lucky has secured final approval from the Central Bank of Egypt (CBE) to launch the “Lucky One” card for all its customers. Launched in collaboration with Mashreq Bank, Meeza and MDP, the card is specifically designed to offer market-leading cashback rewards, as well as numerous additional features including mobile bill payments, withdrawal, and deposits.
● South African ed-tech company Snapplify has launched its Teacha brand in East Africa, making thousands of teaching resources immediately available to teachers.
