Tanzania’s Nala nabs $40 million in double down on its new payments infrastructure
In March 2024, the startup began foraying into the B2B payments sector via launching Rafiki, integrating directly with banks and mobile money providers.
Fundraising
Anchor raises $2.4 million seed to expand product offerings
Anchor, a pan-African BaaS and embedded finance infrastructure provider announced its $2.4M seed raise led by Goat Capital to launch new products, invest in its licensing and compliance infrastructure and evaluate expansion markets.
African startups raised $123.4 million in July 2023
African startups witnessed a sharp 46.5% decrease in funds raised this July compared to July 2022. Cleantech remained dominant, securing 32.8% of the continent's total funds.
Five organisations giving equity-free funding to startups in Nigeria
These five organisations give equity-free funding to startups in Nigeria - Tony Elumelu Foundation, Lagos State Employment Trust Fund, Bill and Melinda Gates Foundation, Ford Foundation, and Bank of Industry
Sabi Am closes $6 million bridge round amidst record growth, expands to Kenya and South Africa
Sabi Am closed a $6 million bridge round amidst record growth, expanded to Kenya last month, and plans to launch in South Africa next year. But why a bridge round?
Tech Word For The Week: Fundraising
Fundraising is the process in which startups raise funds externally. In exchange for funds, investors are offered shares in the startup. Investors could be family, friends, angel investors, venture capitals, etc, depending on the seed round.
VC4A Venture Showcase alumni raise $180 million, applications for the 2021 program now open
VC4A Venture Showcase, an exclusive program of choice for Africa-focused early-stage investors and hand-picked startups looking to raise their Seed and Series A rounds, is back in its 5th edition as part of the annual Africa Early Stage Investor Summit.