africa

DiDi Chuxing expands to South Africa, to take on Bolt and Uber

Chinese ride-hailing company DiDi Chuxing has started operations in South Africa today, according to Reuters. Founded in 2012, the Beijing based company operates in more than 400 cities in China. It c

Nigerian fintech of the unbanked Bankly raises $2M led by Vault

Nigeria remains a largely cash-dominated country. There are more than 100 million adult Nigerians, of which more than half have little or no access to financial services.  Today, Bankly, a Nigerian f

Most African YC-backed startups in today’s batch are focused on fintech

In Africa, Y Combinator is known to be a major backer of most of the continent’s well-known startups. Two of the most talked-about in the last two quarters — Flutterwave and Paystack &#821

Ghana’s Redbird raises $1.5M seed to expand access to rapid medical testing in sub-Saharan Africa

For patients and healthcare professionals to properly track and manage illnesses, especially chronic ones, healthcare needs to be decentralized. It also needs to be more convenient, with a patient’s

Afriex raises $1.2M seed to scale its payments and remittances platform across Africa

Sending money from the U.S. to Nigeria can be a painstaking process. For remittance platforms like Western Union, it will cost a transfer fee and take between one to five business days for money sent

Binance-backed Xend Finance launches DeFi platform for credit unions in Africa

Nigerian startup Xend Finance uses decentralized finance (DeFi) to address currency devaluation. DeFi aims to bridge the gap between decentralized blockchains and financial services. Aronu Ugochukwu a

These undergraduates left university to build Flux, a payments startup now in YC

In the 170 years since Western Union was founded, no company has managed to solve two basic problems that continue to bedevil the remittance business — exorbitant fees and slow deposit times. Fo

Nigeria’s Termii raises $1.4M seed led by Future Africa and Kepple Africa Ventures

Ideally, it is expected of every business to reach its customers effectively. However, that’s not the case, as limiting factors that hinder proper digital communication come into play at differ

Backed by YC, Vendease is building Amazon Prime for restaurants in Africa

For small and mid-sized restaurants in Nigeria and most of Africa, food procurement can be a complex process to manage. The system is such that a business can easily run out of money or have considera

Airtel Africa sells $200M mobile money business stake to TPG’s Rise Fund

In February, London-listed telecom Airtel Africa said it was looking to sell a minority stake in its mobile money business in a bid to raise cash and sell off some assets. The firm seems to have found

Nigeria’s Plentywaka gets backing from Techstars, plans expansion to Canada

Plentywaka, a Nigerian bus-booking platform, today announced that it has been accepted into the Techstars Toronto accelerator program. It will join nine other startups in the class of 2021 and secure

Flutterwave and PayPal collaborate to allow African merchants to accept and make payments

It is nearly impossible for businesses in some African countries to receive money from PayPal. While the payments giant has not given reasons why this is so, speculation hints at factors like insuffic

South Africa’s FlexClub adds $5M to seed round to scale its car subscription marketplace

The traditional process of buying, insuring and financing cars across emerging markets can be challenging, and it defeats the purpose of building an all-around car shopping experience. Today, FlexClub

Ghana’s mPharma partners with Ethiopian conglomerate to enter its eighth market

mPharma, a Ghanaian health tech startup that manages prescription drug inventory for pharmacies and their suppliers, today announced its expansion to Ethiopia. The company was founded by Daniel Shouki

Savannah Fund launches $25M fund to invest in African startups at seed and Series A

Savannah Fund, a pan-African venture capital firm, today announced a $25 million fund as it looks to back more early-stage startups on the continent. Since launching in 2012, Savannah Fund — led by

African payments company Flutterwave raises $170M, now valued at over $1B

The proliferation of fintech services across Africa remains in full swing as investors remain bullish about the opportunities that abound in the sector. Today we behold another unicorn: African paymen

Egypt’s customer engagement platform for F&B brands in MENA, Koinz, raises $4.8M seed

As the restaurant industry across different cities was massively hit by the pandemic-induced lockdowns last year, food aggregator platforms helped by driving online customers to them. Koinz is one suc

How Pariti is connecting founders with capital, resources and talent in emerging markets

According to Startup Genome, Beijing, London, Silicon Valley, Stockholm and Tel Aviv are some of the world’s best startup ecosystems. The data and research organisation uses factors like perform

Fintech startup ClearGlass Analytics closes $3.6M for pension funds transparency platform

Fintech startup ClearGlass Analytics has closed a £2.6 million ($3.6 million) funding round for its platform, which aims to create greater transparency on fees in the long-term savings market, such a

This pan-African freelance platform is the first Zimbabwean startup backed by Techstars

On the 25th of January, Techstars Seattle announced its 12th class, featuring 10 startups from different parts of the world. The accelerator, which has accepted only a handful of African startups, inc
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