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Funding

Daily Digest Tuesday, 22 September 2020

Funding In North Africa Foodics Expands To Egypt And Hopes To Become Micro-Loan Lender Saudi Arabia-based food and beverages (F&B) retail and restaurant management platform Foodics, has expanded to Egypt. The expansion comes after the cloud-based company closed its pre-Series B investment round in 2019, raising $4 million. Read More Kashier Payments Raises Seed funding To Facilitate Electronic Payments For Egyptian Businesses Egyptian startup Kashier Payments, a payments platform built to empower and simplify your business, has successfully raised a Seed investment round of funding, led by Glint Ventures, with participation from a group of strategic investors. Read More Funding In Emerging Markets ISSF Invests In Endeavor Catalyst’s Third Fund Endeavor Catalyst, the investment vehicle of global...

AfDB Announces AgriPitch 2020 Competition For Agricultural Project Leaders In Africa

The African Development Bank’s Youth Agripreneur AgriPitch Competition and DealRoom connects expansion-ready, youth-led African businesses with global investors (debt, equity and/or grant). The DealRoom focuses on youth-led agribusinesses under the themes of nutrition and gender inclusivity. The goal of the Competition and DealRoom is to promote innovation and entrepreneurship in agriculture among youth in Africa and to generate jobs, create wealth and improve livelihoods through inclusive growth across the continent. AfDB’s AgriPitch Competition 2020 for Youth Agripreneurs (US$120,000) African companies that meet the criteria below are encouraged to submit their deal information for review by the Bank’s and Asoko Insight’s data teams. Qualified businesses will be promoted through the...

Kashier Payments Raises Seed funding To Facilitate Electronic Payments For Egyptian Businesses

Egyptian startup Kashier Payments, a payments platform built to empower and simplify your business, has successfully raised a Seed investment round of funding, led by Glint Ventures, with participation from a group of strategic investors. Founded in 2017 by Khaled Raslan, Mohamed Hossam, and Mohamed Mohsen, Kashier launched its online payment acceptance services in 2019 obtaining the required approvals as a Payment Facilitator and Payment Service Provider and entered into a strategic partnership agreement with two of Egypt’s leading acquiring banks. Read Also: Report Reveals Record Investment In Local Venture Capital Landscape Kashier empowers businesses with a unified payments platform by providing them with simple yet efficient tools to make it...

Foodics Expands To Egypt And Hopes To Become Micro-Loan Lender

Saudi Arabia-based food and beverages (F&B) retail and restaurant management platform Foodics, has expanded to Egypt. The expansion comes after the cloud-based company closed its pre-Series B investment round in 2019, raising $4 million.  Founded in 2014 by Ahmad Al-Zaini and Mosab Al-Othmani, Foodics offers a point of sale (POS) solution and management platform which helps restaurants and cloud kitchens owners effectively manage their business.  The company has so far serviced over 5000 customers and processed over a billion orders through its Software-as-a-Service (SaaS) platform, totaling over $2 billion gross merchandise volume (GMV) transactions in 2019 and catering to more than 10,000 F&B outlets. “With an F&B Market estimated...

Jordan’s ISSF Invests In Endeavor Catalyst’s Third Fund

Endeavor Catalyst, the investment vehicle of global non-profit organization Endeavor, has closed its 3rd Fund "Endeavor Catalyst III", with $134 million, of which $2 million is from Jordan’s Innovative Startups and SMEs Fund (ISSF), and $1.7 million from other Jordanian Limited Partners ("LPs"), according to a statement by its Managing Director, Allen Taylor. The rest of the amount was secured from a galaxy of international investors. Having invested earlier in 4 Jordanian companies: Kharabeesh, Altibbi, Mawdoo3 and Jamalon, Endeavor Catalyst is an innovative, rules-based co-investment fund through which Endeavor invests into its portfolio companies led by high-impact entrepreneurs around the world. Read Also: Anzisha Prize Announces Top 20...

Daily Digest Monday, 21 September 2020

Funding In Southern Africa Naspers Foundry Invests In The Food Service Industry, With Stake In Food Supply Network Naspers Foundry, the venture capital subsidiary of the South African group Naspers, has concluded its third deal with an undisclosed investment in Food Supply Network (FSN), a food systems integrator. Read more Funding In North Africa Egyptian EsportsTeam Anubis Gaming Closes $300,000 Seed Cairo-based esports team Anubis Gaming has closed $300,000 seed after raising $100,000 in fresh funds last month. The investment takes total funding raised so far by Anubis to $450,000. The latest money came from a regional ecommerce group. Read more Appointments And Acquisitions Platform Capital Invests in Big Cabal Media,...

Report Reveals Record Investment In Local Venture Capital Landscape

 The latest report by The Southern African Venture Capital and Private Equity Association (SAVCA), titled the  SAVCA 2020 Venture Capital Industry Survey has revealed that the local venture capital landscape experienced record investment and exit activity in 2019.  According to Investopedia, an exit refers to when an investor, trader, venture capitalist, or business owner decides to liquidate a position financially when their financial goals or aims have been met or exceeded.  Although local venture capital investors may have experienced a significant slowdown in deal activity due to the impacts of Covid-19, the report indicates that a total of 38 exits took place in 2019.  According to SAVCA, this number is...

Trace Group Acquires SA production Company Okuhle Media

South African audiovisual production company Okuhle Media has been acquired by Trace Group. This acquisition sees Trace take a majority stake in one of South Africa’s leading content production companies. Okuhle Media is a Cape Town-based media production house that was is established in 2013. The company produces, develops and licences content for commercial and public television stations. Okuhle Media also develops content for streaming services in South Africa, Europe and the rest of the world. Okuhle Media’s content has won and been put up for awards like the South African Film and Television Awards’ Golden Horn Award. Trace Group French-based company which has a stake in both video and audio media...

Platform Capital Invests In Big Cabal Media, Appoints Dr. Akindele To Its Board

Platform Capital (Platform), a leading growth markets investor, has announced its investment in Big Cabal Media (BCM), a leading digital media publisher in Africa, operating out of Nigeria.  BCM is building Africa’s media brands of the future, creating high-value publications, original content, and technology products for African audiences on and off the continent. Big Cabal currently publishes TechCabal and Zikoko, while working with brands through its Cabal Creative Studio. TechCabal provides insight into startups, innovation, and technology in Africa through its reporting, data, and events. It serves a global audience of business professionals, investors, entrepreneurs, and those curious about the impact of technology in Africa’s evolution. Zikoko creates high-engagement content around youth culture in and...

Egyptian EsportsTeam Anubis Gaming Closes $300,000 Seed

Cairo-based esports team Anubis Gaming has closed $300,000 seed after raising $100,000 in fresh funds last month, it told MENAbytes last week. The investment takes total funding raised so far by Anubis to $450,000. The latest money came from a regional ecommerce group. Founded in 2015 by Youssef Mohsen, Anubis is an esports team that participates in competitive video game tournaments (for different game titles) at the regional and international levels. The startup told MENAbytes that they’re current regional champions of Crossfire and are in the playoffs for the world championship, which it said, makes it the first team in the history of Africa to reach such a high placement. Anubis founder Youssef...

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