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VC4A calls on scale-ups to pitch for up to $10m at 2020 Venture Showcase Series A

African startup funding platform VC4A is calling for African scale-ups looking to raise between $500 000 and $10-million to sign up to its Venture Showcase – Series A virtual event. The showcase will be hosted in October by AWS Activate and VC4A, as part of a virtual gathering of Africa-focused early-stage investors. The showcase which has been hosted since 2017 by VC4A, as part of the annual Africa Early Stage Investor Summit, has resulted in a number of Series A deals totalling over $100-million. Applications for VC4A’s Venture Showcase – Series A close on 14 August VC4A works closely with the African investment community to refer candidates to the showcase, involving investors in...

MoneyFellows raises $4 million in Series A round from Partech and Sawari Ventures

Egyptian fintech platform MoneyFellows has secured $4 million in Series A investment from venture capital firms Partech and Sawari Ventures, as it works towards helping millions of new users reach their financial goals. MoneyFellows is a financial enabler that digitizes money circles or ROSCA (known as gam’eyas in the Arab world, chit funds in India, committee in Pakistan, Tandas in Mexico, and tontine in West and Central Africa). This allows users to more effectively manage and fulfill their financial needs. The company is a first-mover in supporting the financial inclusion and digital transformation mandate of the Egyptian government and Central Bank of Egypt.  Currently, MoneyFellows has more than...

Daily Digest, Monday 22 June 2020

Funding In Africa A New $113M Meta Change Capital Fund Launched For African Blockchain Startups African blockchain startups may soon be able to access a new fund set up specifically to invest in them. Known as Meta Change Capital and established by Nikola Stojanow, co-founder of. Read More 20 African Startups Selected For Google For Startups Accelerator Africa Class 5 20 African startups have been selected for Google for Startups Accelerator Africa Class 5. The selected pool of startups for this new class of Google for Startups Accelerator Africa 2020 are from Ethiopia, Ghana, Kenya, Nigeria, South Africa, Tunisia & Zimbabwe. Read more The Coca-Cola Foundation Commits $ 17 Million Across...

VestedWorld Invests In African Early-stage Startups Vanu and GET IT

VestedWorld, the Chicago-based impact investor, has made two investments in Vanu, an Africa-focused internet software startup, and in Rwanda-based GET IT, a food distributor.  Vanu manufactures equipment and software to help mobile operators build and operate cellular networks in rural areas at an affordable price. The company’s objective is to allow 1.2 billion unconnected people worldwide to access Internet users.  The current roadblock is expensive: the average cell tower costs $ 100,000 to $ 250,000 to build and $ 30,000 to $ 40,000 a year to operate, says Lavanya Anand of VestedWorld. “This dynamic makes it unprofitable to build traditional cellular towers in areas that serve less than 20,000 mobile...

The Coca-Cola Foundation Commits $ 17 Million Across Africa for Covid-19

Global beverage giant Coca-Cola through its arms, Coca-Cola Systems and Coca-Cola Foundation plans to help those most vulnerable as part of efforts towards the prevention of the spread of the virus and contributing to the recovery of local economies across Africa. In partnership with local NGOs, Coca-Cola will deploy a range of resources, including capabilities, funds and products to support governments, communities and local economies in their urgent efforts to contain the spread and impact of the Coronavirus since its outbreak on the continent. The Coca-Cola System is committing US$13million to support the continent through the various phases of the COVID-19 pandemic. In addition, The Coca-Cola Foundation (TCCF) has granted just under $4 million...

20 AFRICAN STARTUPS SELECTED FOR GOOGLE FOR STARTUPS ACCELERATOR AFRICA CLASS 5

20 African startups have been selected for Google for Startups Accelerator Africa Class 5. The selected pool of startups for this new class of Google for Startups Accelerator Africa 2020 are from Ethiopia, Ghana, Kenya, Nigeria, South Africa, Tunisia & Zimbabwe. The startups cut across an array of industries like logistics, transportation, education, agriculture, e-commerce, media, health and professional services. The announcement was made in a blog post by  Onajite Emerhor, Head of Google for Startups Accelerator Africa. Download GetFundedAfrica’s e-Guide to fundraising for start-up’s Here He wrote: “Adapting to this new normal, Google for Startups Accelerator ( formerly known as Launchpad) Africa Class 5 will be done remotely. “This year, we will...

Egypt’s Edtech Startup OTO Courses Raises More Than $100k Funding For Its English Learning Platform

Good news for Egypt’s edtech OTO Courses which has raised a six-figure (USD) investment in the form of a bridge round from AUC Angels & Changelabs. The exact size of this deal was however not disclosed. The details With the new investment, OTO plans to further develop its platform and win a bigger market share as the traditional educational centers in Egypt that teach the English language remain closed due to the pandemic.The startup had previously raised a seed round from HIMangel and EdVentures in late 2018. Download GetFundedAfrica’s e-Guide to fundraising for start-up’s Here A Look At What OTO Courses Does Founded in 2015 by Ahmed El Fadaly, Ahmed Badr...

A New $113M Meta Change Capital Fund Launched For African Blockchain Startups

African blockchain startups may soon be able to access a new fund set up specifically to invest in them. Known as Meta Change Capital and established by Nikola Stojanow, co-founder of æternity blockchain and the creator of AE Ventures investment firm, the new venture capital fund aims to raise €100 million ($113 million) to invest in blockchain startups in emerging markets. Here Is What You Need To Know Domiciled in the Cayman Islands, the fund is regulated by the Financial Conduct Authority in the U.K. Meta Change Capital is intensely searching for investors for the fund with the fund’s first round expected to close by the fourth quarter of 2020.Meta Change...

Daily Digest, Friday 19 June 2020

Funding In West Africa IFC invests $100 million in Zenith Bank to support SMEs amid COVID-19 International Finance Corporation (IFC), a member of the World Bank Group, today announced an investment of up to $100 million in Nigeria’s Zenith Bank Plc to help it increase support to clients and companies whose cash flows have been disrupted by challenges caused by the COVID-19 pandemic. Read more Nigerian e-health startup First Medtrade launches online medical market Nigerian e-health tech startup First Medtrade has launched its online medical market to supply essential medical consumables to hospitals and other health facilities across Nigeria. Read more Funding In East Africa How Tanzanian agri-tech startup East...

IFC invests $100 million in Zenith Bank to support SMEs amid COVID-19

International Finance Corporation (IFC), a member of the World Bank Group, today announced an investment of up to $100 million in Nigeria’s Zenith Bank Plc to help it increase support to clients and companies whose cash flows have been disrupted by challenges caused by the COVID-19 pandemic. IFC’s loan to Zenith Bank is its first investment in Africa through its COVID-19 fast-track financing support package. The funding will help Zenith, an existing IFC client and Africa’s sixth-largest bank, to overcome challenges resulting from ongoing limited access to foreign currency, working capital, and trade funding. Zenith will support dozens of businesses in Nigeria’s health, pharmaceuticals, food, and trading...

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