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Delivery Hero acquires InstaShop, MENA’s online grocery marketplace for $270m

Delivery Hero has acquired InstaShop, an online grocery marketplace in the Middle East and North Africa for $270 million, on a valuation of USD 360 million. The acquisition of InstaShop marks the next step in Delivery Hero’s quest to pioneer q-commerce – the next generation of e-commerce and will help it complement its position in grocery delivery. According to Niklas Östberg, CEO and Co-Founder of Delivery Hero, “I’m delighted to welcome InstaShop to the Delivery Hero family. The InstaShop team embodies our values and brings a strong vision and capabilities.” InstaShop was launched in June 2015 and is based in Dubai. The company generates approximately USD 300 million GMV on...

Daily Digest Friday, 4 September 2020

Funding In Southern Africa Cape Town-Based CredoLab Raises $7m To Expand Across Africa With the funding, the firm aims to consolidate its leadership in Southeast Asia and expand its market reach in Africa, Latin America, Asia, and key countries across the EU. Read more Savings App Esusu Raises $2.3M From Acumen Fund & LinkedIn’s Jeff Weiner For US Expansion The $2.3 million in seed extension bringing total capital raised to $4 million and Esusu will use it to hire exceptional talent to fuel its expansion to one million rental units in the United States. Read more Nigeria’s Yellow Card Raises Over $1.5M From Andreessen Horowitz To Launch Its Crypto Exchange...

How Women-led Agribusinesses Are Boosting Nutrition In Africa

A small but growing number of women are heading up agribusinesses in Africa, some of which are producing innovative products to combat malnutrition. Credit: Jeff Haskins/IPS BULAWAYO, Zimbabwe, Aug 24 2020 (IPS) - Oluwaseun Sangoleye’s son developed rickets after rejecting baby formula. So she started a business to make natural baby cereal from locally-sourced ingredients in Nigeria. “My personal experience opened me up to the dearth of nutrient dense, affordable meal solutions for infants and young children,” Sangoleye told IPS. Baby Grubz products are targeted at low and middle-income women with children aged six months to three years. Sangoleye is one of a small but growing number of women who are...

Afrofuturistic AKON CITY Underway In Senegal

Business Development in Africa Akon City, the futuristic pan-African city named after and envisioned by Senegalese-American Hip hop R&B recording artist Akon, is officially underway. Located in Mbodiene, Senegal some 100 kilometres from the capital, the grammy-nominated star intends for this project to provide much-needed jobs to the Senegalese and serve as home to people of African ancestry in the Diaspora who feel out of place due to racial injustice they face outside the Motherland. He explained, "I wanted to build a city with or a project like this, that will give them (Black Americans) the motivation that there is a home back home and it's something...

Savings app Esusu raises $2.3M from Acumen Fund & LinkedIn’s Jeff Weiner for US expansion

Esusu, a fintech startup dismantling barriers to housing, has closed $2.3 million from Acumen Fund, Concrete Rose Capital, Global Good Fund, Impact America Fund, Next Play Ventures, and Zeal Capital Partners for US expansion. The $2.3 million in seed extension bringing total capital raised to $4 million and Esusu will use it to hire exceptional talent to fuel its expansion to one million rental units in the United States. “We are experiencing the greatest public health crisis in a century, the worst economic collapse since the Great Depression and accelerating income inequality. Concomitantly, we are dealing with systemic racism that stifles the promise of America. “At Esusu we have a unique opportunity to challenge...

Nigeria’s Yellow Card Raises Over $1.5M From Andreessen Horowitz To Launch Its Crypto Exchange In Kenya & Cameroon

Yellow Card, a Nigerian-based crypto exchange, has raised over $1.5 million to further expand across Africa and solidify its position as the go-to crypto exchange in Africa. Yellow Card’s CEO Chris Maurice said the 1.5 million was raised from Andreessen Horowitz, Polychain, Celo, and among others. The firm will use the funds to grow its operations in Nigeria, South Africa and Botswana where it launched a few months ago. The firm will also expand availability to users in Kenya and Cameroon from Sept. 1. Founded in 2016 by Chris Maurice and Justin Poiroux as Bitcoin gift card, Yellow Card pivoted to remittance after the founders met a man at a Wells...

Cape Town-Based CredoLab Raises $7m To Expand Across Africa

CredoLab, a Cape Town-based developer of bank-grade digital credit scorecards based on smartphone metadata has secured USD 7 million in its Series-A round funding for expansion. CredoLab, with operations in Kenya, Nigeria, and South Africa, says the round was led by by GBG and participation from Walden International, an existing investor, and Access VC, among other new investors. With the funding, the firm aims to consolidate its leadership in Southeast Asia and expand its market reach in Africa, Latin America, Asia, and key countries across the EU. In a statement, Peter Barcak, CEO and founder of CredoLab, “Our offering is positioned to support economic recovery in the markets we operate...

Daily Digest Thursday, 3 September 2020

Call For Applications Ericsson Innovation Awards 2020 looking for innovators supporting climate change Ericsson Innovation Awards 2020 are themed “Reclaim the future,” which centers on addressing current and future climate challenges and focuses primarily on how information and communications technology (ICT) can provide radical climate change mitigation for consumers and industries alike. Read more GetFundedAfrica Has Opened Up Funding Application Portal GetFundedAfrica Ventures, a social venture on a mission to uplift people and economies in Africa through entrepreneurship, is pleased to announce that it has started accepting applications for equity capital funding from startups across Africa. Start-ups in pre-seed and seed stages of fundraising can apply for funding...

Kenya’s WomenWork Raises Funding From Mastercard Foundation To Offer Loans To Women-Owned SMEs

WomenWork in partnership with the Mastercard Foundation, has launched Rebuild, a program that offers emergency loans and business expertise to women entrepreneurs in Kenya. The Rebuild Program includes an emergency interest-free short-term working capital loan for businesses, expert-driven business training and support from an engaging peer community of other women entrepreneurs – all delivered online. According to Asha Mweru, Co-founder WomenWork Network, “The Rebuild Program is an exciting and significant milestone in the history of our organization. It provides us the opportunity to offer the much-needed support to our community of women entrepreneurs who are facing significant challenges arising from the effects of COVID-19 and have either closed...

Egypt ’s Hydro Farms Raises New Funds, Launches New Products

Egypt’s pioneer hydroponic farming company, Hydro Farms, has secured new funds from a group of angel investors from Egypt and the Gulf Region, with a plan by the company to further expand to additional markets.   “We started this 8 years ago, now is the time to take it to the next level!” says Adel El Shentenawy, founder of Hydro Farms; “We are an exceptional start-up with a combined 8 years of experience and an incredible amount of passion and hard work in the business has helped us to come out of this and thrive in the most difficult and difficult times for a company or...

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