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Robo-advisory startup Wahed closes $25M strategic funding round to expand in MENA

Wahed, a robo-advisory service that provides efficient, reliable, and accessible Shari’ah compliant investment platform to investors has raised a $25M strategic funding round led by  Saudi Aramco Entrepreneurship Ventures (Wa’ed Ventures) and BECO Capital. The news comes almost one year after they raised their Bridge round in September 2019. • Wahed was founded in 2015 and is the world’s leading robo-advisory service aimed toward Muslim investors with a Sharia-compliant online investment platform which will give clients the opportunity to seek advice on securities or investment scheme through direct access to an automated online platform (or application).•  In 2019, Wahed’s foray into Malaysia bolstered its client base, and the company now serves over 50,000...

GFA’s Must Attend Web Events For The Week June 6-June 12

Not all the events are free and some will require booking in advance. Please click on the event names to find out more information. All times below are set in South African time, unless indicated. Nic Haralambous StartSomething stream Serial entrepreneur and author Nic Haralambous is hosting a regular stream for startup founders and business owners called StartSomething. This week Haralambous talks to Catherine Lückhoff, CEO of 20fifty. Date: 9 June, 2pmLocation: Crowdcast All about cryptocurrency Throughout the month of June, Bitcoin peer-to-peer marketplace, Paxful, will be hosting a series of free, virtual sessions to teach viewers more about the cryptocurrency sector. The first sessions will deal with the use of bitcoin as a philanthropic tool. Date: 9...

Daily Digest Monday, 8 June 2020

Funding In Africa Moroccan Startup Accelerator Launches Three Programs for African Entrepreneurs Moroccan startup accelerator HSEVEN, the largest startup accelerator in Africa, has launched three incubation and acceleration programs to help African entrepreneurs build high-impact startups. HSEVEN which is Africa’s biggest startup accelerator with capacity to accelerate 200 startups per year has launched three programs for African entrepreneurs Read more Early-Stage Startup Owner? You can Win $10,000 from Aptive Capital’s Fund. Here is How to Apply Aptive Capital, an investment organisation that provides capital, coaching, and community for social impact-driven startups and entrepreneurs, is calling on early-stage businesses in Africa; Nigeria, Ghana, Kenya, South Africa, Egypt, and Ethiopia. Launched in 2020, arising from...

Early-Stage Startup Owner? You can Win $10,000 from Aptive Capital’s Fund. Here is How to Apply

Aptive Capital, an investment organisation that provides capital, coaching, and community for social impact-driven startups and entrepreneurs, is calling on early-stage businesses in Africa; Nigeria, Ghana, Kenya, South Africa, Egypt, and Ethiopia. Launched in 2020, arising from the funding gap as a result of the pandemic, Aptive Capital is a US-based $1m portfolio fund committed to supporting entrepreneurs and innovators dedicated to social impact within their community. The fund is given to support, coach, and increase the social impact of early-stage entrepreneurs and innovators who are changing the norm and creating social impact within their society. Aptive looks to invest in, and support the acceleration of 100 African startups...

Alpha Tau Medical Closes $26M Funding Round

Alpha Tau Medical, a Tel Aviv, Israel-based developer of alpha-radiation cancer therapy Alpha DaRT, closed a Series B equity financing of $26m. Investors in the round included a mix of existing investors from previous rounds, such as Shavit Capital, Medison Ventures, and OurCrowd. The company intends to use the funds to continue to demonstrate support for the clinical development of Alpha DaRT, as well as a number of new private and family office investors primarily from Israel and North America. Next Article: ProfitShare Partners Launches A $5.9 Million Fund For South African SMEs Founded in 2016 and led by CEO Uzi Sofer, Alpha Tau Medical is an Israeli medical...

Webinar: How can robotics startups respond to the urgent need for automation on the farm?

Another week, another part of the agrifood supply chain that's struggling from the impact of the Covid-19 pandemic. Last month, the challenge facing the meat industry was top of the headlines, as large processing plants were forced to shut after numerous workers contracted the virus. This month, we're seeing whole workforces in the produce industry come down with the virus, threatening the summer harvest of fruits and vegetables. Other parts of the world are experiencing similar labor shortages; the #PickforBritain campaign in the UK is a case in point. But labor shortages are nothing new for agriculture -- the West Coast of the US has been...

ProfitShare Partners Launches A $5.9 Million Fund For South African SMEs

ProfitShare Partners, the South African fintech business that provides disruptive short-term capital solutions (from R250,000 — R5m) and transactional support to SMEs who have no access to funding, in partnership with award-winning local community radio station Hot 91.9FM, and the all-new ‘getlion’ mobile app have launched an exciting year-long initiative designed to get small businesses working and creating jobs. The all-new ‘getlion’ mobile app is designed to support SMEs in managing and growing their businesses, and ProfitShare Partners, the disruptive Fintech provider, will invest R100m ($5.9m) in capital to support SMEs to deliver on their contracts this year. The sweetener is a prize of R1m for the small business that...

Moroccan Startup Accelerator Launches Three Programs for African Entrepreneurs

Moroccan startup accelerator HSEVEN, the largest startup accelerator in Africa, has launched three incubation and acceleration programs to help African entrepreneurs build high-impact startups. HSEVEN which is Africa’s biggest startup accelerator with capacity to accelerate 200 startups per year has launched three programs for African entrepreneurs. The programs “Rise-Up,” “Re-Start,” and “Disrupt” aim to accelerate the transformation of the African economy amid the fourth technological and industrial revolution and the COVID-19 pandemic. Amine Al-Hazzaz, founder and CEO of HSEVEN said that “it is time for entrepreneurs and startups of Morocco and Africa to transform our economies by focusing on new homegrown solutions in key impactful sectors: SharedEconomy, MedTech, EdTech, AgriTech, GreenTech,...

Daily Digest Friday, 5 June 2020

Funding In Southern Africa South Africa: Spear Capital invests R100mln in RunwaySale In South Africa, the private equity firm Spear Capital announced an investment of R100 million (about $5.7 million) in the fashion e-tailer RunwaySale. The investment conditions were not disclosed. See more SA cashless payment platform Sticitt lands R3m from new VC Cape Town based cashless payment platform Sticitt has landed a R3-million investment from a new SA venture capital (VC) company, Crucis VC. Sticitt was founded in 2018 by Mitch Dart, Dennis Wevell and Theo Kitshoff (pictured above, from left to right, respectively) and today has nine employees. See more Funding In West Africa Nigeria: Sanlam Emerging Markets acquires full stake in...

South Africa: Spear Capital invests R100mln in RunwaySale

In South Africa, the private equity firm Spear Capital announced an investment of R100 million (about $5.7 million) in the fashion e-tailer RunwaySale. The investment conditions were not disclosed. The financing will support the expansion of the company, founded in 2012 by Karl and Elmien Hammerschmidt, on a local fashion market that is expected to generate up to $1 billion in revenues this year according to the German stats portal Statista. RunwaySale, which offers more than 300 fashion brands, intends to continue its development primarily in the local market and probably later in the sub-region. On the African continent, Spear Capital is present in the consumer goods, retail and health...

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