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E-health startup Vezeeta raises $40m Series D funding round

Egyptian e-health startup Vezeeta has raised a US$40 million Series D funding led by UAE-based Gulf Capital, alongside further investment from existing Riyadh-based investor Saudi Technology Ventures (STV).  The startup plans to use this new funding to roll out new products as well as fund its global expansion plans in 2020.  Launched in 2015 in Cairo, Vezeeta has grown to become a mainstream digital leader of health-tech solutions, enabling patients to search, book and review the best doctors and medical services in just one minute. Currently operating in 50 cities across Egypt, Saudi Arabia, Jordan and Lebanon, the platform generates 4 Million annual appointments, tripling year over year. “Building a...

North African startups to benefit from new $75m investment fund

Modus Capital, a hybrid venture capital firm based out of New York and Cairo, has announced the launch of its first regional fund, which has raised US$75 million to invest in growth-stage companies across the Middle East and North Africa (MENA). The Modus MENA Venture Fund 1 (MMVFI) is targeting a range of industries and structured to invest across asset stages from early to lower-mid market.  Modus Capital said the fund will invest in companies that have strong positive social impact as a by-product, including those with a focus on women and financial inclusion, health, education, and battling unemployment. The first investment from the fund was made in...

Turaco, a Kenya-based micro-insurtech startup, raises $1.2 million seed funding to scale across Africa

Turaco, a Nairobi-based micro-insurtech startup has raised $1.2 million in seed funding to further scale its operations across Africa. Turaco’s round of funding was led by GAN Ventures, Mercy Corps Ventures and Musha Ventures alongside several angel investors. The raise follows USD $40,000 received in grant funding late last year from Villgro Kenya and between $50,000 to $60,000 venture building support facilitated by inclusive fintech accelerator, Catalyst Fund.  In a statement, Turaco Co-founder and CEO, Ted Pantone, said: ‘For this round, we were blessed to be able to choose from a group of investors with different specialties. Read more from source article: https://techmoran.com/2019/12/12/turaco-a-kenya-based-micro-insurtech-startup-raises-1-2-million-seed-funding-to-scale-across-africa/ Click here to subscribe for GetFundedAfrica Newsletters:...

Ugandan Agritech Startup raises $11m In An ‘Unusual’ Funding Round

Grainpulse (formerly Savannah Commodities Company), the supply-chain platform for farmers in Uganda, has raised USD 11 Mn from the International Finance Corporation (IFC) and the Private Sector Window of the Global Agriculture and Food Security Program (GAFSP). The capital injection will help the startup to strengthen its farmer supply chain, increasing food production and economic growth in the country. Grainpulse will use the loan to become a one-stop-shop for farmers, providing them with multiple services, such as fertilizer blending. The company’s fertilizers are optimized to increase the yields of crops grown by Ugandan smallholder farmers. Grainpulse also buys these crops, including coffee, maize, and barley, from local farmers. ...

Ghanaian startup secure $50k funding from Agriculture Africa Accelerator

Ghana’s Complete Farmer and Nigeria’s ReelFruit have secured US$50,000 each in funding after being peer-selected as winners of the Village Capital Agriculture Africa accelerator. Disrupt Africa reported in September nine startups from across the continent had been selected for the programme run by Village Capital, which runs a host of accelerators across Africa using its innovative peer-selection method. Agriculture Africa 2019 was focused on solutions that improve outcomes for small farmers and address food security issues, and run in partnership with Small Foundation and Ceniarth, the latter of which committed US$50,000 to each of the top two peer-selected ventures. The winners, who took home that funding,...

Nigerian fintech, Aella Credit is pivoting after raising $10 million

Nigerian fintech, Aella Credit has raised a new round of funding as it plans to scale its financial solutions. The microlending company announced a $10 million debt funding from Singapore-based HQ Financial Group (HQF). Started in 2015, Aella Credit was founded by Akin Jones and Wale Akanbi. The US-incorporated company was launched to simplify and open up financial services to support financial inclusion in emerging markets. The startup operates in two countries Nigeria and the Philippines. Aella’s main offering is lending. It provides quick loans directly to consumers and uses proprietary information and information from credit bureaus to gauge the creditworthiness of borrowers. It also offers a service...

Meet Afri Ride, SA’s latest ride-sharing app [Q&A]

The latest is Afri Ride, which launched in December and offers travellers the ability to share a ride with drivers, wherever they go on the African continent. Behind the app is Joe Moyo (pictured above), the startup’s managing director. In a statement in December he described the app as simple to use. “All that users have to do is, to upload their travel details such as the start and end location, travel date and the number of empty seats that are available, this then allows travellers heading in the same direction to book their seat.” “The most wasted resources, from a vehicle capacity standpoint, are the empty seats in...

GFA Daily Digest Thur, Feb. 20, 2020

East Africa Kenyan logistics startup Sendy raises $20M round backed by Toyota 2.Kenyan fintech startup Wapi Pay raises capital to scale across Africa Subscribe for GetFundedAfrica Newsletters North Africa Emirates NBD Egypt is first in MENA to use switch technology for card payments Subscribe for GetFundedAfrica Newsletters Southern Africa Meet Afri Ride, SA’s latest ride-sharing app [Q&A] Fintech in Africa grow from $200m currently to $3billion by 2020 Subscribe for GetFundedAfrica Newsletters West Africa Nigerian fintech, Aella Credit is pivoting after raising $10millionGhanian startup secures $50k funding from Village Capital agric accelerator Subscribe for GetFundedAfrica Newsletters ...

Emirates NBD Egypt is first in MENA to use switch technology for card payments

Emirates NBD Egypt will soon launch the Mastercard World Switch Card using switch technology — a first in the Middle East and North Africa. The World Switch Card will provide customers with both credit and debit card functions with the push of a button. The World Switch Card will be available to the bank’s major customers prior to the general public The World Switch Card was announced at a ceremony hosted last November by Emirates NBD Egypt in Cairo. The ceremony was attended by major account holders, official delegates from corporations, and a few distinguished public figures.  Mohamed Zakout, head of retail banking and wealth management, Emirates NBD Egypt, said,...

Kenyan fintech startup Wapi Pay raises capital to scale across Africa

Singapore and Kenyan based Fintech startup ‘Wapi Pay’ has raised seed capital through the accelerator Future Hub making it its first Fintech Investment in Africa. The seed round raised also included Chinese Angel Investors. Future Hub, the first Chinese accelerator in Africa and backed by Transsion Holdings was recently launched to support and fund African entrepreneurs to build scalable and innovative products that will solve several problems in Africa. Future Hub is also backed by Gobi Ventures who is one of the first venture capital firms with a regional presence across China, Hong Kong and ASEAN with over US1.1Billion in assets under management (AUM). Read more...