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Nigerian Cryptocurrency Startup Bitfxt Technology Raises $15M

Bitfxt, a Nigerian cryptocurrency startup, has raised $15M Series A funding from a UK syndicate of Hedge Funds and UK company, Payitup Clearinghouse Ltd (UK). In a press release to African media platforms, Franklin Peters – CEO, Bitfxt expressed excitement and the possible benefit his startup could bring to the African ecosystem. Bitfxt currently runs a hybrid exchange, cryptocurrency-powered ATM cards, and a global payment platform called Boundless Pay.  With the latest funding, Bitfxt intends to expand into new markets and improve existing products. According to the latest PR, users of Boundless Pay will have options of settling in the US dollar or Nigerian Naira through our portal and...

South African event ticketing platform Howler secures growth funding

Event ticketing and cashless platform Howler has secured its second round of growth capital investment from three partner companies: Techstars, Platform Investment Partners Growth and Platform45. The ticketing and cashless technology platform for medium to large-scale events has to date processed over R1.5 billion worth of transactions and millions of tickets across thousands of events. The latest phase of funding, for an undisclosed amount, has been raised to further develop Howler’s end-to-end event technology stack, grow market share in Sub-Saharan Africa, and expand into Europe and Asia Pacific countries. Shai Evian, co-founder and CEO of Howler, says: “Being our second round of investment, this is really significant for Howler for...

SA insurtech startup JaSure raises funding from Santam

Short-term insurer Santam has invested an undisclosed amount in JaSure — a Johannesburg based insurtech which has done away with the role of CEO. JaSure allows users to get insured on the go via an app it launched in the middle of last year. Users can insure tech (including cellphones and laptops), bicycles and other sports gear, photography equipment, eyewear, camping gear and musical instruments for accidental damage, loss and theft worldwide, with the tap of a button. The startup claims that protecting an item with JaSure takes just two minutes. Users submit claims without needing to fill out any paperwork, by using a video feature instead, with the claim...

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...

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