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Start-ups

Kashier Payments Raises Seed funding To Facilitate Electronic Payments For Egyptian Businesses

Egyptian startup Kashier Payments, a payments platform built to empower and simplify your business, has successfully raised a Seed investment round of funding, led by Glint Ventures, with participation from a group of strategic investors. Founded in 2017 by Khaled Raslan, Mohamed Hossam, and Mohamed Mohsen, Kashier launched its online payment acceptance services in 2019 obtaining the required approvals as a Payment Facilitator and Payment Service Provider and entered into a strategic partnership agreement with two of Egypt’s leading acquiring banks. Read Also: Report Reveals Record Investment In Local Venture Capital Landscape Kashier empowers businesses with a unified payments platform by providing them with simple yet efficient tools to make it...

Foodics Expands To Egypt And Hopes To Become Micro-Loan Lender

Saudi Arabia-based food and beverages (F&B) retail and restaurant management platform Foodics, has expanded to Egypt. The expansion comes after the cloud-based company closed its pre-Series B investment round in 2019, raising $4 million.  Founded in 2014 by Ahmad Al-Zaini and Mosab Al-Othmani, Foodics offers a point of sale (POS) solution and management platform which helps restaurants and cloud kitchens owners effectively manage their business.  The company has so far serviced over 5000 customers and processed over a billion orders through its Software-as-a-Service (SaaS) platform, totaling over $2 billion gross merchandise volume (GMV) transactions in 2019 and catering to more than 10,000 F&B outlets. “With an F&B Market estimated...

Applications For V&A Waterfront Kitchen Incubator Opens

The V&A Waterfront’s, Makers Landing, a development created by the V&A Waterfront in partnership with the National Treasury’s Job Fund has opened applications for its Food Lab incubation programme.  Applications close on 23 October 2020  Westleigh Wilkinson, Makers Landing Project Lead provides insight into the aims of the programme and Makers Landing.  “We have developed a value-driven approach for Makers Landing. Our plan is to immerse our entrepreneurs in an inclusive and innovative space, where they will be nurtured by food industry mentors who are influential and successful in their own right. By matching natural creativity and passion for food with knowledge and new skills gained, our entrepreneurs will...

Jordan’s ISSF Invests In Endeavor Catalyst’s Third Fund

Endeavor Catalyst, the investment vehicle of global non-profit organization Endeavor, has closed its 3rd Fund "Endeavor Catalyst III", with $134 million, of which $2 million is from Jordan’s Innovative Startups and SMEs Fund (ISSF), and $1.7 million from other Jordanian Limited Partners ("LPs"), according to a statement by its Managing Director, Allen Taylor. The rest of the amount was secured from a galaxy of international investors. Having invested earlier in 4 Jordanian companies: Kharabeesh, Altibbi, Mawdoo3 and Jamalon, Endeavor Catalyst is an innovative, rules-based co-investment fund through which Endeavor invests into its portfolio companies led by high-impact entrepreneurs around the world. Read Also: Anzisha Prize Announces Top 20...

Trace Group Acquires SA production Company Okuhle Media

South African audiovisual production company Okuhle Media has been acquired by Trace Group. This acquisition sees Trace take a majority stake in one of South Africa’s leading content production companies. Okuhle Media is a Cape Town-based media production house that was is established in 2013. The company produces, develops and licences content for commercial and public television stations. Okuhle Media also develops content for streaming services in South Africa, Europe and the rest of the world. Okuhle Media’s content has won and been put up for awards like the South African Film and Television Awards’ Golden Horn Award. Trace Group French-based company which has a stake in both video and audio media...

Platform Capital Invests In Big Cabal Media, Appoints Dr. Akindele To Its Board

Platform Capital (Platform), a leading growth markets investor, has announced its investment in Big Cabal Media (BCM), a leading digital media publisher in Africa, operating out of Nigeria.  BCM is building Africa’s media brands of the future, creating high-value publications, original content, and technology products for African audiences on and off the continent. Big Cabal currently publishes TechCabal and Zikoko, while working with brands through its Cabal Creative Studio. TechCabal provides insight into startups, innovation, and technology in Africa through its reporting, data, and events. It serves a global audience of business professionals, investors, entrepreneurs, and those curious about the impact of technology in Africa’s evolution. Zikoko creates high-engagement content around youth culture in and...

Egyptian EsportsTeam Anubis Gaming Closes $300,000 Seed

Cairo-based esports team Anubis Gaming has closed $300,000 seed after raising $100,000 in fresh funds last month, it told MENAbytes last week. The investment takes total funding raised so far by Anubis to $450,000. The latest money came from a regional ecommerce group. Founded in 2015 by Youssef Mohsen, Anubis is an esports team that participates in competitive video game tournaments (for different game titles) at the regional and international levels. The startup told MENAbytes that they’re current regional champions of Crossfire and are in the playoffs for the world championship, which it said, makes it the first team in the history of Africa to reach such a high placement. Anubis founder Youssef...

Naspers Foundry Invests In The Food Service Industry, With Stake In Food Supply Network

Naspers Foundry, the venture capital subsidiary of the South African group Naspers, has concluded its third deal with an undisclosed investment in Food Supply Network (FSN), a food systems integrator. The subsidiary was launched in October 2018 with a fund of 1.4 billion rand ($85.2 million) and has already invested in two projects for a total of 130 million rand. “We’re extremely excited about our partnership with Naspers Foundry. Naspers brings unparalleled global experience, marketplace expertise, and extensive networks to the table. Their capabilities complement our own, as well as those of our existing partners at Venturen, who also participated in this round. Naspers shares our...

Anzisha Prize Announces Top 20 Very Young African Entrepreneurs As Part Of 10th Year Celebration

The Anzisha Prize has revealed its top 20 finalists for 2020. Winners will be announced at this year’s Anzisha Prize Conference on the 27th of October, where the programme will be celebrating 10 years of supporting very young entrepreneurs. Meet the new cohort of very young entrepreneurs whose businesses are paving a new entrepreneurial landscape in Africa This year’s application season saw a record number of 1 200 applicants vying for a chance to join the Anzisha Prize fellowship. From these applications, 20 businesses emerged that were forty-five percent female-owned and represented sectors such as agriculture, manufacturing, and education. Young entrepreneurs from Morocco, South Africa, and Tanzania displayed...

Cameroonian Startup, Freshbag, Secures Investment From Greentec Capital

Freshbag, a Cameroonian agri-tech startup, has secured an undisclosed investment from GreenTec Capital Partners, a German investor into African start-ups and SMEs. Freshbag is an innovative digital Cameroon platform that connects farmers and vendors to ensure a fair and reliable food supply network. The company works hand in hand with agricultural cooperatives to facilitate the collection of crops and their transport to urban centers for distribution to help them improve their incomes and reduce post-harvest losses. Freshbag leverages on its network and in-depth experience in the industry, to buy produce from farmers and suppliers at fair market prices and dispatches the products to thousands of street vendors in...

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