DOB Equity led a USD3m seed round for Power Financial Wellness, a Kenya-based holistic financial services platform, with participation from Bolt by QED Investors, Quona Capital, Zephyr Acorn and Norrsken Accelerator. Read More
The purpose of this article is to initiate communication between multilateral and bilateral development finance institutions (‘’DFIs”) and private equity fund managers (“FMs”) that seek to attract DFI funding for investments in countries within the mandate of DFIs. This is with the intention of equipping FMs with an upfront understanding… Read More
Costanoa Ventures and Norrsken22 led a USD20m Series B for Smile Identity, a Nigeria-based KYC compliance and identity verification provider, with participation from Commerce Ventures, Courtside Ventures and Two Culture Capital, and follow-on from 500 Fintech, Latitude and others. Read More
Global Ventures and Delivery Hero Ventures led a USD16m Series B for Yodawy, an Egypt-based healthtech that connects pharmacies, insurance companies and pharmaceuticals with patients, with follow-on from AAIC Investment, Dallah Al-Baraka, Middle East Venture Partners (MEVP), CVentures and P1 Ventures. Read more… Read More
Egypt-based CRM platform Gameball raised a USD3.5m seed round from 500 Global, P1 Ventures, Launch Africa, Seedra Ventures, Arzan Ventures and others. Read more… Read More
Adiwale Partners and Investisseurs & Partenaires (I&P) acquired a minority stake in VoltaCars Rental Service (VRS), a Ghana-based vehicle leasing company. Adiwale acquired VRS through its maiden Adiwale Fund I, which reached a EUR60m final close in 2021 and targets growth capital investments in West Africa’s SMEs. … Read More
AfricInvest, through its fourth flagship fund, invested in Nigeria-based retail chain Justrite. Read more… Read More
The Energy Inclusion Facility (EIF), managed by Lion’s Head Global Partners, agreed to provide a EUR7.5m (~USD8m) credit facility for SolarX, a Mali-based developer of commercial and industrial (C&I) solar power plants. Read more… Read More
Jetstream Africa, a Ghana-based supply chain platform, raised a USD13m equity and debt pre-Series A. Cauris Management and Proparco led the debt financing, and equity investors included Octerra, Wuri Ventures, Seed9, The MBA Fund and ASCVC, with follow-on from Alitheia IDF and Golden Palm. Read more… Read More
Nasdaq-listed BioNTech agreed to acquire InstaDeep, a Tunisia-founded, UK-based AI industrial decision-making platform backed by AfricInvest, Endeavor Catalyst and others, for EUR362m (~USD387m). Read more… Read More
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