Green for Growth Fund and SANAD invested USD40m and USD35m, respectively, in Egypt-based Banque Misr. The bank aims to use the fresh capital to support MSMEs in Egypt and to provide green loans to corporates, SMEs and Egyptian households to finance renewable energy projects and energy efficiency measures. Read More
Emtech, an emerging markets digital infrastructure provider for central banks, raised a USD4m seed round from 500 Global, Noemis Venture, Octerra Capital, Consonance Invest, XFactor ventures, Canaan Partners and Andrew Lundsten (Stripe). The firm concluded a test pilot in Ghana last year. Read more… Read More
Pantera Capital led a USD50m Series B for South Africa-based cryptocurrency exchange VALR at a reported USD240m valuation, with participation from Alameda Research, Cadenza, CMT Digital, Coinbase Ventures, Distributed Global, GSR, Third Prime and Avon Ventures, and follow-on from Bittrex and 4Di Capital. Read more… Read More
Generation Investment Management and Broadscale Group led a USD75m investment in M-KOPA, a Kenya-based asset financing platform for the underbanked, with participation from LocalGlobe and HEPCO Capital Management, and follow-on from CDC Group and Lightrock. Read more… Read More
Egypt-based community management software provider Milango acquired Circle, an Egypt-based proptech backed by 500 Global, for an undisclosed amount. Read more… Read More
4DX Ventures and Wamda led an undisclosed, seven-figure round for Egypt-based agtech FreshSource. Read more… Read More
Riyada Managers closed RCare, its single asset continuation fund, and acquired a 29% stake in Egypt-listed Cleopatra Hospital Group from Actis, DEG, EBRD and Proparco. Read more… Read More
Africa-focused agriculture social impact investor and project developer AgDevCo secured USD90m in funding from CDC Group, Norfund and DFC. CDC and Norfund provided USD50m and USD20m, respectively, in equity, while DFC provided USD20m in senior debt. Read more… Read More
V8 Capital Partners led a USD40m Series A for MarketForce, a Kenya-based B2B platform for retail distribution of consumer goods and digital financial services, with participation from Ten13 VC, SOSV Select Fund, Vu Ventures and Vastly Valuable Ventures, and follow-on from Reflect Ventures, Greenhouse Capital, Century Oak Capital and Remapped… Read More
Arrowroot Capital led a USD91m Series C for Clickatell, a US-headquartered chat commerce company founded in South Africa, with participation from Kennedy Lewis Investment Management, Endeavor Global and Harvest. Read more… Read More
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