2 Min.
African VC deals since 19 February 2021 African VC/ Startup News
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Hi and welcome to African VC/ Startup news, a weekly newsletter where I highlight transactions in the African startup ecosystem over the past week (or two). Since 19 February 2021, I noticed 8 deals come across my screen.
In addition to sending the weekly newsletter, I maintain a database of deals, investors and portfolio companies in the African startup ecosystem, it is available: here. Please note that for the next few weeks I will not be updating the database as it is going through an upgrade!
Recently, I started a podcast with Kamo Motaung called The UpStartVC Podcast. It is available on Substack, Apple Podcast and Spotify, check it out and leave us a review!
Since 19 February 2021 I noticed the following deals:
Investments (7 deals)
1: Deya | Undisclosed amount (>$50k) | Pre-Seed | Undisclosed Angel Investors | Fintech
Investee:
Deya – an Angolan, tech startup that is the first Angolan crowdfunding platform that also aims to increase access to financing for social impact causes and entrepreneurs.
Investor(s):
Undisclosed Angolan Angel Investors
Detail: Angolan tech-startup Deya has received pre-seed funding of over $50k from a group of Angolan angel investors. The funds will be utilised to make improvements on the company’s digital platform, to scale up the business model and generally boost income and revenue.
2: Raise | $25k | Undisclosed round | Microtraction | Fintech
Investee:
Raise – a Kenyan fintech platform that provides end-to-end fundraising and equity management facilitation where startups can manage electronic cap tables, automate financing contracts like SAFEs and share private deal rooms.
Investor(s):
Microtraction – a Nigerian investment platform that provides seed capital to technology entrepreneurs at the earliest stages of their venture.
Detail: Kenyan fintech firm Raise has received $25k from Microtraction for its capital raising platform. The funds will be used to build out Raise’s platform and scale the business.
3: Stitch | $4m | Seed | Various investors | Fintech
Investee:
Stitch – a South African fintech startup that provides full Application Programming Interface (API) access to financial accounts. Stitch allows users to share their transaction history and balances, confirm their identities, and initiate payments.
Investor(s):
Firstminute Capital: a $225m seed fund backed by 81 unicorn founders investing across Europe and the US. Founded in 2017 by Brent Hoberman and Spencer Crawley.
The Raba Partnership: an investment partnership focused on partnering with entrepreneurs in emerging technology ecosystems.
CRE Venture Capital: partners with visionary entrepreneurs building category-defining tech companies in Africa.
Village Global: an early stage venture capital firm backed by some of the world's most successful entrepreneurs.
Norrsken VC: a non-profit foundation that invests in both for-profit businesses and non-profit organizations, whatever we believe makes most sense to have a positive impact on society.
Various angel investors
Detail: Stitch Money, a South African fintech startup with API infrastructure technology, has raised $4m in seed funding. The funds will be used for new hires, consolidation of growth in South Africa and the launch of its product in West and East Africa.
4: Diool | $3.5m | Undisclosed round | Lundin Group | Fintech
Investee:
Diool – a company based in Cameroon which provides payments fintech that helps small merchants sell consumer goods, collect payments from their customers and pay their suppliers easily. Through usage, they gain access to other financial services such as savings, credit and insurance products.
Investor(s):
Lundin Group – an investment group led by the Lundin Family and focused on mining and the resources sector.
Detail: Cameroonian payments fintech startup Diool has raised $3.5m in an undisclosed financing round, from the Lundin Group. The funds are to assist Diool expand in its local
Hi and welcome to African VC/ Startup news, a weekly newsletter where I highlight transactions in the African startup ecosystem over the past week (or two). Since 19 February 2021, I noticed 8 deals come across my screen.
In addition to sending the weekly newsletter, I maintain a database of deals, investors and portfolio companies in the African startup ecosystem, it is available: here. Please note that for the next few weeks I will not be updating the database as it is going through an upgrade!
Recently, I started a podcast with Kamo Motaung called The UpStartVC Podcast. It is available on Substack, Apple Podcast and Spotify, check it out and leave us a review!
Since 19 February 2021 I noticed the following deals:
Investments (7 deals)
1: Deya | Undisclosed amount (>$50k) | Pre-Seed | Undisclosed Angel Investors | Fintech
Investee:
Deya – an Angolan, tech startup that is the first Angolan crowdfunding platform that also aims to increase access to financing for social impact causes and entrepreneurs.
Investor(s):
Undisclosed Angolan Angel Investors
Detail: Angolan tech-startup Deya has received pre-seed funding of over $50k from a group of Angolan angel investors. The funds will be utilised to make improvements on the company’s digital platform, to scale up the business model and generally boost income and revenue.
2: Raise | $25k | Undisclosed round | Microtraction | Fintech
Investee:
Raise – a Kenyan fintech platform that provides end-to-end fundraising and equity management facilitation where startups can manage electronic cap tables, automate financing contracts like SAFEs and share private deal rooms.
Investor(s):
Microtraction – a Nigerian investment platform that provides seed capital to technology entrepreneurs at the earliest stages of their venture.
Detail: Kenyan fintech firm Raise has received $25k from Microtraction for its capital raising platform. The funds will be used to build out Raise’s platform and scale the business.
3: Stitch | $4m | Seed | Various investors | Fintech
Investee:
Stitch – a South African fintech startup that provides full Application Programming Interface (API) access to financial accounts. Stitch allows users to share their transaction history and balances, confirm their identities, and initiate payments.
Investor(s):
Firstminute Capital: a $225m seed fund backed by 81 unicorn founders investing across Europe and the US. Founded in 2017 by Brent Hoberman and Spencer Crawley.
The Raba Partnership: an investment partnership focused on partnering with entrepreneurs in emerging technology ecosystems.
CRE Venture Capital: partners with visionary entrepreneurs building category-defining tech companies in Africa.
Village Global: an early stage venture capital firm backed by some of the world's most successful entrepreneurs.
Norrsken VC: a non-profit foundation that invests in both for-profit businesses and non-profit organizations, whatever we believe makes most sense to have a positive impact on society.
Various angel investors
Detail: Stitch Money, a South African fintech startup with API infrastructure technology, has raised $4m in seed funding. The funds will be used for new hires, consolidation of growth in South Africa and the launch of its product in West and East Africa.
4: Diool | $3.5m | Undisclosed round | Lundin Group | Fintech
Investee:
Diool – a company based in Cameroon which provides payments fintech that helps small merchants sell consumer goods, collect payments from their customers and pay their suppliers easily. Through usage, they gain access to other financial services such as savings, credit and insurance products.
Investor(s):
Lundin Group – an investment group led by the Lundin Family and focused on mining and the resources sector.
Detail: Cameroonian payments fintech startup Diool has raised $3.5m in an undisclosed financing round, from the Lundin Group. The funds are to assist Diool expand in its local
2 Min.