3 min
African VC deals since 7 March 2021 African VC/ Startup News
-
- Entrepreneurship
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 7 March 2021, I noticed 17 deals come across my screen, 11 investments, 2 fundraises (and 3 bank lending deals) and 1 acquisition. Of the 11 investments, Nigeria had 4 while Egypt and Ghana had 2 deals each. Fintech was the most active sector with 4 investments and 2 in logistics/ mobility .
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
Since 7 March 2021, I noticed the following deals:
Investments (11 deals)
1: Boost Ghana | $120k | Catalyst Fund | Undisclosed round | Retail management system
Investee:
Boost Ghana - provides digital solutions to support small and medium enterprises (SMEs) in Ghana to drive efficiency in the distribution of fast moving consumer goods.
Investor(s):
Catalyst Fund - Managed by BFA Global, Catalyst Fund is an accelerator for inclusive fintech startups.
Detail: The capital was provided as part of the Catalyst Fund Inclusive Digital Commerce accelerator, along with an expert-led venture support.
2: KudiGo | $120k | Catalyst Fund | Undisclosed round | Retail management system
Investee:
KudiGo - a Ghana based consumer retail software firm, offering data oriented solutions for African SMEs. They are positioned as an integrator and aggregator of essential technology tools for the consumer retail industry.
Investor(s):
Catalyst Fund - Managed by BFA Global, Catalyst Fund is an accelerator for inclusive fintech startups.
Detail: The capital was provided as part of the Catalyst Fund Inclusive Digital Commerce accelerator, along with an expert-led venture support.
3: Kuda | $25m | Valar Ventures, Target Global | Series A | Fintech
Investee:
Kuda - a Nigerian full service digital-only bank with a banking license. Kuda is designed for your smartphone, free of ridiculous charges and great at helping you budget, spend smartly and save more.
Investor(s):
Valar Ventures - cofounded by Peter Thiel, it is a fund that invests in high-margin, fast-growing technology companies that are pursuing huge market opportunities.
Target Global - an international investment firm headquartered in Berlin, with €1bn+ in capital commitments and co-investments.
Detail: The capital will be used to expand the company’s geographical presence and services, while increasing customer acquisition. A new easy-to-use lending option will soon be trialled with select customers.
4: Kabakoo Academies | Undisclosed amount | Zoom EdInnovation Award | Grant | Edtech
Investee:
Kabakoo Academies - a Mali based mission-driven organization building the first pan-African learning platform for digital and decentralized manufacturing skills.
Investor(s):
Zoom EdInnovation Award - supporting ideas that improve student engagement in online learning. The boldest and brightest ideas that support underserved students will be selected to receive Zoom technology, support, and funding.
Detail: The grant was made to support the work, which addresses the education challenges of today.
5: Nomanini | $1.5m | Goodwell Investments, FMO, Standard Bank | Undisclosed round | Fintech
Investee:
Nomanini - a South African fintech platform for the informal retail ecosystem, they connect merchants, distributors and global service providers, while integrating payments, working capital, and data analytics.
Investor(s):
Goodwell Investments - a pioneering investment firm focused on financial inclusion, fintech and inclusive growth in sectors providing basic goods & services and income generation opportunities to the underserved.
FMO - the Dutch development bank, founded in 1970. They support sustainable private sector growth in developing and emerging markets by investing in ambitious entrepreneurs.
Standard Bank - a 155 year old South Afric
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 7 March 2021, I noticed 17 deals come across my screen, 11 investments, 2 fundraises (and 3 bank lending deals) and 1 acquisition. Of the 11 investments, Nigeria had 4 while Egypt and Ghana had 2 deals each. Fintech was the most active sector with 4 investments and 2 in logistics/ mobility .
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
Since 7 March 2021, I noticed the following deals:
Investments (11 deals)
1: Boost Ghana | $120k | Catalyst Fund | Undisclosed round | Retail management system
Investee:
Boost Ghana - provides digital solutions to support small and medium enterprises (SMEs) in Ghana to drive efficiency in the distribution of fast moving consumer goods.
Investor(s):
Catalyst Fund - Managed by BFA Global, Catalyst Fund is an accelerator for inclusive fintech startups.
Detail: The capital was provided as part of the Catalyst Fund Inclusive Digital Commerce accelerator, along with an expert-led venture support.
2: KudiGo | $120k | Catalyst Fund | Undisclosed round | Retail management system
Investee:
KudiGo - a Ghana based consumer retail software firm, offering data oriented solutions for African SMEs. They are positioned as an integrator and aggregator of essential technology tools for the consumer retail industry.
Investor(s):
Catalyst Fund - Managed by BFA Global, Catalyst Fund is an accelerator for inclusive fintech startups.
Detail: The capital was provided as part of the Catalyst Fund Inclusive Digital Commerce accelerator, along with an expert-led venture support.
3: Kuda | $25m | Valar Ventures, Target Global | Series A | Fintech
Investee:
Kuda - a Nigerian full service digital-only bank with a banking license. Kuda is designed for your smartphone, free of ridiculous charges and great at helping you budget, spend smartly and save more.
Investor(s):
Valar Ventures - cofounded by Peter Thiel, it is a fund that invests in high-margin, fast-growing technology companies that are pursuing huge market opportunities.
Target Global - an international investment firm headquartered in Berlin, with €1bn+ in capital commitments and co-investments.
Detail: The capital will be used to expand the company’s geographical presence and services, while increasing customer acquisition. A new easy-to-use lending option will soon be trialled with select customers.
4: Kabakoo Academies | Undisclosed amount | Zoom EdInnovation Award | Grant | Edtech
Investee:
Kabakoo Academies - a Mali based mission-driven organization building the first pan-African learning platform for digital and decentralized manufacturing skills.
Investor(s):
Zoom EdInnovation Award - supporting ideas that improve student engagement in online learning. The boldest and brightest ideas that support underserved students will be selected to receive Zoom technology, support, and funding.
Detail: The grant was made to support the work, which addresses the education challenges of today.
5: Nomanini | $1.5m | Goodwell Investments, FMO, Standard Bank | Undisclosed round | Fintech
Investee:
Nomanini - a South African fintech platform for the informal retail ecosystem, they connect merchants, distributors and global service providers, while integrating payments, working capital, and data analytics.
Investor(s):
Goodwell Investments - a pioneering investment firm focused on financial inclusion, fintech and inclusive growth in sectors providing basic goods & services and income generation opportunities to the underserved.
FMO - the Dutch development bank, founded in 1970. They support sustainable private sector growth in developing and emerging markets by investing in ambitious entrepreneurs.
Standard Bank - a 155 year old South Afric
3 min