Deal-Street Africa [Mar 15-19]: Nigerian Fintech Kuda’s $25 Mn Is the Top Deal

Welcome to a new series of publications on WeeTracker on African venture funding. We would be covering notable VC and PE deals in the African investment space on a weekly basis. The deal data for the funding roundups are sourced from AfriCo.

Nowpay Secures Pre-Series A Funding

NowPay, an Egyptian fintech startup received funding in a pre-series A round from Global Ventures, Endure Capital, BECO Capital, Foundation Ventures, and Abderahman ElSewedy to support its expansion into international markets.

The startup also got selected into the Y Combinator’s Winter 2021 batch, securing USD 125 K in seed funding and further support.

Two Ghanaian Startups Selected Into Catalyst Fund’s Inclusive Digital Commerce Accelerator

Two Ghanaian eCommerce startups, KudiGo, and Boost Ghana got accepted into the Inclusive Digital Commerce Accelerator, securing USD 120 K each as a grant, bespoke and expert-led venture building support, and other opportunities. The accelerator program was launched as a partnership between the Catalyst Fund, the Mastercard Foundation, and the Meltwater Entrepreneurial School of Technology (MEST).

Zvendo Raises Six-Figure Seed Funding From EFG-EV

Egyptian eCommerce startup, zVendo, raised a six-figure seed funding from EFG-EV Fintech, and some other undisclosed angel investors to expand its operations to the rest of the GCC countries.

Nigerian Transport Startup PlentyWaka Gets Backed By Techstars

Nigerian ride-hailing startup, PlentyWaka, received an investment from Techstars and got accepted into the Techstars Toronto accelerator program, joining nine other startups.

Nigerian Fintech Startup Kuda Receives USD 25 Mn In Series A Funding

Kuda, a Nigerian fintech startup that provides digital banking services, received USD 25 Mn in series A funding from Valar Ventures, Target Global, and other unnamed investors for further expansion into new markets.

Ethiopian Fintech Startup ArifPay Receives USD 3.5 Mn In Funding

Ethiopian newly-launched fintech company, ArifPay, received USD 3.5 Mn investment from 31 undisclosed investors to support its rollout into the Ethiopian market.

Kwik Delivery Secures USD 1.7 Mn In Pre-Series A Round

Nigerian logistics startup, Kwik Delivery secured USD 1.7 Mn in a pre-series A round from several institutional and high net worth investors to enter into new markets.