Deal-Street Africa [April 26- May 2]: 9 Startups Funded, 2 Acquisitions & 1 Fund Launch

By  |  May 3, 2021

Here is a recap of last week’s notable deals on the African continent; Fintechs lead with 35 percent of last week’s total funding deals.

Kidato Raises USD 1.4 Mn Seed Investment To Scale Online School

Kidato, an online school for K-12 students in Africa, announced that it raised a USD 1.4 Mn seed investment from Start Capital and Launch Africa Ventures Fund, to scale its operations. Graph Ventures and Century Oak Capital also participated in the round.

Kenyan e-Health Startup TIBU Raises Seed Funding Round

Kenyan e-health startup, TIBU, raised a seed funding round of an undisclosed amount from Blue Haven Initiative and Kepple Africa Ventures to help it expand its operations.

Egyptian Fintech Startup Kashat Gets Angel Funding

Egyptian microloans fintech startup, Kashat, announced that it raised an undisclosed amount from The Cairo Angels; a global network of angel investors focused on supporting startup opportunities in Egypt, the Middle East, and Africa.

South African Fintech Payflex Secures Funding From Australian Multinational

Payflex, a Johannesburg-based fintech startup, announced that it secured an undisclosed investment from Zip Co Limited, an Australian-listed multinational.

Kenya’s Ajua Acquires AI and ML Company WayaWaya

Kenyan consumer experience platform for businesses in Africa, Ajua, announced that its acquisition of WayaWaya, a Kenya-based AI and ML messaging and payments company, to consolidate consumer experience in African SMEs.

Botswana Startup AlphaDirect Secures USD 600 K Pre-Series A Round

Botswanan insuretech startup, AlphaDirect, raised a pre-Series A bridge funding round of USD 600 K from Launch Africa Ventures and Century Oak Capital to help it grow into Zambia and South Africa. The round also included some angel investors from previous rounds.

South African Legal-tech Startups Secure Funding From Imvelo Ventures

Two South African legal-tech startups, Legal Lens and BriefCo, secured an undisclosed amount of funding from Imvelo Ventures, a local venture capital company founded by Capitec Bank and Empowerment Capital Investment Partners.

Three Ghanaian Startups To Receive Grant From MEST and Mastercard Foundation

Three Ghanaian startups were named top performers from the beta 2020 cohort of the MEST Express accelerator program and will receive equity-free funding and support from MEST and the Mastercard Foundation.

The three startups: Bosea, WeGoo, and Motito, will receive USD 10 K, USD 6 K, and USD 4 K respectively to support their operations.

Goodwell Investments Launches USD 60 Mn Fund For Entrepreneurs In Africa

Goodwell Investments, an Amsterdam-based investment firm, launched a USD 60 Mn fund for entrepreneurs in Africa, expected to launch in the second half of this year. The fund will channel money from private investors, family offices, and foundations to fast-growing, scalable small and medium-sized companies.

Adena Sells Stake In Ivory Coast’s Ademat to SPE Capital

Adenia, an African private equity company, has finalized the sale of its 100% equity stake in Ademat to SPE Capital, an African and Middle Eastern private equity firm. Adenia acquired Ademat in September 2016 through its  Adenia Capital (III) fund.

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