Nigeria’s Autochek Acquires Cheki Kenya and Cheki Uganda
Autochek, the automotive technology company facilitating auto financing across Africa, announced the acquisition of Cheki Kenya and Cheki Uganda from Ringier One Africa Media (ROAM Africa). The deal will see Cheki Kenya and Uganda’s operations integrate with the wider Autochek operations.
Australian Fintech Zip Acquires South Africa’s Payflex
Australian BNPL (buy now pay later) fintech startup Zip acquired South Africa-based fintech startup PayFlex at an undisclosed figure as part of its plans to expand into Africa. Zip plans to grow the South African business and expand into other African markets with sizeable underbanked, digitally savvy populations that will benefit from innovative payment solutions.
Rwanda Coding Academy Receives USD 7.1 Mn Investment From KOICA
The Korea International Cooperation Agency (KOICA) signed a Record of Discussion (R/D) with the Ministry of Finance and Economic Planning and the Ministry of Education for the implementation of the USD 7.1 Mn Rwanda Coding Academy (RCA) Capacity Development Project. The Government of Rwanda will provide the counterpart funding of USD 800 K for the project, making the total value of the project USD 7.9 Mn.
Kenyan Fintech Startup Pezesha Raises Seed Extension Round
Pezesha, a Kenyan fintech startup building scalable lending infrastructure for SMEs and institutions, closed a seven-figure seed extension round as it looks to expand across Africa. The round was led by GreenHouse Capital and also includes on-lending liquidity support from Venture Garden Group.
African Fintech Wave Raises USD 200 Mn Series A Funding Round
African mobile money provider Wave raised a USD 200 Mn Series A funding round led by Sequoia Heritage, Founders Fund, Stripe, and Ribbit. Others in the round include existing investors Partech Africa and Sam Altman, the former CEO of Y Combinator and current CEO of OpenAI. The startup is hoping to expand into Uganda and Mali as part of the most recent fundraising round and deepen its existing presence in other African markets and enhance its digital offerings and operations.
Kenya’s Solarise Africa Secures USD 5.9 Mn Debt Financing To Scale
Solarise Africa, a Kenyan energy leasing company, received EUR5 million (USD 5.9 Mn) in debt funding from Trine, a Swedish impact investing platform, to help it continue to expand across Africa. The funds will be disbursed across multiple tranches and will go into advancing investments in food security, renewable energy, urban development, and manufacturing and production in South Africa, Kenya, Ghana, and Rwanda.
Egyptian Fintech Startup MNT-Halan Raises USD 120 Mn Funding Round
MNT-Halan, an Egyptian fintech startup, received a USD 120 Mn investment from significant global and regional growth investors to expand worldwide and further enhance its product. The round was led by Apis Growth Fund II, Development Partners International (DPI), and Lorax Capital Partners and also features Middle East Venture Partners, Endeavor Catalyst, and Disruptech.
Nigerian Fintech Prospa Secures USD 3.8 Mn pre-Seed Funding
Nigerian fintech Prospa secured USD 3.8 Mn pre-seed funding as it aims to provide small businesses with banking and software services. The investors in the round included VCs like Global Founders Capital and Liquid 2 Ventures. Founders of global fintech like Mercury’s Immad Akhund, Karim Atiyeh of Ramp, and executives from Teachable, Square, Facebook, and Nubank also participated in the round. Prospa plans to use its new capital to double down and expand with acquisition strategies to get more customers.
Amethis Mena Fund Raises USD 100 Mn To Finance African SMEs
Amethis Mena Fund II (AMF II), a fund managed by investment fund manager Amethis, announced fundraising of USD 100.81 Mn for growing small and medium-sized firms (SMEs) in Africa. Amethis’ fundraising aims to finance small and medium-sized enterprises (SMEs) with a strong economic, social and environmental impact. For this financial mobilization, Amethis has received investments from the European Investment Bank (EIB), Proparco via FISEA+, the European Bank for Reconstruction and Development (EBRD), and the International Finance Corporation (IFC), the World Bank Group’s subsidiary.
Nigerian Startup OurPass Raises USD 1 Mn pre-Seed Funding
Nigeria-based startup OurPass closed a USD 1 Mn pre-seed round to scale across the country. The round was led by Tekedia Capital and angel investors from Fortune 500 companies.