Africa
Read the latest technology news and analysis on investments, venture capital, founders, and startups in Africa.
Featured Article
Pesa unlocks new markets to keep remittances flowing to emerging economies
Founders of Pesa, a remittance fintech, know too well how costly, inaccessible and unreliable remittance services drive people to opt for risky informal channels — like WhatsApp groups — to transfer money. Their firsthand experience using informal channels and realizing how prevalent their use was among Africans living in the…
Nala, a remittance startup that is now widening its portfolio through a new B2B payments platform, has raised $40 million equity in a rare deal that becomes one of the largest…
Update: Internet was restored on Wednesday morning, hours after the interruption. London-based internet rights monitoring group NetBlocks has reported a major internet disruption in Kenya following a wave of demonstrations…
Cadana, an emerging markets payroll services provider for global hiring platforms, banks $7.1M seed
The global freelancer market, a $1.3 trillion industry fueled by more than 200 million knowledge workers, drives demand for solutions that automate payroll and streamline employment and tax regulations worldwide.…
Paris-based VC Breega hits first close of $75M Africa fund to back pre-seed and seed startups
Paris-based VC firm Breega has observed Africa’s tech ecosystem mature over the years. From receiving less than a billion dollars in venture capital per year to a record-high $6 billion,…
The merger has yet to close due to extended due diligence amid ongoing restructuring and macroeconomic headwinds across multiple countries.
Inflation and currency devaluation have always been a growing concern for Africans with bank accounts.
YoLa Fresh works with over a thousand retailers across Morocco and records up to $1 million in gross merchandise volume.
Agritech company Iyris helps growers across eleven countries globally increase crop yields, reduce input costs, and extend growing seasons.
Google is preparing to build what will be the first subsea fiber-optic cable connecting the continents of Africa and Australia. The news comes as the major cloud hyperscalers battle it…
OpenseedVC, which backs operators in Africa and Europe starting their companies, reaches first close of $10M fund
Founder-market fit is one of the most crucial factors in a startup’s success, and operators (someone involved in the day-to-day operations of a startup) turned founders have an almost unfair advantage…
Accion’s new $152.5M fund will back financial institutions serving small businesses globally
For over six decades, the nonprofit has been active in the financial services sector.
Maad, a B2B e-commerce startup based in Senegal, has secured $3.2 million debt-equity funding to bolster its growth in the western Africa country and to explore fresh opportunities in the…
It is estimated that about 2 billion people, especially those in lower- and middle-income countries, lack access to quality and affordable essential medicines. The situation is exacerbated by low-quality or even killer…
Jumia’s revenue and gross merchandise volume showed growth despite a decrease in quarterly active customers, according to its Q1 2024 report. Revenue increased by 19% year-over-year (57% in constant currency)…
Two years after announcing plans, Amazon’s highly awaited e-commerce entry into sub-Saharan Africa has finally come to pass. On Tuesday, the tech giant launched its marketplace in South Africa. South…
The logistics industry in Nigeria, like any informal sector, struggles with poor infrastructure and other inefficiencies, making it difficult for businesses — both large and small — to move and…
Productive solar technologies draw investors as global off-grid solar sector funding slumps
Productive Use of Renewable Energy (PURE) technologies, especially those in the solar irrigation and cold chain segment, saw increased investor interest last year, despite a 43% funding slump recorded in…
Nigeria’s YC-backed Chowdeck hopes to scale food delivery, a notoriously tough market, with $2.5M funding
Food is significant to Nigerians, with households spending nearly 60% of their income on it, the highest globally, according to official reports. This strong affinity for food, coupled with the…
Ethiopian plastic upcycling startup Kubik gets fresh funding, plans to license out its tech
Kubik, a plastic upcycling startup, has raised a $1.9 million seed extension, months after announcing initial equity investment. The startup’s latest investment is from African Renaissance Partners, an East African…
Madica, an investment program launched by U.S.-based investor Flourish Ventures to back pre-seed startups in Africa, plans to invest in up to 10 ventures by the end of the year,…
Venture capital activity in Africa has shown resilience over the past six months, with major firms on the continent closing their funds despite the ongoing funding winter. In the latest…
Kenyan B2B e-commerce company MarketForce is winding down its B2B e-commerce business that served informal merchants (mom-and-pop stores) after a turbulent two-year period that saw it scale down operations severely.…
Amira Rasool founded The Folklore in 2018 to help fashion brands from emerging markets like Africa, Asia and The Caribbean tap into the international market. In 2022, the startup introduced…
Featured Article
Inside LemFi’s play to be fintech to the Global South diaspora
The African tech ecosystem, buffeted by huge potential but also lots of economic, political and social instabilities, is no stranger to major drama affecting even its most promising-looking startups. But recently, LemFi, the Nigeria-based fintech that provides money transfer services to African migrants, is shaping up as an example of…
Pula raises $20M Series B to provide agricultural insurance to farmers in Africa, Asia and LatAm
Since 2015, Pula, an insurtech based in Kenya, has been keen on enhancing the access to agricultural insurance by small-holder farmers across emerging markets, shielding them against losses from pests,…
Verod-Kepple Africa Ventures (VKAV) plans to back up to 21 growth-stage companies across the continent after closing its first fund at $60 million. The pan-African VC hit the milestone following…
Climate tech VC Satgana closes first fund that targets early-stage startups in Africa, Europe
Climate tech VC Satgana has reached a final close of its first fund, which aims to back up to 30 early-stage startups in Africa and Europe. The VC firm reached…
VNV Global, a Swedish investment firm that backs startups in mobility, health and marketplaces, slashed the value of its holding in Wasoko, an African B2B e-commerce startup, by 48%, according…
Welcome to TechCrunch Fintech (formerly The Interchange)! This week, we’re looking at some hot fintech startups in Africa, how Mint’s closure has been Copilot’s gain and why VCs have doubled…
