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Venture Capital

Investors will be with you for a long time – and ending the relationship can be harder than getting a divorce, says June Angelides, a business owner, venture capitalist, and columnist. Before we discuss the business tips she’s shared in her most recent FT column. Here’s a breakdown of who she is for those of you who don’t know. Angelides was raised in Lagos, Nigeria where she had an early introduction to entrepreneurship through her family. Her uncle Ben Murray Bruce founded Silverbird, the first cinema in Nigeria. She recalled in an interview

MarketForce, the retail B2B and end-to-end distribution platform founded in Kenya, has raised $40 million in Series A funding for its merchant inventory financing and expansion across Africa. The firm, which first launched in Uganda in 2018, plans to introduce buy-now-pay-later (BNPL) options to help merchants access fast-moving consumer goods (FMCGs) on credit. It also plans to enter additional markets in East and West Africa. Through its merchant super app RejaReja, informal traders can source goods directly from manufacturers and distributors, make and pay for orders digitally, accept payments for utility

Remedial Health has secured $1 million in pre-seed funding to digitize pharmacies, and stem the supply of fake and substandard pharmaceutical products, starting with Nigeria before expanding to the rest of Africa. Founded in 2020 by Samuel Okwuada, a trained pharmacist and self-taught software developer, together with his co-founder Victor Benjamin – the company is said to be using part of the new funding will be used to extend the startup’s buy-now-pay-later offering, for an even wider reach. Okwuada started his entrepreneurial journey while still at the university, where he built SaaS products,

Kiaan Pillay runs Stitch, which offers a B2B application programming interface (API) focused on fintech infrastructure. The founder has announced that Stitch — one of the prominent players building and operating these APIs in Africa — has raised $21 million in Series A funding. The South African API fintech enables businesses to build, optimize, and scale financial products. With its API, developers can connect apps to financial accounts. This allows users to share their transaction history and balances, confirm their identities and initiate payment Per a statement released by the company, it plans

Duplo, a Lagos-based fintech, is attempting to tackle these inefficiencies by digitizing payment flows for B2B companies, starting with those in this industry. It comes after the company secured a place in Y Combinator last November and is taking part in the accelerator’s current winter batch. The YC-backed startup has also raised a $1.3 million pre-seed round led by early-stage pan-African VC firm Oui Capital to further its growth. A mix of local and international investors such as MyAsia VC, Y Combinator, Flutterwave CEO Olugbenga “GB” Agboola and Mono CEO Abdul Hassan

The company was founded in 2015 by Femi Kuti, Opeyemi Olumekun, and Matthew Mayaki and now – six years later – it has just raised $40 million.  Headquartered in Lagos, Nigeria, and Austin, Texas, Reliance Health began operations in Nigeria as a telemedicine-focused startup, Kangpe, it later expanded into a single-fee healthcare provider to better address the complex, evolving needs of patients. Reliance Health operates business-to-business and business-to-customers models. RelianceHMO is the company’s health insurance plan for both sets of customers where individuals can select monthly, quarterly, or yearly health plans. But businesses can

Dr. Elizabeth Shaw, the founder of 1000 Black Voices, said George Floyd’s death was a catalyst to launching her accelerator. She launched the AI and Blockchain program aimed directly at early-stage companies founded by Black entrepreneurs and technologists last year. The partnership between 1000 Blackvoices and the AI marketplace platform, SingularityNet, promised a mix of mentoring, coaching, and funding opportunities to ten businesses from around the world.   She told Forbes in an interview that the immediate global response to the death of George Floyd was mainly focused on the need to

Amitruck, a Kenyan tech-enabled logistics platform, has just raised $4 million in seed funding – bringing the total funds raised to date to $5 million. The most important purpose of this round is hiring, according to Amitruck founder and chief executive officer Mark Mwangi. The seed round was led by Better Tomorrow Ventures (BTV), with the participation of Dynamo Ventures, Rackhouse Venture Capital, Flexport Inc, Knuru Capital, Launch Africa Ventures, Uncovered Fund and a number of angel investors. Launched in 2019 as a digital logistics marketplace, Amitruck connects shippers with transporters

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