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Africa

Last week, Yep!, a “financial super app” with payments, remittance, and banking features, announced that it has raised $1.5 million in a pre-seed round led by pan-African VC Greenhouse Capital. The San Francisco- and Lagos-headquartered startup was started by Olaoluwa Awojoodu, who then teamed up with Airende Ojeomogha and Garry Ottosen to start Yep!. The startup plans to go live across the five markets where E-Settlement is present, serving digital financial services to consumers, small business owners, and merchants. They also have a mission to enhance financial inclusion by leveraging PayCentre Africa — the startup’s agent banking platform, to

TechLit Africa redistributes recycled technology to build computer labs in African schools. With 4,000 students and 20 teachers, the organization has built 10 computer labs in rural Kenya and is working on the next 100 computer labs. Nelly Cheboi, who grew up in a poor rural village in Kenya, landed a full scholarship to study computer science at Augustana College in Illinois and later built a school in Kenya, Zawadi, where she then started TechLit Africa. The program is unique because it teaches relevant classes; they hire local teachers to make

Curacel, the YC-backed startup developing insurance infrastructure for the African market, has launched a new interface that allows digital businesses like those in retail, fintech, e-commerce, and logistics to add insurance to their core products. Dubbed Curacel Grow – the new product is an embedded insurance product that empowers technology companies to seamlessly offer insurance as part of their existing products and services. The Nigerian insurtech startup is launching Grow to support insurance distribution to millions of Africans through partners like Barter by Flutterwave, Float, Payhippo, and other leading technology companies. Insurance

Antler East Africa, the Nairobi office of VC firm and venture builder Antler, has closed a $13.5 million fund to invest in early-stage tech startups in the region. Antler, which was first launched in 2019, actually intended to raise $10 million but ended up with an extra $3.5 million. It runs a full venture building model with two cohorts each year. Five cohorts with 153 founders have passed through the accelerator programs so far, and the firm has made 14 investments, according to reports and a few of them include

Sudo Africa, an API platform that enables you instantly issue physical and virtual cards with more control and flexibility at scale, has raised $3.7 million in pre-seed funding. What makes the startup different from others? While banks take weeks or months to give cards, Sudo Africa claims to just take days. In partnership with licensed card issuers, the company’s infrastructure allows itself and any developer or merchants that come on its platform to issue virtual and physical cards to their customers. And on the platform lets businesses control and program cards to

The initiative, launched by Meta five years ago to drive connectivity in underserved regions, will reportedly be discontinued. Meta, formerly Facebook, quietly issued this notice on its website stating its plans to wind down the program later this year. The program was envisioned to bridge the internet gap across emerging markets like Africa, where connectivity is lowest across the globe. According to the 2021 GSMA mobile economy report, about 28% of the population in sub-Saharan Africa is connected to the mobile internet. This is in comparison to the connectivity in other regions

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

 Casava, the self-described “Nigeria’s first 100% digital insurance company”, has raised a $4 million pre-seed round. It was first founded by Bode Pedro. Before starting Casava, Pedro ran VisaCover, an insurance brokerage company, in 2014. The idea for Casava came while VisaCover provided an alternative in the auto insurance market by allowing drivers of Uber, which was one of its partners, to make weekly insurance payments instead of quarterly or yearly payments insurance partners before it operated, according to TechCrunch. He left the VisaCover company in 2016 and Pedro brought on Olusegun

Nestcoin, a Black-owned company founded last November with a mission to build, operate, invest in web3 applications and make crypto accessible to everyone, has raised $6.45 million pre-seed. The company’s products cut across Decentralized Finance (DeFi), media, digital art, and gaming. Described by its founder as a venture collective, it launched its media arm called Breach last year to create bite-sized and informative crypto content for the average African. It also set up Metaverse Magna (MVM), a gaming guild that introduces users to the world of play-to-earn crypto-powered games like Axie

Bamboo, an investment platform that allows Nigerians to buy and trade US stocks in real-time from their mobile phones or computers, has raised $15 million in a Series A funding round. Launched in January 2020 by CEO Richmond Bassey and COO Yanmo Omorogbe, the start-up has rapidly grown in popularity with retail investors, claiming over 300,000 accounts in Nigeria. Its users can access all equities available on the US stock exchanges, that is, the stocks of roughly 6,000 companies.  Last year, the company launched Powered by Bamboo, it’s API solution that allows asset managers, fintech

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