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Startup

Black Business Month has officially arrived.  To kickstart this month, online marketplace, FLOURYSH, has announced its partnership with e-commerce platform, Shopify, to help elevate 1 million Black-owned businesses, providing them with the necessary tools needed to scale and grow.  The FLOURYSH x Shopify partnerships aim to address the lack of access to information, a common setback for aspiring entrepreneurs. According to the press release, Black business owners receive a 120-day free trial on the e-commerce platform. “The partnership came to be because of our continued commitment to providing resources and

Here is our latest roundup of tech headlines from across the African continent.  Black-owned digital insurance platform, Lami Technologies, has raised $3.7 million in a seed extension funding round. The funding round, which Harlem Capital Partners led, will help the API platform begin its path to building and distributing an end-to-end digital insurance platform. The additional funding brings Lami Technologies’ overall funding amount to $5.6 million.  Lami Technologies, founded in 2018 by Jihan Abbas, is an end-to-end digital insurance and API platform enabling companies across sectors to offer insurance products.

Black-owned startup, Qwili, raises $1.2 million in seed funding. The funding round, led by South African venture firm E4E Africa also included Strat-Tech, Next Chymia, Untapped Global, and Codec Ventures. Angel investors Ashwin Ravichandran and Kanyi Maqubela also participated in the funding round.  Qwili, co-founded in 2020 by Luyolo Sijake, Thandwefika Radebe, and Tapfuma Masunzambwa, works as a hybrid sales platform to support micro and small merchants in South Africa. The company, which aims to address the lack of access to digital products and services within the African market, has developed a quality and

Mexico City-based fintech platform, Arrenda, has raised $26.5 million in a pre-seed funding round of equity and debt. The funding round, which Fasanara Capital and Kube Ventures led, also included ODX Ventures, Toehold Ventures, Wharton Fintech, Lightspeed Venture Partners Scour Fund, PRMM Inmobiliaria, and a range of angel investors. Arrenda, founded in 2022 by Joe Merullo, is a revenue-based startup that works to provide market-specific insurance and financial products to the real estate markets and landlords of Latin America. Not only does it offer advance payments to landlords, but it

As the financial downturn continues to daunt the world and we slowly move towards another recession, venture capital funding has dropped significantly, ultimately affecting the progression of early startup businesses. Entrepreneur McKeever “Mac” Conwell shares his tips on how startup businesses can survive, grow, and expand during these turbulent times. Black-owned VC firm, RareBreed, founded in 2021 by McKeever “Mac” Conwell, is a pre-seed fund that invests in early pre-seed tech companies. It also allows angel investors to become limited partners for more significant funds. So not only does it

How do you allow — and make it easier for — anyone to start a company? That’s the question driving Pulley, the cap table and equity management platform that has just raised $40 million in Series B investment funding. The new investment brings Pulley’s total funding to $50 million to date. The funding round was led by Keith Rabois at Founders Fund, including investors Stripe and Elad Gil. The latest investment fund comes a year after the company’s rapid growth, supporting over 1,600 companies across 80 countries.  The serial investor

Black-owned investment accelerator, 1863, has unveiled its investment strategy for “New Majority” entrepreneurs, a term that they use to describe Black and Brown business owners who have been historically marginalized. The investment funding will go towards helping early-stage entrepreneurs develop their businesses to achieve generational wealth and hit their target goals. 1863, founded by Melissa Bradley in 2020, is a business development program designed to bridge the gap between entrepreneurship and equity. The platform works with marginalized entrepreneurs to help accelerate them from high potential to high growth. The firm

Black-owned food waste startup, Goodr, has closed $8 million in their latest round of financing. The funding round, led by venture capital firm, Precursor Ventures, included investment firm Collab Capital, Emerson Collective, Backstage Capital, Innovations for Impact, Kimbal, Telus Pollinator Fund, and a series of other private angel investors. This round brings Goodr’s total funding to $9.4 million. The Atlanta-based startup, founded by Jasmine Crowe in 2017, works to feed people who may experience food insecurity. The community first focused on helping feed a small number of people experiencing homelessness

London-based venture capital firm, Octopus Ventures, has launched its first £10 million ($12 million) pre-seed fund to support fresh startups in the fintech and health sectors. The firm, founded in 2007, works to fill the growing gap in early pre-seed funding for European founders.  Kirsten Connell and Maria Rotilu, veterans of Seedcamp and Uber, will lead the company’s first-ever investment fund. They will bring their extensive experience and knowledge of growing firms from the beginning to the job, enabling them to work closely with start-ups in their early years.  Octopus

Jeeves — which describes itself as “an all-in-one corporate card and expense management platform for global startups” — was valued at $500 million back in September last year when it raised a $57 million Series B. This means it has quadrupled in value in just over six months as it announced last week that it has now raised $180 million in a Series C round that values the company at $2.1 billion. Jeeves only publicly launched in March of 2020, and officially emerged from stealth last June with $31 million

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