Week in Review
$$$ Megaround for Interswitch , Paymob raises $50m to support merchants in Africa, Jambo raises the largest Web3 round in Africa🚀
The Week in Review is designed to inform curious minds interested in the latest activity in the African innovation ecosystem.
Funding Rounds 🚀
Interswitchraises $110m | Fintech | Nigeria - leading African integrated payments and digital commerce platform.
Paymob raises $50m | Fintech | Egypt - enables merchants to accept digital payments online and in-store.
Jambo raises $30m - | Web3 | Congo - building Africa’s web3 user acquisition portal through “learn, play, earn” and democratizing access to crypto-based income-generation opportunities.
MARA raises $23million | Crypto | Nigeria - African focused crypto exchange.
Mylerz raises $9.6m |Logistics | Egypt -parcel delivery company in Egypt that introduces a fast same day delivery.
Kaltani raises $4m | Cleantech| Nigeria - Clean-tech plastic waste recycling company.
Identitypass raises $2.8m | Tech | Nigeria - Identity verification API for Africa.
TopUp Mama raises $1.7m | Fintech | Kenya - TopUp Mama is the one stop shop for African restaurants. Through the platform, restaurants get access to supplies and short term credit.
Teegara secures bridge funding | Ecommerce | Egypt - E-commerce website, which provides household plastics and hygiene, small electrical appliances, detergents, and more.
🔦 Startup Spotlight: Interswitch
What❓: Interswitch is an Africa-focused integrated digital payments and commerce company that facilitates the electronic circulation of money as well as the exchange of value between individuals and organizations.
Traction📈 : issued over 35 million active cards since launch. Over 200k businesses transact daily on platform.
Market opportunity 🌍 : Difficult for merchants and individuals to transact in electronic payments across the continent.
Competition⚡️: Equens, Clover, Moneris, ISG, Paystack, Flutterwave
Investors:LeapFrog Investments, Tana Africa Capital, VISA,
🗞 Other News
Algeria Venture, an Algeria-based accelerator, and the Algeria Investment Fund (AIF) have partnered to launch a VC fund targeting $10 million to support startups.
📢 Tell a friend to tell a friend 📩
The Week in Review is designed to inform curious minds interested in the latest activity in the African innovation ecosystem.