Tech and Startup News in Africa for the Month of June 2022

Tech and Startup News in Africa for the Month of June 2022

Africa’s tech startup scene is on the rise. Here’s a list of the most interesting funding deals, tech and startup news in Africa for the month of June 2022. Here’s May’s Issue.

Most Insightful Funding, Tech and Startup News in Africa for the Month of June 2022

  • 🛍 PiggyVest parent company; PiggyTech, acquired a Nigerian mobile money (MOMO) license allowing it to pivot the Abeg App (social payment app) to Pocket by Piggyvest (social commerce app)
  • 💸 Airtel launches Smartcash PSB in Nigeria as the telecom giant seeks to ramp up its mobile money play and tap into the 55% of Nigerians who don’t have bank accounts.
  • 👨‍💻 Tunisian tech training & upskilling platform, GOMYCODEraised an $8M Series A  — GOMYCODE currently operates in Tunisia, Morocco, Egypt, Algeria, Ivory Coast, Senegal, Nigeria, and Bahrain; it has 20 physical centres and over 500 teachers on its platform.
  • 💸Nigerian API-driven credit infrastructure platform, Indicina, which helps companies facilitate lending decisions, raised a $3M seed round  — Indicina has over 120 customers who it has helped process over $5M worth of loans
  • 🛒 Nigerian fintech focused on the cross-border e-commerce space Klasha, raised $2.1M  — Klasha announced a $2.4M seed round in October 2021 and says that this fundraise completes the round; , this raise also signals American Express Ventures’ first investment in an African startup. Since its May 2021 relaunch, Klasha has onboarded over 1,700 merchants & processed over 210,000 transactions.
  • 🔐 Nice Deer, an Egyptian digital insurance & healthcare platform connecting healthcare providers, health insurance companies, and beneficiaries, raised a $1M pre-seed led by DisrupTech Ventures
  • 🛒 ShopEx, a Nigerian direct-to-consumer live shopping multi-channel retail platform offering ‘As Seen on TV’ brands, raised a $635K pre-seed  — ShopEx says it’s done nearly $2.5M in sales since launch.
  • 💶 South African investment platform, Franc, raised a ~$522K seed extension round — The company announced a B2B offering that enables companies to offer investment products using Franc’s technology and license.
  • 🎀 Moroccan fintech and rewards platform, WafR, which helps FMCGs execute promotional campaigns in local grocery stores while allowing users to earn phone recharges when they use the app to pay, raised $455K at a valuation of $9M — WafR previously raised ~$650 over two rounds earlier this year; most recently in Week 14, it raised ~$278K at a $7.5M valuation
  • 🖥 VantagePay (formerly ZappGroup), a South African B2B white-label payment & technology solutions provider co-founded by former MTN Group CEO Paul Edwards, raised an undisclosed Series A from Crossfin Holdings, a Blue Garnet Ventures subsidiary
  • 🚗 SparePap, A Kenyan B2B2C after-sales spare parts, accessories, and car servicing platform, raised an undisclosed amount from Mobility54
  • OurPass, a Nigerian one-click checkout platform, raised an undisclosed amount from Tekedia Capital — Tekedia Capital previous led OurPass’ $1M pre-seed round in September 2021
  • 💰 Nigerian primary healthcare platform Clafiya and clean energy financing platform SunFi, South African health network HealthDart, Kenyan savings and investment platform Power Financial Wellness, Ghanaian BNPL platform Motito, Ugandan lending platform Emata, Tanzanian payment solution Umoja Labs, Rwandan artisan recruitment platform Fixa and Mozambican digital transport platform Appload are receiving a $125K investment each from the Norrsken Impact Accelerator
  • 📚 Kenya’s kids-focused ‘edutainment’ & media platform, Kukua, raised a $6M Series A. Kukua is an edtech platform that empowers African children with basic literacy and numeracy skill using an entertainment- & fun-first approach
  • 👥 FirstCheck Africa, a gender-lens, early-stage VC firm, added a $2M commitment from TLcom Capital to its $10M debut fund

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