The Gateway to Africa's Startup Ecosystem
The Gateway to Africa's Startup Ecosystem

Issue #11: Africa’s Weekly Funding Update

In today’s episode of Africa’s Weekly Funding Review, we recorded some fundraising and acquisitions announcements that we found this week.

If you missed it, here are the highlights:


GoMyCode, a Tunisian edtech that empowers people by upskilling and reskilling them on digital skills, raised an $8 million Series A funding round. The investment round was co-led by AfricInvest, through its Cathay AfricInvest Innovation Fund (CAIF) and Proparco.

Indicina, a Nigerian digital lending platform that uses advanced machine learning technology to help digital lenders make smarter credit decisions, raised a $3 million seed funding round led by Target Global with participation from Greycroft and RV Ventures.

Klasha, a Lagos and US-based startup that builds cross-border commerce solutions for Africa, raised an additional $2.1 million to complete its $4.5 million seed round. The new funding round was from Amex Ventures, Global Ventures and other international investors.

Rentoza, a South African on-demand subscription platform, secured $1.3 million in funding from MIC Khulisani Ventures Fund.

Nice Deer, an Egyptian insurtech that offers innovative health insurance solutions, raised a $1 million pre-seed funding round led by DisrupTech Ventures.

ShopEx, a Nigerian startup that brings teleshopping to the everyday life of Nigerians by creating DTC live shopping experiences, raised $635,000 in pre-seed funding round from HAVAÍC.

Franc, a South African digital wealth platform helping more people invest more, raised a $522,000 seed extension round from 4DX Ventures.

WafR, a Moroccan fintech and rewards startup that helps retail brands to deliver promotions to grocers to increase their market share, raised a $455,000 investment from Launch Africa Ventures, First Circle Capital, WeLoveBuzz, and several angel investors.

ADVA, the first Egyptian online service instalment platform, raised an undisclosed seed round from Sawari Ventures.

SparePap Limited, a Kenyan e-commerce platform that allows users to buy and sell spare parts and find on-demand mechanics, received investment and entered into a strategic commercial partnership with Mobility 54 Investment SAS.


MFS Africa, an African leading digital payments company, acquired Global Technology Partners, a US-based fintech, for $34 million.

Read Dare Okoudjou’s Message (CEO, MFS Africa)

Chari, a Morocco-based B2B e-commerce and fintech startup, has acquired Diago, an Ivorian startup that connects local shops to FMCG producers and importers.

And it is a wrap! Kindly share with others

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