Issue #17: Africa’s Weekly Funding Recap

In today’s episode of Africa’s Weekly Funding Review, we recorded some fundraising and acquisition announcements that we found this week in the African startup ecosystem.

If you missed it, here are the highlights:

  • Moove announced a new $20mn financing from British International Investment (BII)
  • Kukua raised a $6 million investment round co-led by Tencent and Alchimia
  • SAVA raised $2 million in a pre-seed funding round
  • FirstCheck Africa received a $2 million commitment from TLcom Capital



Moove, a global mobility company democratising vehicle ownership across emerging markets, announced a new $20mn financing from British International Investment (BII).


Kukua, a Nairobi- and London-based educational entertainment company, raised a $6 million investment round co-led by Tencent and Alchimia with participation from EchoVC, Firstminute Capital and Auxxo Female Catalyst.


Sava, an African fintech building Africa’s first finance automation platform designed to save businesses time and money, raised a $2 million pre-seed funding round. Investors participating in this round include Quona Capital, Breega, CRE Ventures, Ingressive Capital, RaliCap, Unicorn Growth Capital and Sherpa Ventures.


Yellow, a South African fintech that delivers life-changing pay-as-you-go products on a technology-led distribution system to low-income households in Africa, secured a $20 million debt financing.


OKO, an insurance startup that provides index insurance and other farming-related services to smallholder farmers in emerging countries, raised a $500,000 seed extension round from Katapult, Guillaume Leenhardt, Henry Allard and Lionel Dorie.


Afrikamart, a Senegalese startup revolutionising the fresh food value chain through digital technology, announced closing an $850,000 seed funding round from BLOC Smart Africa Fund, Orange Ventures, Launch Africa and Teranga Capital. BLOC Smart Africa invested $360,000 in Afrikamart.

Touch and Pay

Touch and Pay Technologies, a Nigerian fintech digitising and processing microtransactions in Africa, received an undisclosed investment from Tekedia Capital.

Venture Capital

FirstCheck Africa, an early-stage venture capital firm that invests in high-growth female-led startups, received a $2 million commitment from TLcom Capital.

This is an addition to FirstCheck Africa’s $10 million debut fund.


Seven African startups just graduated from the 13-week Techstars Toronto Accelerator and concluded Demo Day raising funding from different global investors.

The participating startups include Gigmile, Blackcopper, Mycoverai, Emergency Response Africa, Glade, Bongalow and truQ.

And it is wrapped for this week. Kindly share this newsletter with friends.

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