Ecosystem Insider

Issue #25: Africa’s Weekly Funding Review

August 15, 2022

Today’s episode of Africa’s Weekly Funding Review is exciting. As always, we recorded some fundraising, acquisition and other exciting announcements last week in the African tech & startup ecosystem.

If you missed it, here are the highlights:

QED led a $50 million investment in TeamApt
DataProphet closed a $10 million Series A funding round
OneOrder secured a $6.5 million working capital facility
Convertedin raised a $3 million seed round

+ MORE!

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Funding

TeamApt, a Nigerian fintech company that develops digital banking and payment platform for financial transactions, received over $50 million in investment from QED, a U.S. fintech-focused venture capital firm. Other investors participating in the round include Novastar Ventures, Lightrock and BII.

DataProphet, a South African startup that provides AI-as-a-service software in the manufacturing sector, closed a $10 million Series A funding round led by Knife Capital, with IDC and Norican also participating in the round.

Zeepay Company Limited, a Ghanian cross-border payments company, raised $10 million in debt financing led by Symbiotics BV.

OneOrder, an Egyptian B2B e-commerce startup that provides food supplies to hotels, restaurants and cafes, secured a $6.5 million capital facility from Contact Factoring.

ConvertedIn, an Egyptian ad automation platform for ecommerce businesses using AI, raised a $3 million seed funding round led by Merak Capital, with participation from 500 Global and MSAS.

Sharwa, an Egyptian social e-commerce platform that offers the most affordable & quality household essentials to the masses via a gamified group buying experience, raised a $2 million pre-seed round co-led by Nuwa Capital and Hambro Perks Oryx Fund and other investors.

SociumJob, a Senegalese platform that connects African companies to local talents and those from the diaspora, raised 1 million euros in its first financing round from Breega, Evolem, Kima Ventures, Techmind, Teranga Capital, and other angel investors.

FinAccess, a Kenyan fintech startup building tools to digitise Savings and Credit Cooperative Organisations (SACCOs) and farming cooperatives in the East Africa region, raised $500,000 in funding from HAVAÍC. (Barclay Paul Okari)

Tripesa, a Ugandan startup automating and linking the tourism value chain in Africa by building a Payments first Business Process Management solution specific to the sector, raised an undisclosed pre-seed funding round.

Droppa, a South African logistics startup that makes it convenient and safer to transport your parcels, goods and furniture using their easy-to-use mobile app and interactive booking system, raised an undisclosed Series A funding round led by SkyNet Worldwide Express.

Bonbell, an Egyptian startup specialising in food ordering and digital solutions for table and meal reservations, closed an initial funding round for $350,000 through a Canadian Angel investor.

SodaWorld, an African startup that enables artists to earn revenue from within the Metaverse, secured investment from CV VC, a Swiss Venture Capital.

FaidiHR, a Kenyan payroll and HR startup that help businesses in Africa automate their manual and payroll processes, raised an undisclosed amount of funding from Sprintx.