This week, four companies received funding in equity and loans. Two of the companies, Egyptian mobile food services, Brotinni, and Rwandan Lending-as-a-Service Provider, Kasha had undisclosed equity funding rounds. Elsewhere, Rubyx from Senegal secured a loan from Proparco to expand its services across Africa while Fido raised an equity funding of $20m to go with a $10m loan.
Funding
Brotinni
Funding round: Undisclosed
Investors: Entlaq
Founded: 2020, Egyptian
Founders: Dalia Abu Omar
Products: Brotinni operates in a category of food-tech companies called dark butchers. As the first dark butcher in Egypt, the company enables customers to purchase meat and poultry products online and remotely, helping them to leverage digital technology to simplify their meat shopping experience. Their customers include households, restaurants, and local meat processors.
What Next?: The new funding will enable the company to expand its operations and grow its customer base within Egypt and the entire MENA region.
Kasha
Funding round: Undisclosed
Investors: Sanofi Global Health
Founded: 2016, Rwanda
Founders: Joanna Bichsel and Christoph Bichsel
Products: Kasha operates a digital retail and last-mile distribution platform for pharmaceuticals and FMCGs, with a specific product focus on women’s healthcare needs and household items. Customers include individual consumers, small resellers, hospitals, pharmacies, and clinics, who order via website or USSD for products like sanitary pads, contraceptives, diapers, and cleaning supplies.
What Next?: The investment aims to support the company’s plans to expand into more countries in Africa, focusing on improving its reach and customer base.
Rubyx
Funding round: Debt ($526,000)
Investors: Proparco
Founded: 2018, Senegal
Founders: Denis Moniotte and Thomas Carrié,
Products: Rubyx operates a lending-as-a-service solution which includes an API-driven digital lending platform whch enables businesses and MFIs to develop and launch innovative loan products rapidly
What Next?: The funding aims to support Rubyx ambition of providing financial institutions and startups with all the technical solutions they need to provide credit facilities to their clients.
Fido
Funding round: Series B, Debt and Equity ($30 Million)
Investors: BlueOrchard Finance Ltd and FMO – Dutch entrepreneurial development bank, Stanbic Bank Ghana, and Growth Investment Partners (GIP).
Founded: 2015, Ghana
Founders: Tomer Edry, Nir Zepkowitz, and Nadav Topolski
Products: FIDO is a financial services and solutions company that provides digital financial products for clients. The company’s original product was a mobile-based loan platform targeted at individuals and MSMEs unable to access credit from traditional banks. But it now offers additional services such as savings, and bill payments.
What Next?: Fido aims to expand its services and customer base with the goal of crossing $1 billion in total disbursements by 2025. The new funding firmly positions Fido to scale up its operations, deepen its impact on lives, and achieve its goals.
Opportunities
Innovest Ignite Global Accelerator Program ( up to 50,000 USD for equity)
TVC Labs MentorPitch 8 Program for Early-Stage Startups
Innovest Ignite Global Accelerator Program ( up to 50,000 USD for equity)
Aurora Tech Award 2025 for Women Founders of Tech Startups ($85,000 prize fund)
