Home Issue #140: Slow Week for Startup Funding in Africa as North African Companies Take Center Stage

Issue #140: Slow Week for Startup Funding in Africa as North African Companies Take Center Stage

Funding activities in the African startup ecosystem slowed down for the first time since the second week of January this year. We only recorded two funding announcements featuring two North African startup companies.

However, while startup funding activity was slower this week, the ecosystem remained dynamic with significant acquisition moves. In this edition, we cover the latest fundraising rounds involving QME and Dabchy, as well as a strategic acquisition deal involving Dubizzle Group and Hatla2ee.

Startup Funding Rounds

QME

Funding Round: Seed ($3 Million)

Investor: AHOY

Founded: 2022, Egypt

Founders: Maged Negm

About the Company:
QME is a B2B SaaS startup that helps businesses streamline their procurement and supply chain management. The platform provides end-to-end digital procurement solutions, automating vendor management, purchase orders, and payments. By leveraging AI and real-time analytics, QME enables companies to cut costs and optimize efficiency.

What’s Next?

With this funding, QME plans to further redefine how businesses and government setups interact with customers, and enhance its product offerings to provide seamless tech-driven experiences for its clients and their clients.

Dabchy

Funding Round: Pre-Series A

Investor: Janngo Capital, Karim Beguir

Founded: 2016, Tunisia

Founders: Ameni Mansouri, Ghazi Ketata, Oussama Mahjoub

About the Company:
Dabchy operates a P2P fashion resale marketplace that allows users to buy and sell second-hand clothing and accessories. The platform provides a trusted ecosystem for fashion lovers, enabling sustainable and affordable shopping. Dabchy has positioned itself as a key player in the growing circular economy in North Africa.

What’s Next?

The new investment will help Dabchy accelerate growth and expand into new markets including Egypt while also broadening its product offerings and serving a larger user base.

Acquisitions

Dubizzle Acquires Egypt’s Online Car Marketplace Hatla2ee

Dubizzle Group, the company behind major online classifieds platforms operating across the MENA region, has acquired Hatla2ee, Egypt’s largest online car marketplace. Hatla2ee provides a specialized platform where individuals and businesses can buy and sell vehicles easily. The platform makes transactions easy for users with specialized features like price estimation tools, financing options, and dealership integrations.

This acquisition significantly strengthens Dubizzle’s position in the automotive classifieds space, giving it deeper penetration in Egypt’s fast-growing used car market. By integrating Hatla2ee’s vehicle database and technology, Dubizzle aims to enhance its digital auto marketplace and improve user experience with more seamless car transactions. The deal also allows Dubizzle to expand its reach in North Africa and bolster its dominance in the regional automotive industry.