This week, we saw substantial funding activity in the African food delivery and fintech sectors. Two major players secured significant funding to fuel their continental expansion. Egyptian grocery delivery pioneer Breadfast raises $10 million to expand its fulfilment network, while Nigerian food delivery platform Chowdeck secures $9 million. Meanwhile, HoneyCoin’s $4.9 million seed round signals growing confidence in African cross-border payment solutions. Get the details below.
Funding
Breadfast
Funding Round: Series B ($10 Million)
Investors: European Bank for Reconstruction and Development (EBRD), Novastar Ventures
Founders: Mostafa Amin, Muhammad Habib, Abdallah Nofal
Founded: 2017, Egypt
About Company
Breadfast offers on-demand online delivery of groceries and other household essentials. The company initially started with a focus on baked goods before expanding into a comprehensive grocery delivery platform. The company has built a strong presence in Egypt’s urban centres with its reliable delivery network.
What’s Next?
The investment will accelerate Breadfast’s expansion of its fulfilment network, increasing capacity in core cities Cairo, Giza, Alexandria, Mansoura, and other new markets to solidify its position as Egypt’s leading grocery delivery platform.
Chowdeck
Funding Round: Series A ($9 Million)
Investors: Novastar Ventures, Y Combinator, AAIC Investment, Rebel Fund, GFR Fund, Kaleo, HoaQ
Founders: Femi Aluko, Olumide Ojo, Lanre Yusuf
Founded: 2021, Nigeria
About Company
Chowdeck operates a digital marketplace that connects consumers with food vendors and restaurants. The company’s platform allows users to order food from restaurants of their choice easily and have it delivered to their preferred locations, serving Nigeria’s growing appetite for convenient food delivery services.
What’s Next?
Chowdeck’s recent acquisition of Mira, a POS solutions provider, adds technological capabilities for restaurants and vendors. And with the company aiming to become “Africa’s number one super app,” it plans to use the secured funding to replicate its excellent results in new locations within and outside Nigeria.
HoneyCoin
Funding Round: Seed ($4.9 Million)
Investors: Flourish Ventures, TLcom Capital, Stellar Development Foundation, Lava, Musha Ventures, 4DX Ventures, Antler, Visa Ventures
Founders: David Nandwa
Founded: 2020, Kenya
About Company
HoneyCoin operates a payment system that uses stablecoins to facilitate cross-border payments across different platforms, including banks, mobile money networks, and global payment providers. The company designed the platform to address the costly and slow nature of traditional cross-border transactions in Africa.
What’s Next?
The funding will finance HoneyCoin’s ambitious expansion plans into Asia and Latin America, while supporting deeper penetration across the rest of Africa, positioning the company as a global cross-border payment solution.
Hypeo AI
Funding Round: Pre-Seed (Amount Undisclosed)
Investors: Renew Capital
Founders: Meriam Bessa, Oussama Sekkat, Salah Eddine Mimouni
Founded: 2023, Morocco
About Company
Hypeo AI‘s platform links brands with both human and AI creators in under 15 minutes. The platform features smart matching, real-time performance tracking, and pricing insights, eliminating the spreadsheets and back-and-forth emails that dominate much of the influencer marketing industry today.
What’s Next?
The new funding will be used to accelerate how brands and creators connect, replacing slow, manual influencer campaign processes with AI-powered tools that could revolutionise marketing efficiency across Africa and beyond.
Street Wallet
Funding Round: Pre-Seed (Amount Undisclosed)
Investors: [undisclosed]
Founders: Kosta Scholiadis
Founded: 2021, South Africa
About Company
Street Wallet is a fintech solutions provider designing solutions to help informal traders go cashless. The startup’s solution enables each trader to receive a lanyard card with a unique QR code linked to their Street Wallet profile, bringing digital payments to South Africa’s massive informal economy.
What’s Next?
With the new funding, Street Wallet plans to expand its sales force, grow partnerships, and reach more communities, potentially transforming how millions of informal traders across South Africa conduct business and access financial services.
Funding and Opportunities
Job Opportunity: Artificial Intelligence Developer
Join the Brain Builders Youth Development Initiative (BBYDI)!
BBYDI is seeking a talented Artificial Intelligence Developer to lead the development of our innovative AI Fact Checker project.
The company is building “MyAIFactChecker,” an AI-powered chatbot that allows users to verify claims in real time via WhatsApp. The solution aims to combat widespread misinformation and enhance civic participation in low-literacy communities.
If you’re passionate about AI, social impact, and solving real-world problems, this is your chance to make a difference.
Get more details here
Reckitt Catalyst Accelerator – Applications Open
Calling on all innovators!
We’re excited to announce that applications are open for the Reckitt Catalyst Accelerator, a global program helping 20 scale-up ventures transform access to health and hygiene across Africa, Latin America, and Asia.
If you’re building solutions in sanitation, menstrual health, reproductive health, digital health, or other health and hygiene innovations, this is your moment to scale with global support.
Deadline to apply: August 17, 2025
Learn more: https://bit.ly/4lc1VhS
Apply here: http://bit.ly/3Ts7ZHe
GITEX Nigeria 2025 – Shaping Africa’s Digital Future
Join Africa’s premier technology event happening in Nigeria! GITEX is coming to showcase cutting-edge innovations, connect global tech leaders, and accelerate digital transformation in Nigeria.
Whether you’re a startup founder, investor, enterprise leader, or tech enthusiast, GITEX Nigeria offers unparalleled opportunities to:
- Network with industry pioneers and decision-makers
- Explore emerging technologies and solutions
- Discover investment and partnership opportunities
- Showcase your innovations to a global audience
Don’t miss your chance to be part of Africa’s digital revolution.
Register Here
To learn more about the event, click Here
Secure your spot at the event that’s defining the future of African technology.
