Ecosystem Insider

Issue #27: Africa’s Weekly Funding Review

August 8, 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:

ArabyAds raised a $30 million pre-Series B funding round
SubsBase raised a $2.4 million seed funding round
Taaply secured $500,000 in a funding round
OBM Education raised a second investment round

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Funding

ArabyAds, an Egyptian ad-tech startup offering a full range of services, including online marketing, creative function, advertising and more, raised a $30 million pre-Series B funding round led by AfricInvest’s Maghreb Private Equity Fund IV.

Subsbase, an Egyptian startup that offers comprehensive subscription management and billing solutions that help businesses acquire and retain more customers, raised a $2.4 million seed funding round led by Global Ventures. Other investors participating in the round include HALA Ventures, P1 Ventures, Plus Venture Capital (+VC), Plug and Play, Ingressive Capital, Camel Ventures, and existing investors Falak Startups and Arzan Venture Capital.

OBM Education, an Egyptian edtech offering career development navigation tools for high school and university students, raised a second round of investment from EdVentures.

Taaply, a Cameroonian startup providing digital solutions for enterprises to facilitate and streamline their processes, raised $500,000 in a funding round from international investors.

Wami Agro Limited, a Ghanian AgriTech that solves challenges faced by smallholder farmers with technology, received a $227,000 investment from The Wangara Green Ventures.

The Cape Town Stock Exchange, South Africa’s stock exchange for small- and medium-sized businesses, raised a $5 million funding round led by Imvelo Ventures. Other investors participating in the round include Lebashe Investment Group, Pallidus Alternative Investments, Shaolin Investments Limited and Gary Stroebel.

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Acquisition

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valU, an Egyptian Buy-Now, Pay-Later (BNPL) lifestyle-enabling fintech platform, has acquired 100% of Paynas, an Egyptian digital platform transforming how employers manage, pay, and guarantee financial wellness & wellbeing to their employees by unlocking the resources they need.

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