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

If you missed it, here are the highlights:

• Cassava Technologies announced a $50 million strategic investment from C5 Capital
• Bloom raised a $6.5 million seed round
• Five African startups join YC Summer 2022 Batch
• Cathay AfricInvest Innovation Fund (CAIF) announced a final close of €110 million.

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Funding News

Cassava Technologies, Africa’s first integrated tech company of continental scale, announced that it secured a $50 million investment from C5 Capital (C5).

Bloom, a Sudanese fintech that provides high-yield savings accounts and adjacent digital banking services to improve the lives of East African consumers, raised a $6.5 million seed round. Investors participating in the round include Visa, Y Combinator, Global Founders Capital (GFC), Goodwater Capital, VentureSouq, Arash Ferdowsi, Nicolas Kopp, former U.S. CEO of N26; footballers Blaise Matuidi and Kieran Gibbs; and early employees at Revolut and Tide.

Bizao, an Ivorian fintech developing a payments hub for local and international companies in Africa, raised €8 million in a Series A funding round led by AfricInvest Group, with the participation of Adelie and Seedstars Africa Ventures.