March Industry News

01 Mar 2023


A collection of news across the African private equity and venture capital industry

BuuPass secures investment from America venture capitalist 

BuuPass, a Kenyan bus ticketing platform, has announced an investment from American venture capital investor Tim Draper. BuuPass secured this investment from Tim Draper as part of its participation in the Meet the Drapers reality TV show.

Source: Africa Private Equity News

BFREE secures US$2.95mn in funding round led by Capria Ventures

BFREE, an Africa-focused credit management platform, has completed its latest funding round, securing a total of $2.95 million. The round was led by Capria Ventures, with further participation from Angaza Capital, GreenHouse Capital, Launch Africa, Modus Africa, Axian CVC, and angel investors.

Source: Africa Private Equity News

COTU Ventures raises US$54mn to back founders in MENA

COTU Ventures has raised $54 million to invest in extraordinary founders in the Middle East and North Africa (MENA) region. COTU stands for Champions of the Underdog, a philosophy that embodies the firm's strategy, investing at the Pre-Seed and Seed stages, where founders are most underestimated.

Source: Africa Private Equity News

Deel acquires of Africa-based PaySpace

Deel is on an acquisition march. On Tuesday, the HR startup announced it is acquiring African-based payroll and HR software and services company PaySpace in a deal that marks its largest acquisition to date.

Source: Tech Crunch


dKilo secures US$3.2mn seed funding from Upturn Ventures

Egypt-based street-level adtech company dKilo has secured $3.2 million seed funding, in a mix of equity and debt, from Upturn Ventures.

Source: Africa Private Equity News

MDaaS Global secures US$3mn pre-series a funding for Nigerian health tech expansion

MDaaS Global, a Nigerian health tech company that operates a network of tech-enabled diagnostic centers across the country, has secured $3 million in pre-Series A funding

Source: TechCrunch

MoneyHash raises US$4.5mn in seed round

MoneyHash, a payment orchestration platform in the Middle East and Africa (MEA), has raised $4.5 million in a seed funding round. The round was co-led by COTU Ventures and Sukna Ventures, with participation from RZM Investment, Dubai Future District Fund, VentureFriends, and a group of strategic investors and operators.

Source: Africa Private Equity News


Medu Capital Fund III exit from Jacana Capital

South African private equity firm Medu Capital has announced that its Medu Capital Fund III has completed its exit from Jacana Capital, an insurance brokerage firm.

Source: Africa Private Equity News

Namibia Infrastructure Development Fund (NIDIF) invests in student accommodation

Eos Capital, through the Namibia Infrastructure Development and Investment Fund (NIDIF), has invested in StudentStay, a developer of two student accommodation buildings with a combined 752-bed capacity at the doorstep of the Namibia University of Science and Technology (NUST).

Source: Africa Private Equity News

Partech Africa II closes €280mn fund

Partech, the global technology investment firm, has announced the final closing of its second Africa fund, Partech Africa II, at a hard cap of €280 million.

Source: Africa Private Equity News


Simera Sense secures €13.5mn investment from Knife Capital and NewSpace Capital

Simera Sense, a provider of end-to-end optical solutions for the small satellite Earth observation industry, has raised €13.5 million from Knife Capital and NewSpace Capital. The company was launched in South Africa and is now headquartered in Belgium.

Source: Africa Private Equity News