September Industry News

26 Sep 2022

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

Bboxx acquires PEG Africa

Tuesday 6th September 2022 – Bboxx is cementing its status as the leading super platform for life-changing products and services on the African continent by joining forces with PEG Africa, one of the largest providers of distributed energy in West Africa and one of the continent’s fastest-growing companies.

Source: Bboxx

Burkina Faso impact investor announces two new deals

The UK-based private equity firm Apis Partners said Wednesday its maiden fund, Apis Growth Fund I, has entered into an agreement to sell its ...

Source: The Capital Quest 

Egypt's Carzami raises pre-seed funding

Egyptian startup Carzami, an online retailer for quality used cars and vehicle financing, has cloed a pre-seed round led by Contact Financial Holding, together with a scalable inventory financing facility, which it plans to use to transform Egypt's used car market, targeting US$30 million in revenue by 2024.

Source: Disrupt Africa

First close for Egypt's Endure Capital Fund

Egyptian VC firm Endure Capital has announced it has completed the first close of its new US$50 million fund to invest in early-stage startups across the African continent. Launched in 2015 by serial entrepreneur Tarek Fahim, Endure Capital has established itself as one of the leading VC firms in the region.

Source: Disrupt Africa

Grey raises US$2mn to simplify cross-border payments across Africa 

Grey raises US$2 million to simplify cross-border payments across Africa. Grey, a FinTech started to simplify sending and receiving foreign payments for Africans, has raised US$2 million in seed funding.

Source: Intelligent CIO

Janngo Capital reaches first close

New-York, September 12, 2022 – At the eve of the 77th Session of the UN General Assembly (UNGA), Janngo Capital Startup Fund (JCSF) has announced its first close at EUR34 million (approximately US$36 million) in capital commitments.

Source: Janngo

Knife Capital backs African gym management platform 

South African gym management software platform Octiv has closed an eight-figure Series A funding round led by venture capital firm Knife Capital. The startup previously raised seed capital from South African angel investors and this round also included an angel investment from an executive at the crypto-powered banking platform BVNK.

Source: TechCabal

Moroccan-based UM6P Ventures backs De Novo Dairy 

Rabat - UM6P Ventures, a venture capital firm affiliated with Mohammed VI Polytechnic University (UM6P), has completed its investment in De Novo Dairy, Africa’s first producer of animal-free and sustainable proteins.

Source: Morocco World News

mPharma acquires stake in HealthPlus

mPharma, Africa’s leading patient-centered technology-driven healthcare company, has acquired the majority stake in HealthPlus, the leading pharmacy chain in Nigeria. mPharma and the former investor, Alta Semper, have signed an agreement leading to the acquisition of a majority stake in the HealthPlus Group.

Source: Premium Times

Nigerian B2B payments company raises US$4mn

Duplo, a Nigerian business-to-business payment platform that digitises payment flows. Founded in 2021 by Yele Oyekola and Tunde Akinnuwa, the company recently announced that it has raised $4.3 million in seed funding to launch new products and expand into new business verticals in Nigeria.

Source: TechCabal

Nigeria's Kippa raises US$8.4mn

Kippa, the Nigerian startup improving the lifecycle of small businesses across the country with its financial management and payments platform, has raised $8.4 million in an oversubscribed seed round.

Source: TechCrunch

Pezesha raises US$11mn funding

Kenya's embedded finance fintech Pezesha has raised US$11mn in funding, led by the second gender-lens investment fund from nonprofit Women's World Banking. African embedded finance fintech Pezesha has raised US$11mn in a pre-Series A funding round led by Women’s World Banking Capital Partners.

Source: Fintech Magazine

Sanari Capital announces first close for new fund

Sanari Capital Announces the First Closure of Its New Fund for $27.4 Million. A statement from Sanari Capital, the South African private investment company, says that the first closing of the Sanari 3S Growth Fund was for $27.4 million.

Source: TechPression

Shell backed fun invests in Nigerian battery-sharing platform

All On, a Shell-funded independent impact investing firm, has announced that it has invested £1 million in Mobile Power Limited, to increase the growth of its Pay-per-use battery sharing platform in Nigeria.

Source: TechCabal

STOA invests in renewable energy company 

On 1st September, STOA impact fund and candi solar, a clean energy company providing solar power to commercial and industrial customers, announced the closing of the series B fundraising of the company. STOA’s investment will allow candi solar to finance new solar projects in India and Africa, particularly South Africa, with the aim to reach 800 MWp of solar capacity installed by 2028.

Source: Caisse des Dépôts

Yellow Card secures US$40mn in funding

Pan-African cryptocurrency exchange Yellow Card Financial has announced the close of its US$40 million Series B funding round, which will enable the company to drive exponential business growth, continue its expansion across the continent, develop new products, and advance strategic partnerships.

Source: Disrupt Africa