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August 16, 2022
Africa: Techcrunch+ Roundup - Usage-Based Billing, Web3 Fundraising, Serena Williams' Next Act
Netflix lost almost a million subscribers in the last quarter, and the streaming giant expects to shed hundreds of thousands more this year. Read more »
August 14, 2022
Africa: Why More Fintechs May Be Going the Debt Financing Route
Welcome to The Interchange! If you received this in your inbox, thank you for signing up and your vote of confidence. If you're reading this as a post on our site, sign up here so… Read more »
August 10, 2022
Africa: Jumia Shares Rise As the Company's E-Commerce Business Revs Up in Q2
African e-commerce giant Jumia reported its second-quarter financial performance today. In the wake of its financial reporting this morning, Jumia's shares climbed sharply, gaining… Read more »
August 05, 2022
Africa: Beacon Power Services Raises $2.7m to Improve Electricity Access for Sub-Saharan African Cities
Sub-Saharan Africa's share of the global population without access to electricity stood at 77% in 2020, according to reports. Also, the average daily electricity supply in some of… Read more »
August 02, 2022
Africa: Identity Verification Company Youverify Extends Seed Funding to U.S.$2.5 Million
This past month has seen several African fintechs such as Flutterwave and Union54 make headlines for compliance checks and fraud issues. Both unlinked events re-emphasize the… Read more »
August 01, 2022
Africa: Oui Capital, a Pan-African Early-Stage VC Firm, Hits First Close of Its U.S.$30 Million Second Fund
Oui Capital, an Africa-focused VC firm based in Lagos and Massachusetts, announced today that it has completed the first closing of its $30 million second fund, Oui Capital Mentors… Read more »
July 27, 2022
Africa: As Africa's Digital Economy Grows, Expensive Internet Hinders Investor Activity in Some Countries
A new report detailing the cost of mobile data in different markets across the world, bears the evidence of why internet use in most of Africa remains low despite the growing… Read more »
July 22, 2022
Africa: Techstars CEO Maëlle Gavet Outlines the Accelerator's Newest Program in Africa
In April, startup accelerator Techstars, in partnership with ARM Labs, a Lagos-based innovation program focusing on fintech startups, announced the launch of ARM Labs Lagos… Read more »
July 19, 2022
Africa: AfricInvest and Cathay Innovation Reach Final Close of Pan-African Fund
Cathay AfricInvest Innovation Fund (CAIF), a Pan-African fund launched via a partnership between AfricInvest, a multi-asset investment platform in Africa and Cathay Innovation, a… Read more »
July 18, 2022
Africa: African Fintechs Halt Virtual Dollar Cards After Union54 Chargeback Fraud Surge
Last Friday, Barter, the consumer app of Africa's most valued startup Flutterwave, told customers via email that they would not be able to access its virtual dollar card service… Read more »
July 13, 2022
Africa: Persistent Energy Raises U.S.$10 Million to Grow Its Clean-Tech Venture Building Business in Africa
Persistent Energy has raised $10 million in Series C funding to grow its climate venture building business in Africa, in a round led by Kyuden International Corporation, a… Read more »
Africa: Mr Eazi, Black Coffee and Ajebutter22 - The Music Artists Backing Startups
African music artists are using personal funds and collectives to invest in startups. Soon, they might launch funds Read more »
Africa: Wave, a Stripe-Backed African Fintech Valued At U.S.$1.7 Billion, Cut 15% of Its Staff in June
Wave, an African fintech that offers mobile money services in Senegal and Ivory Coast, laid off about 15% of its workforce last month. TechCrunch first got a whiff of the layoff… Read more »
Africa: African Leadership Group Acquires Coding School Holberton
Coding school Holberton today announced that it has entered into an agreement to be acquired by African Leadership Group (ALG). The seven-year-old company, with physical schools… Read more »
Africa: Africa-Focused Fintech Zazuu Raises U.S.$2 Million to Scale Its Cross-Border Payment Marketplace
The remittance inflows to sub-Saharan Africa over the past decade have been on an upward trajectory since 2020; last year, it increased by more than 6% to $45 billion. However, the… Read more »
July 06, 2022
Africa: Autochek Acquires CoinAfrique to Grow Its Footprint in Francophone Africa
Automotive e-commerce company Autochek has expanded to new markets in Africa after acquiring CoinAfrique, a classified ad marketplace, nearly two months after the Nigerian startup… Read more »
June 30, 2022
Africa: A Look Into the British DFI's Plan to Invest in African Economies, Venture Funds and Tech Startups
British International Investment wants to invest $6 billion in Africa over five years Read more »
Africa: Sava, a Spend Management Platform for African Businesses, Gets U.S.$2 Million Pre-Seed Backing
When Yoeal Haile started Aspira, a lending service, in 2017, he wanted to give Kenyans more choice about buying stuff on credit. The business eventually grew to a point where it… Read more »
June 29, 2022
Africa: Venture Studio Adanian Labs Fuels Startup Growth in Africa
Founded during tumultuous COVID period, Adanian Labs is out to accelerate growth of 300 African startups over the next five years Read more »
June 27, 2022
Africa: Tlcom Capital Appoints Eloho Omame As Partner to Back More Pre-Seed and Women-Led Startups
Africa-focused venture capital firm TLcom Capital has appointed Eloho Omame as a partner six months after announcing the first close of TIDE Africa Fund II, its $150 million second… Read more »
June 21, 2022
Africa: Kibo School Gets U.S.$2 Million to Offer Online STEM Degrees to Students in Africa
When she was 10 years old, Ope Bukola's family relocated from Nigeria to the U.S., where she advanced her studies to later pursue a degree in economics. Exposed to the… Read more »
June 22, 2022
Africa: Zenysis Raises U.S.$13.3 Million to Scale Its Big Data Platform for Emergencies
Zenysis Technologies, a big data startup headquartered in San Francisco and Cape Town, announced today that it has closed $13.3 million in a Series B round. The financing was led… Read more »
June 20, 2022
Africa: Afropolitan Raises Millions From Balaji Srinivasan and Others to Build a Digital Nation
What would a digital country for Africans and the diaspora look like? Afropolitan has some answers Read more »
Africa: Ransomware Ring Claims Attack On Continent's Largest Retail Chain Shoprite
RansomHouse, a ransomware gang, has claimed responsibility for the cyberattack on Shoprite, Africa's largest retailer. Read more »
June 16, 2022
Africa: Crossboundary Gets U.S.$25 Million for Solar Mini-Grids in Africa
Kenya-based Crossboundary Energy Access (CBEA), a mini-grid infrastructure fund, has raised $25 million from ARCH Emerging Markets Partners Limited, Bank of America, and Microsoft… Read more »
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