Issue #25: Africa’s Weekly Funding Review

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:

QED led a $50 million investment in TeamApt
DataProphet closed a $10 million Series A funding round
OneOrder secured a $6.5 million working capital facility
Convertedin raised a $3 million seed round

+ MORE!

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Funding

TeamApt, a Nigerian fintech company that develops digital banking and payment platform for financial transactions, received over $50 million in investment from QED, a U.S. fintech-focused venture capital firm. Other investors participating in the round include Novastar Ventures, Lightrock and BII.

DataProphet, a South African startup that provides AI-as-a-service software in the manufacturing sector, closed a $10 million Series A funding round led by Knife Capital, with IDC and Norican also participating in the round.

Zeepay Company Limited, a Ghanian cross-border payments company, raised $10 million in debt financing led by Symbiotics BV.

OneOrder, an Egyptian B2B e-commerce startup that provides food supplies to hotels, restaurants and cafes, secured a $6.5 million capital facility from Contact Factoring.

ConvertedIn, an Egyptian ad automation platform for ecommerce businesses using AI, raised a $3 million seed funding round led by Merak Capital, with participation from 500 Global and MSAS.

Sharwa, an Egyptian social e-commerce platform that offers the most affordable & quality household essentials to the masses via a gamified group buying experience, raised a $2 million pre-seed round co-led by Nuwa Capital and Hambro Perks Oryx Fund and other investors.

SociumJob, a Senegalese platform that connects African companies to local talents and those from the diaspora, raised 1 million euros in its first financing round from Breega, Evolem, Kima Ventures, Techmind, Teranga Capital, and other angel investors.

FinAccess, a Kenyan fintech startup building tools to digitise Savings and Credit Cooperative Organisations (SACCOs) and farming cooperatives in the East Africa region, raised $500,000 in funding from HAVAÍC. (Barclay Paul Okari)

Tripesa, a Ugandan startup automating and linking the tourism value chain in Africa by building a Payments first Business Process Management solution specific to the sector, raised an undisclosed pre-seed funding round.

Droppa, a South African logistics startup that makes it convenient and safer to transport your parcels, goods and furniture using their easy-to-use mobile app and interactive booking system, raised an undisclosed Series A funding round led by SkyNet Worldwide Express.

Bonbell, an Egyptian startup specialising in food ordering and digital solutions for table and meal reservations, closed an initial funding round for $350,000 through a Canadian Angel investor.

SodaWorld, an African startup that enables artists to earn revenue from within the Metaverse, secured investment from CV VC, a Swiss Venture Capital.

FaidiHR, a Kenyan payroll and HR startup that help businesses in Africa automate their manual and payroll processes, raised an undisclosed amount of funding from Sprintx.