Uber Africa launches Uber Cash with Flutterwave and explores EVs – TechCrunch

[ad_1] Uber is launching its Uber Cash digital wallet feature in Sub-Saharan Africa through a partnership with San Francisco based — Nigerian founded — fintech firm Flutterwave. The arrangement will allow riders to top up Uber wallets using the dozens of remittance partners active on Flutterwave’s Pan-African network. Flutterwave operates as a B2B payments gateway…

The Sun Exchange raises $3M for crypto driven solar power in Africa – TechCrunch

[ad_1] South Africa based renewable energy startup Sun Exchange has raised $3 million to close its Series A funding round totaling $4 million. The company operates a peer-to-peer, crypto enabled business that allows individuals anywhere in the world to invest in solar infrastructure in Africa. How’s that all work? “You as an individual are selling…

Halal fintech startup Wahed closes $25M led by Saudi Aramco’s investment arm – TechCrunch

[ad_1] New York-based fintech startup Wahed (meaning ‘One’ in Arabic) describes itself as a digital Islamic investment platform and as the world’s first ‘halal robo adviser’. It’s now closed a $25 million investment round led by Saudi Aramco Entrepreneurship Ventures (also known as Wa’ed Ventures), a venture capital investment arm of oil giant Saudi Aramco. Existing…

Kenya’s Apollo Agriculture raises $6M Series A led by Anthemis – TechCrunch

[ad_1] Apollo Agriculture believes it can attain profits by helping Kenya’s smallholder farmers maximize theirs. That’s the mission of the Nairobi based startup that raised $6 million in Series A funding led by Anthemis. Founded in 2016, Apollo Agriculture offers a mobile based product suit for farmers that includes working capital, data analysis for higher…

Novastar Ventures becomes $200M African VC fund after $108M raise – TechCrunch

[ad_1] African startups have another $100 million in VC to pitch for after Novastar Ventures’ latest raise. The Nairobi and Lagos based investment group announced it has closed $108 million in new commitments to launch its Africa Fund II, which brings Novastar’s total capital to $200 million. With the additional resources, the firm plans to…

Nigeria’s Helium Health raises $10M Series A for Africa expansion – TechCrunch

[ad_1] Nigerian startup Helium Health sits in a good position during a difficult period, according to its co-founder. The Lagos based healthtech venture is in the black, has batted away acquisition offers, and just raised a $10 million Series A round, CEO Adegoke Olubusi told . The startup offers a product suit that digitizes data,…

Andela CEO confirms staff cuts as layoffs hit African tech – TechCrunch

[ad_1] Africa-focused tech talent accelerator Andela has let go 135 employees, CEO Jeremy Johnson confirmed to . Senior staff at the company — with offices in New York and five African countries — will also take salary cuts of 10% to 30%. The compensation and staff reductions are a result of the economic impact of…

Visa connects to M-Pesa, Flutterwave enters e-commerce – TechCrunch

[ad_1] It seems the demand for Safaricom’s M-Pesa payment product never eases. Since its 2007 launch in Kenya, the fintech app has commanded over 70% of the mobile money market in that country. When COVID-19 hit the East African nation of 53 million in March, the Kenyan Central Bank turned to M-Pesa as a public…

Goldman backed ventures Jumia and Twiga partner on produce in Kenya – TechCrunch

[ad_1] Pan-African e-commerce company Jumia and B2B agtech startup Twiga Foods are partnering to deliver produce in Kenya using adaptive measures during COVID-19. In 2019, Jumia became the first VC funded tech company in Africa to list on a major exchange, the NYSE. Based in Nairobi, Twiga raised a $30 million Series B round in…

In Nigeria PalmPay waives fees and creates ₦100M COVID-19 payout fund – TechCrunch

[ad_1] Africa focused payment startup PalmPay will waive transfer fees in Nigeria and offer direct payouts to customers who have contracted COVID-19 in the West African country. The venture — that launched in 2019 backed by China’s Transsion —  has created the PalmPay Support Fund. The initiative will start with 100 million Naira (≈ $300K)…