People & MoneyStartups

Funding Opportunities for African Businesses (with GFA) June 8

  1. Nigerian farmer financing platform Crop2Cash

Crop2cash is a digital finance platform that provides creditworthy farmers in Nigeria with growth capital and other agricultural resources like mechanization, seeds and chemicals. The platform enables farmers to make transactions from any bank in Nigeria. Thousands of farmers across the nation have registered on the platform. Read more.

2.   Jahez successfully closes US$36M Series A funding round, led by Impact46 in Saudi Arabia

Jahez, a Saudi platform that specializes in online food service delivery has raised its first venture capital funding led by an asset management and advisory company, Impact46. Read more.

3.   Nigerian startup Jamborow raises $400k for blockchain-based fintech platform

The shareholders of Jamborow, Africa’s first Business-to-Business AI and Blockchain driven fintech have raised $400,000 for its expansion. This will enable the start-up to kickstart in Nigeria and provide services to the unbanked. Read more.

4.   Ghana Tech Lab calls for applications for its Africa AI Accelerator

The call for applications is on for the first cohort of Africa AI Acceleration programme sponsored by Ghana Tech Lab (GTL) in partnership with Gesellschaft für Internationale Zusammenarbeit (GIZ)  and International Business Machines (IBM). The programme aims to promote local innovations in the field of artificial intelligence, machine learning and data usage. The first cohort will support 10 AI start-ups from South Africa, Rwanda and Uganda. Applications close by 25th of June. Read more.

5.   SA cashless payment platform Sticitt lands R3m from new VC

Sticitt, a South African cashless payment platform has secured a R3million Investment from a new venture capital company named Crucis VC. This Investment is the first external funding obtained by Sticitt. Read more.

6.   Benin Business Angel Network invests US$16K in Ylomi

Benin Business Angel Network (BBAN) has invested US$16,600 in Ylomi, an online service that connects professionals with individuals and SMEs to enhance the growth of the company. BBAN is a network of entrepreneurs based in Benin and the diaspora, that helps SMEs in terms of business connections, credit facilities and guidance. Read more.

7.   African Neobank, Eversend exceeds target of €550,000 in Seedrs crowdfunding campaign.

Eversend’s €550,000 crowdfunding target sought through Seedrs (Europe’s largest equity platform) has been surpassed. Eversend is an African neobank currently operating in Uganda, Kenya and Ghana. Read more.

8.   SA founded water drone startup Ranmarine Technology lands Series-A investment

Netherland-based cleantech company, RanMarine Technology gets its first venture capital funding from Boundary Holding, a European Investor. The funding quantity was not revealed though it was described as ‘major”  by RanMarine’s CEO, Richard Hardiman. Read more.

9.   Nigeria: Sanlam Emerging Markets acquires full stake in FBN Insurance

FBN Insurance and its subsidiary, FBN General Insurance have been fully acquired by South African Insurance group, Sanlam. Financial details of the sale have not been revealed. Read more.

10. South Africa: Spear Capital invests R100mln in RunwaySale

RunwaySale, the biggest South African fashion e-tailer has secured $5.7 million funding from Spear Capital, a private equity firm to enhance its operations locally and probably beyond. Spear Capital supplies growth capital to SMEs that focus on fast moving consumer foods and local production in Southern Africa. Read more.

11.  (Apply) Marine Institute Cullen Scholarship programme

A PhD scholarship program for students in the field of marine sciences and other related disciplines. The deadline for proposal submission is  Tuesday, 7th of July 2020 by 16.00. Read more.  

  1. (Apply) The GoGettaz Agripreneur Prize

Two US$50,000 cash prices for SMEs in agribusiness are for grabs in the GoGettaz Agripreneur Prize. Eligibility criteria for application are submission on/before deadline 23h59 (CAT) on June 1, applicants must be 18-35 on the day of submission, and police clearance certificates. Selection criteria are Innovation, nature of the market, business model, impact, team. Read more.

  1. DHL Expands Footnote in Africa, Acquires Stake in Link Commerce

Global logistics firm, DHL has acquired minority in Link Commerce (a UK based company behind brands and powering globally eCommerce platforms like MallforAfrica, DHL Africa eShop etc. Read more.

  1. GoBear accelerates its transformation to become Asia’s leading financial services platform with US$17million fundraised

The Singapore-based financial platform, GoBear has raised US$17million in fifth funding. Backers included existing investors like Walvis Participaties and Aegon N.V. GoBear isone of the fastest growing  website for insurance and financial products in Asia. Read more.

  1. (APPLY ) UNECA COVID-19 innovation challenge

Researchers, firms, public& private development agencies are invited by United Nations Economic Commission for Africa and its partners to showcase innovation and Investment Forum 2020 with a focus on Covid-19 from 15-19 June 2020. Read more.

GFA’S BUSINESS JOURNEY: PITCHING TO WIN

Pitching is necessary in raising funds for start-ups. Summing up one’s business idea in a concise manner helps in attracting investments from venture capitalists. The process of making an exceptionally good pitch involves the following: understanding what makes a compelling pitch, focus on a large opportunity in a growth market, timing the telling of the pitch. Read more.

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