TLcom Capital led a USD5.5m seed round for Pastel, a Nigeria-based business management platform for SMEs, with participation from Global Founders Capital, DFS Labs, Ulu Ventures, Plug and Play, Golden Palm Investments and Soma Capital. Read more… Read More
QED Investors and Novastar Ventures led a ~USD50m round for Nigeria-based fintech TeamApt, with follow-on from Lightrock and BII. Read more here and here… Read More
Zeepay, a Ghana-based cross-border payments company, raised USD10m in debt financing from Verdant Capital. Read more here, here and here… Read More
Merak Capital led a USD3m seed round for Convertedin, an Egypt-based advertising automation platform for e-commerce, with participation from 500 Global and MSAS. Read more… Read More
Knife Capital led a USD10m Series A for DataProphet, a South Africa manufacturing optimization platform, with participation from IDC and Norican. Read more here and here… Read More
Apis Partners, through its fund Apis Growth Fund I, has agreed to exit its 11.7% stake in Retail Capital, a South Africa-based fintech that provides SME financing, to TymeBank, another Apis Partners portfolio company, for an undisclosed amount. Read more… Read More
Oui Capital reached a ~USD11m first close for its second fund Mentors Fund II. The vehicle focuses on pan-Africa pre-seed- and seed-stage startups and has a target of USD30m. Read more… Read More
Egypt-based furniture and home goods e-commerce platform Homzmart raised a USD23m pre-Series B from STV and existing investors Impact46, Outliers Ventures, Rise Capital and NUWA Capital. The startup raised USD17m in a Series Alast year. Read more… Read More
AfricInvest through its funds AfricInvest II and AfricInvest Financial Sector Fund exited Bridge Group West Africa, a Cote d’Ivoire-based financial services holding company controlled by Teyliom International Group, for an undisclosed amount. AfricInvest acquired a 30% stake in the company in March 2014. Read more here. Read More
Genser Energy, a Ghana-based natural gas independent power producer, closed an eight-year USD425m financing package consisting of a USD325m syndicated senior loan facility and a USD100m mezzanine loan. Standard Bank of South Africa, Absa Bank, Société Générale, Mauritius Commercial Bank, Ninety One, Barak Fund and the Development Bank of Southern… Read More
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