This week saw a diverse array of funding rounds across several sectors, showcasing the vibrancy and growth potential of the African startup ecosystem. From fintech to health tech and energy management, startups are continuing to attract significant investments to scale their innovative solutions across the continent.
Notable Funding Rounds:
1. FIDO (Sep 9, 2024)
Ghana’s digital lender, Fido, raised $30 million in a Series B funding round led by Fortissimo Capital with participation from Yard Ventures. The funds will be used to expand its product offering beyond credit into savings and payments, and to accelerate its expansion into other African markets. Fido’s AI-powered platform provides instant credit to consumers and micro-entrepreneurs without requiring collateral, contributing to enhanced financial inclusion across the continent
2. KASHA (Sep 10,2024)
A Rwandan digital health access startup raised an undisclosed amount to expand its operations across Africa, focusing on digital health solutions that target women’s health and wellness.
3. REBYX (Sep 11,2024)
The Senegalese fintech startup secured €400,000 in loan financing, aimed at revolutionizing algorithmic lending for African startups and SMEs, improving access to financial services in underserved markets.
4. CHPTER (Sep 9,2024)
This Kenyan social commerce startup raised $1.2 million in pre-seed funding, which will be used to revolutionize the online shopping experience in Kenya, emphasizing connected and streamlined social commerce.
5. CERCLI (Sep 11,2024)
A Tunisian energy management startup secured $4 million in seed funding to transform workforce management across the Middle East and North Africa (MENA) region, focusing on efficiency and sustainability solutions.
These funding rounds reflect growing investor confidence in Africa’s tech and startup sectors, particularly in fintech, health tech, and energy management. As startups continue to innovate and scale their solutions, the ecosystem is set to attract even more investment in the coming months.
Stay tuned for more updates as we continue to monitor the latest developments in African startup funding.
