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Welcome to another edition of 🔍 Startup Researcher - Africa, your essential digest delivering the latest news and premium insights on startups and venture capital across the region 🌍
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📰 Important News
- Norrsken Impact/100 2025 featured 11 African startups, highlighting the continent’s growing strength in fintech, climate, and data innovation.
- Nigerian lender Lidya shut down after nearly a decade, marking a major fintech collapse and leaving customers with frozen funds and uncertainty.
- Businessfront, parent of Techpoint Africa, implemented targeted staff cuts amid declining ad revenue and industry headwinds.
- South Africa’s TymeBank will rebrand to GoTyme in 2026 to unify its global digital banking presence.
- Wave Mobile Money registered WAVE BANK AFRICA in Côte d’Ivoire with $35 million in capital to pivot from payments to banking.
💸 Top Funding Rounds
- Spiro secured $100 million led by FEDA to expand Africa’s largest battery-swapping network and scale electric two-wheeler mobility sustainably.
- Moniepoint raised $90 million to complete its $200 million Series C, fueling pan-African expansion, U.K. remittances, and new fintech products.
- Malengo received $12.9 million from The Shapiro Foundation to expand East African youth education pathways and access to European programs.
- Yaga secured $4.64 million in pre-Series A funding to grow its resale marketplace in South Africa and MENA while advancing circular fashion.
- Locstat raised $2.9 million in pre-Series A funding to scale its AI platform for analytics, fraud detection, and compliance across the U.K. and the EU.
💰️ Notable Exits
- Global Shop Group acquired ANKA (formerly Afrikrea) to scale African fashion globally, leveraging ANKA’s SaaS platform, payments, and logistics for the diaspora and local markets.
- BasharSoft fully acquired iCareer to form Egypt’s largest integrated employment group, combining digital platforms, AI-driven hiring, and employability programs across MEA.
🏦 About Investors
- Enko Capital closed a $100 million first tranche for its private credit fund targeting mid-market African companies, backed by BII, IFC, and regional investors to bridge financing gaps.
🚀Startup of the Week
Introducing our Startup of the Week 🏆
MNT-Halan
Founded in 2018 in Egypt by Mounir Nakhla and Ahmed Mohsen, MNT-Halan has evolved from a local fintech startup into a regional unicorn serving millions of underbanked and unbanked users across Africa and the Middle East. With over 10,000 employees, the company offers a comprehensive digital ecosystem combining microfinance, consumer and SME lending, BNPL, digital wallets, Visa cards, and an e-commerce marketplace. Backed by investors including Chimera Abu Dhabi, IFC, and Lorax Capital Partners, MNT-Halan recently raised $71.4 million through a securitized bond and launched Egypt’s first fully digital secured lending product by a non-bank institution. Guided by its founders, the company continues to expand regionally while driving financial inclusion through technology and innovation.
💼 Investor of the Week
Introducing our Investor of the Week 🏆
Knife Capital
Founded in 2010 in Cape Town, Knife Capital is a South African venture capital firm backing high-growth B2B tech companies across enterprise software, deeptech, healthcare, edtech, and fintech. Managing funds including KNF Ventures and a $50 million growth vehicle, it deploys checks from $600,000 to $8 million with follow-on capacity, focusing on South Africa and selective pan-African opportunities. Its portfolio includes DataProphet, Snapplify, InQuba, and Kandua, with exits like Fundamo to Visa and orderTalk to Uber Eats. Recent highlights include Quicket’s acquisition by Ticketmaster and Simera Sense’s $13.5 million round. Led by co-founders Keet van Zyl and Eben van Heerden, Knife Capital connects local traction to cross-border growth, supporting scalable, impact-driven B2B innovators.
🤑Opportunity Radar
Call for Applications: The WSA Young Innovators Award 2025
WSA Young Innovators Award 2025 is now open for applications until October 31, 2025. The global program, organized by the World Summit Awards (WSA), recognizes under-26 digital creators developing impactful solutions aligned with the UN Sustainable Development Goals. Winners gain access to international exposure, mentorship, and a chance to pitch at the WSA Global Congress. Open to early-stage founders, students, and innovators from all UN and UNESCO member states. Apply now to showcase your digital solution on a global stage.
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