This week on Startup Researcher Africa: TymeBank challenges rising national ID fees in South Africa, Flutterwave expands to Cameroon, and Google for Startups unveils its latest AI accelerator cohort. We dive into:
- 00:23 Important News
- 01:24 Top Funding Rounds
- 02:14 Notable Exits
- 02:53 About Investors
- 03:17 Startup of the Week
- 03:43 Investor of the Week
- 04:09 Opportunity Radar
Top Headlines:
- TymeBank (South Africa): The digital bank is set to contest the proposed hike in national ID verification fees, warning it could hinder financial inclusion.
- Flutterwave (Cameroon): The fintech giant launches digital payments in Cameroon after securing a key license, deepening its presence in Francophone Africa.
- Google for Startups (Africa): Fifteen AI-first startups from seven African nations are selected for the latest accelerator, gaining access to mentorship and up to $350,000 in credits.
- Peach Payments (South Africa): A look at the new "Digit Pro" point-of-sale system, integrating buy-now-pay-later (BNPL) for omnichannel retailers.
- Wahu (West Africa): The e-mobility startup rolls out the "Wahu Hero" app, a super app for its electric bike riders.
Funding News:
- Better Auth ($5M Seed): The open-source authentication platform, our featured startup, closes a major seed round led by Peak XV Partners to fuel its growth.
- Complete Farmer ($2.5M): The Ghanaian agritech startup secures EU-backed funding to expand its platform for smallholder farmers.
- Nowlun ($600k): The Egyptian logistics startup scales its AI-powered freight solutions with fresh capital.
- Shoptreo (Undisclosed): Rebel Seed Capital backs the e-commerce platform for artisans.
- Roomz.rent (Pre-Seed): The AI-driven co-living platform for MENA cities attracts pre-seed investment.
Acquisitions & Exits:
- Lesaka Technologies & Bank Zero: Lesaka agrees to a $61.6M deal to acquire the digital bank.
- Amazon & Valu: Amazon takes a 3.95% stake in the Egyptian fintech following its IPO.
- BAS Group & Zuvy: The Nigerian investment group acquires a majority stake in the invoice financing startup.
- Chowdeck & Mira: The delivery platform acquires restaurant tech company Mira to enhance vendor operations.
Investor & Ecosystem News:
- Aria Ventures (Egypt): Our investor in the spotlight, this venture studio launches a $1M program for deep-tech startups.
- Beltone Leasing (Egypt): Secures $20M to boost financing for MSMEs and green projects.
- Northern Light Accelerator (Finland): An opportunity for African startups looking to expand into Europe.
Tune in to get the full story on these developments and more. Whether you're a founder, investor, or just passionate about African tech, this is your essential weekly briefing.