Early-stage startups will receive a $50K grant and growth-stage startups will receive a $225K grant to unlock major partnerships that can expand patient access across the continent.
“This investment is part of the Choose Africa initiative, which Proparco launched to support SMEs and startups across Africa,” said Jérémie Ceyrac, Proparco’s Investment Director.
Accrue’s agent network model mirrors the approach of established mobile money platforms like MPesa and Moniepoint, which have played a transformative role in financial inclusion across Africa.
The latest funding contributions are part of Egypt’s broader “Fund of Funds” initiative, which has ambitious plans to secure up to $1 billion in funding.
“The extension of our strategic partnership reaffirms our shared commitment to creating a more sustainable and prosperous future for Africa,” said USTDA Director.
This change effectively acknowledges that smaller transactions, previously subject to the same level of scrutiny as larger ones, were overburdening both regulators and investors.
In July 2022, CrossBoundary Energy announced the completion of a US$40 million equity investment from Norfund and KLP, Norway’s largest pension company.
The payments platform attracts Standard Chartered and Sony as it pushes into Latin America and Asia-Pacific, even as regulatory friction persists in some of its core markets.
