Cyril Shonibare, Principal at TLCOM—one of Africa’s largest early-stage VC funds—sits down with Launch Base Africa to discuss the firm’s deployment strategy, the collapse of open banking pioneer Okra, and hard-won lessons in early-stage African venture capital.
Plus VC, a prominent venture capital firm in the Middle East and North Africa (MENA), led the round, with participation from leading regional and global investors, including Plug and Play, Orbit Startups, Jedar Capital, and other strategic partners.
Furaha’s platform integrates Yabx’s advanced AI capabilities and alternative lending technologies to develop robust credit scoring systems using diverse data sets.
The rebranding also coincides with Binance CEO Changpeng Zhao’s (CZ) departure from the company’s day-to-day operations, a move described by YZi Labs as a “natural progression.”
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.
Cyril Shonibare, Principal at TLCOM—one of Africa’s largest early-stage VC funds—sits down with Launch Base Africa to discuss the firm’s deployment strategy, the collapse of open banking pioneer Okra, and hard-won lessons in early-stage African venture capital.
