Cartona’s asset-light approach has allowed them to scale rapidly, as evidenced by their annualized gross merchandise volume (GMV) increasing from EGP 2.3 billion ($120 million) in 2022 to EGP 10 billion ($210 million) currently. This scalability is appealing to investors seeking high-growth potential.
Previously focused on the United States, Canada, and the United Kingdom, LemFi now allows users to send money to family and friends in Brazil and Mexico, with plans to expand to additional countries soon.
The funding will be used to solidify Educatly’s presence in key markets across the Middle East and Africa, including Egypt, Saudi Arabia, the United Arab Emirates, Nigeria, Kenya, and Ireland.
Enygma Ventures, known for its focus on investing in women-led businesses in Africa, has found success in Zambia through its investments in both PremierCredit and Lupiya, from which it exited in February 2024 after the company repaid its outstanding debt.
Offering financial support of up to USD2 million, alongside strategic guidance throughout the investment cycle, this program acts as a catalyst for success for innovative companies in the industrial and service sectors.
Following this acquisition, Tam Finans’ existing owners, Actera Group and the European Bank for Reconstruction and Development (EBRD), have become shareholders in MNT-Halan.
"As an immigrant from Pakistan myself, I have a lot of empathy for international founders and sincerely apologize to the founders impacted by this decision."
This regulatory shift comes in the wake of a global SPAC slowdown, with many SPACs facing challenges in identifying suitable acquisition targets and completing deals within the stipulated timeframe
The terms of the deal were not disclosed. Quicket will continue to operate as a standalone business under Ticketmaster’s ownership, with James Tagg remaining as Managing Director.
