Three years ago, when electric mobility was still an experimental idea in much of Africa, Japanese entrepreneur Yuma Sasaki made an unconventional choice.
The startup specializes in providing advanced AI software designed to enhance financial decision-making processes, including credit scoring, cross-selling, dynamic pricing, and electronic Know Your Customer/Business (eKYC/eKYB) procedures.
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."
Three years ago, when electric mobility was still an experimental idea in much of Africa, Japanese entrepreneur Yuma Sasaki made an unconventional choice.
A circular issued recently by the CBE expands the legal definition of "financial companies" to include fintech startups, money transfer operators, and SME lenders.
"Growth is outpacing the structures built to hold it. The answer is not more stores, it is a better middle layer." - Larry Hodes, CEO Grow Franchising & FASA Board Member, writes from Johannesburg.
