Zeelo, a US-based company that launched its South African operations in 2019, has decided to exit the market to focus on its core markets in the US, UK, and Ireland.

The company’s PayGo model allows customers to pay for solar products in installments using mobile money.

To qualify, entrepreneur must have a significant ownership stake (at least 10%) in a U.S.-based startup that was formed within the last five years.

The funding round was led by a consortium of high-net-worth individuals and investors, including CrossBoundary, Redshaw Advisors, and existing investor, the Steyn Group.

Konnect Networks, a leading payment solution provider in North Africa, offers businesses of all sizes a simple and intuitive platform to accept a variety of payment methods.

ValU CEO Walid Hassouna reported that 55,000 cards have been activated, processing 250,000 transactions worth approximately 400 million Egyptian pounds ($8.3 million USD)

The firm’s impressive track record includes four successful exits since its inception in 2018.

The company employs an omnichannel approach, combining a robust online platform with partnerships with leading retailers to ensure visibility, trust, and product availability. This hybrid strategy is crucial for success in the African beauty market.

Each selected company will receive a $200,000 investment.

"Securing funding from these US investors is a vote of confidence in our business model, which has already processed more than R50 million in transactions..."

Solarbox, founded in 2022 by Tijan Watt, offers an integrated solution encompassing solar energy generation, locally assembled utility electric vehicles (2–3 wheelers), and comprehensive system management software

Yassir’s expansion in Morocco is part of a broader continental growth strategy, supported by a successful Series B funding round that raised $150 million in 2022