For a startup that once promised to rewire fast-moving consumer goods distribution across southwest Nigeria, the footage has drawn renewed attention to mounting questions about the company’s viability.
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.
“The extension of our strategic partnership reaffirms our shared commitment to creating a more sustainable and prosperous future for Africa,” said USTDA Director.
For a startup that once promised to rewire fast-moving consumer goods distribution across southwest Nigeria, the footage has drawn renewed attention to mounting questions about the company’s viability.
Across 29 disclosed deals, African startups and growth-stage companies raised at least $340.5m in February. The number tells one story. How the money moved tells a different one.
