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    Ecosystem News

    Norfund Backs Nigeria’s OmniRetail in $20M Round — Its First Direct African Startup Investment

    The funding follows significant internal achievements: OmniRetail became EBITDA positive in 2023 and net profitable in 2024, a rare milestone for African B2B commerce startups.
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    Ecosystem News

    What Went Wrong at Edukoya? Nigerian Edtech Closure Raises Market Questions — and Financial Red Flags

    Even in 2022, a year after the purported $3.5 million raise, Edukoya presented a net liability of £353,881.
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    Ecosystem News

    Togo’s Gozem Raises $30M to Fuel Vehicle Financing Across Francophone Africa

    For Morocco’s Al Mada Ventures, investing in a high-growth super-app in Francophone Africa fits its broader financial services strategy.
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    Ecosystem News

    Nigerian Fintech Giant Flutterwave Eyes Lagos IPO as Wall Street  Debut Remains Uncertain

    Experts, however, question if Flutterwave listing on the Nigerian Exchange (NGX) will maximize investor returns.
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    South African Anti-Fraud Startup Orca Secures $2.35M Seed Round to Protect Emerging Market Payment Rails

    The round was led by pan-African venture capital firm Norrsken22, which previously anchored the company’s $550,000 pre-seed round in early 2024.
    Updates

    European VC Newion Leads $2.1M Seed Round for SA Fintech NjiaPay

    The Amsterdam and South Africa-based startup, spun out of communications app Talk360, is bringing European-style payment orchestration to the African mid-market.

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    Western Union and Cassava’s Sasai Target South Africa’s $1bn Outbound Remittance Market

    While the narrative around African remittances often focuses on inflows from Europe and the US, South Africa presents a lucrative inverse opportunity.
    Partner Content

    SolarAfrica Buys Out Its Own Backer in $39m Secondary

    The CESA buyout comes as SolarAfrica is simultaneously executing a broader transition in its business model 

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    Updates

    South African Anti-Fraud Startup Orca Secures $2.35M Seed Round to Protect Emerging Market Payment Rails

    The round was led by pan-African venture capital firm Norrsken22, which previously anchored the company’s $550,000 pre-seed round in early 2024.
    Updates

    European VC Newion Leads $2.1M Seed Round for SA Fintech NjiaPay

    The Amsterdam and South Africa-based startup, spun out of communications app Talk360, is bringing European-style payment orchestration to the African mid-market.
    Ecosystem News

    Algerian Super-App Yassir Buys Uno Hypermarkets to Fill the Jumia-Shaped Hole

    The rumoured unicorn is capitalising on Jumia's recent market exit by merging its digital ecosystem with a brick-and-mortar footprint.
    Updates

    After 14 Years of Bootstrapping, Cybervergent Raises $3M Seed to Scale AI Compliance Platform

    The deal continues a broader trend of Nigerian VCs backing foreign startups or local companies with continental ambitions, as Nigeria’s economy faces mounting macroeconomic challenges.

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