Browsing: Seed funding

• Grey’s expansion in the East African Market follows $2 million seed funding of the West African company.
• Grey CEO AIdorenyin Obong says the Kenya office will help the firm navigate its planned operations across East African Community. 
• The company has also privately launched Grey Business, a borderless business banking for startups. 

Nigerian Fintech startup Grey has picked Kenya as its East African hub as it expands operations into the largest economy in the East African Community. The move follows $2 million seed funding the West African company raised as it eyes Uganda and Rwanda in the near future.

Already, the firm’s platform is live in Tanzania and Kenya with over 300,000 users. Grey CEO AIdorenyin Obong says opening offices in Kenya will help the firm navigate the markets in the East African Community. 

“Kenya’s Diaspora remittance is very vibrant as remittance inflows to Kenya have increased tenfold in the last …

• Flat6Labs was one of the crucial investors that contributed to the $3 billion tech investments in 2022, and it continues to shake Africa’s tech ecosystem.
• Ramez El-Serafy and Dina el-Shenoufy have agreed to invest in more than 160 early-stage startups over the next five years.
• African tech startups received $3 billion in investments in 2022.

Egypt’s startup accelerator company, Flat6Labs, has announced $95 million in VC funding to boost early-stage technology startups in Africa.

Also, Read Young African investor. Sign up for Dream VC fellowship programmes.

This VC funding for tech startups will focus on three promising territories; North, West and East Africa.

Through this initiative, Flat6Labs aims to extend its reach in newer territories such as Nigeria, Ghana, Kenya, Morocco and Senegal. According to Egypt’s startup accelerator, Africa has proven its might within the tech industry producing several revolutionary companies that can change the trajectory of the tech …

In the latest fundraising led by B Capital Group, Flutterwave raised US$250 million, with participation from Alta Park Capital LP, Whale Rock Capital and Lux Capital.

Flutterwave said in an emailed statement on Wednesday. “The investment has enabled the company to become the highest valued African startup,” a Flutterwave email read.

Flutterwave has processed transactions worth more than US$16 million in over 50 million transactions across dozens of countries in Africa, facilitating cross-border transactions in multiple currencies for companies, including Uber Technologies Inc., Booking.com and Alibaba’s Alipay. It has evolved beyond payments products to an online marketplace and a lending channel to small and medium businesses.

With operations from the Nigerian commercial hub of Lagos to Nairobi, Kenya, the San Francisco-based company will continue to grow in East Africa. According to Flutterwave’s software engineer, the company also plans to expand its Francophone African nations such as Senegal and Cameroon.…

Backed up by the capital firm YC, Jabu Technologies has raised $3.2 million in seed funding to invest in its B2B e-commerce and retail operations.
Afore Capital spearheads the seed round with Y Combinator, Quiet Capital, FJ Labs, Pareto Capital, Kli Capital, and angel investors.
The chief executive of JABU, David Akinin, founded the company in 2020 to revamp the poor and almost non-existent distribution network and supply chain in Namibia.…