Startups across the African continent managed to secure half a billion dollars in the third quarter of 2023, so it would be interesting to see what the fourth quarter of the year holds.
Here are the most important startup and venture deals from across the continent that we tracked today, so you don't have to.
- Kenya’s Maisha Meds, a leading digital health organisation that subsidizes quality affordable medicines for rural pharmacists and clinicians to pass to patients, has received $5.25 million in scale-up stage 3 funding from the United States Agency for International Development (USAID) Development Innovation Ventures (DIV).
- Abuja-based Nigerian commodities startup AFEX known for its platform that facilitates efficient commodity trading in Africa, has raised US$26.5 million in funding from British International Investment (BII), the UK’s development finance institution (DFI) and impact investor to support structural improvements in Africa’s agricultural industry
- Tunisian fintech startup My Easy Transfer, which facilitates secure diaspora funds transfers, has raised EUR400,000 (US$420,000) in funding to help speed its growth and expand its offering.
- South African insurtech startup Inclusivity Solutions has raised a $1.5 million Series A extension round to support its pan-African expansion plans. It follows two previous tranches of Series A funding worth almost $3 million.
- MNT-Halan, Egypt's first unicorn and a rapidly growing fintech startup, secured an impressive $130 million through a securitisation. This securitisation marks one of five tranches of bond issuances this year, aggregating over $400 million.
- Pan-African VC firm Novastar Ventures, one of the largest platforms dedicated to financing early and growth stage businesses in Africa, has secured $80 million from SBI Holdings, one of the largest VC groups in Japan. The investment will help to anchor Novastar’s upcoming funds.
- BluePeak Private Capital, an alternative asset manager firm supporting the growth of scalable businesses in Africa through privately negotiated and structured debt-like instruments, has closed its inaugural private capital fund, BluePeak Private Capital Fund SCSp at $156 million.
- Tech growth fund Norrsken22 has closed its first African technology growth fund at $205 million, surpassing its target of $200 million.
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