• Norrsken & TLcom announce big fund closes • Egypt’s Brimore raises $25M USD Series A funding round • InvestTech startup, Bamboo, raises $15M USD to build Africa’s Robinhood • Nestcoin raises $6.45M USD to democratize access to crypto and Web3 AND MORE!
Tanzania – Fintech startup, NALA, raises $10M USD seed funding to continue developing transfers between East Africa and the United Kingdom
Featured Article : In Africa’s booming startup hubs, the founders have become the funders – Yinka Adegoke in Rest of World “[I]nsiders said the real energy is found in early stage ventures, where more local angel investors than ever are taking chances on a new generation of entrepreneurs. Increasingly, those investors are themselves former founders and startup executives.” Continue reading, here.
AFTS partners in the headlines
Long-time AFTS partner, Bamboo, raises $15M USD Series A as the company’s growth is described as “akin to Robinhood” “Bamboo, launched in January 2020, is one such platform in Nigeria. Following two years of significant growth and raising $2.4 million to facilitate it, the investment firm is announcing that it has raised $15 million in a new financing round.” Continue reading, here.
Yele Bademosi’s Nestcoin raises $6.45M USD pre-seed funding to democratize access to economic opportunities in crypto and Web3 “[N]ew technologies such as crypto and web3 provide hope to Africans to play a massive role in defining what it looks like in the years to come. Nestcoin, a company founded last November that builds, operates and invests in web3 applications, wants to be pivotal in this transition and has raised a $6.45 million pre-seed round to that end.” Continue reading, here.
Updates from the AFTS team
New Podcast: This week, Andrew sits down to speak with Ayman Essawy, the Co-Founder and General Manager at Lucky App. Ayman shares some of his thoughts on the North African fintech ecosystem, lessons learned in transitioning from a B2B to B2C focused fintech, and Lucky’s plans for increasing market penetration and expansion. Listen now, here.
The Fintech & Sustainability Roundtable at AFTSCairo tackled a new emerging conversation in the global fintech ecosystem about how financial technology can enable and assist with achieving a more sustainable world. Fintech stakeholders at AFTS Cairo explored the best ways to deploy technology-backed financial solutions to ensure a largescale impact on improving lives and no adverse effects on the environment.
Aaron Fu – Head of Growth, Catalyst Fund
Ruben Walker – Founder & CEO, African Clean Energy