Norrsken & TLcom make big announcements about new African tech-focused venture funds Norrsken announced the first close ($110M USD) of its new $200M USD Norrsken22 Africa Tech Growth Fund with LP’s including 30 unicorn founders. TLcom also announced the first close ($70M USD) of a $150M USD fund with participation from Allianz and IFC.Â
Startup & Investment Activity
 Egypt – Social commerce startup, Brimore, raises $25M USD Series A funding round to enable SME’s in the FMCG market to sell to consumersÂ
   Egypt – Logistics startup, Yalla Fel Sekka (YFS), raises $7M USD Series A round to expand the company’s penetration in the Egyptian market and expand across MENA
 Kenya – Digital logistics startup, Amitruck, raises $4M USD seed funding to accelerate Pan-African expansionÂ
 Nigeria – InsurTech startup, Casava, raises $4M USD pre-seed funding to expand affordable and accessible insurance products to Nigerians Â
 Nigeria – Cryptocurrency startup, Nestcoin, raises $6.45M USD pre-seed funding to expand its global operationsÂ
 Nigeria – InvestTech startup, Bamboo, raises $15M USD funding round to help scale the company’s digital infrastructure and add a variety of new servicesÂ
 Nigeria – Mobility fintech, Moove, secures $10M USD financing from NBK Capital Partners to strengthen their mission to democratize vehicle ownership across AfricaÂ
 South Africa – Fintechs Stitch & Paystack prepare for inaugural Startup Showcase to support pan-African entrepreneurshipÂ
 Tanzania – Fintech startup, NALA, raises $10M USD seed funding to continue developing transfers between East Africa and the United KingdomÂ
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.Â
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