Insurtech startup Curacel raises pre-seed funding for product development

NIGERIA – Curacel, the Lagos-based insurtech startup, has raised US$450 000 in a pre-seed funding round led by Atlantica Ventures and Consonance with participation from Kepple Ventures and other African angel investors to be used towards product development. According to Curacel, the funding will also be utilized towards the expansion of the startup’s footprint across Africa and to further its aim of becoming the continent’s premier provider of embedded finance technology for insurance. “We are excited to have these investors on board and we are looking forward to partnering with…

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Raxio Group, Meridiam partner to deploy data centres across the African continent

AFRICA – The Raxio Group, a premier pan-African data centre developer and operator, has partnered with Meridiam to deploy a network of data centres across the African continent. Meridiam is a global developer, asset and fund manager specializing in sustainable infrastructure and energy transition projects. Under the agreement, Meridiam will invest US$48 million to support the continued deployment of data centres in Africa, where both Raxio and Meridiam already have strong local presence. Meridiam’s investment is made alongside Raxio’s founding equity partner, Roha Group who established Raxio in 2018, and has been funding the company since…

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Accelerex Ghana hits new milestone with Payment Service Provider form BoG

GHANA – Accelerex Ghana, pan-African fintech company, has been granted an enhanced Payment Service Provider (PSP) licence from the Bank of Ghana (BoG), under the Payment Systems and Services Act, 2019 (Act 987). This makes Accelerex Ghana the only fintech organization currently within the enhanced PSP category that provides physical e-payment devices, merchant acquiring, and agency banking solutions in the country. The move followed on the heels of the ISO 27001:2013 and PCI-DSS certifications recently obtained by the company and will open the Ghanaian market to more electronic payment and…

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Fintech company Xerde launches new innovative funding solution for business

NIGERIA – Xerde, a fintech company, has announced the launch of its new application, Tudo, an innovative funding solution for businesses. The new service provides social funding solutions that will drive innovation and encourage digital transformation by offering a range of accessible solutions to organisations in Africa. The app was developed following demands for funding of social welfare initiatives in the wake of COVID-19 pandemic that hindered many small and large businesses and charities from operating and resulted in millions losing their livelihoods. Xerde technology is a startup that launched…

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Delivery startup Kwik Delivery launches plugins for merchants and eCommerce businesses

NIGERIA – Kwik Delivery, an on-demand delivery startup, has launched Magento Version 1.0 of the Kwik Delivery plugin to allow large and small merchants to offer its just-in-time delivery service to all their customers. This comes days after it released the version 2.0 of its WooCommerce plugin (version 2.0) for merchants and eCommerce businesses. “With only a few clicks, merchants and eCommerce businesses can provide quick, efficient, and affordable delivery services to their customers after purchases,” said Romain POIROT-LELLIG, Founder & CEO of Kwik Delivery. “That ease of business and…

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Biotech startup Impulse Biomedical raises funding from PE firm Futuregrowth

SOUTH AFRICA – Biomedical engineering startup Impulse Biomedical has raised funding from the Futuregrowth Development Equity Fund (DEF) to speed development and release of its flagship device. The Impulse device, the ZiBiPen, was designed by engineering graduates Gokul Nair and Giancarlo Beukes while completing their Masters’ Degrees in Biomedical Engineering at the University of Cape Town (UCT). The device aims to revolutionise the emergency treatment of life-threatening anaphylaxis, a severe allergic reaction that occurs when a patient is exposed to a foreign substance such as an insect bite or certain foods.  Without…

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Souiotech startup Impulse Biomedical raises funding from PE firm Futuregrowth

SOUTH AFRICA – Biomedical engineering startup Impulse Biomedical has raised funding from the Futuregrowth Development Equity Fund (DEF) to speed development and release of its flagship device. The Impulse device, the ZiBiPen, was designed by engineering graduates Gokul Nair and Giancarlo Beukes while completing their Masters’ Degrees in Biomedical Engineering at the University of Cape Town (UCT). The device aims to revolutionise the emergency treatment of life-threatening anaphylaxis, a severe allergic reaction that occurs when a patient is exposed to a foreign substance such as an insect bite or certain foods.  Without…

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Healthtech startup Takestep raises seed round investment for its expansion plans

EGYPT – TakeStep, a healthtech startup, has raised an undisclosed seed round investment to expand its operations to the GCC countries (Gulf Cooperation Council) in the near future. The investment was from two angel investors; Dr. Mohamed Hossam Khedr, who is also joining TakeStep as Managing Partner, and another Egyptian angel investor. Founded in 2018, the company has been helping over 15,000 patients to recover, and steer clear of relapsing, through 24/7 counselling services via its patient-centric web and mobile platforms. TakeStep aims to support people struggling with substance abuse…

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Pan-African investment company Beryl Group acquires 100% stake in Eyethu Coal

SOUTH AFRICA – Pan-African diversified investment company Beryl Group has acquired Africoal’s stake in Eyethu Coal, effectively making the group the 100% shareholder in Eyethu Coal. Eyethu Coal was established in 2004 and has six operational mines, with expansion plans for several new operations under development. Eyethu produces in excess of four-million tonnes of coal a year, with further capital injections from Beryl Group planned to enhance the assets and increase the life of the mines, and the opening up of a “solid and expansive” coal export business for Beryl…

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Liquid Intelligent Technologies completes 1,700km fiber lines in South Africa

SOUTH AFRICA – Liquid Intelligent Technologies South Africa, a subsidiary of Pan-African technology group Liquid Intelligent Technology, has announced the successful completion of two key digital corridors connecting Durban to Cape Town via the inland route. The company says the completion of this fibre network will support the surging demand for high-speed Internet, as an increasing number of local businesses continue their digital transformation journeys. It noted that increased access to high-speed fibre connectivity is critical to improving telecommunication services for millions of South Africans in the country and will also bring substantial social…

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