E-commerce startup ShipBlu raises pre-seed funding round led by Nama Ventures

EGYPT – ShipBlu, an Egypt e-commerce shipping and fulfillment startup, has announced that it has raised an undisclosed amount in a pre-Seed funding round led by Nama Ventures, with participation from Y Combinator and other prominent angel investors from San Francisco, CA and Saudi Arabia. The platform that is redefining the e-commerce shipping and fulfilment experience in Egypt, also announced that it has been accepted into Y Combinator’s Summer 2021 Batch. ShipBlu was founded in October 2020 by Ali Nasser, Abdelrahman Hosny and Ahmed El Kawass. Ali, the CEO, comes…

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Ecommerce platform Maxab raises US$40m Series A round to expand to other markets

EGYPT – Maxab, a Cairo-based B2B ecommerce platform, has announced that it has raised US$40 million in a Series A round led by RMBV, a North African-focused impact investor. IFC, Flourish Ventures, Crystal Stream Capital, Rise Capital, Endeavour Catalyst, and Maxab’s previous investors Beco Capital and 4DX Ventures all participated in the purchase. The startup intends to use the fresh funding to grow across Egypt’s major cities by the end of the year, followed by other markets in the region. According to the Egyptian firm, the funds will be utilized…

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E-commerce marketplace Fatura secures US$3m pre-series A round to expand its services

EGYPT – Fatura, a Cairo-based ecommerce marketplace, has secured US$3 million in a pre-Series A round led by Sawari Ventures and Arzan Venture Capital. The round also included participation from Egypt Ventures, EFG-EV, Cairo Angels, and Khwarizmi Ventures. In July 2020, the company raised an unknown amount of money in a seed round. With this financing, Fatura will be able to expand its services beyond e-commerce and digital financing, allowing it to optimize the interchange of products, money, and information in the B2B environment while concentrating on ease and user…

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Ecommerce startup Gozem expands its ride hailing services to Gabon

GABON – Gozem, a West African-based eCommerce startup which offers ride-hailing, logistics, food delivery, and fintech services, has launched in Gabon with a taxi-booking app. This is the first time Gozem will spread its operations outside West Africa. As it were, its focus is currently on Francophone African markets. Residents of Libreville, Gabon’s capital, can now access digital ride-hailing services on the Gozem app, as the service is not yet available outside the city. Gozem’s operations initially spanned only cities in the Republic of Benin and Togo — two West…

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Hubtel partners Visa for seamless payments of its eCommerce platform

GHANA – Hubtel, an indigenous eCommerce & SMS messaging company, has entered into a partnership with Visa, to expand access to seamless payments on its eCommerce platform. This partnership with Visa provides consumers with access to more merchant services on Hubtel’s eCommerce platforms. It also allows Hubtel to explore further innovative payment services such as “tap to phone,” amongst others, to reduce the dependency on cash, especially among small businesses. “Payments are the core of our business which is why we have collaborated with Visa to continue delivering convenient, secure…

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Fintech SeerBit partners Wix to empower eCommerce businesses in Africa

NIGERIA – SeerBit, an online payment processing platform, has announced its partnership with Wix, a global SaaS platform, to create, manage and grow an online presence, to empower and scale eCommerce businesses in Africa. SeerBit is a product of Centric Gateway, an innovative Pan-African tech solutions company enabling seamless and secure payments across East and West Africa. This collaboration makes SeerBit a payment gateway for Wix on the African continent, processing payments in local currencies, and giving unfettered access to African businesses to build their unique online presence. This integration…

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Fintech company Interswitch Group launches new payments and e-commerce platform

NIGERIA – Interswitch Group, a technology-driven company focused on the digitization of payments in Africa, has announced the launch of a new payments and ecommerce platform, Quickteller Business. Quickteller Business is aimed at supporting the growth of the SME sector across Africa and broadens Interswitch’s existing suite of payment solutions. It is also focused on empowering businesses of all sizes facilitate payments and manage transactions from anywhere in the world, through one, simple integrated platform. Complementing Interswitch’s existing Quickteller platform, Quickteller Business will broaden its payment management capabilities to businesses…

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