Weekly Digest 11

13 Oct 2021

A collection of news across the African private equity and venture capital industry |

Knife Capital and Hlayisani Growth Fund in edtech deal

Education technology company Snapplify has raised R30mn in “expansion capital” from venture capital firm Knife Capital via its Sars section 12J VC firm KNF Ventures and investment manager Hlayisani Capital’s Hlayisani Growth Fund. The investment has been earmarked for Snapplify’s international expansion initiatives and to advance its data analytics capabilities to enhance classroom teaching effectiveness

Source: Tech Central

Alsoug raises $5m in first foreign funding into Sudanese tech in 30 years

Alsoug, the largest digital marketplace in Sudan, has closed a US$5mn investment round to scale its digital payment network.The investment is co-led by Egyptian fintech unicorn, Fawry, and a “wider consortium of Western venture capital firms”. 

Source: Tech Cabal

Sparkle raises US$3.1mn in investment 

Sparkle, a mobile-first digital bank that provides financial, lifestyle and business support services to Nigerians across the globe, has raised an oversubscribed seed round of US$3.1mn (N1.3 billion) from an all-Nigerian group of investors including Leadway Assurance, Trium Networks and a number of Nigerian high-net-worth individuals. This follows a previous friends and family pre-seed round totalling US$2mn (N857 million), bringing Sparkle’s total funding to US$5.1mn

Source: Africa PE News

Eden Life raises US$1.4mn in seed funding 

Eden Life, strategically positioning itself as the go-to platform for home service needs, has raised a US$1.4mn seed round to deepen its market shareLocalGlobe, a U.K.-based venture capital firm, led the round. Africa-focused VCs Samurai Incubate, Future Africa, Village Global, Rising Tide Africa and Enza Capital participated.

Source: Tech Crunch


Inspired Evolution leads US$15mn funding for d.light

Inspired Evolution via its Evolution II Fund has led a US$15mn financing round in d.light, a leading innovator of solar, lighting and sustainable products.Other investors included Shell New Energies, FMO, Norfund, Swedfund, and KawiSafi Ventures. This latest round of funding, in addition to the US$10mn raised from Proparco in May, brings the  total to US$25mn raised this year by the company, underscoring the confidence investors have in the industry and d.light despite the pandemic. 

Source: Africa Global Funds


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