Weekly Digest 6

08 Sep 2021

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

Cropnuts, backed by DOB Equity, launches AgViza, a new disruptive AI platform, designed to make soil testing more affordable for African farmers

Crop Nutrition Laboratory Services Ltd (Cropnuts), Africa’s leading independent laboratory for agricultural and environmental testing, has launched AgViza, a disruptive AI-based soil testing and digital crop advisory service for smallholder farmers.

Source: Mattison Public Relations

Flutterwave launches “Flutterwave Grow” to enable hassle-free business registration

With Flutterwave Grow, Flutterwave simplifies the process of registering and incorporating a business by removing all the complexity around paperwork and legal procedures. By becoming a registered legal entity, a user will be able to scale their business and gain access to opportunities, resources, and tools that corporate entities use, including raising investment.

Source: Flutterwave

Egypt's leading fintech company MNT-Halan announces an investment of US$120mn

The investment included major regional and global growth investors such as Apis Growth Fund II, Development Partners International (DPI), and Lorax Capital Partners. 

Source: DPI

Impact investment platform, Trine announces partnership with Solarise Africa

The Swedish-based impact investment platform announces partnership with pan-African energy leasing company. The new venture totalling €5mn across is set to advance investments in food security, renewable energy, urban development, and manufacturing and production in South Africa, Kenya, Ghana and Rwanda.

Source: Trine

Nigerian fintech startup, Prospa closes a $3.8 million pre-seed investment which was oversubscribed by 380%

Propsa offers software and financial services to entrepreneurs and micro-businesses and had its funding round backed by venture funds Global Founders Capital and Liquid 2 Ventures

Source: Tech Crunch

Leadway invests US$5mn in InfraCredit 

InfraCredit, a ‘AAA’ rated specialised infrastructure credit guarantee institution is pleased to announce the equity investment of US$5mn by Leadway Assurance Company Limited (“Leadway”), thus making Leadway, the first private institutional investor member of the shareholder group in InfraCredit.

Source: Leadway 

Aradei Capital takes a 51% majority stake in Akdito Immo

Listed Moroccan real estate company Aradei Capital has acquired a 51% stake in Akdital Immo, a real estate platform initially founded by Akdital and BFO Partners. The transaction is a share capital increase to fund a pipeline of private clinics in primary and secondary cities in Morocco

Source: Aradei Capital

Capiter raises US$33mn to expand B2B e-commerce platform across MENA

Capiter, a Cairo-based B2B e-commerce startup that brings together manufacturers, brands, wholesalers and retailers on one platform with access to financial services, has raised a $33 million series A round. Co-led by Quona Capital and MSA Capital alongside additional investors Savola, Shorooq Partners, Foundation Ventures, Accion Venture Lab and Derayah Ventures, the round comes as Capiter ramps up its efforts to expand its service across Egypt and the region within 2022.

Source: Tech Crunch

Agritech startup Releaf secures US$4.2mn to scale its food processing technology

Releaf will use the seed investment to develop technology and deploy it to smallholder farmers, Nzewi tells me. Then the $1.5 million in grants will focus on providing working capital financing to these farmers.

Source: Tech Crunch

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