Weekly Digest 8

22 Sep 2021

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

Cartona raises US$4.5mn in funding 

Cartona, the Egypt-based B2B platform connecting retailers to manufacturers and wholesalers, has successfully raised US$4.5mn in its latest funding round. The pre-series A round was led by Global Ventures, with participation from Kepple Africa Ventures, T5 Ventures, and a group of angel investors.

Source: Tech Crunch

All On announces US$2mn investment into Infibranches Technologies Limited

Shell-funded impact investor All On announced a US$2 million investment in fintech company Infibranches Technologies Limited to help bridge the energy distribution gap in underserved rural and peri-urban areas of Nigeria. Infibranches is currently the only company in the fintech space that has built a secure platform that serves as a single point of integration for payments and other financial services for service providers in the Nigerian renewable energy sector.

Source: All On

Zola Electric closes US$90mn funding round

Zola Electric has announced that it has closed US$90mn in new funding to enter new markets and drive distributed renewable energy.The US$90 million funding raised is a combination of debt and equity, US$45 million each.

Source: Tech Crunch





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