DealMakers AFRICA

This week was all about startups and funding rounds

Kamp Group, a Ugandan pelleted animal feed processing, marketing and distribution company trading as Kamp Feed has received US$2,6 million in blended equity and debt funding. The funding, raised through a co-investment arrangement between Yield Uganda Investment Fund and Gorm Pedersen 2 Holding ApS, a Danish investor, will provide Kamp Feed with long-term patient capital to execute the company’s growth and expansion strategy.

Convertedin, an Egyptian marketing startup providing an operating system for e-commerce brands, has raised US$3 million in a seed round led by Merak Capital with participation from 500 Global and MSAS. The funds will be used to scale operations in Egypt and Saudi Arabia and to launch operations in Brazil.

Beacon Power Services (BPS), a Nigerian energy tech startup, has closed a US$2,7 million seed round. The round was led by Seedstars Africa Ventures with participation from Persistent Energy. BPS provides data and grid management solutions to help Africa’s power sector distribute electricity more efficiently. The funding will be used to improve current products and expand into markets beyond Nigeria and Ghana.

FinAccess, a Kenyan software solutions provider that digitises community banks and farming co-operatives in the East Africa region, has received a US$500,000 investment from South African VC firm HAVAÍC. FinAccess will use the funds, part of a pre-series A funding round, to expand its two core products, banking software solution Fincore and agricultural software solution Grobox.

Social commerce platform, Egypt-based Sharwa, has closed a US$2 million pre-seed funding round. The platform allows customers to purchase daily household essentials at more affordable prices. The round was co-led by Nuwa Capital and Hambro Perks Oryx Fund, among others.

Tripesa, a Ugandan tourism startup, has raised an undisclosed sum in a pre-seed round supported by Future Capital, Consonance Investment Managers and LTNT Investments.

Crew HR &Payroll, the Kenyan platform offering digital human resource solutions to SMEs, has raised an undisclosed sum and has rebranded to FaidiHR. The investment, from SprintX, a US venture capital firm focused on early-stage startups, will be used to grow the business.

DealMakers AFRICA is the Continent’s M&A publication
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