DealMakers AFRICA

About Capital Management, a Hong Kong-based fund management company has acquired a controlling stake in Seychelles-based cryptocurrency exchange Huobi Global. Financial details were undisclosed.

Egypt’s state-owned National Automotive Company has acquired a 33% stake in Electrified, a Cairo-based content driven community accelerating the adoption of electric mobility.

P2P payment app Telda, has raised US$20 million in a seed funding round led by Global Founders Capital with participation from Sequoia Capital. The Egyptian consumer money app which services unbanked users will use the funds to expand into new markets and build its product offering.

iSupply, Egypt’s B2B pharma platform, has raised US$1,5 million in a pre-seed funding round led by Disruptech. The funds will be used to onboard c.60,000 pharmacies, launch distribution and financing services and expand regionally to Africa and the MENA region.

E-commerce financing platform FlapKap, a tech-enabled revenue-based financing platform in the Mena region, has closed a US$3,6 million seed round. Funds, raised from Bolt by AED, Nclude, Outliers and A15, will be used to increase its capacity to service more e-commerce businesses and to consolidate its position in the region.

Roboost, an Egypt-based delivery management solution startup has secured a six-figure seed round from Falak Startups, AUC Angels with follow on funding from Flat6Labs. Roboost transforms and digitalises business to achieve reduced costs, improve delivery time and increased productivity. The new funding will accelerate growth by enhancing Roboost’s AI delivery management solution and expanding its product offering.

Nigerian health technology company Lifestores Healthcare has raised US$3 million in a round led by Health54, the venture capital arm of CFAO Group and Nigerian early-stage growth equity fund Aruwa Capital Management. The investment will be used to increase the network of health services providers and the existing wholesale distribution capabilities in Nigeria and across Africa.

Holged Group, a provider of primary and secondary education in Morocco and Tunisia, has received an undisclosed investment from Africa50, a pan-African infrastructure investment fund. The funds will be used to further accelerate the expansion of Holged’s network of schools across Africa.

Stears, a Lagos-based data and intelligence company, has raised US$3,3 million in a seed round led by MaC Venture Capital with participation from Serena Ventures, Luminate Fund, Melo 7 Tech Partners and Cascador. Funds will be used to expand coverage geographically by establishing a presence in East and Southern Africa.

Healthtech startup Egypt-based Vezeeta has raised an undisclosed sum to accelerate its organic growth and fund acquisitions across the Middle East and Africa. Investors included Abu Dhabi-based Gulf Capital and Swedish investment company VNV Global.

Purple Elephant Ventures, a Nairobi-based venture studio using technology to improve sustainable travel and tourism across Africa, has secured US$1 million in pre-seed funding. Investors include Canadian Klister Credit Corp, The Untours Foundation and a number of angel investors. Funds will be used to build the next generation of startups to modernize the travel industry.

Nigerian FSDH Merchant Bank has received a US$25 million trade finance facility from the African Development Bank. The approved package consists of a US$15 million trade finance line of credit and a US$10 million transaction guarantee for the merchant bank to provide loans to local enterprises in the agricultural, manufacturing and energy sectors in Nigeria.

DealMakers AFRICA is the Continent’s M&A publication
www.dealmakersafrica.com