DealMakers AFRICA

Mediterrania Capital Partners a private equity firm focused on growth investments in SMEs and mid-cap companies in Africa, has exited its investment in MedTech Group, a Moroccan leader in IT, telecom and software services. The exit has been executed through an MBO led by MedTech’s management team.

Chipper Cash, a pan-African cross-border payment app, is set to acquire Zambian fintech company Zoona Transactions International. Their shared vision is to provide innovative and trusted payment and transfer solutions to customers in Africa, connecting consumers and business across the African continent. The deal is subject to deal closure and relevant approvals.

Pivo, a female-led Nigerian fintech startup, has closed a US$2 million seed funding round with participation from several investors including Precursor Ventures, Vested World and Y Combinator. This freight carrier-focused digital bank currently serves about 500 SMEs as direct customers and will use the funds to upgrade and expand its financial product offerings.

Ramani, a Tanzanian SaaS startup focused on consumer-packaged goods supply chains, has raised US$32 million in a series A debt-equity funding round led by Flexcap Ventures. Funds will be used to grow the number of partner brands which is key to the expansion of its distributor network.

Kenyan B2B supply chain and logistics SaaS provider Leta has closed a US$3 million pre-seed round. Participating in the round were 4Di Capital, Chandaria Capital, Chui Ventures, PANI, Samurai Incubate and Verdant Frontiers.

Grinta, the Egypt-based B2B marketplace which has digitised the pharmaceutical supply chain, has raised US$8 million in seed funding led by Raed Ventures and Nclude. Participating in the round were Endeavor Catalyst and 500 Global among others. Funds will be used to scale its full-stack tech platform and to accelerate growth across the country.

Morocco-based SmartProf, an online tutoring marketplace for students has closed a pre-seed round of US$110,000 from Plug and Play, UM6P Ventures and several angel investors. Funds will be used to extend its footprint in Morocco and West Africa.

Jeel, the Saudi Arabia-based edtech for pre-schoolers, has raised US$1,1 million in a seed round from EdVentures

Impact investor Norsad Capital has provided Zimbabwean Central Africa Building Society (CABS) with a US$10 million credit facility to support the bank’s growth strategy. The facility is earmarked towards lending to export clients particularly in the agricultural sector.

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