This Week in African Tech 🌍

Hey 👋🏽, Caleb here!

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Now, on to this week’s roundup….

Tech Roundup

• Kenya’s entertainment and media sector is growing fast, with internet advertising set to surge 17.4% annually through 2028, driven by digital adoption and mobile-first strategies.

• Nigerian startup Startbutton is launching in seven Francophone African countries, enabling more companies to expand into these markets and accept local payments.

• Israeli blockchain company StarkWare has launched a $4 million fund to back African pre-seed and seed-stage startups. The fund will offer grants of up to $150,000, with larger investments for projects building on StarkNet.

• Nigerian food delivery startup Chowdeck is expanding to Ghana as part of its plan to reach 52 cities across Nigeria and beyond by year’s end.

• DeFi platform Swypt has integrated Kenya’s first decentralized stablecoin cKES on Mento, pegged 1:1 to the Kenyan shilling. The move signals growing interest in stablecoins as an alternative to mobile money.

• Nigerian HR-tech startup Bento Africa has temporarily shut down following the resignation of CEO Ebun Okubanjo and layoffs of its engineering team after a protest over unpaid January salaries.

• Ghanaian fintech Hurupay has launched Africa’s first stablecoin-based virtual US dollar accounts for freelancers and remote workers. The accounts enable seamless USD payments with no hidden fees and withdrawals to crypto exchanges.

Deal Roundup

• Moroccan eyewear startup LNKO has raised an undisclosed amount from Beltone Venture Capital to accelerate its expansion across Africa.

• Madica, an investment program for pre-seed startups in Africa, is investing $800,000 in Medikea, Motherbeing, Pixie Motors, and ToumAI. Each startup has received $200,000 and will participate in an 18-month program with tailored support.

• Tunisian fintech EasyBank has secured $370,000 from undisclosed investors to support its global expansion into the Middle East, North Africa, and France.

• Ivorian fintech Cauridor has raised $3.5 million in a seed round led by Oui Capital to drive growth, strengthen its payment infrastructure, and expand into new markets.

• Pan-African VC firm P1 Ventures has completed the final close of its $50 million institutional fund. The firm takes a contrarian approach, backing early-stage tech founders with strategic capital and support.

• Moroccan startup ToumAI has raised $1 million in a pre-seed round led by Launch Africa Ventures to advance its personalized and adaptive voice AI solutions globally.

• Egyptian social commerce startup Taager has raised $6.75 million in a pre-Series B round led by Norrsken22. The funds will support its MENA expansion, enhance data tools for social sellers, grow its product selection, and scale its team.

• Nigerian fintech Raenest has raised $11 million in a Series A round led by QED Investors. The funds will deepen its operations in Nigeria, strengthen its presence in Kenya, and support expansion into the U.S. and Egypt.

 Other Events and Opportunities

• The second edition of Payd Founders Game Night is happening on Friday, March 28th, at Antler, ABC Place Nairobi, starting at 7 PM. Get ready for Maverick vibes, high-stakes fun, and an unforgettable night. Secure your spot here.

• Applications for the 4th Visa Fintech Accelerator are now open. It gives fintechs access to tools, network, and mentorship to scale their products, and four startups that got in last year went on to raise funding from Visa. Apply here by March 15th.

• No Code Tech Summit (NCTS) is hosting a Virtual Career Workshop on February 22nd. The expert-led session will cover career tracks in Customer Success, Quality Assurance, Business Development, and Human Resource Management. Register here.

And that's a wrap!

That’s it for this week. See you on Wednesday 😃 

Cheers,

The Tech Safari Team

PS. refer five readers and you’ll get access to our private community. 👇🏾

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