Egyptian fintech Nexta has secured $3 million from local digital financial services provider eFinance.
It comes after society raised $2.2M in pre-seed funding led by Disruptech with the participation of some international investors earlier this year.
The new funding will be used to prepare for an official launch in a few weeks.
Founded in 2021 by Ibrahim Farag and Ahmed Hisham, Nexta is a neo-banking platform that allows users to transfer money and consolidate their existing payment cards into a single Nexta card.
Egyptian mass e-commerce startup Kenzz has completed a $3.5 million fundraising round led by Outliers Venture Capital, HOF Capital, Foundation Ventures, Samurai Incubate and select angel investors.
The startup was founded earlier this year by Ahmed Atef, Mahmoud AlSilk and Moataz Sami. It provides e-commerce services to help platforms digitize the offline experience. Its model is to source directly from manufacturers and importers and offer consumers deeper discounts when shopping with friends and family.
The funding will be used to recruit new talent, develop product categories, invest in technology and launch its new application.
Nigerian banking-as-a-service (BaaS) platform Maplerad, which started as a payment solutions provider with Wirepay and received pre-seed funding from OnDeck, Golden Palm Investments, Greenhouse and Berrywood Capital and d ‘ others, has now secured $6 million in seed funding led by Valar Ventures, a venture capital firm founded by Peter Thiel.
The round also saw participation from Golden Palm Investments, Fintech Fund, Armyn Capital, Dunbar Capital, Strawhat Investment, Polymath Capital, Unpopular Ventures and MyAsiaVC among others.
For Valar, this is the third bet on an African company after investing in fintechs Kuda and Yellow Card.
Co-founded by Miracle Anyanwu and Obinna Chukwujioke, Maplerad claims to have processed millions of dollars for more than 100 acquired companies on its platform while remaining in stealth mode.
Cape Town-based wellness startup Strove, which has an activity-based mobile rewards app that allows organizations to inspire their employees, customers and members to live healthy and active lives, has raised a undisclosed amount of funding from Japanese venture capital firm Lifetime Ventures.
It comes after it rises ZAR 4 million ($0.28 million) in funding round led by Launch Africa one year ago.
The startup was born from entrepreneur The Delta in partnership with Chris Bruchhausen.
Employees of a company that signs up for Strove can download the app and create an account. They can then sync their physical activities and track stats such as calories burned and points can be redeemed for rewards from partner brands. Strove also expanded to the UK some time ago.
Lagos-based Bumpa, which helps retailers manage and grow their businesses from their mobile phones and had raised $200,000 in a pre-seed funding round last year, has now raised a $4 million seed round led by Base10 Partners, with participation from Plug & Play Ventures, SHL Capital, Magic Fund, Jedar Capital, DFS Labs, FirstCheck Africa Angel Program, E62 Ventures , Club 14 and Fast Forward Ventures.
Bumpa was founded in February 2021 by Kelvin Umechukwu and Adetunji Opayele. It allows merchants to create an e-commerce store using their smartphone, integrate payments, manage inventory, manage books, fulfill orders, track sales, request couriers and engage customers.
He is now trying to position himself as a catalyst for social commerce.