Andela, a Lagos, Nigeria-based selective technology training program in Africa, raised a Series A round of funding. The financial terms of the deal weren’t announced. The round was led by Spark Capital with participation from Omidyar Network, LearnCapital and other investors from North America and Africa. In conjunction with the funding, Spark Capital general partner […]

BitPesa, a Nairobi, Kenya-based bitcoin remittance platform, raised $1.1m in funding. The round was led by Pantera Capital Management LP with participation from Crypto Currency Partners LP, Stephens Investment Management LLC, Bitcoin Opportunity Corp. and Future/Perfect Ventures. In conjunction with the funding, Dan Morehead of Pantera Capital Management joined BitPesa’s board of directors. The company […]

AutoXpress, an East Africa-based tyre wholesaler and retailer, received a 36% equity investment from global emerging market investor Actis. The amount of the transaction was not disclosed. The company will use the proceeds to accelerate its expansion across East Africa. Led by Managing Director Sandeep Shah, AutoXpress is a distributor and retailer of tyre, battery […]

Kopo Kopo (The name comes from kobboh kobboh, the Krio word for money), a Nairobi, Kenya-based mobile money merchant services platform, received an investment from Accion. Accion made the investment through Venture Lab, its $10m seed-capital initiative to invest in and support innovative start-up companies that help expand global financial inclusion for the world’s poor. […]

Emerging markets fund manager LeapFrog Investments held the initial close for its second fund at US$204m. Supporter included MetLife Inc., Prudential (USA), XL Group, Achmea, PartnerRe and Swiss Re, JPMorgan Chase & Co., Christian Super and TIAA-CREF, CDC, DEG, the European Investment Bank, FMO, and Oikocredit. Led by Andrew Kuper, President and Founder, LeapFrog Investments […]

eleni LLC, a Nairobi, Kenya-based newly formed company which will incubate and support the formation of commodity exchanges across Africa, has received a $5m equity investment. Backers included Morgan Stanley and IFC (International Finance Corporation), part of the World Bank Group, which will invest up to $2.5m. Led by CEO Dr. Eleni Gabre-Madhin, and co-founders […]

Ushahidi, an open source platform enabling citizen-generated information reporting and sharing in the aftermath of a crisis, has been awarded a $1.4m grant from philanthropic investment firm Omidyar Network. The funding, which will be delivered over two and a half years, will enable Ushahidi to establish a hub in Naiorbi, Kenya, expand the development team […]