Addition leads US$6M seed round in Egyptian fintech Flash

Flash, an Egyptian fintech that provides cashless payment solutions for consumers and businesses through a scan-and-pay service, has raised US$6 million in seed funding led by Addition, the venture capital firm headed by former Tiger Global executive Lee Fixel. Flourish Ventures and other strategic angel investors participated in the round, which will help the startup accelerate product development and customer and business acquisition in Egypt.

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Nigeria’s to scale its open insurance API platform with new funding

July 20, 2023

Nigerian insurtech startup is announcing today that it has raised US$1.25 million in pre-seed funding led by Pan-African venture capital fund Ventures Platform with participation from Founders Factory Africa and follow-on investor Techstars. The startup, which participated in the Techstars Toronto program last year, said it will use the investment to bolster its in-house operations and tech talent, invest heavily in its proprietary technology and strategically expand its operations into other African markets.

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Kenya’s Tappi is helping SMEs build an online identity in minutes

July 20, 2023

Kenyan startup Tappi is helping SMEs build their online identity in less than two minutes through a chat tool that automatically creates a webpage, which is indexed to be found online. Founded by Kenfield Griffith and Louis Majanja, Tappi allows SME owners to download its app, add their “look and feel”, and promote their business through a three-step process that goes to Google Ads, Facebook Ads, and Instagram Ads using airtime credit or mobile money.

CDPI Emerging Markets