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SA insurtech startup Pineapple secures US$21.3M Series B

South African insurtech startup Pineapple has raised ZAR400 million (US$21.3 million) in Series B funding to boost its growth. The round was led by new investors Futuregrowth, Talent10, and MIC. Existing investors, including Old Mutual ESD, Lireas Holdings, ASISA ESD Fund, and E4E Africa, also participated. Pineapple’s innovative approach and robust growth, coupled with sustainable claims ratios surpassing industry standards, attracted investor support.

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Egyptian SaaS e-commerce startup Awfar raises 6-figure funding to expand in Saudi Arabia

November 16, 2023

Egyptian SaaS e-commerce startup Awfar has secured six-figure US dollar funding from Saudi Arabia-based venture studio, Value Maker Studio (VMS) to expand its presence in the latter country. Founded in 2020, Awfar offers fully integrated technology solutions for retail businesses, including cloud-based offerings, point of sale (POS), commercial and operational reporting, and delivery management solutions. It operates as a one-stop shop for retailers looking to enhance customer engagement and sales operations.

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Shekel Mobility, a B2B marketplace for auto dealers in Africa, raises US$7M led by Ventures Platform and MaC VC

November 16, 2023

Shekel Mobility, a B2B auto dealers marketplace, has secured over US $7 million in funding, with US$3.2 million in equity and over US$4 million in debt. The YC-backed startup focuses on offering affordable financing and business solutions tailored for car dealers in Africa, aiming to help small dealers with daily transactions and keep costs down.

CDPI Emerging Markets