Africa accounts for 40% of Techstars Toronto’s investment portfolio

In the last six years, Techstars Toronto has made 100 investments in startups across the globe. 40 of these investments are in Africa.

South African insurtech startup, Root secures $1.5M to fuel UK and European expansion

Root has secured $1.5 million in additional funding to drive its UK and European growth plans.

South African fintech, Revio raised a $5.2M seed to enhance payment solutions in Africa

Revio, a South African fintech startup specialising in payment orchestration, has successfully secured $5.2 million in seed funding to advance its efforts in simplifying and optimising payment processes across the African continent

Enza Capital secures $58 million to back African tech startups

Enza Capital has closed a $58 million funding round across two funds. The VC firm has also launched its partner program for startup founders.

Twiga Foods faces a liquidation threat over $263,691 debt

Incentro Africa has filed insolvency against Kenyan agritech startup, Twiga Foods for its failure to remit KES 39 million ($263,691).

Biden appoints Chipper CEO on advisory council for African diaspora engagement

United States President, Joe Biden on Tuesday announced the appointment of Ham Serunjogi, co-founder and CEO of Pan-African fintech Chipper Cash, as a member of the country’s advisory council on African diaspora engagement.

Nigerian fintech, Risevest acquires Chaka

Techstars-backed fintech, Risevest has acquired Chaka, a digital trading platform. “I’m excited about how Chaka’s product will evolve and how we’re going to learn from the Risevest team,” Tosin Osinbodu, Chaka’s founder told TechCabal while confirming the deal that was closed on Tuesday (September 26).

Pan-African VC, P1 Ventures launches $50M fund to back early-stage startups

Pan-African Seed VC fund, P1 Ventures has completed the first close of its $50m fund to invest in African startups with transformational software businesses.

Microsoft-backed FAST accelerator selects 12 African startups for AI program

Out of the 12 startups in the FA23 cohort, nine are Nigerian, and one each from Kenya, Tanzania, and Ghana. Also, fintech startups dominated the cohort.

X/Twitter is disabling its Circles feature

X/Twitter has today announced that it will be disabling its Circles feature. The feature is set to be shut down by the end of next month, leaving users with a major change in how they share content on the platform.

UK government increases global talent visa application fees

The UK government is set to significantly increase work and student visa application fees for foreign applicants, including Nigerians. The changes are set to come into effect on October 4, 2023, following legislation being laid in Parliament.

CBN launches portal for microfinance bank licence applications

The Central Bank of Nigeria (CBN) on Wednesday announced that it has unveiled a digital platform for the submission of Microfinance Bank (MFB) licence applications.