YC-backed Bamboo expands to Canada with remittance product
Bamboo expands to Canada after securing Money Service Business licence. Launch of remittance payment service, Coins by Bamboo.
Africa B2B Startups Wasoko and MaxAB Officially Complete Merger
African B2B e-commerce startups Wasoko and MaxAB have completed the continent’s largest-ever tech merger. The merged entity becomes a multi-vertical ecosystem for Africa’s informal retail sector.
Next Wave: How investor activity changed after 2022
A surge in startup funding in Africa's tech ecosystem in 2021 fueled by foreign capital and a low-interest rate environment. Major investors like Tiger Global and SoftBank pulled back due to rising interest rates and geopolitical tensions.
Nigerian digital bank FairMoney in talks to buy Umba in $20M all-stock deal, sources say
FairMoney is in discussions to acquire Umba in a $20 million all-stock deal. The potential acquisition would allow FairMoney to expand into Kenya.
African VCs and startups are eyeing the Middle East for new capital, but there’s a catch
African startup funding has declined by over 50% compared to the previous year. The UAE has become a significant source of foreign capital for African startups, contributing 4% in 2022.
