TechArena

Cauris Finance Secures $40 Million in Funding. Cauris Finance has announced the close of a $40 million debt facility with a U.S.-based institutional investor. This facility will enable Cauris to expand its efforts to support socially impactful African fintechs that provide essential credit access to financially underserved small businesses and entrepreneurs, the economic engines of every African economy. Cauris specializes in bridging the critical funding gap for financially underserved African businesses and entrepreneurs. By financing innovative companies that deliver high-quality credit, Cauris drives financial inclusion, supports job creation (particularly for youth), and empowers women-led businesses. With a commitment to gender equity, climate action, and sustainable development, Cauris aligns its work with the UN Sustainable Development Goals (SDGs). “Cauris is committed to unlocking Africa’s vast economic potential by enabling fintechs to deliver high-quality, accessible credit to the businesses and people who are the backbone of the continent’s economies,” said Azer Songnaba, CFA, Chief Investment Officer of Cauris Finance. “This facility marks a significant milestone in our journey, underscoring our belief in the power of innovative financial solutions to create meaningful social impact and to drive sustainable growth.” https://lnkd.in/dC4bXwE2

10 African Ventures Selected to Showcase Solutions at Africa Tech Summit Nairobi 2025. The Africa Tech Summit Nairobi has announced the 10 African tech ventures that have been selected to showcase their solutions for potential funding and partnerships on February 12th and 13th at the Sarit Expo Centre in Nairobi. They Include: ✅ Bizy Tech Limited (Tanzania) developed a digital agricultural platform, KILIMO BaNDO, to support Smallholder farmers and agro-small and medium enterprises by providing access to essential agricultural services and financial solutions. ✅ Dojah (YC-W22) (Nigeria) is an anti-fraud infrastructure platform that enables businesses to detect, prevent, and manage fraudulent activities in real-time. ✅ Duhqa (Kenya) is a B2B platform that connects retailers with manufacturers and suppliers, locally and internationally. They aim to solve logistics and delivery inefficiencies by enabling retailers to get their goods delivered conveniently and affordably. ✅ Flow Global (Uganda) is addressing the significant problem faced by Micro, Small & Medium Enterprises (MSMEs) in developing countries: the lack of access to adequate financing that hinders their growth potential. ✅ Heala Tech Ltd (Nigeria) is a digital health platform that streamlines healthcare delivery in Africa, connecting patients, providers, and insurers through scalable tech solutions to improve access, affordability, and efficiency across the ecosystem. ✅ JaliKoi (Rwanda) provides a simplified approach for low and middle-income earners to access financial services. ✅ Koolboks (France, Nigeria and Kenya) provides pay-as-you-go (PAYG) solar-powered refrigeration solutions to underserved communities and SMEs, enabling 24/7 cold storage to reduce food waste and promote climate resilience. ✅ Maisha Poa (Kenya) is an insurtech startup that provides affordable and accessible micro-insurance solutions, protecting low- and middle-income households from financial shocks. ✅ PricePally (Nigeria) is an e-commerce startup addressing inefficiencies in the food distribution system. ✅ OnSpace Technologies (Kenya) is a no-code platform that addresses a critical problem faced by agricultural SMEs and related industries: the lack of affordable, accessible, and adaptable business systems. “We are delighted to welcome these ventures to the seventh edition of Africa Tech Summit (ATS) Nairobi,” said Andrew Fassnidge, Director of Africa Tech Summit. “The ATS Investment Showcase continues to showcase and connect investment ready tech ventures, with leading VC’s and support them in a challenging funding environment”. Read more >> https://lnkd.in/dCpnhC6M

Purple Elephant Ventures Raises $4.5M to Lead Tourism-Tech Innovation in Africa. Purple Elephant Ventures (PEV) has raised $4.5 million in seed financing, marking one of the largest tourism-tech rounds in African history. This landmark investment will accelerate PEV’s mission to transform the continent’s tourism industry into a global leader in regenerative tourism. By building cutting-edge travel technology in Africa, PEV aims to create a resilient, inclusive, and environmentally sustainable tourism sector. “This funding is a testament to the untapped potential in African tourism innovation,” said Ben Peterson, Co-Founder and CEO of Purple Elephant Ventures. “With this support, we’re poised to revolutionize the industry through groundbreaking travel technology in Africa, fostering economic growth while preserving the continent’s incredible natural and cultural heritage. The future of sustainable tourism in Africa has never been brighter.” https://lnkd.in/dxXTC58G

Nigerian Fintech, LemFi, Raises $53 Million in Series B Funding. Nigerian fintech, LemFi, has raised $53 million in series B funding according to TechCrunch. This funding round was led by Left Lane Capital and saw the participation of Y Combinator. “We’ve kept our fraud rate extremely low, which allows us to offer competitive prices and build trust in immigrant communities,” said LemFi CEO Ridwan Olalere. “Our user experience and reputation drive referrals, fueling faster growth in this competitive market.” https://lnkd.in/dztD-EPd

Network International Partners with Money Fellows to Enhance Digital Payments in Middle East and Africa. Network International (Network) has partnered with Money Fellows, the leading money circles app, to power a new solution that will leverage its best-in-class payment functionality. Dr. Reda Helal, Group Managing Director – Processing, Africa & Co-Head Group Processing at Network International, said: “We are pleased to partner with Money Fellows to enhance their market offerings and competitiveness, while supporting the company’s expansion into new markets in the Middle East and Africa. This collaboration signifies a major milestone in the fintech sector in the country that is currently experiencing rapid growth, aligning with the Egypt National Vision 2030 plan.” Ahmed Wadi, CEO & Co-Founder of Money Fellows, said: “We are thrilled to collaborate with Network International on this significant milestone for our company. We are taking this step with confidence, knowing we have the right partner in Network International to ensure the payment functionality and security that our users deserve. This launch marks a pivotal moment in our journey, reinforcing our leadership position in the market and setting the stage for our regional expansion.” https://lnkd.in/dXgmeqM9

Village Capital Invests $150,000 in Two Women-Led Startups, Rhea and Regxta. Village Capital has announced the investment of $150,000 in two women-led startups, Rhea Soil Health Management (Rhea) and Regxta. This is facilitated through Standard Chartered’s Women in Tech Financing Facility that seeks to support alumni of Futuremakers by Standard Chartered initiative. “Building a science-driven hardware-software business in Africa’s agritech sector is challenging, especially with the need for continuous R&D and market-driven innovation. Village Capital’s investment will help us finalize the production of our Agripad devices, expand our agent network, and strengthen our impact on smallholder farmers and agronomists across Kenya. The Standard Chartered Women in Tech program equipped us with the tools to scale sustainably and create meaningful results and therefore joining Village Capital’s portfolio, solidifies that foundation, said Priscilla W., Founder, Rhea. “Village Capital’s investment arrived at a crucial time, enabling us to expand our reach, secure a microfinance banking license, and enter new markets. This support affirms Regxta’s position as a high-impact startup driving poverty reduction, fostering economic growth, and creating sustainable opportunities for underserved communities in Nigeria, said Rukayat Kolawole-Bello, Founder, Regxta. https://lnkd.in/dMH3SZ54 #africa #womenintech #villagecapital

Check Point Software Announces Leadership Transition: Gil Shwed Becomes Executive Chairman, Nadav Zafrir Appointed CEO. Check Point has announced the transition of founder Gil Shwed into the role of Executive Chairman of the Board of Directors, and the appointment of Nadav Zafrir as the company’s new Chief Executive Officer, starting December 16th. “Check Point embarks on a new chapter, with my transition into my new role as Executive Chairman and the appointment of Nadav as the company’s new CEO. I’ve known Nadav for many years and he is the perfect fit to lead Check Point to new heights,” said Mr. Shwed. “I have full confidence in the company’s strategy, strength, leadership and employees, and we will work together to ensure this new journey brings even more success than we’ve achieved so far.” Read the full article >> https://lnkd.in/dCVMxWPs

Cassava Technologies Closes a $90 Million Equity Investment Round. Cassava has announced the close of an equity investment round of $90 million with participation from U.S. International Development Finance Corporation (DFC), Finnish Fund for Industrial Cooperation (Finnfund), and Google LLC. This funding is a key part of Cassava’s plan to strengthen its balance sheet, drive sustainable profitable growth, and cement its position as a global technology company of African heritage. “We are excited to announce these significant achievements, which collectively strengthen our financial position and are a powerful testament to the vision of our founder and Group Chairman, Strive Masiyiwa, and the dedication and commitment of our teams across the Group,” said Hardy Pemhiwa, President and Group CEO of Cassava. “The closing of this equity round, completion of our ZAR debt refinancing, and reorganization represent more than just capital – it’s a pivotal milestone that we expect to unlock immense value and catalyze the further expansion of our digital infrastructure and services to bridge the digital divide on the continent”. https://lnkd.in/dDV8GAdz

Blink Takes Top Prize at TBD Hackathon. Block, the global technology company with a focus on financial services, has announced the winners of the highly anticipated TBD Hackathon, a competition designed to foster innovation, creativity, and technological advancements in payments across Africa. The grand prize winner, @Emmanuel Kufre, built Blink – a decentralized wallet application that acts as a payment processor for freelancers. The event, held in collaboration with the Africa Bitcoin Conference, challenged developers to create novel payment solutions leveraging tbDEX, TBD’s open-source money protocol. “The level of creativity and technical expertise showcased during the TBD Hackathon has been truly inspiring,” said Angie Jones, Global VP of Developer Relations at Block. “There is so much incredible talent and innovation taking place all over the continent, and the winning teams are truly representative of the future of financial solutions across Africa. They have all demonstrated a deep understanding of the challenges facing a pan-African payment system, and have developed solutions that have the potential to transform the way people transact. We look forward to seeing how these exceptional developers continue to drive innovation in payments and in technology overall.” Read the full article >> https://lnkd.in/dgNTauqm

Kenya’s Aurora Health Systems Wins Qualcomm Wireless Reach Award for Innovative ECG Device. Qualcomm has announced the completion of the second year of its Make in Africa Startup Mentorship Program, culminating in the Make in Africa Finale 2024. This platform continues to showcase the energy and innovation emerging from the African technology scene, demonstrating Qualcomm's commitment to supporting startups as part of the broader Qualcomm Africa Innovation Platform. Aurora Health Systems from Kenya was announced the winner of the 2024 Wireless Reach Social Impact Fund. This fund, provided by Qualcomm through its Qualcomm Wireless Reach Initiative, aims to support startups in scaling their societal and market impact. Aurora Health Systems was selected for their innovative wireless, portable ECG device with LTE connectivity. This device assists patients with cardiovascular disease by enabling remote data transmission of ECG data to healthcare providers, even in rural areas. They are the first in East Africa to train ECG AI models on locally sourced data, resulting in more accurate algorithms and improved AI-powered diagnostics. Additionally, all finalists will receive stipends to further fuel their growth and help protect their intellectual property.  “The Make in Africa startups are disrupting traditional industries and tackling socio-economic challenges, crafting innovative solutions with global market reach by using AI, advanced connectivity, and IoT,” said Wassim Chourbaji, SVP & President, Qualcomm MEA & SVP, Government Affairs EMEA. Alice Muhuhu Read the full article here >> https://lnkd.in/dyu3Be6T