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Powered by People Secures Series B to Take African Brands Global
Powered by People (PBP), a commerce technology company with deep roots in Africa, has raised a new Series B funding round as it works to help African artisans and independent brands compete in the rapidly changing global retail market. The round was led by the BESTSELLER Foundation, with existing investors Golden Ventures, Susa Ventures and…
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CardinalStone Secures $76M to Scale West African SMEs
CardinalStone Capital Advisers (CCA), a West Africa-focused private equity firm, has reached a $76 million first close for its second investment vehicle, the CCA Growth Fund II. The milestone strengthens the firm’s ability to provide long-term growth capital to promising small and medium-sized enterprises across the region. The fund has a target size of $120…
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Edge Growth Secures $21.8M First Close for $46.8M African Growth Debt Fund
South African investment and business development firm Edge Growth has launched a new $46.8 million debt fund aimed at providing flexible growth capital to established, technology-enabled businesses across South Africa and selected African markets. The Edge Impact Fund has already secured a first close of R350 million, equivalent to about $21.8 million, putting it nearly…
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Verascient Raises $1.2M to Transform Enterprise AI in Africa
South African-founded artificial intelligence startup Verascient has raised $1.2 million in an oversubscribed funding round as it looks to help businesses turn fragmented internal information into useful AI-powered workflows. The funding marks an important step for the Cape Town-based company as it prepares to expand its technology, grow its engineering team and pursue enterprise customers…
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BraceMoni and Fundmey Hit ₦83M With Zero Defaults
Nigeria’s fintech lending market is increasingly moving beyond simply disbursing loans. As access to credit expands, lenders and financial technology companies are paying greater attention to repayment discipline, capital efficiency and sustainable lending models. Against this backdrop, digital credit platform BraceMoni and credit infrastructure company Fundmey have recorded more than ₦83 million in transaction volume…
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Former SpaceX Leader Takes Strategy Role at Terra Industries
Nigerian defence-technology startup Terra Industries is adding experience from one of the world’s most ambitious technology companies as it prepares to expand beyond Africa. The company has appointed Ben MacWilliams, a former SpaceX executive who helped take Starlink into more than 20 African countries, as its Vice President of Strategy. The appointment comes at an…