For many young African professionals, an opportunity to build a career in Germany can represent a pathway to stability, advanced technology and global exposure. For Nigerian engineer and entrepreneur Adekoyejo Kuye, however, the opportunity to remain abroad was not enough to outweigh the problems he believed he could help solve at home. Kuye’s decision to…

Nigerian fintech startup Xara is partnering with Flutterwave⁠ to strengthen the payment infrastructure behind its WhatsApp-based banking platform. The collaboration is designed to help Xara scale its conversational banking service while making digital financial services easier to access for Nigerians who may face barriers with traditional banking applications.  Xara, developed by Xava Technologies, allows customers…

Reservoir, a Boston-based climate technology startup, has raised $8 million in seed funding to develop smart heat-pump water heaters designed to make home electrification more attractive while also helping utilities manage electricity demand. The round was led by Asymmetric Capital Partners, with participation from Founder Collective and MCJ.  Founded by Luke Winston-Almanzar, Gabriel Parisi-Amon and…

African investment firm Silverbacks Holdings has increased its exposure to mobility fintech Moove to more than $37 million, highlighting growing investor confidence in the Africa-born company as its valuation reaches approximately $2.1 billion. The investment makes Moove one of the most valuable technology companies to emerge from Africa.  Silverbacks said its cumulative investment in Moove…

Kenyan used-car marketplace Peach Cars has secured ¥600 million, approximately $3.7 million, in new debt financing from Japan Finance Corporation (JFC) and Shoko Chukin Bank as it prepares to expand its operations across East Africa. The funding gives the mobility company additional capital to scale its technology-driven used-car marketplace and strengthen its vehicle financing infrastructure. …

Kenyan fintech startup Cloud9 has acquired social-commerce company Chpter in an all-stock transaction, bringing together two businesses with an unusual history. The deal comes less than a year after Chpter’s co-founders, Tesh Mbaabu and Mesongo Sibuti, left the company to launch Cloud9, turning former founders into the new owners of the startup they helped build. …