AfricaWorks Insights
February 6, 2025 at 02:30 PM
Ivorian 🇨🇮 fintech startup Cauridor has raised $3.5 million in seed funding to expand its hybrid payment network, strengthen its payment rails, and enter new markets 🚀. Operating across five West African countries with over 25,000 agents, Cauridor facilitates cash pickups, bank transfers, and mobile wallets. The company, which processed $500 million in TPV in 2024, aims to expand into Mali 🇲🇱 and Nigeria 🇳🇬 while exploring blockchain integration for cross-border payments.
Chapa Payments is revolutionizing Ethiopia’s 🇪🇹 fintech space with its seamless API, enabling secure, instant digital transactions across multiple channels 📱. Focused on East Africa, Chapa aims to tackle fragmented payment systems while supporting cross-border trade with multicurrency transactions and fraud detection tools. With a strategy rooted in real problem-solving, the company is poised for continent-wide expansion 🌍.
Smartphones are revolutionizing small businesses in South Africa 🇿🇦, helping entrepreneurs manage payments, marketing, and inventory. With 86% of entrepreneurs relying on them, smartphones are bridging rural-urban gaps and enabling growth, especially for women and rural entrepreneurs 📈. Despite challenges like affordability and digital literacy, they remain essential for driving innovation and financial inclusion 🤝.
Saviu Ventures has raised €25 million for its second fund, Saviu II, with backing from DGGF, Proparco, and AXIAN Investment 🚀. The fund supports early-stage tech startups in Africa 🌍, focusing on sectors like FinTech, HealthTech, and E-commerce. With investments in companies like Julaya and Rubyx, Saviu Ventures aims to empower founders and expand its impact across the continent 📈. The final closing target is €30-50 million.
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