It’s Friday again and the end of Q1! Three months have gone by already in 2023. Is this year moving swiftly along or what?
Anyway, here’s what happened in the venture capital space between Mar. 20 and March 24, 2023.
Verod-Kepple Africa Ventures (VKAV) Raises $43 M For Pan-African Venture Fund
Verod-Kepple Africa Ventures (VKAV) raised $43 M for its pan-African venture fund which invests in scalable, tech-enabled, post-revenue start-ups addressing complex challenges on the continent.
The VKAV Fund is its first investment vehicle and will leverage the accumulated knowledge and skills of the two companies to invest in start-ups across Africa. It will focus on early-stage companies working to solve regional social challenges.
The funding comes from big backers like SBI Holdings, Toyota Tsusho Corporation, Japan International Cooperation Agency (JICA) and Sumitomo Mitsui Trust Bank (SMTB), and individual investors such as Osamu Kaneda.
South African Company, Fin, Acquires Thuthukani
South African fintech company, Fin, completed the acquisition of the housing finance provider, Thuthukani, and integrated it as Fin Home Loans.
Thuthukani’s incremental, housing finance offering has been renamed to Fin Home Loans and integrated into Fin’s South African portfolio. Fin Home Loans’ aim will remain to give middle-to-lower income Fin customers access to affordable finance.
Fin, formerly known as Finclusion Group, has developed a product offering that focuses on creating value for employers, employees, and consumers while closing the credit gap that persists on the continent.
FinTech Company, Credable, Raises $2.5 M Seed Funding Round
Credable, a fintech company providing its clients with a technology stack, scoring capabilities and banking partners, raised a $2.5 M seed round.
The fintech provides an end-to-end solution without exposure to credit risk by partnering with balance sheet providers (usually tier-two financial institutions struggling to access new customers because they lack relationships with tech-enabled businesses).
The round was led by The Continent Venture Partners with participation from Launch Africa, MAGIC Fund, and other strategic investors.
Deal Street Roundup
- Kenyan start-up, TIBU Health, raised an undisclosed amount of pre-Series A funding to allow it strengthen its solutions dedicated to chronic diseases as well as improve its virtual care platform.
See you Friday next week. . . and yes, next month too!
Source: weetracker.com
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