Founder-market fit is one of the most crucial factors in a startup’s success, and operators (someone involved in the day-to-day operations of a startup) turned founders have an almost unfair advantage in finding that fit. Data shows that a lack of expertise and business acumen in founders contributes to failed VC investments. The same principle applies […]
Maad raises $3.2M seed amid B2B e-commerce sector turbulence in Africa
Maad, a B2B e-commerce startup based in Senegal, has secured $ 3.2 million debt-equity funding to bolster its growth in the western Africa country and to explore fresh opportunities in the wider Francophone region. The seed round was led by Ventures Platform, with participation from Seedstars International Ventures, Reflect Ventures, Oui Capital, Launch Africa, Voltron […]
Amazon finally puts down e-commerce roots in Africa
Amazon’s highly awaited entry into Africa has come to fruition, with the tech giant announcing the launch of its e-commerce marketplace in South Africa on Tuesday. The e-commerce giant revealed in a statement that its localized platform, Amazon.co.za, will provide customers with access to a wide array of local and international brands spanning 20 product […]
Renda, which provides order fulfillment for businesses in Africa, takes in $1.9M
The logistics industry in Nigeria, like any informal sector, struggles with poor infrastructure and other inefficiencies, making it difficult for businesses — both large and small — to move and store goods. Many startups have tackled middle-mile and last-mile delivery challenges, but one untapped area is providing an end-to-end fulfillment solution. Renda, a three-year-old startup, […]
Madica, a program by Flourish Ventures, steps up pre-seed investing in Africa
Madica, an investment program launched by US-based investor Flourish Ventures to back pre-seed startups in Africa, plans to invest in up to 10 ventures by the end of the year, ramping up its funding efforts after closing three initial deals. Madica disclosed the plans to TechCrunch indicating accelerated investing in the coming year as it […]