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It’s time for the Big 5 Daily!
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Drum roll! Okra, an API fintech startup based in Nigeria, has secured a $1 million pre-seed investment. The startup secured the investment from TLCom Capital. This is TLCom’s first investment in the fintech space.
Next, Africa-focused solar company, MPower has secured $430,000 via Crowdcube. The company will use the latest funding to upgrade its software, scale operations, and expand to new markets.
See also: The Big 5 Daily: 27th April, 2020
Guess what? GIFEC (Ghana Investment Fund for Electronic Communications) has selected Parallel Wireless, a US-based Open RAN provider to provide mobile connectivity to under-served and un-served areas in Ghana. The company will deliver affordable 2G, 3G, 4G, and 5G networks across the country.
Also, Alexandria Angels (Alex Angels) has launched a $6.3 million investment fund for Egyptian startups. The new fund will be invested in startups by the third quarter of the year.
Finally, a Food-tech startup, Mumm has secured an undisclosed pre-series A funding round. The funding from the Alexandria Angels will be used to scale its growth now and beyond the COVID-19 pandemic.
I hope you had a good read?
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