Good Day, guys! Hope you had an awesome weekend?
We are here again with the Big 5 Daily. Let’s dive in.
Kobo360 has raised $6 million to expand its platform operations to other African countries – Ghana, Togo and Cote D’Ivoire.
Kobo360 operates as a platform that links truckers and companies with their cargo needs and has secured the equity investment led by IFC investment with YCombinator, WTI, Cardinal Stone Partners, TLcom and Chandaria Capital as participants in the round.
Reports have it that Egypt’s Vezeeta secured an undisclosed investment from International Finance Corporation (IFC) – a member of the World Bank Group – after it closed a $12-million Series C funding round led by Saudi’s STV three months ago.
Pineapple, a South African InsurTech start-up will now be incubating at the U.S. based Hartford InsurTech Hub, this is coming months after winning Google Launchpad Africa accelerator. The company was the only African start-up among 10 participants picked by the accelerator from over 200 applicants and it will receive mentorship and access to investors from Hartford InsurTech Hub’s global network.
Liquid Telecoms will be investing $400 million in Telecom Egypt for the next three years, the leading pan-African group announced this during the signing ceremony at the Africa 2018 Forum. The investment deal was signed by the Managing Director and Chief Executive Officer of Telecom Egypt, Ahmed El Beheiry, and Strive Masiyiwa – Group Executive Chairman of Liquid Telecom’s parent company, Econet. This agreement is part of a major partnership with Telecom Egypt which includes network infrastructure and data centres.
Finally, Paga now has 11 million unique users. They have witnessed sporadic growth throughout 2018 as they grew from 8 million to 9 million users in 141 days, 79 days to move from 9 million to 10 million users – and 37 days to hit 11 million from 10 million users. Huge congratulations to them!
And that marks the end of the Big 5 Daily … join us tomorrow.