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26 - 09 - 2019

Good morning and welcome to today's edition of TC Daily! Please take a moment to subscribe if this email was forwarded to you and have this delivered directly to your mailbox every weekday. 

MaxAB, an Egyptian e-commerce company has closed a $6.2 million seed round. Beco Capital, 4DX Ventures, and Endure Capital led the funding round while 500 Startups, Outlierz Ventures and some local investors participated in it. The startup will use the investment to expand within Egypt and later across North Africa. MaxAB was founded last year in November to make it easier for food and grocery retailers to connect with suppliers through its app.
Econet says it is looking to add electric cars to its ride-hailing service, Vaya. The company also wants to launch a network of electric car charging stations, the first of its kind in Zimbabwe. Econet says Vaya Electric will be in 10 African countries within the next one year. Zimbabwe has been facing fuel queues and rising fuel prices so analysts argue that electric vehicles are a good alternative. Econet first launched Vaya in 2018, the first known ride-hailing service in Zimbabwe.
Tomorrow Friday, 27th September 2019, we are convening the most knowledgeable and most influential mobility investors, entrepreneurs and policymakers in Africa, at TC Townhall: Mobility to discuss the future of Africa's transport and logistics tech sector.  To attend, get your tickets via this link.  There will also be a series of workshops which you can register to attend via this link once you've purchased your tickets to the event. The event is sponsored by Uber and Lori Systems and is supported by Zone Tech Park and Odujinrin & Adefulu. We've got a few tickets to giveaway to you our loyal readers. Please sign up here before 12pm today to indicate interest and you'll be notified if you are selected. Limited seats are available.
Cape Town-based edtech company Snapplify has raised $2 million in growth funding from Knife Capital and  Hlayisani Capital. The company will use the money for product development as well as to expand its business internationally. Snapplify provides digital learning solutions and ebooks to schools including colleges and universities.
VC firm, Microtraction has announced a new partnerChidinma Iwueke is joining Dayo Koleowo as a partner with more than six years of experience as a consultant and entrepreneur. Chidinma was previously with the early-stage off-grid energy investment firm, Persistent. She holds an MBA from Columbia Business School. Microtraction was founded by Yele Bademosi in 2017 and its portfolio companies include Wallets Africa, BuyCoins, Stack Diagnostics and CowryWise. 

According to Disrupt Africa, Zambia's Zazu has received a $1.4 million investment from undisclosed sources. The fintech startup will use the funding to grow its team as well as acquire more customers. Zazu has built a chatbot that teaches people how financial services work via SMS. It also provides a digital wallet that is connected to a prepaid card, giving people control over their spending.

Bolt (previously Taxify) riders in Nigeria say they are getting random debit alerts for trips they didn't take. It is currently unclear what is going on but some riders say there's been a hack and many have resorted to unlinking their cards from the app. Bolt has released a statement in which it denied that there's been a hack. It also communicated that it is working with its payment processors to investigate the causes of the debits and has asked affected riders to get in touch. What's apparent is that there's been a technical glitch but the effect on customers' trust could be very expensive for Bolt.
These Chinese vloggers are changing how China’s rising middle class sees Africa by Quartz Africa
Ever heard about Ganvié? Yesterday the #JollofRoad team visited the small community in Benin Republic which some have called West Africa's Venice. They debunked everything you've heard about the place in this journal entry. Check-in at http://jollofroad.com every day for a journal entry/video from the road as Fu'ad, Kayode and Toke are travel across 14 West African countries for a total of 80 days bringing you the best culture content from the continent.  
Thanks for reading  
See you tomorrow   - Olanrewaju
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