CRYPTO MARKET: SA REGULATES CRYPTO EXCHANGES

Bitcoin	$17,399	– 1.82%
Ether	$1,270	– 1.74%
BNB	$261	– 1.44%
FTX Token	$1.34	– 0.55%
Name of the coin Price of the coin 24-hour percentage change		Source: CoinMarketCap

* Data as of 06:30 AM WAT, December 16, 2022.

VENTURES PLATFORM CLOSES ITS FUND AT $46 MILLION

Ventures Platform, an early-stage, Africa-focused VC firm, has closed its early-stage and intercontinental fund at $46 million, surpassing its initial target of $40 million.

The investment saw participation from Standard Bank, the International Finance Corporation, British International Investment, A to Z Impact, Proparco with FISEA, AfricaGrow, and HNIs. 

About Ventures Platform

Ventures Platform was launched in 2016 by Kola Aina, and it has made about 81 investments in sectors such as fintech, insurtech, health tech, edtech, agritech, enterprise SaaS, digital infrastructure plays, and digital talent accelerators. 

The majority of these investments are pre-seed and seed, but it also now issues Series A cheques to its portfolio companies, some of which can directly access follow-on capital (Series B and above).

Some of the companies in its portfolio include: PiggyVest, Marketforce, Reliance HMO, Mono, PayHippo, Mono, SeamlessHR, Tizeti, Printivo, and Nomba.

Editor’s note: In the email we sent out to our over 125,000 TC Daily subscribers, we erroneously reported that Ventures Platform closed the fund at $40 million before this final close. 

The fact is that $40 million was VP’s target but the fund was oversubscribed by its final close reaching $46 million instead.

CELLULANT & ZANACO ENABLE PAY TV FOR ZAMBIANS

Cellulant Zambia has announced the additional provision of services to Zambia’s largest bank, Zanaco. By dialling the Zanaco USSD code *444#, customers will be able to pay for TV services like Topstar, Zuku, and Muvi TV.

Not Cellulant’s first pay TV move

Cellulant, which has been in the Zambian market for over 10 years, has powered numerous banks’ digital transformation agendas. 

In a statement, Zanaco, which boasts over 2 million customers, said that the partnership is a strong indication of Zanaco’s growing appetite to innovate, showcasing the strengthening ties between banks and fintechs in the market.

Zoom out: According to a Dataxis 2022 report, 37% of households in Zambia access Pay TV services from leading providers such as Topstar. Television content is also increasingly becoming more locally oriented, which has produced the need to offer convenient and seamless payment methods to customers. 

9 AFRICAN STARTUPS GRADUATE FROM TECHSTARS TORONTO 2022

Startup accelerator Techstars Toronto has announced that nine African companies have graduated from its program. On a cohort basis, Techstars Toronto provides startups with capital, direct mentorship, and access to its network of seasoned entrepreneurs. This is its seventh cohort, and some of the graduating companies include: Glover Technologies, GIGXPad, Klas, Raenest, Fez, Renda, Simpu, LaborHack, and Mamy Eyewear. 

Starting with Metro African Xpress (MAX) in 2015, the accelerator has invested $120,000 ($100,000 convertible note and a $20,000 grant) in 29 African startups. Among the other businesses Techstars has worked with are Quidax, Altschool, Treepz, Healthtracka, Spleet, and Mycover.ai. Since graduating from Techstars, these startups have raised over $10 million in total.

TC INSIGHTS: FUNDING TRACKER

This week, Taeillo, a Nigerian furniture e-commerce platform, raised $2.5 million in equity funding from Aruwa Capital. 

Here are the other deals this week:

• Suplyd, a Egypt hotel, restaurant and catering procurement platform raised $1.6 million in pre-seed funding from Endure Capital, Seedstars, Camel Ventures, Falak Startups, Outlierz, Plus Ventures, Fort, Alex Angels, and other angel investors.
• Kenya-based company Myhealth Africa raised $1 million in seed funding, the round was led by GIIG Africa Fund, with participation from Japanese-based Samurai VC, a family office, and existing investors.
• Justyol, a Moroccan e-commerce venture, raised $350,000 in a pre-seed round from Earn Rocket investment holdings.

That’s it for this week!

Follow us on Twitter, Instagram, and LinkedIn for more funding announcements.

TC INSIGHTS: GROWTH HANDBOOK

Are you an early-stage startup trying to hack growth?

TechCabal Insights has created a handbook to help you on your growth journey. It contains useful insights from experts that touch on key areas such as building a growth strategy, maximising online and offline channels, building a strong community, and others.

In this handbook, we share some top tips and best practices for startups looking to scale their growth efforts and effectively reach their audience.

To get a sneak peek into the handbook, click here.

You can also pre-register here to get paid access once it goes live.

IN OTHER NEWS FROM TECHCABAL

MTN’s Ayoba app reaches 20 million monthly active users.

SA VC activity in 2022 and what to look forward to in 2023.

Kenyan healthtech startup, MyHealth Africa, raises $1 million.

• Binance – SEO Content Specialist – Lagos, Nigeria

• Klasha – Senior Product Manager, Senior Product Designer – Lagos, Nigeria

• ETAP – Growth Associate – Africa (Remote)

• Digital Vision East Africa Limited – Android Developer – Nairobi, Kenya

• Optica Limited – Data Analyst – Nairobi, Kenya

• Habaripay (GTCO) – Front End Developer, UI/UX Designer – Nigeria

• Fooji Inc –Full Stack Developer – (Africa) Remote

• MTN – Senior Manager, Digital Marketing – Nigeria

• Big Cabal Media – Learning & Development Executive, Software Developer, Commercial Director, Sales Associate – Lagos, Nigeria (Hybrid)

• Zikoko – Money Writer, Inside Life Writer, HER Writer, Copy Editor – Remote

There are more jobs on TechCabal’s job board. If you have job opportunities to share, submit them at bit.ly/tcxjobs. 

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