💰️ Money Bags Season!💰️

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⟹ 🚀 STARTUPS WATCH 🚀 ⟸

Here are the 5 top startups in the African eco-system we think you need to know:

Dabchy, based in Tunis, Tunisia, is a localized fashion marketplace that empowers women to buy and sell new or used clothing online. The platform promotes sustainability and economic empowerment by allowing women to earn money while discovering items at up to 70% off retail prices.

Dabchy offers door-to-door delivery for a seamless buying and selling experience, ensuring secure transactions with guaranteed reimbursement and free returns if items don’t meet expectations. By fostering a vibrant community of fashion enthusiasts, Dabchy is transforming the fashion landscape in Tunisia, creating opportunities for financial independence and promoting a sustainable approach to fashion consumption.

SureGifts, based in Nigeria, is the leading aggregator and distributor of gift cards for corporate rewards and loyalty programs. As pioneers of the online gift voucher redemption system, SureGifts partners with over 200 merchants to provide businesses with innovative solutions for employee motivation and consumer appreciation.

The platform simplifies the gifting process, allowing organizations to buy and send gift cards in just three easy steps. SureGifts also develops custom loyalty platforms tailored to specific business needs and integrates with existing solutions for seamless point-voucher conversion and redemption. By making corporate rewards accessible and efficient, SureGifts helps organizations foster strong employee and customer relationships.

Hoods is a live commerce platform founded in late 2020 by Mostafa Hanafi and Waleed Ghalwas. It allows shoppers to discover and compare brands through engaging live video interactions, creating a seamless and entertaining shopping experience.

The platform connects vendors, content creators, and shoppers, enabling them to execute retail transactions in a fun environment. Hoods also features a talent community where users can create videos, tag products, and monetize their content. By empowering creators to explore and showcase their talents, Hoods is revolutionizing social entertainment shopping.

⟹ 💼 💰️ VENTURE CAPITAL WATCH 💼 💰️ ⟸

It was a very busy week in the VC Space with several African startups raising funding and debt capital. Close to $50M was raised in a mixture of debt and equity. Let’s deep dive into a few of the key events.

Kenyan electric bus startup BasiGo has raised $41.5 million—a mix of $24 million in Series A equity and $17.5 million in debt funding. Led by Africa50, British International Investment (BII), and the U.S. Development Finance Corporation (DFC), the funds will support fleet expansion from 119 to 1,000 electric buses across Kenya and Rwanda. Launched in 2021, BasiGo has already transported over 4 million passengers while cutting greenhouse gas emissions by 1,175 tonnes. The new capital will also scale its pay-as-you-go model and assembly operations to promote affordable, emissions-free transportation in East Africa.

South African e-commerce logistics startup Pargo has raised $4 million to fuel its expansion into Egypt, launching 500+ Pargo Points for its Collect and Return services. Founded in 2015, Pargo connects platforms like Amazon, Noon, and Jumia with over 10 million online shoppers. Led by 3Capital Ventures, the funding will also support future growth, with plans to reach 7,000 pickup points across the region by 2026. Pargo’s “Cash on Collection” feature caters to Egypt’s cash-based economy, enhancing access to affordable, tech-enabled delivery solutions.

Nigerian fintech startup Klasha has raised an additional $2 million to expand its B2B cross-border payment rails into China. Founded in 2021 by Jess Anuna, Klasha’s platform enables seamless money transfers across emerging markets, handling over 120 currencies. The new funding will support the opening of a Hangzhou office and deepen partnerships with Asian companies, including Coda Pay, Fomo Pay, and the Chinese Chamber of Commerce in Yiwu. With total funding now at $6.5 million, Klasha aims to boost B2B payments between Africa and Asia and drive sustainable growth.

Egyptian micromobility startup Rabbit Mobility has raised $1.3 million to expand its fleet of electric scooters across Egypt and North Africa. Founded in 2020, Rabbit has completed over 1 million rides for more than 450,000 users. The funding round, led by 500 Global and Untapped Global, will support Rabbit’s rapid growth and enhance its user experience. With plans to scale operations further and achieve profitability by year-end, Rabbit aims to make micromobility more accessible and convenient across the region.

Nigerian B2B e-commerce startup OmniRetail has acquired Traction Apps, a payment provider and inventory management platform for small businesses, to enhance its financial services for SMEs in the FMCG sector. The acquisition will integrate Traction’s POS services with OmniRetail’s OmniPay platform, targeting over ₦1.8 trillion in annual payment processing and ₦200 billion in yearly loans. Facilitated by Venture Platform, the merger enables both companies to simplify payments, credit access, and loyalty solutions for retailers. Traction’s founders, Mayowa Alli and Dolapo Adejuyigbe, will join OmniRetail’s leadership to accelerate product development, with full integration set for Q1 2025.

👀 This week’s featured investor is Moxxie Ventures. 👀

Moxxie Ventures backs exceptional founders building products that make life and work better. Focused on early-stage investments, the San Francisco-based firm brings a wealth of operating experience, a diversified network, and deep determination to help founders succeed.

Founded in 2019, Moxxie Ventures has invested in a wide range of innovative startups, including BasiGo, Carta, Clubhouse, Overstory, and Heirloom Carbon. Their portfolio spans various sectors, from financial services and clean energy to health-tech and consumer apps.

The firm emphasizes the importance of relationships, working closely with founders, operators, and policymakers to foster impactful collaborations. Beyond capital, Moxxie delivers strategic guidance across product, engineering, marketing, and business development to empower entrepreneurs.

Moxxie Ventures aims to partner with founders who share their vision of creating products that truly matter—bringing both heart and expertise to the table. 🌱✨

⟹ 📺️ MEDIA WATCH 📺️  ⟸

Here are the 5 key things in the news this week that you need to know:

1. Egypt’s Rabbit Mobility raises $1.3m to fuel expansion plans - Disrupt Africa

2. Madica backs Nigerian clean energy startup Earthbond with $200,000 - Techcabal

3. BasiGo raises $41.5 million to put electric buses on the road - Techcabal

4. SA e-commerce logistics startup Pargo raises $4m, expands to Egypt - Disrupt Africa

5. IHS secures $439m loan to refinance debt and support expansion - Techcabal

And that’s your weekly dosage of the African startup ecosystem! If you have any comments or feedback, just respond to this email. We are always looking to hear from our community.

Thanks for reading. See you next week.

Gitonga, the Stoic Founder at StartupHub.Africa 🚀

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