Raise Funding, Get Acquired or Shut Down!💰🚀🔒

⟹ 🚀 STARTUPS WATCH 🚀 ⟸

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

PropertyPro Africa Group is a leading real estate technology platform operating across Nigeria, Kenya, Zimbabwe, and Uganda, providing digital property advertising services. Founded in 2012 as Estanode.com and later rebranded to ToLet.com.ng in 2013, the company has evolved to become a prominent player in the real estate market.

In 2017, it acquired Jumia House Nigeria (Lamudi) and subsequently rebranded to PropertyPro in 2018. With a user-friendly design and innovative features like comprehensive price analysis data and intelligent filters, PropertyPro offers users access to the best market choices from their smartphones.

The company's leadership team, including co-founders Fikayo Ogundipe, Sulaiman Balogun, Oladapo Eludire, and Seyi Ayeni, brings a wealth of expertise in real estate, technology, and business development. With investments from top investors like Frontier Digital Ventures, Spark, and Jason Njoku, PropertyPro is poised for further growth and innovation in the real estate technology sector.

Partment is a digital platform revolutionizing second home ownership by breaking down traditional barriers and offering hassle-free co-ownership opportunities in prime locations at a fraction of the price. Founded in 2022 by a team with diverse expertise in business, technology, and real estate, Partment provides end-to-end property management services, ensuring livability and quality over time.

Backed by prominent international VCs, Partment combines transparent, accessible real estate investment with fractional ownership of vacation properties, allowing users to book their preferred days through a proprietary smart booking system.

Simpu aims to revolutionize business management by offering the simplest, most intuitive super app for running businesses. Addressing the fragmentation inherent in current business operations, Simpu streamlines tasks by consolidating customer data management, marketing campaign planning, process automation, and team and customer communication into one platform.

With Simpu, users can achieve these functions seamlessly and efficiently, eliminating the need for multiple apps or custom workflows, and importantly, without requiring any coding expertise.

⟹ 💼 💰️ VENTURE CAPITAL WATCH 💼 💰️ ⟸

In another great week in the VC space, about $7.5M was raised cumulatively by African Startups. Let’s break it down!

Moroccan agritech startup YoLa Fresh has secured $7 million in pre-Series A funding to revolutionize the fresh produce supply chain. Founded in 2023 by Youssef Mamou and Larbi Alaoui Belrhiti, YoLa Fresh connects smallholder farmers directly with traditional retailers, cutting out intermediaries. This approach has not only reduced food wastage significantly, from 25-40% to just 6-7% but also ensures better prices for farmers and lower costs for retailers. With plans to further reduce wastage to 3% by 2026, YoLa Fresh aims to utilize the funding to expand operations in Morocco and beyond, addressing similar supply chain challenges across Africa. The funding round was led by Al Mada Ventures, with participation from Algebra Ventures, E3 Capital, Janngo Capital, and FMO, highlighting investor confidence in YoLa Fresh's potential to transform the agricultural sector.

South African startup Orca Fraud has secured $550,000 in an oversubscribed pre-seed round to combat fraud in emerging markets. Founded by Thalia Pillay and Carla Wilby in January, Orca equips fraud analysts and compliance officers at banks and fintechs with essential tools. The funding, led by Norrsken22 with contributions from First Circle Capital, Musha Ventures, and Kara Ventures, will be used to expand Orca's team and refine its products with South African customers. Orca's tailored solutions address the specific fraud challenges faced by African banks and fintechs, aiming to enhance financial inclusion across the continent.

Johannesburg-based online marketplace for home services Kandua has been acquired by Santam, South Africa's largest short-term insurer. Founded in 2014 by Arjun Khoosal and Sayo Folawiyo, Kandua connects over 40,000 vetted home service companies to customers for tasks ranging from small fixes to major renovations. Having raised significant pre-Series A funding in 2021, Kandua will now merge with Santam's Home+ service, forming an independent subsidiary. This strategic acquisition aims to enhance Santam's digital innovation and market expansion. Kandua for Business, which integrates services into retailers’ and insurers' value chains, will continue under Santam, promoting job creation and financial inclusion. Folawiyo will remain as CEO of Kandua.

⟹ 📺️ MEDIA WATCH 📺️  ⟸

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

1. YoLa Fresh, a GrubMarket for Morocco, digs up $7M to connect farmers with food sellers - Techcrunch

2. SA’s Orca raises $550k to fight fraud in emerging markets - Disrupt Africa

3. Kenyan AI startup Chpter joins Safaricom’s Spark Accelerator - Techcabal

4. Paystack-led consortium acquires Brass, replaces CEO - Techcabal

5. SA home services marketplace Kandua acquired by Santam - Disrupt Africa 

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 happy to hear from our readers.

Thanks for reading. Have a great weekend ahead.

Gitonga, the Stoic Founder at StartupHub.Africa 🚀

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