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Welcome to another edition of 🔍 Startup Researcher - Africa, your essential digest delivering the latest news and premium insights on startups and venture capital across the region 🌍

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📰 Important News

• US House passed a bill taxing non-citizen remittances 5%, raising costs for African migrants and fintechs like LemFi and NALA.

• Wahu Mobility struck a carbon credit deal with Switzerland to deploy 117,000 e-bikes and cut emissions by 2030.

• Terrahaptix won a $1.2 million contract to deploy AI drones and sentry towers to secure Nigerian hydroelectric plants.

• Vendease CFO Mohamed Chaudry exited as the firm restructured and shifted to a software-led model amid its Series A extension.

• Algeria’s NESDA launched 3 funding schemes offering up to $75,000 for startups, prioritizing youth and freelancers.

💸 Top Funding Rounds

• Thndr raised $15.7 million, launched Thndr Alpha and ThndrX, and is pursuing an asset management license to expand financial services.

• Sylndr secured $15.7 million to grow its tech-driven used car platform in Egypt, adding fintech tools to ease vehicle access and ownership.

• Carrot Credit bagged $4.2 million to expand across Africa, allowing users to borrow against stocks, crypto, and bonds without selling assets.

• Seeds & Pennies landed $1.1 million to grow inclusive retail lending and launch BNPL products for women-led and underserved Nigerian businesses.

• ElGameya closed a seven-figure round to scale its ROSCA-based savings app and boost financial inclusion in Egypt and beyond.

💰️ Notable Exits

• Catalyst Partners acquired digital lender Qardy for $23 million in Egypt’s first fintech SPAC deal, signaling rising investor confidence and regulatory support for innovative financing.

• MaxAB-Wasoko acquired Fatura to expand its digital retail and fintech reach in Egypt with EFG Finance joining as investor and board member to drive growth across Africa.

• Valu secured $27 million from Saudi investors and gained EGX listing approval as EFG Holding prepares to distribute shares and fuel Valu’s digital finance expansion.

🏦 About Investors

• Canadian investor Robert Herjavec joined “Shark Tank Egypt Season 4” as a guest shark, bringing global tech expertise to the region’s startup scene.

• CIB and Lantern Ventures formed a strategic partnership to support Egyptian SMEs by combining tailored financial services with hands-on operational and advisory support.

🚀 Startup of the Week

Introducing our Startup of the Week 🏆

Thndr

Thndr, an Egyptian fintech startup founded in 2019 by Seif Amr and Ahmad Hammouda, is rapidly evolving from a brokerage app into a full-spectrum financial institution focused on democratizing investment access in Egypt. The company recently raised $15.7 million in a funding round led by Prosus to fuel this growth, launching two new platforms: Thndr Alpha for beginner investors and ThndrX for professional traders, while also pursuing an asset management license to expand its offerings. This strategic move positions Thndr to lead financial inclusion and wealth-building efforts in Egypt’s burgeoning fintech ecosystem.

💼 Investor of the Week

Introducing our Investor of the Week 🏆

Robert Herjavec

Robert Herjavec, a Canadian-Croatian entrepreneur and investor renowned for his role on the U.S. “Shark Tank” and founder of a major cybersecurity firm, has joined Shark Tank Egypt Season 4 as a guest shark, bringing his extensive global tech and investment expertise to the region. His involvement underscores growing international interest in Egypt’s startup ecosystem and offers local entrepreneurs valuable mentorship, financial backing, and access to a broader network of investors. This collaboration marks an important milestone for Egypt’s entrepreneurial community, helping to elevate the country’s startups onto the global stage.

🤑 Opportunity Radar

Call for Applications: Entrepreneurs for Resilience programme

Apply to the Entrepreneurs for Resilience programme by June 1st, 2025, to accelerate your social enterprise’s impact in healthcare. This opportunity supports ventures using innovative brick-and-click delivery models that combine in-person and virtual care to improve access to quality primary healthcare for low-income communities in low- and middle-income countries. Partnering with leading organizations like the Digital Connected Care Coalition (DCCC), UBS Optimus Foundation, and Sanofi’s Global Health Unit, the programme offers funding, expertise, and a powerful network to scale your solution. Submit your application in English before the deadline and join a movement dedicated to bridging healthcare gaps globally.