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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 🌍

If you haven't subscribed yet, now's the perfect time. Don't miss the opportunity to supercharge your understanding and stay ahead in this dynamic world.

Let's delve into the core sections of our weekly newsletter:

• 📰 Important News

• 💸 Top Funding Rounds

• 💰️ Notable Exits

• 🏦 About Investors

• 📈 Deep Dive Bites

• 🚀 Startup Of the Week

• 💼 Investor of the Week

• 🤑 Opportunity Radar

📰 Important News

• US-based Mercury Bank will stop supporting users from 15 African countries, including Nigeria, by August 22, 2024, affecting many African startups reliant on its services.

• MNT-Halan, Egypt’s top fintech, is expanding into Turkey by acquiring Tam Finans, a major commercial finance company with a $300 million loan book, from Actera Group and the EBRD.

• Shell Egypt, in partnership with Flat6Labs, has relaunched its Intilaaqah program to support over 1,000 young entrepreneurs yearly through matchmaking and incubation.

• Nigeria has unveiled a strategy to boost Africa’s digital trade, focusing on the AfCFTA Digital Trade Protocol, technical talent hubs, and enhanced digital infrastructure.

• Tracey Turner is launching a new Kenyan eCommerce startup for household items, just two months after Copia Global’s administration; former Copia CEO Tim Steel is rumored to join, with three investors already secured.

💸 Top Funding Rounds

• Egypt’s MNT-Halan has secured $157.5 million in funding, including $40 million from the IFC, with additional contributions from DPI, Lorax Capital Partners, Apis Partners, Lunate, and GB Corp.

• Intron Health has raised $1.6M in pre-seed funding for its clinical speech recognition technology, led by Microtraction.

• South African climate-tech startup Plentify has closed an oversubscribed funding round with top African and North American investors to accelerate its growth and begin international expansion.

• Sycamore won the $100,000 NSIA Prize for Innovation, with Kunda Kids and PaveHQ taking $70,000 and $50,000 respectively, totaling $220,000 in prizes for the top three startups.

💰️ Notable Exits

• After initially entering the African market through South Africa in 2022, Ticketmaster is continuing its expansion in the continent through the acquisition of Kenya’s Quicket.

• South African digital payments provider Peach Payments has acquired customer software firm Operativa, marking its first deal since securing $31 million in funding from Apis Growth Fund II last year.

• Risevest is in talks to acquire Kenyan fintech Hisa, aiming to expand into Kenya's market and simplify regulatory requirements by leveraging Hisa's existing licenses.

🏦 About Investors

• Last week, Launch Africa revealed its Q1 2024 investment in Shiprazor, an aggregator platform focused on e-commerce logistics in Kenya and South Africa.

📈 Deep Dive Bites

Explore the rising trend of Middle Eastern venture capital firms investing in African startups. This comprehensive guide profiles 20 key investors from Dubai to Riyadh who are bridging the MENA-Africa investment gap, providing details such as the number of investments in African startups, their leadership teams, and notable African portfolio companies.

🚀 Startup Of the Week

Introducing our Startup of the Week 🏆

MNT-Halan

MNT-Halan, Egypt's largest fintech and unicorn, recently secured $157.5 million in funding. The company has also acquired Tam Finans, a leading Turkish commercial finance company with a loan book exceeding $300 million. This acquisition marks MNT-Halan's entry into the Turkish market, allowing it to introduce its innovative digital financial solutions beyond Egypt's borders. Founded in 2017, the company offers a wide range of financial and non-financial services, focusing on enhancing financial inclusion in Egypt. These services span from lending and e-commerce to payments and logistics.

💼 Investor of the Week

Introducing our Investor of the Week 🏆

Microtraction

Microtraction is an early-stage venture capital firm that invests in African startups at the pre-seed stage, focusing on high-growth, technology-driven businesses across various sectors. The firm typically invests $100,000 in startups with a validated market demand and a minimum viable product, often led by technical founders. Microtraction plays a key role in developing Africa's tech ecosystem, with recent investments including a $1.6 million pre-seed round for Intron Health, a health tech company creating speech recognition technology for diverse accents.

🤑 Opportunity Radar

Antler Kenya

Apply to the Antler program in Nairobi by Aug 26, 2024, to ignite your entrepreneurial journey. As a day zero investor, Antler supports driven founders in Kenya’s dynamic startup ecosystem. This full-time, in-person program is designed for individuals with strong business and technical backgrounds eager to launch impactful companies addressing significant challenges in Africa. At Antler, you'll connect with co-founders, validate your ideas, and secure capital to supercharge your startup’s growth. Start your Antler journey today and become part of a global network of innovators shaping the future.