Startups in Africa raising funds in the week of 10 November 2024

Kenya has the wind in its sails! Find out which African startups raised funds between 04 and 10 November 2024. This week, agritech startup Agventure Limited raised USD 9.5 million to develop regenerative farming practices and canola oil production.

Reminder: this article is sponsored by our partner WINVESTY. Are you looking for a Professional Fundraiser for your start-up or SME? Find out more about its WINVESTY Fundraiser programme.

Here is a summary of recent fundraising in Africa:

Oze - Fintech - undisclosed amount raised

• Amount raised Undisclosed (Visa Fintech Accelerator Program)
• Domain : Fintech / Financial services for SMEs
• Country of origin : Ghana
• Description Oze, a Ghanaian start-up, offers integrated financial services for small and medium-sized enterprises (SMEs). In partnership with the Visa Fintech Accelerator Program, Oze aims to strengthen SMEs' access to digital financial services, thereby promoting financial inclusion in Africa.

Workpay - HR SaaS - undisclosed amount of funds raised

• Amount raised Undisclosed (Visa Fintech Accelerator Program)
• Domain : HR technology / Payroll and compliance
• Country of origin : Kenya
• Description Workpay is a Kenyan-based HR technology platform specialising in payroll and compliance management for businesses. Thanks to Visa's investment, Workpay plans to expand its services to meet the needs of human resources management in Africa.

OkHi - Fintech - Fundraising for an undisclosed amount

• Amount raised Undisclosed (Visa Fintech Accelerator Program)
• Domain Digital address verification
• Country of origin : Nigeria
• Description OkHi: OkHi, a Nigerian start-up, offers a digital address verification solution designed to improve the accuracy and accessibility of address data. This partnership with Visa will enable OkHi to develop its services in Africa and facilitate access to financial services for users with no fixed address.

ORDA - Restaurant management software - fundraising amount disclosed

• Amount raised Undisclosed (Visa Fintech Accelerator Program)
• Domain : Restaurant management software
• Country of origin Nigeria, Kenya, South Africa
• Description ORDA: ORDA provides a software solution for digitising restaurant operations and serves more than 1,500 establishments in Africa. With the support of Visa, ORDA plans to strengthen its digital tools for restaurateurs in Africa and expand its activities in the region.

Agventure Limited - Agritech - USD 9.5 million fundraising round

• Amount raised USD 9.5 million (debt financing)
• Domain : Agritech / Regenerative agriculture
• Country of origin : Kenya
• Description Agventure, a Kenyan agricultural company, has secured USD 9.5 million in funding from AgDevCo. The funds will be allocated to the expansion of regenerative farming practices and the production of canola oil under the Pure Mountain brand, reinforcing the company's commitment to sustainability in agriculture.

These fundraisings illustrate strong support for innovation in key areas such as fintech, HR technologies, logistics and agriculture in Africa.