Funding

We Are Going to Build Uganda’s First Unicorn. – Easy Ride CEO

by Jonathan LAfricaBanking & InsuranceStartupsTechnologyThe Big StoryJanuary 17, 2025January 20, 2025

The insurance sector in Africa, particularly in Uganda, presents a remarkable opportunity for growth and innovation. With a penetration rate of only 0.85% in Uganda and under 3% across the…

Ugandan Startups Raise USD 19M in 2024.

by Jonathan LIndustry & AnalysisNews & AnalysisStartupsThe Big StoryWild Wild West UgJanuary 15, 2025January 20, 2025

Ugandan startups raised $19m in 2024, bouncing back from the lowly $4.8m that they raised in 2023 as per Africa: The Big Deal database.  Africa: The Big Deal database is…

After Raising a $30M Series B, Fido Credit Sets its Sights on Tackling Uganda’s Credit Gap.

by Jonathan LFintechsICTIndustry & AnalysisNews & AnalysisThe Big StorySeptember 13, 2024September 13, 2024

According to the International Financial Centre (IFC), Africa has a credit gap of $330 billion. Some estimates put this figure as high as $800 billion. Due to low banking penetration,…

South Africa Founded Fintech Omnisient Secures $7.5 Million Investment From Arise to Grow Financial Inclusion Across Africa and Beyond.

by Jonathan LAdvertising & CommunicationAfricaCompany NewsFinanceFintechsGlobal NewsICTIndustry & AnalysisThe Big StoryAugust 27, 2024August 27, 2024

South African fintech start-up Omnisient has received a $7.5 million investment from Arise, a company that invests in African financial service providers and fintechs that advance financial inclusion. Founded in…

Jumia’s Revenue Falls 25% in Q2 2024, Set to Raise $100m to Improve Cash Position.

by Jonathan LCompany NewsGlobal NewsICTIndustry & AnalysisStartupsThe Big StoryAugust 7, 2024August 7, 2024

Jumia Technologies AG, Africa’s e-commerce giant, has reported its financial performance for the second quarter of 2024, revealing a complex interplay of challenges and strategic responses. The company’s revenue for…

The Ten Biggest Funding Rounds Raised by Ugandan Startups from 2019 to 2024.

by Jonathan LIndustry & AnalysisStartupsThe Big StoryJuly 11, 2024July 11, 2024

Ugandan startups have increasingly become attractive to VC firms across Africa. Outside the big four of Kenya, South Africa, Nigeria and Egypt, Uganda regularly hovers next to them competing with…

Ugandan Fintech Chipper Cash Celebrates Major Milestone, Issues its One Millionth Virtual Card.

by Jonathan LFinanceFintechsICTIndustry & AnalysisNews & AnalysisSeptember 30, 2023September 30, 2023

Pan African fintech, Chipper Cash, has just hit a major milestone. They have issued over one million Chipper Cash virtual cards to people not only in Africa but also beyond….

How Ugandan Startups Can Reduce Burn Rate and Increase Runway Amid a Global Funding Winter. 

by Jonathan LFintechsICTStartupsThe Big StorySeptember 19, 2023September 19, 2023

In venture capital, a ‘funding winter’ denotes a prolonged period marked by reduced capital inflow, posing formidable challenges for startups seeking investment. During this financial downturn, startups often contend with…

Ugandan Fintech, Emata, Raises $2.4m to Expand its Agri-loan Services to East Africa

by Jonathan LFintechsICTStartupsThe Big StorySeptember 14, 2023September 14, 2023

Emata, a pioneering fintech and microfinance firm based in Uganda, has successfully secured $2.4 million in a seed funding round. The funds, which include $800,000 in equity and $1.6 million…

BNPL Startup, Lipa Later Raises USD 5m, Targets a Further USD 20m.

by Jonathan LEast AfricaFinanceFintechsICTStartupsThe Big StorySeptember 13, 2023September 13, 2023

Kenyan fintech powerhouse, Lipa Later Group, has successfully raised $5 million in a private debt issuance, marking a significant milestone in its financial journey. However, the company’s ambitious expansion plans…