The 5 most popular stories on Africa Private Equity News the past week

Here are summaries of the five most widely read stories the past week on Africa Private Equity News.

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Here are summaries of the five most widely read stories the past week on Africa Private Equity News.

1. EBRD partners with PE firms for Egypt microfinance investment

The European Bank for Reconstruction and Development (EBRD) is acquiring a minority equity stake in Tamweely Microfinance, an Egyptian non-bank financial services company, specialising in serving micro and small businesses.

The EBRD is co-investing with a consortium of investors comprising British International Investment, SPE PEF III (the new fund raised by SPE Capital) and Tanmiya Capital Ventures to fully acquire Tamweely Microfinance. Read the full article

2. FSD Africa Investments backs VC fund First Circle Capital

The FSDAi Nyala Facility, set up by FSD Africa Investments (FSDAi) to invest in emerging local capital providers, is injecting $1 million into Africa-based specialist VC fund First Circle Capital.

Run by former entrepreneurs and fintech executives Selma Ribica and Agnes Aistleitner Kisuule, First Circle invests in the continent’s most promising early-stage financial technology companies, leveraging the partners’ industry network and expertise. Read the full article

3. Talk360 secures $1.4m pre-Series A funding

Talk360, the international calling app, has raised $1.4 million in a pre-Series A funding round. This round was led by its long-standing investor, Havaic. This capital injection will drive the company’s goal of connecting seven million people by 2025 while strengthening its journey towards long-term profitability.

Talk360 is a South African and Dutch calling app that enables affordable international calls, requiring only the initiator to have the app and internet connectivity to reach any number globally. Read the full article

4. FlapKap secures $34m to scale SME-financing across MENA

Abu Dhabi-based FlapKap, a fintech platform providing revenue-based and embedded financing solutions in the Middle East and North Africa (MENA) region, has announced the completion of $34 million in new debt and equity funding.

The funding round was led by BECO Capital and welcomed significant new investment from Pact VC. The round also included follow-on investment from A15, Nclude, and QED Investors and debt financing from Channel Capital. This capital injection brings FlapKap’s total funding to $37.6 million. Read the full article

5. Egypt: Paymob lands additional $22m for Series B round

Egypt-based fintech company Paymob has raised a $22 million Series B extension round, taking its total Series B funding to $72 million.

The funding was led by EBRD Venture Capital with participation from Endeavor Catalyst. Existing investors PayPal Ventures, BII, FMO, A15, Nclude and Helios Digital Ventures also participated in the round. Read the full article

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