Business Description: Piggyvest is the largest online savings & investment platform operating in Nigeria for over 9 years, with over 5.7 million registered users. Piggyvest gives you access to simple ways to save, invest, and manage your money. Piggyvest is the first online “Savings & Investment” app in West Africa. It first launched as “Piggybank.ng” on the 7th of January 2016 as a savings-only platform. For 3 years, it offered only savings to its users. Then, in April of 2019, it rebranded to “PiggyVest” and began offering direct investment opportunities to users in addition to savings. 10 years on, it has continued to deliver excellent service to our 6,000,000 users and counting, helping them manage their finances with simplicity and transparency. Combined, its users save & invest billions of Naira every month that they would have instead spent. PiggyVest is on a mission to give everyone the power to better manage and grow their finances, and we intend to be the best at this.
Total Funding: $4.2 million
PiggyVest
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Agridex lands backing from Launch Africa Ventures to tackle Africa’s agricultural trade settlement bottlenecks
June 12, 2026
Founded in 2020, the London-based Agridex operates as a B2B payments infrastructure provider for exporters and importers of agricultural commodities such as coffee, tea, flowers, and grain.
Nigerian InsurTech startup Myka raises pre-Seed funding to boost mass-market insurance distribution
June 12, 2026
The fresh capital will support Myka's mission to build digital infrastructure for mass-market insurance distribution across Nigeria.
African entrepreneurs take home over $5 million at Cascador Pitch Day 2026
June 12, 2026
The event was hosted by Cascador, an Africa-focused platform supporting founders building businesses with measurable social impact.
Morocco’s PropTech startup Agenz raises $5 million to digitise real estate transactions
June 11, 2026
Founded in 2021 by brothers Malik and Badr Belkeziz, Agenz was built to address a longstanding problem in Morocco's property market.
Meet the 13 startups joining EdVentures and Mastercard Foundation’s Cohort 3 of the EdTech Fellowship in Egypt
June 11, 2026
The Mastercard Foundation EdTech Fellowship is an entrepreneurship acceleration programme designed to support promising African EdTech companies.
Nigeria’s CreditChek raises $600k to scale credit data infrastructure across East Africa
June 8, 2026
CreditChek enables FinTechs, lenders, and financial institutions to assess risk, reduce defaults, and scale lending through credit and alternative data.
Egyptian FinTech Blnk secures $37.1 million in equity and debt to scale AI-powered consumer credit
June 8, 2026
The equity round was led by Algebra Ventures, with participation from SANAD Fund for MSME, Endeavor Catalyst, and Emirates International Investment Company (EIIC).
3IF Ventures hits $12 million first close to back Africa’s early-stage insurance startups; eyes $30 million final close
June 5, 2026
The fund targets a final close of $30 million and plans to make between 15 and 20 portfolio investments.
South Africa’s Breaze Delivery secures $1.23 million to scale on-demand delivery infrastructure for SMEs
June 5, 2026
Founded in 2021 by entrepreneurs Avi Maja and Braden Snyman, Breaze Delivery offers customised, on-demand and same-day delivery solutions to SMEs across South Africa.
BluePeak invests $16 million in Côte d’Ivoire’s Groupe Centaures to scale sustainable logistics across West Africa
June 4, 2026
The deal is structured as a sustainability-linked loan tied to measurable greenhouse gas (GHG) emissions reduction targets.
AethexAI emerges from stealth with $3 million pre-Seed round to build voice AI for Africa and the Middle East
June 4, 2026
The company's core product is Kora 1, a proprietary model stack trained on real conversational speech with human-labelled data across emerging markets.
Afreximbank’s equity investment arm FEDA appoints Emmanuel Assiak as CEO
June 3, 2026
Assiak is no stranger to the institution. He has been part of FEDA's story from the beginning, serving successively as Pioneer Director, Managing Director and Chief Investment Officer for over six years.
Nigeria’s Lagos Angel Network backs Midddleman Technologies to build the AI-powered operating system for Africa-China trade
June 3, 2026
The deal brings not just capital but also strategic support and network access to a startup that has quietly racked up over $1.6 million in payment volume since launching its payments product in May 2024.
EU-backed Challenger Digital & Green Accelerator awards €50,000 to these six African startups in debut cohort
June 2, 2026
The Challenger Digital & Green Accelerator was launched to support entrepreneurs from Eastern and Southern Africa tackling environmental and economic challenges through technology-driven innovation.
FASA commits $5 million to Catalyst Fund as pan-African climate VC reaches $30 million in capital commitments
June 2, 2026
FASA was established to channel catalytic capital into investment funds that support agricultural small and medium-sized enterprises across the continent.
Spiro raises $215 million to expand electric mobility and battery-swapping network across Africa
June 1, 2026
Spiro recently acquired India-based Coexlion, an international motorcycle engineering and design firm, in a move that will also see the company open its first African R&D centre in Kenya.
Acquisitions, News, South Africa
South African FinTech Yoco acquires Dyner.ai to bring AI-powered operational tools to independent businesses
June 1, 2026
The transaction marks a significant step in the payments company's evolution into a broader commerce platform.
Meet the African startups that raised funding in May 2026; 9 of them are hiring right now
May 29, 2026
Below are the African startups that announced funding rounds or strategic investment backing in May 2026, and several of them are hiring.
Belmoney and DigiPay launch DigiTransfer to power France-Belgium remittances to Congo and the DRC
May 28, 2026
The app, available on both Android and iOS, allows users to send funds directly from their smartphones into mobile money wallets and bank accounts in both the Republic of Congo and the DRC.
Wasoko founder Daniel Yu launches Africa Jobs Fund to mobilise $100 million towards labour mobility and export manufacturing
May 28, 2026
The fund is co-founded by Daniel Yu, who previously built Wasoko into Africa's largest B2B e-commerce company, and Ben Hyman, founder of Talent Safari.
AHL Venture Partners hits $30.5 million first close for Africa Credit Fund I to back African businesses with flexible debt
May 27, 2026
The AHL Africa Credit Fund I is anchored by the AHL Charitable Foundation (AHLCF) and backed by three family offices.
Egypt’s MoneyHash taps Ozow veteran Hwan Lee to spearhead Africa growth strategy amid rising demand for payment infrastructure
May 27, 2026
Lee brings over eight years of FinTech experience to the role, most recently as Head of Partnerships at Ozow, one of South Africa's leading payments companies.
Nigeria’s OPay adds Google-backed Innovation Challenge to its $874k scholarship programme
May 26, 2026
Now rebranded as OPay Scholars for its 2026 edition, the programme is also adding an Innovation Challenge developed in partnership with Google and OPay Futures.
Africa GreenCo secures $10 million from Sanlam Alternative Investments to scale renewable energy trading across Southern Africa
May 26, 2026
The transaction gives Sanlam Alternative Investments a 10% stake in GreenCo and is intended to further expand the company's electricity trading operations across the Southern African Power Pool (SAPP).
South Africa’s Mia Healthcare raises $910k to expand affordable dental clinics and locally made aligners
May 25, 2026
Founded by Dr Zane Stennings and Dr Karishma Soni in 2021, Mia Healthcare is on a mission to improve access to affordable dental and orthodontic care across Southern Africa.
African Space Agency and ESA seek African Earth Observation startups and SMEs for new innovation programme
May 22, 2026
he programme is designed to help African Earth Observation (EO) startups and small and medium-sized enterprises (SMEs) sharpen their commercial offerings, validate their solutions in the market, and scale their businesses.
Egypt’s ARRW secures $4 million from Tasheed Egypt to scale its licensed ride-hailing platform
May 21, 2026
The capital will be deployed across platform expansion, driver network growth, and technology development.
Impact Fund Denmark invests $25 million in New Forests Company to triple forest area and curb East Africa’s timber import reliance
May 20, 2026
The capital injection will significantly expand NFC's plantation footprint and strengthen local timber production across East Africa.
Nigerian-founded LemFi secures investment from Tether to power stablecoin remittances across Africa and Asia
May 19, 2026
Tether, issuer of USD₮, the world's most widely used stablecoin, announced the investment without disclosing the financial terms.
Lightrock closes $500 million Accelerate7 fund to back energy access startups across Africa and Asia
May 18, 2026
The strategy targets three core sectors: Access to Electricity, Clean Cooking, and Enabling Technologies and Solutions such as electric mobility and energy storage.
Cairo-based GrowthLabs acquires Startup Gate, merging incubation tech and founder networks under one platform
May 18, 2026
The integration creates a unified platform that redefines how startups are discovered and supported by connecting community, data, and execution.
Acquisitions, News, South Africa
South Africa’s HOSTAFRICA acquires Zanode to bring git-driven, AI-ready app deployment to local developers
May 15, 2026
The acquisition will help HOSTAFRICA expand its offering beyond traditional web hosting into developer-first infrastructure built for the AI era.
France’s Mistral AI partners with Kenya’s Qhala to launch AI Accelerator Bootcamp for African founders
May 15, 2026
The partnership will see Mistral AI launch a flagship programme aimed at nurturing the continent's next generation of AI-driven startups.
Digital Africa launches DA Seed Fund to bridge Africa’s Seed-stage financing gap across 20 countries
May 14, 2026
Announced at the Africa Forward Summit in Nairobi on 12 May 2026, the fund will target around 30 startups across nearly 20 priority countries.
Ruka closes $4.5 million round to challenge the hair extensions industry with lab-grown alternatives
May 14, 2026
The round was co-led by Henkel Ventures, the corporate venture capital arm of the German conglomerate behind haircare giants Schwarzkopf and got2b, and Freedom Trail Capital.
Nigeria’s Jiji acquires Bangladesh’s Bikroy, marking first deal outside Africa
May 13, 2026
The deal marks one of the rare instances of an African tech company buying a major Asian digital platform.
Nigeria’s MAX secures $8 million in debt funding to scale EV fleet and battery swap infrastructure across Africa
May 13, 2026
The funding will be used to accelerate the expansion of its clean transportation operations across the continent.
Cauridor secures $2 million from France’s Proparco to expand cross-border payment infrastructure across West and Central Africa
May 12, 2026
The funding is part of Cauridor's ongoing Series A funding round and brings its total funding to date to $13 million.
After EIB and IFC backing, Biovac secures $20 million from France via Proparco to boost African vaccine sovereignty
May 12, 2026
The deal was announced on the sidelines of the Africa Forward Summit, jointly organised by France and Kenya in Nairobi.
Egrobots launches first autonomous agricultural harvesting robot developed by Egyptian engineers
May 11, 2026
Developed entirely by Egyptian engineers, the robot brings a fundamental shift in agricultural automation and smart farming.
Cameroon’s AI waste recycling startup BleagLee wins $1 million Milken-Motsepe Prize; meet the other winners
May 11, 2026
Since its launch in 2021, the Milken-Motsepe Innovation Prize Programme has awarded more than $8 million in funding to over 50 innovators worldwide.
Egypt’s EdVentures named Investor of the Year at Global Startup Awards Grand Finale during EU-Startups Summit 2026
May 8, 2026
The global finalists were selected following the processing of more than 70,000 nominations, extensive jury evaluations, and regional competitions spanning six continents.
Interview: MedRef Healthbridge advances to Global Startup Awards Grand Finale with a mission to make African healthcare more accessible and affordable
May 7, 2026
In this interview, Ssekyanzi discusses MedRef Healthbridge’s journey, early challenges, traction, partnerships, funding plans, long-term vision for Africa’s HealthTech ecosystem, and what he hopes to gain from the Global Grand Finale.
Acquisitions, News, South Africa
Paymenow and PayCurve merge to build South Africa’s first end-to-end employee financial wellness platform
May 6, 2026
The combined business will operate under the Paymenow brand and create South Africa’s first fully integrated employee financial wellness platform.
dLocal and inDrive team up to bring cashless ride payments and instant driver payouts to South Africa
May 6, 2026
As part of this tie-up, inDrive passengers can now pay by card directly within the ride-hailing app, while drivers will receive their earnings through local South African payment rails.
South Africa’s Xago joins forces with French FinTech firm NGPES to streamline cross‑border payments
May 5, 2026
The partnership links the blockchain-powered payment network of Xago with NGPES's EU-regulated FinTech infrastructure.
Kenya’s Cloud9 acquires MTickets to bring credit and payments into Africa’s events economy
May 5, 2026
The tie-up is designed to embed financial services directly within the ticketing experience, eliminating friction for both consumers and event organisers while creating new financial opportunities across the board
Meet the 20 startups joining ClimaFii Alliance’s second cohort to scale ClimateTech across Africa
May 4, 2026
Supported by Shell Foundation and the UK's Foreign, Commonwealth and Development Office (FCDO), and implemented across Africa by BFA Global and Accion, the ClimaFii Alliance was officially announced in January 2025.
South Africa’s OneBio Venture Studio hits $5.9 million first close for second fund, eyes $17.8 million target
April 30, 2026
It aims to co-create companies from the ground up by providing not just capital but operational support, scientific expertise, and go-to-market infrastructure.
South Africa’s Secha Capital reaches second close of $40 million SME fund, targets final close by July 2026
April 29, 2026
The fund, which targets small and medium-sized enterprises in South Africa’s productive economy, has already deployed 40% of its capital across eight businesses.
Nairobi-based WildMango partners with OpenAI to bring advanced AI to Africa
April 29, 2026
The deal is designed to put OpenAI's artificial intelligence tools and frontier models within the reach of African businesses, developers, and institutions.
Nigerian-founded LemFi picks London as global HQ, commits $134.9 million to UK expansion
April 28, 2026
The announcement, made on 28 April 2026, came during the historic UK state visit of Nigerian President Bola Tinubu.
Ethiopia’s Dodai raises $13 million to scale electric motorbikes and battery swapping across Africa
April 28, 2026
With the new capital, Dodai aims to reach 3,000 battery swapping users supported by 30 battery swapping stations across Addis Ababa within the next 12 months
Studia Inc partners with D.IA Advisory to help African governments digitise civil records and build inclusive identity systems
April 27, 2026
Studia Inc converts physical civil records into structured, searchable digital data at an industrial scale.
South African hair care brand Love Kinks lands funding to stock shelves and scale fulfilment
April 27, 2026
Founded by Sinovuyo Mondliwa in 2016, Love Kinks was built from the ground up to serve a market that had historically been underserved by mainstream retail.
Acquisitions, News, South Africa
South Africa’s Vertice MedTech acquired by this investor consortium: Know more
April 24, 2026
Ethos Private Equity, which had backed the company since it was founded in 2018 alongside a management group led by Hendri Pretorius, has exited the company.
19-year-old Thiel Fellow-led Swoop scoops $7.3 million to launch food delivery in Lagos, aims to become a super app
April 24, 2026
The startup also aims to eventually become a pan-African super app offering food delivery, groceries, and pharmacy services.
Inspired Evolution invests $40 million in CrossBoundary Energy to expand renewable energy projects in sub-Saharan Africa
April 23, 2026
The investment has been made through Inspired Evolution’s next-generation energy transition fund, Evolution III.
Meet the 15 AI-driven startups selected for the Google for Startups Accelerator Africa programme Class 10
April 23, 2026
Since its launch in 2018, the Google for Startups Accelerator Africa programme has supported 106 startups from 17 African countries.
Botswana Tech Fund launches $67.5 million venture fund to back Southern Africa’s digital economy
April 22, 2026
The fund is anchored by Pula Investments, the family office of Stephen Lansdown CBE, founder of Hargreaves Lansdown, and powered by Launch Africa Ventures, the pan-African VC firm focused on early-stage African startups.
Female-led VC firm Jambaar Capital invests in TrashCoin, the startup turning recyclable waste into digital cash
April 22, 2026
The company says its operations are already diverting enough material from landfills and roadsides to offset more than 750 tonnes of CO2 emissions monthly.
Nafasi Water raises $9.7 million to deliver scalable, sustainable water solutions across Southern Africa
April 21, 2026
The company will use the funding to rehabilitate water catchments in mining-affected areas, expand water reuse infrastructure at the municipal level, and advance technologies for complex water reclamation.
Liquid Intelligent Technologies closes $660 million debt deal, as $300 million Eurobond draws 2.5x oversubscription
April 21, 2026
The bond, listed on Euronext Dublin and issued under Rule 144A/Regulation S, formed the centrepiece of a broader debt paydown and refinancing completed by Liquid Intelligent Technologies.
Nigeria’s Terra Industries to open continent’s largest drone factory in Ghana to advance African defence sovereignty
April 20, 2026
Called Pax-2, the 34,000-square-foot facility will be Terra's second manufacturing facility and serve as its primary regional defence manufacturing base for drone and counter-drone systems.
Egypt’s MoneyHash and Visa deepen ties to scale Cybersource across MENA payments infrastructure
April 20, 2026
The two companies entered into an initial collaboration in 2024 and are now expanding that partnership with a formal commitment to scaling Visa's Cybersource platform across MoneyHash's infrastructure in the MENA region.
South African MedTech startup AI Diagnostics raises $5.1 million to scale AI-powered TB screening
April 17, 2026
The round was led by The Steele Foundation for Hope, with participation from the iFSP Group and the Global Innovation Fund (GIF), along with follow-on contributions from key early angel investors.
South Africa’s Biovac lands funding from EIB, IFC to build Africa’s first end-to-end multi-vaccine manufacturing site
April 17, 2026
As part of the funding, Biovac will receive a $88 million (€75 million) quasi-equity investment from the EIB Group and a $20 million senior loan from the IFC.
Partner Africa acquired by Goldman Sachs-backed LRQA to scale responsible business practices across the continent
April 16, 2026
The deal is Birmingham-based LRQA's first in Europe, the Middle East and Africa (EMEA) region and the latest in a series of acquisitions by the company
NITDA launches cybersecurity training to put Nigerian women at the forefront of digital security
April 16, 2026
The initiative places Nigerian women at the centre of the country's efforts to build a resilient and inclusive digital security ecosystem.
African Development Fund grants $3.05 million to bolster West Africa’s private sector
April 15, 2026
The grant targets all eight WAEMU member states: Benin, Burkina Faso, Côte d'Ivoire, Guinea-Bissau, Mali, Niger, Senegal, and Togo.
NectarFi emerges from stealth with pre-Seed funding to build an all-in-one crypto finance platform
April 15, 2026
During the beta testing, the startup onboarded over 1,000 users and processed more than $7.2 million in transaction volume before its first public day.
Pan-African payments startup Cauridor appoints ex-Flutterwave operations leader Awa Koné as COO
April 14, 2026
The appointment comes as the company looks to scale the operational infrastructure behind its pan-African payments network.
Acumen backs female-led Nigerian startup Pullus to fix the poultry market for smallholder farmers
April 14, 2026
The investment backs the women-led company's mission to build fairer, more reliable poultry markets for smallholder farmers across Nigeria.
Meet the 10 startups shortlisted for Qualcomm’s 2026 Make in Africa Startup Mentorship Programme
April 13, 2026
This year's cohort was selected from a record pool of over 1,200 applications across more than 45 African nations.
Lagos-based PowerLabs lands Breega-led pre-Seed round to scale intelligent energy orchestration across Africa
April 13, 2026
The funding will help the African startup accelerate the rollout of its Pai Enterprise, the AI-enabled energy orchestration platform, across commercial and industrial enterprises in Nigeria.
Madica backs three African startups with $600k; unveils guidebook to pre-Seed fundraising in Africa
April 10, 2026
Madica has also launched the inaugural edition of its fundraising guidebook series, 'Zero to Funded: A Founder’s Guide to Pre-Seed Fundraising in Africa.'
Meet the African startups that raised the top 10 funding rounds in Q1 2026; 5 of them are hiring right now
April 9, 2026
In this list, we spotlight the 10 largest startup funding rounds announced across Africa in Q1 2026.
Kenyan aquaculture startup Victory Group secures $15 million to scale Nile tilapia production across East Africa
April 8, 2026
The financing will fund Victory Group’s next expansion phase, including several new farming sites in Kenya and Rwanda
Egypt’s Lucky secures $23 million after hitting profitability in 2025, gears up for neo-banking push
April 8, 2026
The latest funding round comes after the company reported a threefold year-on-year growth in 2025 and achieved profitability by the end of the same year.
Egypt’s Reme.D secures $500k to scale affordable, cold-chain-free diagnostics across Africa and the Middle East
April 7, 2026
Founded in 2022 by Salma Tammam, Reme.D develops and manufactures disease diagnostic testing systems that are suited for use in low-resource settings.
z.systems closes $1.65 million Seed round to digitise traditional retail in Morocco, eyes pre-Series A
April 7, 2026
The company also revealed that it is preparing for a Pre-Series A round in the coming months.
Mauritius Commercial Bank secures $100 million climate finance facility to back Africa’s climate transition
April 6, 2026
This latest facility marks MCB's second climate financing line, following a $120 million facility signed with Proparco and DEG in November 2023.
African FinTech unicorn Flutterwave secures Nigerian banking licence
April 6, 2026
This license enables the company to hold funds and deposits directly, thereby enabling more efficient financial services and settlement flows for consumers, businesses and enterprises.
Uganda’s Sawa Energy secures $10 million debt scale solar solutions for 250 East African businesses
April 2, 2026
Sawa Energy will use the capital to roll out its solar and battery systems in East Africa, targeting 35MW of capacity across 250 C&I projects over the next 36 months.
Nairobi-based Novastar Ventures closes third fund at $147 million, one of Africa’s largest climate-focused VC funds
April 2, 2026
In addition to its existing presence in East and West Africa, Novastar will now invest in startups in Egypt and South Africa.
African FinTech unicorn Moniepoint makes Kenya debut through Sumac Microfinance Bank acquisition
April 1, 2026
Nigerian FinTech unicorn Moniepoint announced today that it has completed the acquisition of Nairobi-based Sumac Microfinance Bank Limited.