Page 3 - Magic Fund News Today

In terms of funding, this year has been a generally satisfying one for the Nigerian tech ecosystem, as venture capitalists continue to pump money into startups in the country — more than any of its counterparts on the continent. According to the Africa Tech and Fintech report by Renaissance Capital, Nigerian startups raised $678 million in

Nigerian Sovereign Investment Authority (NSIA) will launch the maiden edition of the NSIA Prize for Innovation Programme (NPI) on Saturday, December 10.

Investors at D2C startup Kloud Commerce have accused founder Olumide Olusanya of mismanagement of funds and fraud.

Bumpa, a Nigerian retail automation platform, gets $4 million from Base10 and other investors to scale into other countries.

Bumpa, a social commerce startup in Nigeria, has raised $4 million in a seed round to grow its team and reach new markets in Africa.

Months after foodtech Kune shut down for similar reasons, another Kenyan startup, Sky.Garden, is facing closure. In termination letters to employees, the CEO revealed that the company was running out of money & would close down in October.

Vendease has in equity and debt funding round raised $30 million, as the startup seeks to consolidate its operational presence in Nigeria,

Building on its relationship with food suppliers, Vendease buys discounted products in bulk, stores them and makes deliveries through third-party partners.

FinSMEs is the financial news site dedicated to covering venture capital, private equity, and merger and acquisition deals in real time!

Vendease, a Nigerian digital procurement platform, has raised a $30 million Series A to scale its services across Africa.