Maad
Maad, Francophone Africa's fastest-growing tech & logistics platform for informal retailers, today announced the successful completion of its $3.2 million seed funding round (debt & equity).
Source: africa.com
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Top News In Reflect Ventures Today - Breaking & Trending Today
Weekly economic index: Nigerian banks ₦2.09 billion naira loss, MTN Nigeria's gains ₦700 billion revenue, and Mauritius new subsea cable link to Asia.
Here are three big stories from Africa’s business and policy landscape you (probably) didn’t miss but should keep in mind this week
Source: venturesafrica.com
Logistics startup secures $1.9m in pre-seed round
Renda, a three-year-old Nigerian logistics startup, has secured $1.9m in pre-seed funding to enhance its technology offerings, expand to new cities across Nigeria and East Africa.
Source: punchng.com
Renda raises $1.9m to expand across Nigeria and Kenya
Renda, a Nigerian logistics startup that counts Jumia and MarketForce as top clients, has raised $1.9 million in pre-seed funding.
Source: techcabal.com
MarketForce winds down its B2B e-commerce arm
Kenyan B2B e-commerce company MarketForce is winding down its B2B e-commerce business that served informal merchants (mom-and-pop stores) after a turbulent two-year period that saw it scale down operations severely. The shutdown of the B2B e-commerce arm dubbed RejaReja comes months after MarketForce withdrew the service from all its markets, including Nigeria and Kenya, save for Uganda. MarketForce had raised $42.5 million, including $40 million debt-equity in a Series A round in 2022 at over $100 million valuation, to fuel the business.
Source: yahoo.com