Africa e-tailer Jumia’s shares fall 4% day after IPO lockup expiration

Shares of Africa focused e-commerce company Jumia dropped 4% the day after the lockup period expired for its April IPO on the New York Stock Exchange. The lockup provision prevents major shareholders — namely those who purchased equity pre-public listing — from selling their shares for a specified number of days following the IPO. Jumia’s […]

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Africa Roundup: CcHub’s iHub acquisition, Andela’s $50M run-rate and layoffs, Transsion’s IPO

Two of Africa’s powerhouse tech incubators joined forces in September. Nigerian innovation center and seed-fund CcHub acquired Nairobi based iHub. The purchase amount was undisclosed, but CcHub will finance the deal out of its real-estate project to build a new 10-story HQ in Lagos, CcHub CEO Bosun Tijani told TechCrunch. Details are emerging on how the […]

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DHL expands Africa eShop online retail app to 34 countries

DHL  has expanded its DHL Africa eShop business to 13 additional markets, upping the presence of the global shipping company’s e-commerce platform to 34 African countries. DHL went live with the digital retail app in April, bringing more than 200 U.S. and U.K. sellers — from Neiman Marcus to Carters — online to African consumers. Africa eShop […]

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Africa Roundup: Goldman backs Kobo360, Rwanda commits to EVs, Interswitch IPO update

Nigerian freight logistics startup Kobo360 raised a $20 million Series A round led by Goldman Sachs and $10 million in working capital financing from Nigerian commercial banks. The company — with an Uber-like app that connects truckers and companies to delivery services — will use the funds to upgrade its platform and expand to 10 new countries beyond current […]

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Urbvan raises $9 million for its private shuttle service in Mexico

As cities in emerging markets grapple with increasingly traffic-clogged and dangerous streets, Urbvan, a startup providing private, high-end transportation shuttles in Mexico, has raised $9 million in a new round of financing. Co-founded by Joao Matos Albino and Renato Picard, Urbvan is taking the reins from startups like the now-defunct Chariot and tailoring the business […]

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Nigerian logistics startup Kobo360 raises $30M backed by Goldman Sachs

Nigerian freight logistics startup Kobo360 has raised a $20 million Series A round led by Goldman Sachs and $10 million in working capital financing from Nigerian commercial banks. The company — with an Uber -like app that connects truckers and companies to delivery services — will use the funds to upgrade its platform and expand […]

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Automotive marketplace Carro acquires Indonesia’s Jualo, extends Series B to $90M

Carro, an automotive marketplace and car financing startup based in Singapore, said it has raised $30 million to extend and close its $90 million Series B financing round and acquired Indonesia-based marketplace Jualo as it looks to further scale its business in Southeast Asia. The Series B round, for which Carro raised $60 million last […]

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Why this Nigerian fintech startup is volunteering audited financials

Nigerian fintech firm Carbon — an early stage financial services startup based in Lagos — has posted financials audited by KPMG on its website. This comes four months after the company obtained a credit rating as a pre-IPO venture. Carbon — which recently rebranded its OneFi holding company and PayLater product titles into one name  […]

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Laundrapp and Zipjet merge to form largest on-demand laundry service in UK, seal new funding

Two of Europe’s biggest on-demand laundry startups are merging today. Laundrapp from London and Zipjet from Berlin are confirming the completion of a previously-rumored merger through which the combined business will become the largest on-demand laundry business in the UK. Alongside this, the combined business has completed a funding round from existing investors including Toscafund, […]

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Korean hotel platform Yanolja raises $180M at a valuation of over $1B

The travel tech industry has got another unicorn. Following the likes of Airbnb, OYO, Traveloka and Klook, Korea’s Yanolja said today it has closed a $180 million Series D round that takes it valuation beyond $1 billion. The investment is led by GIC, a Singapore sovereign wealth fund, and Booking Holdings, the U.S. firm behind […]

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