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The Alarming Trend Of Cyber Attacks On Nigerian Fintechs: Unveiling The Culture Of Silence

The Alarming Trend Of Cyber Attacks On Nigerian Fintechs: Unveiling The Culture Of Silence

How Malawi’s Yellow Africa Plans To Utilise Its $14M Series B Round

How Malawi’s Yellow Africa Plans To Utilise Its $14M Series B Round

Yellow Africa raises a $14 million Series B funding round from Convergence Partners, the Energy Entrepreneurs Growth Fund and Platform Investment Partners to expand its coverage in select Sub-Saharan African markets.

How BoxCommerce Is Revolutionising East Africa's E-commerce Landscape

BoxCommerce is now the largest B2B e-commerce startup in Kenya, with a merchant base 16 times larger than Shopify's. Its rapid growth trajectory positions it to surpass Shopify not only in Kenya but also in Africa and Southeast Asia within the next year.

Moroccan Logistics Startup Colis.ma Raises $50,000 From Kenya’s Accelerator The Baobab Network

Moroccan Logistics Startup Colis.ma Raises $50,000 From Kenya’s Accelerator The Baobab Network

Moroccan logistics startup Colis.ma has raised $50,000 from Kenya’s The Baobab Network as part of its accelerator program. The recent cohort of the accelerator program broadens the Baobab Network portfolio by adding five new start-ups from Morocco, Kenya, Guinea, Nigeria, and Togo. In addition to the cash

Why GoDaddy Launched Its Cybersecurity Service In Saudi Arabia

Why GoDaddy Launched Its Cybersecurity Service In Saudi Arabia

Recently, GoDaddy, a global entrepreneurial development and empowerment platform, launched its cybersecurity service in Saudi Arabia. The service, a Secure Sockets Setup Layer (SSL), is an affordable avenue to access SSL certificates for SMEs and entrepreneurs to set up their secured websites with limited funds. The cybersecurity situation in Saudi

Jada Fund Of Funds Commits To Investcorp’s $500M Saudi Pre-IPO Growth Fund

Saudi-based Jada Fund of Funds, a subsidiary of the Public Investment Fund (PIF) has made financial commitments in Investcorp’s $500 million Saudi pre-IPO growth fund. Launched in 2022, the fund invests in a diversified portfolio of companies, based in Saudi Arabia that wish to access the public capital markets

Bahraini Angel Investor Tenmou Makes 6X Return On Exit Of Five Portfolio Startups

Bahraini Angel Investor Tenmou Makes 6X Return On Exit Of Five Portfolio Startups

Bahrain’s first Angel Investment Company, Tenmou has achieved a remarkable exit with Six times return on initial investment from Five of its portfolio startups. This record was achieved by the startup in an average of less than four years, which is much faster than the market's average

Integration Of AI Into All Platforms, Yay or Nay?

Artificial Intelligence

Integration Of AI Into All Platforms, Yay or Nay?

AI's simplicity, accessibility and wide integration have come with tangible potential. Infrastructure development, talent maturation, and accuracy of information and skills are just a few of the benefits that can be maximized via AI.

How the Current Crypto Crackdown Affect Venture Funding in Africa

How the Current Crypto Crackdown Affect Venture Funding in Africa

Cryptocurrency has been increasingly popular worldwide as more people see it as an alternative to traditional financial systems. Africa is also experiencing a steady growth in cryptocurrency adoption. Although, it faces some distinct challenges that hinder widespread acceptance on the continent. The limited availability of traditional banking services is a

Acasia Ventures Opens Lagos Office

Acasia Ventures Opens Lagos Office

Acasia Ventures, Acasia Group's venture capital investment arm, has opened a new office in Lagos, Nigeria, with the intention of expanding its reach across Africa and establishing relationships with local founders and stakeholders. The new location increases Acasia Ventures' presence in West Africa, bolstering the company'

Meet Klickit: The Startup Transforming Payments In Egypt's Educational Sector

Meet Klickit: The Startup Transforming Payments In Egypt's Educational Sector

Fintech, or financial technology, has rapidly evolved in Egypt in recent years. The government and various organizations have been actively promoting the development of the fintech sector as part of their efforts to modernize the financial industry and promote financial inclusion. Day in, day out entrepreneurs delve in deep to

Avanz Capital Egypt Invests $3.5 Million In Logistics Startup Trella, Launches Two New Funds

Avanz Capital Egypt Invests $3.5 Million In Logistics Startup Trella, Launches Two New Funds

Avanz Capital Egypt, a subsidiary of I Squared Capital International has invested $3.5 million in logistics startup Trella. In addition to the investment, the VC is launching two new funds and a commitment to investing in existing funds and companies. This investment makes Trella a significant player in the

How Planet42 Is Upholding Rent-To-Own Car Scheme In South Africa

How Planet42 Is Upholding Rent-To-Own Car Scheme In South Africa

Driving a vehicle holds significance for individuals in society as it offers social status and enables personal authority and independence. Particularly elderly individuals face challenges with walking to reach bus stops or cycling. Hence, driving often remains the only viable choice for maintaining independent mobility. South Africa faces a significant

Maltento Secures $3.3m For Insect-based Feed Solution

Maltento Secures $3.3m For Insect-based Feed Solution

Maltento, a biotech startup in Cape Town South Africa, has successfully raised $3.3 million in seed funding from Sand River Venture Capital. The company's primary focus is on discovering and utilizing the beneficial compounds found in insect-based feed solutions. This investment represents a major achievement for Maltento

A Dive Into Turkey's Vibrant Gaming Industry

A Dive Into Turkey's Vibrant Gaming Industry

Turkey has been making significant progress in the gaming industry in recent years. The industry continues to evolve and expand, driven by talented developers, a growing market, and increasing government support. The country has seen a growing number of game developers, studios, and events that contribute to the overall gaming

Venture Forward Awards Scholarship To 40 Underrepresented Aspiring VCs

Venture Capital

Venture Forward Awards Scholarship To 40 Underrepresented Aspiring VCs

Venture Forward, recently awarded scholarships to 40 recipients as part of the VC University Cohort 13 class. The scholarship comes with full tuition, dedicated house hours, and 3months of a curated mentorship program. According to the organization, the scholarship recipients were competitively selected from hundreds of candidates who went through

The VC Funding Gap: Why Northern Nigerian Start-Ups Are Being Left Behind -Surayyah Ahmed

Features Featured

The VC Funding Gap: Why Northern Nigerian Start-Ups Are Being Left Behind -Surayyah Ahmed

Nigeria’s startup ecosystem is booming, with a growing number of innovative companies emerging across the country. However, there is a stark divide between startups in the northern and southern regions of Nigeria when it comes to securing venture capital (VC) funding. Northern Nigerian startups are being left behind, and

The Ouut's Highlight Of The Week

African tech startups Featured

The Ouut's Highlight Of The Week

This week, The Ouut highlights events that kept the ecosystem talking. Catch up on all you missed this week.

Google Launches Accelerator For Cleantech In Middle East, Africa

Google Launches Accelerator For Cleantech In Middle East, Africa

Google has announced the launch of Google for Startups Accelerator: Climate Change. This 10-week, equity-free program is specifically designed for Seed to Series A startups that are working hard to tackle Climate Change with technology. This amazing opportunity is being offered in partnership with Google Cloud and is specifically targeted

Saudi's B2B Autobia Secures Seed Funding For Service Expansion

Saudi's B2B Autobia Secures Seed Funding For Service Expansion

Saudi-Arabia-based business-to-business (B2B) platform Autobia has secured $2.5 million in a seed funding round. The investment was led by Sadu Capital and received participation from Wa’ed Ventures by Aramco, Raz Holding, Techstars, and a group of angel investors. The latest investment will enable Autobia to expand within Saudi

World Environment Day: Meet Nadeera, The Startup Making Recycling Easy

As the world celebrates Environment Day, sustaining the environment to address climate change remains a priority. However, technology startups are not left out of the game, today the Ouut spotlights, Nadeera, a Middle East startup digitising the recycling of solid waste. World Environment Day is an annual event observed on

Dream VC Introduces Its 2023 Cohort of “Launch into VC”

Dream VC Introduces Its 2023 Cohort of “Launch into VC”

Dream VC is thrilled to announce the latest group of fellows for its highly anticipated Launch into VC (LIVC) program. This program serves as an intensive crash course for aspiring junior professionals and graduates aiming to enter the African venture capital landscape. With an impressive track record, over 85% of

Why FSD Africa Backs Africa Climate Ventures with $1.2M

Why FSD Africa Backs Africa Climate Ventures with $1.2M

FSD Africa Investments (FSDAi) has invested $1.2 million in Africa Climate Ventures (ACV), a visionary venture builder dedicated to combating climate change while tapping into the continent's immense potential for carbon markets. This investment sets the stage for ACV to build a $45 million portfolio of climate-positive

LemFi Partners Pesa Swap to Boost Kenya's Remittance Volume

LemFi Partners Pesa Swap to Boost Kenya's Remittance Volume

Kenya has long been a hub for remittances, with its citizens residing overseas sending substantial amounts of money back home. Giving Egypt and Nigeria a hot pursuit for the number one spot. To further strengthen this vital source of income, LemFi, an African cross-border money transfer platform, has partnered with

UAE's Floral Marketplace Floranow Fully Buys Saudi's Flower Distributor Bloomax

UAE's Floral Marketplace Floranow Fully Buys Saudi's Flower Distributor Bloomax

Floranow, a UAE-based B2B floral marketplace has fully bought Saudi Arabia’s fresh flower distributor Bloomax. The startup bought 100 percent shares of Bloomax, with the transaction funded by both debt and equity. With this acquisition, Floranow will now have a direct presence in nine KSA cities, expanding its current