DealMakers AFRICA
Morocco’s ORA Technologies has closed a US$7,5 million Series A funding round led by Azur Innovation, who were joined by three local investors. The ORA app offers multiple features, including P2P transactions, an e-commerce platform, on-demand services, chat functionality, social networking, and a digital wallet to be launched soon.
Sahel Capital through its Social Enterprise Fund for Agriculture in Africa (SEFAA) has provided Kenyan fish processing and distribution company, Camino Ruiz, with a US$1 million loan facility comprising US$800,000 for capital expenditure and US$200,000 for working capital. Camino Ruiz has established itself as Kenya’s first consumer-focused fish brand through a strategic partnership with Global Tilapia Husbandry (GTH), securing a reliable supply of high-quality Tilapia. The company processes this into a range of value-added products under its flagship brand, Global Tilapia.
Vicenne, a medical equipment and healthcare services firm backed by private equity firm Amethis, listed on the Casablanca Stock Exchange on 15 July following an initial public offering which was 64 times oversubscribed. The company offered 2,1 million new shares at MAD236 each.
Egyptian fintech, Palm, has announced an undisclosed seven-figure pre-seed funding round led by 4DX Ventures and included Plus VC and a number of international angel investors. Palm enables users to save for life goals using smart nudges, embedded finance, and curated investments across fixed income, equities, and precious metals. It also offers exclusive merchant deals to boost savings value and reduce spending.
Verdant Capital Hybrid Fund has provided Bfree with a US$3 million loan for distressed loan portfolios from inclusive financial institutions in Africa. Established in 2020, Bfree is an ethical and digital credit collection company.
