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Here are the 8 startups selected for the 2018 VC4A Venture Showcase

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VC4A has announced the 8 ventures selected for the 2018 VC4A Venture Showcase – Series A from industries like agriculture, healthcare, housing, transportation, and finance.

The entrepreneurs leading these companies will showcase their business in front of investors during the Africa Early Stage Investor Summit in Cape Town, November 11-12, with the aim of raising $250k – $5m in series A capital. All companies provide a technology-intensive or innovation-based product or service that is currently available in one or more African markets.

AgroCenta – Ghana

AgroCenta is an innovative online platform that empowers smallholder farmers and farmer-based organizations in rural farming communities to access a wider online market to trade fairly and equitably.

Fibre Lifestyle Inc – Nigeria

Fibre is the easiest way to find and pay for rental homes in Nigeria. By partnering with landlords around the country Fibre offers their homes to verified tenants looking to rent.

Gebeya Inc– Ethiopia

Gebeya is a fast and secure online marketplace that connects top African IT experts with businesses seeking to develop new technology solutions.

GoMetro – South Africa

GoMetro allows any business or company to design and implement a managed transport service. The flexible cloud-based technology makes transport planning, tracking, paying and reporting much easier.

Read also: Apple is first public company worth $1 trillion

Invoiceworx – South Africa

Invoiceworx is a working capital financing company aiming to provide access to inventory and purchase order of financing for small businesses.

Nawah-Scientific – Egypt

Nawah-Scientific is the first, private, multidisciplinary research center and platform in Egypt catering for natural and medical sciences.

Piggybank – Nigeria

Piggybank is a simple service that helps millennials curb their spending habits while improving their savings culture by automating deposits periodically, daily, weekly or monthly to reach a specific savings target.

Shezlong – Egypt

Shezlong is an online mental health platform that allows patients to connected with licensed therapists via video call on mobile devices or the web.

Over the next weeks, the selected start-ups will be linked to the top VC investors as mentors and receive access to the bespoke curriculum before the 1-week residency in Cape Town, South Africa. During the residency, the startups will have the opportunity to interact with and learn from their mentors, peers, and partners, before delivering their pitch on the main stage of the Africa Early Stage Investor Summit.

The program offers two days of networking opportunities at the Summit and where entrepreneurs will also engage with interested investors during their deep-dive sessions. Moreover, the participants will pitch to a wider audience of corporates, investors and tech professionals at VC4A partner events AfricaCom and AfricArena.

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Egyptian supply chain startup, OneOrder, secures $3 million funding to scale up expansion plans

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An Egyptian supply chain solutions startup, OneOrder, has successfully raised $3 million in seed to enable it achieve its aim of expanding beyond the MENA region, the company’s cofounder and CEO, Tamer Amer, announced on Tuesday.

According to Amer, the funding was led by angel investor, Nclude with participation from Delivery Hero Venture and A15.

The company which was in 2021, enables restaurants to order food supplies directly on its platform, thereby helping to tackle shortages, price fluctuations, product consistency and accurate delivery.

“As a startup, OneOrder is able to improve such efficiencies across the supply chain by using its proprietary technology, which helps ensure product availability, as well as fast and accurate fulfillment,” Amer said.

“By using the platform, restaurants can order supplies for next-day delivery, eliminating the need to pay for additional storage and warehousing costs, as well as cutting costs by leveraging OneOrder’s economies of scale,” he added.

The company has so far raised $7.5 million since its launch last year. The latest round of funding, according to Amer, will also be used to “expand the team, invest in its proprietary technology, and grow the startup’s warehouse footprint across Egypt and the MENA region.”

“As a restaurateur myself, I have witnessed first hand the avoidable overheads and hassles HoReCa businesses go through in serving their customers.

“We are delighted by the level of adoption and growth we have recorded over the past year which is a testament to the fact that we are addressing a huge unmet demand in our region,” he added.

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Kenyan asset recovery agency drops fraud charges against Nigerian fintech startup, Kora

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Kenyan Asset Recovery Agency (ARA), on Monday, withdrew fraud and money laundering charges it had filed against against Nigerian fintech startup, Kora.

The charges against the Nigerian startup by the Kenyan agency were filed in July following accusations of money laundering and card fraud in the eastern African country, with the ARA going further to freeze the accounts of the company.

However, new court documents released on Monday show that the ARA has filed a notice of withdrawal of the charges at the High Court of Kenya at Nairobi Anti-Corruption and Economic Crimes Division.

In the document which was filed by state counsel, Stephen Githinji, on behalf of ARA director, the agency said that it had withdrawn its suit in its entirety.

Another document issued by the Kenyan Directorate of Criminal Investigation (DCIA), also confirmed that the agency has cleared Kora of any wrongdoing.

“Please note that investigations are now finalised. I would like to confirm that allegations of money laundering and card fraud against [Kora] were not established. Please treat this communication as final,” the DCI report said.

Kora’s Chief Operations Officer, Gideon Orovwiroro, in a statement, also confirmed the development.

“Kora has always maintained its innocence in this matter and we are glad that finally the ARA and the DCI have dropped all charges and ratified Kora.

“We’d also like to commend both agencies for their professionalism and thoroughness in seeing this investigation to the conclusive end,” says

“We are delighted to get back to building the most robust payment product on the African continent. We have some exciting announcements coming soon, including multi-currency bank account products for African businesses.

“This will empower merchants to have bank accounts in GBP, EUR, USD and other in-demand currencies. Kora is excited about this development as it is further proof of its commitment to enrich the quality of merchants’ payments and build more meaningful financial products.”

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