Lulalend, South Africa’s first online automated provider of short-term funding for small and medium enterprises (SMEs), announced its Series A financing of $6.5 million. The round was co-led by IFC and Quona Capital, a leading fintech firm whose funds are sponsored by Accion, with participation from existing investors Accion Venture Lab and Newid Capital. After the announcement, Heavy Chef spoke to Johan Bosini of Quona Capital: “We feel that this is an important investment for the South African ecosystem”.
Startups Unearthed Africa is an online competition aimed at raising the profile of African hardware or software companies across the global mining sector, with applications open to any business across the continent that has a prototype, product or service that can impact industry. Companies do not need to have worked on a mining project before, they just need to have exciting technology solutions that can make a difference.
Debt financing enables scale and expansion to fund the best students around the world. This includes additional U.S. universities, schools and programmes, and a new loan refinance product. Prodigy Finance, the UK-based pioneer in cross-border finance founded by South African entrepreneur, Cameron Stevens, has announced that it raised R14.39 billion in the last twelve months in available debt financing.