Kenya’s Twiga Foods Closes $10.3M Series A Investment Round Led By Wamda Capital

The last few weeks have seen three promising African tech startups land significant investments– namely, the Nigerian digital payments firm, Flutterwave ($10 million), the Kenyan mobile-driven food supply platform, Twiga Foods ($10.3 million), and the South African fractional investments service, EasyEquities ($7.5 million).

In this installment of the African Tech Round-up, Musa Kalenga and I discuss the merits of the Flutterwave and Twiga deals, but somehow, we forgot to chat about the EasyEquities transaction on this episode (our bad). That particular transaction stands out somewhat, owing to the fact that 30% of the company was acquired by the South African financial services giant, Sanlam.

Here’s to hoping that the Sanlam-EasyEquities deal signals a trend towards African institutional investors becoming savvier at identifying and financing home-grown start-ups before their overseas counterparts swoop in to snap up promising businesses from right under their noses.

First published in AfricanTechRoundup.com.