South African E-learning Firm Hubble Studios Acquired

Noodle, a producer of e-learning content based in the United States, has finalised the acquisition of Hubble Studios, a global e-learning design studio based in Cape Town.

Hannes Geldenhuys, the CEO of Hubble Studios, will join Noodle as senior vice president of international, leading international collaborations.

Why The Acquisition?

According to the firms, the acquisition would result in the creation of many new jobs in South Africa as Noodle maintains its strong development trajectory.

Hannes Geldenhuys, the CEO of Hubble Studios
Hannes Geldenhuys, the CEO of Hubble Studios

“The management and staff of Hubble Studios are honoured to join the esteemed team at Noodle and contribute to their trailblazing efforts to deliver high-quality, rigorous and accessible hybrid degree programmes,” notes Geldenhuys. “As one entity, we can elevate our support for university partners in North America and introduce the Noodle brand to universities around the world.”

Read also South African Real Estate Startup Flow Raises $4.5M In Pre-Series A Funding

The acquisition, according to the firm, represents Noodle’s entry into the local market, with aspirations to expand to other nations such as Australia, England, Germany, Switzerland, and Singapore.

According to the firm, the increased capacity accelerates the company’s objective to modernise online learning design and the overall learner experience for Noodle’s university partners and students.

Noodle and Hubble Studios initially collaborated in 2021, and they are presently developing over 100 courses for partners such as Yale School of Nursing, Butler University, New England College of Optometry, and the Okinawa Institute of Science and Technology.

The acquisition comes at an exciting time for Noodle’s growth and iteration, as well as its dedication to building a strong partner ecosystem.

Noodle currently collaborates with over 40 colleges and 30 organisations worldwide, thanks to the addition of Hubble Studios.

Read also Nigerian Mobility Fintech Startup Shekel Mobility Raises $1.95M In Pre-Seed Funding

“The acquisition underscores and strengthens Noodle’s commitment to building world-class online learning design that is affordable for our partners and modernises teaching and learning,” says John Katzman, founder and CEO of Noodle. “We believe Hubble Studio’s innovative and interactive design capabilities empower Noodle to create a unified vision for the rigor and aesthetic of the online learning experience and to integrate that vision into the ongoing student journey, from inquiry to alumnus, and becoming a lifelong learner.”’

A Look At What Hubble Studios Does

Hannes Geldenhuys and Robert Paddock (co-founders of GetSmarter) created Hubble Studios in South Africa in 2012 to build specialised online education material and technology that would maximise learning effect and fulfil the missions of its partner institutions, organisations, and clients.

Its primary goal is to advise, co-design, and produce client-led customised e-learning solutions by providing formal evaluations, notes and graphics, videos, animation, and games that are custom-built for effective learning.

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert. 
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard

How Long Does It Take To Sell Or Exit A Tech Startup In Africa?

The decision to sell or exit a tech startup typically fills investors and entrepreneurs in Africa with excitement, especially given the potential returns on investments. The recent proposal to buy the artificial intelligence startup InstaDeep from Tunisia has highlighted the significance of startup exits for both investors and founders. InstaDeep would be sold for $687M after over 9 years in business, making it possibly the most significant acquisition to have emerge from Africa. A total of £362 million in cash and BioNTech shares will be paid upfront for 100% of the outstanding InstaDeep shares, excluding the shares already owned by BioNTech, as part of the transaction. Shareholders in InstaDeep will also be qualified for future performance-based milestone payments totaling up to £200 million.

Although it took the founders of InstaDeep almost 9 years to develop such a valuable business, in this study we take into account the typical time it takes to develop a tech startup in Africa to the point where it is prepared for purchase or IPO (Initial Public Offerings), if the proper funding and management are used. We found that, on average, it would take an African tech startup roughly 6.5 or 7 years to mature up to the age of acquisition, although it may take up to 20 years in some situations, out of the total deals of 93 acquisitions and IPOs we analysed.

Read also Tunisian AI Startup InstaDeep Set For BioNTech SE Purchase At $684M

The following summarises our conclusions:

S/N NAME OF STARTUP SECTOR OF STARTUP PRIMARY COUNTRY OF OPERATIONS YEAR FOUNDED YEAR ACQUIRED NUMBER OF YEARS BEFORE EXIT NAME OF ACQUIROR/EXIT TYPE

PRIMARY COUNTRY OF ACQUIROR/
PLACE OF EXIT
NATURE/DESCRIPTION OF ACQUISITION/EXIT
1Cars45Car-listing marketplaceNigeria20162017;2020; 20211Frontier Car Group; OLX Group; JIJIGermany; Netherlands; Nigeria (respectively)Undisclosed
2UnderlieOpen BankingEgypt202120221Fintech GalaxyUAEUndisclosed
3Lammae-Grocery and Q-commerceTunisia202120221AppetitoEgyptUndisclosed
4ExitsM&A MarketplaceEgypt202220221PIEEgypt Undisclosed
5GyftMobile Gift CardSouth Africa201220142FirstDataUnited StatesAcquired for $54m
6FwRunEcommerceEgypt201920212DiggipacksSaudi ArabiaUndisclosed
7SurebetBetting/GamingKenya201920212TransAtlantic CapitalUnited StatesUndisclosed
8DelivroumFood deliveryTogo201820202GozemTogoUndisclosed
9Shago PaymentsEcommerce payments solutionsNigeria201920212AlerzoNigeriaUndisclosed
10Sa3arAuto tech (car assessment)Egypt201920212Contactcars.comEgyptUndisclosed
11StabusMobilityGhana201920212Treepz (Formerly Plentywaka)NigeriaUndisclosed
12DishaOne no-code tool for content creatorNigeria201920212InterswitchNigeriaDisha planned to shut down on December 31, 2021, save for the acquisition. Deal amount undisclosed. 
13DoctorOnlineHealthtechEgypt202020222CheckMeEgyptUndisclosed
14TalabeyahB2B EcommerceEgypt202020222MNT-HalanEgyptUndisclosed
15Gallop ExpressLogisticsEgypt202020222GLT ExpressSaudi ArabiaUndisclosed
16CircleProptechEgypt202020222MilangoEgyptUndisclosed
17DigidukaFintechKenya201920213MarketForceKenyaUndisclosed
18MangweeFintech (Mobile payments)Zambia201820213ZeepayGhanaUndisclosed
19HarmonicaDating Egypt201720203Match GroupUnited StatesUndisclosed
20Savi.ngFintech (Wealth management)Nigeria201820213PiggyVestNigeriaUndisclosed
21AppositEnterprise (Software development)Ethiopia201720203PagaNigeriaUndisclosed
22AmplifyFintechNigeria201620193OneFiNigeriaUndisclosed
23QuickHelpAI (chatbot)Nigeria20152018 31001 Squared Artificial IntelligenceCanadaUndisclosed
24TopCheckEcommerceNigeria201520183SilvertreeNigeriaUndisclosed
25FundallFintechNigeria201920213Emerging Africa GroupNigeriaUndisclosed
26FarmTrustBlockchain-enabled ecommerceTunisia201820213LAMMATunisiaUndisclosed
27SwitchPayFintech providing alternative payments options to merchants and retailers. South Africa201820213AdumoSouth AfricaUndisclosed
28Flo by SaadaEcommerceKenya201920223ElloeKenyaUndisclosed
29FaturaB2B EcommerceEgypt201920223EFG Hermes HoldingEgyptUndisclosed
30RadarHR And PayrollSouth Africa201920223FirepaySouth AfricaUndisclosed
31PayJustNow‘Buy Now, Pay Later’ South Africa201920223Weaver FintechMauritiusUndisclosed
32TareeqiBus trackingEgypt201820213eMushrifOmanUndisclosed
33WooCommerceOpen source ecommerce pluginSouth Africa201120154WordPressUnited StatesAcquisition estimated to be worth over $30 million
34WaystoCapB2B EcommerceMorocco201720214MaxABEgyptUndisclosed
35PaystackFintech (Payments)Nigeria201620204StripeUnited StatesAcquired for over $200m
36Bottles AppLogistics (on-demand Delivery)South Africa201620204Pick n PaySouth AfricaUndisclosed
37StarterHubCommunityEgypt201520194RiseUpEgyptUndisclosed
38Surf KenyaWi-fiKenya201520194BRCKKenyaUndisclosed
39Source BeautyFashion EcommerceEgypt201820224ECC GroupEgyptUndisclosed
40DilenyTechArtificial IntelligenceEgypt201820224Astute ImagingUSAUndisclosed
41MowarridB2B MarketplaceEgypt201820224SarySaudi ArabiaUndisclosed
42CrossfinCard and mobile-enabled payment transactionsSouth Africa201720214The EMMF I and ARC consortiumSouth Africa$94.3m
43NimbulaEnterprise (Cloud computing)South Africa200820135OracleUnited StatesAcquired for $110 million
44WayaWayaAI and Machine LearningKenya201620215AjuaKenyaUndisclosed
45Cape NetworksSaaSSouth Africa201320185HPUnited StatesUndisclosed
46QuenchEcommerce and last-mile delivery serviceSouth Africa201620215The Foschini GroupSouth AfricaUndisclosed. 
47SWVLMobilityEgypt201720225IPO via SPAC (Nasdaq)USA
48Sky.GardenEcommerceKenya201720225Lipa Later GroupKenyaBuy-out following bankruptcy
49GiraffeRecruitmentSouth Africa201520216Harambee Youth Employment AcceleratorSouth AfricaUndisclosed
50WizzPassVisitor ManagementSouth Africa201520216FM:SystemsUnited StatesUndisclosed
51ConversioDigital MarketingSouth Africa201420206CM GroupUnited StatesUndisclosed
52SendwaveFintech (Cross-border payments)Kenya201420206WorldRemitUnited KingdomAcquired for $500m
53KongaEcommerceNigeria201220186ZinoxNigeria$10m (Reportedly)
54ParkUppLocal Parking MarketplaceSouth Africa201620226Docklands VenturesSouth AfricaUndisclosed
55Buni.tvEntertainmentKenya200920167Trace TvNigeriaUndisclosed
56BaxiFintech (Digital agent network)Nigeria201420217MFS AfricaSouth AfricaUndisclosed
57DevcorpEnterpriseMorocco201420217ABA Technology GroupMoroccoUndisclosed
58PicupLogisticsSouth Africa201420217KaroooooSingaporeAcquired for $4.8m
59CallPayFintechSouth Africa201420217UndisclosedUndisclosedAcquired at a valuation of ($6.8m)
60DabaDoce-HealthMorocco201420217Orange MEA; AXA CIMAMoroccoUndisclosed
61LunoBlockchainSouth Africa201320207Digital Currency Group (DCG)United StatesUndisclosed
62OLX AfricaClassifiedsNigeria201220197JiJiNigeriaUndisclosed
63FilkhedmaHomes servicesEgypt201420217SweepSouthEgyptUndisclosed
64JUMIAEcommerceNigeria201220197IPO (Nasdaq)USA
65AccounteerAccountingNigeria201520227FloatGhanaUndisclosed
66ParceNinjaEcommerce logisticsSouth Africa201320218Imperial LogisticsSouth AfricaUndisclosed
67MobisolOff-grid energyKenya201120198EngieKenyaUndisclosed
68Tactful AIArtificial IntelligenceEgypt201620228DstnyBelgiumUndisclosed
69UCOOKMeal Kit Delivery South Africa201420228Silvertree HoldingsSouth Africa$12.3M
70iHubInnovation HubKenya201020199CcHubNigeriaUndisclosed
71NafhamSocial startup for free crowdsourced educational contentEgypt201220219TyroEgyptUndisclosed
72InstaDeepArtificial IntelligenceTunisia201420239BioNTech SEGermany$684M
73GetSmarterEdtechSouth Africa20072017102UUnited StatesSold for $103-million plus $20-million in cash.
74Kapa BiosystemsLife ScienceSouth Africa2006201610RocheSwitzerlandAcquired for for $445-million
75eLimuEdtechKenya2010202010CcHubNigeriaUndisclosed
76KngineAIEgypt2008201810Samsung ElectronicsSouth KoreaUndisclosed
77Cheki (Nigeria, Uganda, Kenya)Auto techNigeria, Uganda, Kenya2010202111AutochekNigeriaUndisclosed
78QuickCashFintechCôte d’ivoire2010202111E-SettlementNigeriaUndisclosed
79MainOneData center infrastructureNigeria2010202111EquinixUnited States$320m
80Retail CapitalFintech (SME Funder)South Africa2011202211TymeBankSouth AfricaUndisclosed
81Fundamo CityFintech (Mobile financial services)South Africa1999201112VisaUnited StatesAcquired for $110 million
82EventtusEvents managementEgypt2012202112BevyUnited StatesUndisclosed
83Exchange4FreeFintech (Cross-border payments)South Africa2008202113AZA FinanceKenyaUndisclosed
84DPO GroupEcommerceKenya2006202014Network International Holdings plcUnited Arab EmiratesUndisclosed
85BeyonicFintech (Payments)Uganda2006202014MFS AfricaSouth AfricaUndisclosed
86LawtrustIT securitySouth Africa2006202115AltronSouth AfricaAcquired for $17m
87Ubusha TechnologiesIdentity Security SolutionsSouth Africa2003201916AltronSouth AfricaUndisclosed
88Quirk (Mirum)Digital agencySouth Africa1999201617WPPLondon, United KingdomAcquired for a reported R350 million to R400-million ($35million to $39 million) at the time of the sale.
89Genric InsuranceInsurtechSouth Africa2005202217Old MutualSouth AfricaUndisclosed
90GumtreeOnline Classified AdsSouth Africa2005202217AdevintaNorwayUndisclosed
91Okuhle MediaDigital mediaSouth Africa2003202118TraceFranceUndisclosed
92orderTalkFoodtechSouth Africa1998201820Uber EatsUnited StatesUndisclosed
93SPEEDB2B e-commerceEgypt1997202225X-ERAUAEUndisclosed

Sell Exit tech startup Africa Sell Exit tech startup Africa Sell Exit tech startup Africa

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert. 
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard

Two Years After Application, Nigerian Crypto Exchange Roqqu Lands EU Virtual Currency License

After two years of waiting for approval from regulatory bodies, Nigerian cryptocurrency exchange Roqqu was given a virtual currency licence for the European Economic Area. The company may now operate in 30 nations and expand its services in one of the biggest crypto markets in the world as a result of the move.

The business claimed that by providing competitive costs and a better user experience for newbies, it aims to draw early traders wanting to acquire an edge in the cryptocurrency industry.

Benjamin Onomor, CEO of Roqqu

With the expansion, Roqqu wants to increase its user base from the 1.4 million customers it had in Nigeria — the exchange’s only operating market — to over 5 million users by 2023. In the upcoming months, the exchange expects to offer services in a number of African nations, including South Africa, Ghana, Uganda, Kenya, and Tanzania.

Read also Morocco Gets Set To Welcome New Crypto Law, To Open Up Space

According to Benjamin Onomor, CEO of Roqqu, African expats send their family members back home more than $5 billion annually. Remittances might occasionally take days to reach their destination. Onomor said:

“It makes a lot of sense to solve this problem by using crypto as the vehicle. Crypto is a faster and cheaper route that can bridge the gap and help reduce fees in moving money globally. This is the core of the problem we want to solve.”

Africa has adopted cryptocurrencies more frequently over time. The Middle East and North Africa region has the greatest growth rate in the world, according to statistics from Chainalysis, with users receiving $566 billion in cryptocurrencies between July 2021 and June 2022, a 48% increase over the previous year.

“It went from being perceived as a scam or another form of Ponzi scheme to one of the most sought-after asset classes in Africa,” Onomor commented about the industry evolution in Africa.

Read also Six Defining Trends Of 2022 That Will Continue To Impact Your Business in 2023

“Lack of access to excellent internet or even any type of internet in general, low financial literacy, and a lack of technical know-how” are some of the difficulties the region’s crypto community is facing, according to Onomor. Lack of software management tools and hazy legal requirements are significant barriers for cryptocurrency firms. Onomor also noted:

“One of the most beautiful things about the crypto industry is that it’s a world of endless opportunities. With every challenge faced, crypto startups find a way to innovate around it.”

Roqqu license Roqqu license

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert. 
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard

Nigeria’s TeamApt Relocates To London, Changes Name To Moniepoint

As a sign of its success as the one-stop digital banking solution for companies all over Nigeria, TeamApt Incorporated, the leading commercial banking platform in that country, has adopted the name of its flagship product, Moniepoint. In Nigeria, the Moniepoint brand is already well-known and dependable among its client base, so using that name will remove a barrier between the company’s image and the target market.

The transition to the Moniepoint brand and the relocation of the company’s headquarters to London represent the following phase of the expansion strategy for the company.

Tosin Eniolorunda, co-founder and CEO of Moniepoint
Tosin Eniolorunda, co-founder and CEO of Moniepoint

Despite a rough patch for global financial markets in the second half of 2022, TeamApt’s Moniepoint, a digital banking solution for small and medium companies, has achieved unparalleled growth. With a customer base of more than 600,000 businesses and an annually Total Payments Volume (TPV) of more than $170 billion, it presently processes the bulk of POS transactions in Nigeria. This has allowed it to more than treble its annual revenues in 2022. The Central Bank of Nigeria awarded this product the National Inclusive Payment Initiative Award due to its wide use.

Read also Ghanaian Fintech Startup Bezo Money Raises US750,000, Acquires 100,000 Users

The platform also introduced a credit offering in 2022, which has already provided working capital loans totaling more than $1.4 billion.

The company, which has been profitable since 2020, is supported by eminent institutional investors such as QED Investors, Novastar, Lightrock, BII, FMO, Global Ventures, Endeavour Catalyst, and New Voices Fund. In July 2022, the business became QED Investors’ initial venture in Africa.

Tosin Eniolorunda, co-founder and CEO of Moniepoint said: “When we started out in 2015, we were primarily providing back office payment infrastructure for banks and needed an apt team, hence the name TeamApt. Since then we have evolved significantly and our flagship business banking solution, Moniepoint, has become our core focus and where we see the future. Now as we head into our next step in our journey, we’ve changed our name to reflect the company’s commitment to enable a world where any business has access to the digital tools and capital needed to grow, no matter its stage, size or location, and as Moniepoint we believe we can achieve this.”

Brian Waswani Odhiambo, Partner of Novastar Ventures said: “Moniepoint is uniquely positioned to accelerate the digitization of banking for underserved businesses. Its leadership team has deep sector knowledge and an enviable track record in the financial services space, which is evident from Moniepoint’s ongoing success. Since partnering, Moniepoint has already displayed amazing growth and we’re excited to see the evolution of the business, as it sets out to deliver best-in-class banking and business solutions.”

Read also African Payments App NALA Now Live In The EU

Ravi Sharma, Partner at Lightrock, commented: “We are very pleased with TeamApt’s move to Moniepoint. Recognized by millions, this brand reflects the company’s focus on innovation and customer-centricity, while also positioning the business for continued growth in Nigeria and across Africa. We look forward to working with Tosin and the talented Moniepoint team as they go from strength to strength.”

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert. 
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard

Kenyan Microfinance Kuscco Sells Its Software Publishing Company To Fintech Startup Kwara

The Kenyan microfinance company Kuscco (Kenya Union of Savings and Credit Cooperatives) has sold its 75%-owned subsidiary in Irnet, which published banking software. For an undisclosed sum, the corporation was sold to Kenyan fintech company Kwara. Following the sale of Irnet, the two organisations came to an agreement about the delivery of digital solutions.

George Ototo, general manager of the Kuscco group
George Ototo, general manager of the Kuscco group

According to George Ototo, general manager of the Kuscco group, “the acquisition of Irnet and the Kuscco-Kwara cooperation will enable us to give our thousands of members with a central, cloud-based banking platform that is tested, proven, and safe, as well as modern mobile banking channels.” 

In December 2021, the fintech Kwara, which would own the business Irnet, raised $4 million to improve and automate the services provided by credit unions.

Read also Kenyan Biotech Startup Ecodudu Raises $540k In New Funding

According to Fintech Kwara, which was established in 2018 and began operating a year later, it has given more than 120 microfinance institutions access to digital banking channels to help them expand their clientele and grow their businesses. The Kenyan fintech company wants to consolidate the operations of the two organisations after acquiring Irnet in order to create digital solutions for the country’s entire microfinance industry.

Kuscco Kwara Kuscco Kwara

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert. 
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard

Tunisian AI Startup InstaDeep Set For BioNTech SE Purchase At $684M

InstaDeep, a Tunisian and London-based enterprise AI firm that develops decision-making algorithms for real-world challenges, has agreed to be bought by BioNTech SE in a deal worth up to £562 million ($684 million), giving the German biotech a greater ability to use artificial intelligence and machine learning in its work.

According to Bloomberg, this is BioNTech’s largest transaction to date. It comprises an upfront payment of £362 million in cash and shares, as well as subsequent payments of up to £200 million if certain future milestones are met, according to the business.

BioNTech is forging on after collaborating with Pfizer Inc. to create the world’s best-selling Covid-19 vaccine. Before turning to the Covid injection, the firm focused on cancer, and it has long depended on powerful computation to help it adapt individualised vaccines to patients’ tumours.

Read also Network International appoints Sandeep Chouhan, as its Group Chief Business Transformation and Technology Officer

The agreement will enable BioNTech to employ artificial intelligence in other domains, including manufacturing. Last week, the business also committed to collaborate with the UK government to treat 10,000 cancer patients by 2030, a project that will depend on health and genomes data to identify patients more promptly.

“Our aim is to make BioNTech a technology company where AI is seamlessly integrated into all aspects of our work,” Chief Executive Officer Ugur Sahin said in a statement.

BioNTech and InstaDeep, both based in London, began collaborating in 2019, and in November 2020, they committed to a multi-year relationship that included a joint innovation centre. For new Covid versions, the businesses created an early warning system.

Read also Business in the Era of Everything-as-a-Service (XaaS)

In January 2022, the biotech company acquired an equity position in InstaDeep as part of the company’s Series B financing round. The acquisition will bring roughly 240 new employees to BioNTech. Before US exchanges opened, the company’s American depositary receipts traded little changed.

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert. 
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard

Classera Announces Large Investments In Egypt After Raising $40M Round Of Investment

Classera, the leading global company in the field of educational technology, announced its expansion plan inside Egypt, by injecting new investments to enhance its operations with partners in the Egyptian market and to provide a new generation of educational and training technology within an integrated services portfolio.

Classera is the largest company specializing in education technology in the Middle East and Africa, and provides services to millions of users in more than 30 countries globally. and social learning programmes.

Classera’s expansions in Egypt come after the company’s success in raising $40 million in its financing round, which was announced a few weeks ago, and is the largest global investment round of Category “A” in the field of educational technology without any prior investment.

Read also Binance Takes Crypto Education Tour Across Francophone Africa

For his part, Mohamed El-Madani, co-founder and CEO of Classera International, confirmed that Egypt is one of the three largest markets in the world in terms of new investments that Classera will pump during the coming period, explaining that choosing Egypt to be a regional center for new expansions is evidence of the importance of this market. And the strength of the human competencies present in it.

Classera has more than 100 strategic partnerships with regional and international companies, including Microsoft, Zoom, Udemy, Intel and Amazon. During the past year, Classera launched an education system in cooperation with HP International under the name “HP-ClassEasy by Classera”, which fully uses Classera technologies and is now being offered In educational facilities in a number of countries around the world.

For his part, Engineer Mahmoud Al-Jabri, Director of Classera Egypt and Director of Strategic Partnerships in Classera International, said that Classera’s interest in the Egyptian market began 4 years ago, as the company’s branch was opened in 2018 before moving to its branch in New Cairo in 2020, as the number of employees in the company’s branch is more than 100. Employees working in different sectors to support Classera’s business in the Egyptian market and other markets, so that this branch will be a regional center for launching into the important African market.”

Al-Jabri added: “During this short period, Classera has succeeded in leaving a large footprint in the sectors of university education, pre-university education and training with a number of major clients in the Egyptian market. One of the companies operating in the education and training sectors, and the company will soon announce a number of major projects that it will launch in the Egyptian market with a number of government agencies, within the framework of the Egyptian state’s direction towards comprehensive digital transformation, and the realization of Egypt’s Vision 2030 led by President Abdel Fattah El-Sisi towards the Republic. New.”

Read also African Credit Fintech Finclusion Raises $2M, Rebrands To Fin

Al-Jabri stressed that the Egyptian market is witnessing a great development with regard to the digital transformation file, and the Corona pandemic has proven beyond any doubt the importance of e-education and training, which makes us happy to provide a unique experience for the Egyptian market in the next stage, as it is one of the most important markets that the company focuses on in the future. The near future, due to its human cadres and high percentage of young people, is in need of innovative educational programs such as those offered by Classera.

Through Classera solutions, institutions can carry out all educational activities in the educational facility electronically, apply learning with augmented virtual reality (C-Reality), a financial and administrative resource planning (ERP) system dedicated to educational institutions, C-Smarter, and an integrated electronic payment system for school fees and payment and installments of educational fees. C-Pay, an online marketplace for educational products that includes educational technology products and educational supplies “EduMalls”, all under one umbrella to enhance educational interaction and thus develop the educational experience in an integrated manner.

Al-Jabri added that the company has allocated huge investments to expand in the Egyptian market in the next stage, and to strengthen partnerships with the government and private sectors, including the Ministry of Education and Higher Education, universities, various private educational facilities, and many companies and government agencies in order to train employees and raise their efficiency.

Al-Jabri added that the investments allocated to the Egyptian market will be used to accelerate the company’s expansion in one of the most promising sectors of the company, which is the e-training sector for companies and government agencies, through our specialized platform “LeadXera”, explaining that the expansion of this sector is among one of the most important goals that Classera focuses on. Egypt in the near future.

Classera

Classera started out of Silicon Valley and focused on emerging markets. A few weeks ago, Classera raised $40 million in the world’s largest Series A investment round in education technology without any prior investment, led by Sanabel Investments, wholly owned by the Saudi Public Investment Fund, and joined by: Global Venture Fund, Endeavor Catalyst, 500 Global, Sakani Ventures, Sidra Ventures, and a variety of elite investors from Silicon Valley, emerging markets and global family offices participated in, and the round also represents the largest investment round ever in the education technology sector in the Middle East and most of Africa. .

Classera achieved one of the highest levels of interaction in the world of e-learning in the world during the past academic year, and the integrated learning platform enabled the company to reach nearly 70% of the market share in some Middle East and African markets, which led to more than 10 billion browsing operations within systems, and Classera holds many international awards in the field of educational technology, including Bett, The Learning Award, GESS, Microsoft Award, and many others.

Classera was founded in America in Silicon Valley by Saudi entrepreneur Mohammed bin Suhail Al-Madani and his partner, Mohammed Al-Ashmawi — who established their first company when they were 18 years old. Their shared vision was to revolutionize e-learning and enable learners, especially in emerging markets, to unleash their potential. After that, they began to focus on the Middle East and Africa region to make the largest possible positive impact on the learners’ experience.

Over Half of Businesses in Nigeria Planning to Expand Locally Despite Supply Chain, Cyber-Security, and Recruitment Challenges

The integrated learning platform “LSP” in Classera is comprehensive and integrated, and the learning management system — which forms one of the most important pillars of Classera — includes a special equation on which the system is based: inspiration using entertainment learning, individualized learning using artificial intelligence, and participatory learning using The way of social learning, all to increase interaction and thus improve the educational experience. In order to complete this integrated system, the educational augmented reality system, the resource management system, the payment system and the educational electronic market were provided, all to provide a single integrated and interconnected solution under one umbrella that the educational and training authorities can benefit from with ease.

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert. 
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard

Egyptian Health-tech DoctorOnline Acquired

CheckMe, based in Egypt, has purchased a majority share in DoctorOnline. This acquisition is an important indicator of the region’s sustained growth in healthtech, particularly in telemedicine, r-pharmacy, and e-diagnostic, which have expanded quickly since the Covid-19 epidemic.

CheckMe, launched in 2020 and powered by the T3G investment group, is a customer-centric marketplace mobile application that provides on-demand medical lab services through different lab partners safely, accurately, and swiftly. DoctorOnline, established by Dr Mahmoud Abdel Hakim, is a virtual clinic smartphone application that provides patients with virtual access to specialist doctors in all medical specialties via video chats.

DoctorOnline

Why The Acquisition?

Dr Nesma El Talawy, CEO of CheckMe, explains, “This acquisition falls in line with our expansion strategy in the region and in-line with the expansion of our service offering. According to McKinsey Global Institute, the costs saved by healthtech to the healthcare sector could lie between $1.5 trillion and $3 trillion a year by 2030, which makes acquisitions like this pivotal in their economic impact in the region”. 

Read also Ghanaian Healthtech Startup, Belayab Expands Pharmacy Chain In Ethiopia

CheckMe aspires to be Egypt’s and the region’s go-to healthtech super app, assisting users in finding more convenient, efficient, and cost-effective medical channels.

The acquisition will also enable CheckMe to provide a new wave of diagnostics and primary care physicians to its patient journey by facilitating the patient healthcare journey through on-demand diagnostics and telemedicine by qualified experts, as well as communication with patient navigators and primary care physicians.

Dr Mahmoud, founder of Doctor Online, added that “this new Acquisition was made possible with our sell-side mandate with Exits MENA, who was able to bring together the best strategic and financial output for the deal. The healthtech sector is still heavily unsaturated, and the more comprehensive a product, the better fit it will be for patients; who want their data to be safely protected while getting the healthcare that is quick, cost-effective and accurate.”

Read also Egyptian Online Marketplace For Handicrafts Muqbis Raises Pre-seed Funding

Healthtech is continuing to push the boundaries of traditional healthcare delivery. It has the potential to change the way we all receive healthcare in the coming years across generational lines. This acquisition represents a significant reorganisation in order to improve the patient journey and offer patients with the appropriate medical cycle.

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert. 
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard

Acquisition Of Solar Solutions Provider Daystar Power By Shell Completed

Daystar Power Group has now been acquired by Shell Overseas International B.V. (SOI B.V.), a wholly owned subsidiary of Shell plc (Shell) (Daystar).

Daystar, a provider of integrated solar power solutions, provides dependable electricity to businesses in West Africa, assisting customers in lowering power costs and pollution.

Sub-Saharan Africa has enormous potential as a solar market, and the customer base acquired by Shell through this transaction will provide a solid foundation for future expansion.

Daystar Power Group announced the signing of an agreement to be acquired by Shell on September 28, 2022.

Read also African Cleantech Startup ScarabTech Raises Seed Funding From GIIG Africa Fund

Daystar will continue to operate as a wholly owned subsidiary of Shell under its current brand inside Shell’s Renewable & Energy Solutions business.

Shell’s existing operation in Nigeria has been serving consumers for almost 40 years. Shell Nigeria has further information.

Shell is investing in increasing generation capacity around the world. Shell currently has over 46 gigatonnes of renewable generation potential in our portfolio (Shell equity), including 2.2 gigatonnes in operation, 3 gigatonnes under construction/contract, and 40.9 gigatonnes of potential capacity in our pipeline, ranging from utility-scale solar to innovative floating wind projects and integrated wind to hydrogen projects.

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert. 
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard. You can book a session and speak with him using the link: https://insightsbyexperts.com/view_expert/charles-rapulu-udoh

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International Trade Center Partners With MFS Africa Accelerate Digitization In 10 African Markets

MFS Africa

MFS Africa, a pan-African fintech, and the International Trade Center (ITC), a joint World Trade Organization and United Nations institution, have struck an agreement to advance the digitalization of African markets.

According to a press release issued by the UN agency, the two organisations will provide assistance to small and medium-sized enterprises (SMEs) in ten African markets (Benin, Côte d’Ivoire, Ethiopia, Ghana, Mali, Rwanda, Senegal, Uganda, Tanzania, and Zambia) through product integration, fintech and digital payments capacity building, investment exposure, and B2B meetings.

MFS Africa
MFS Africa

“Through this collaboration, the centre will reaffirm its commitment to assisting small businesses in gaining access to finance and technology, as well as collaboratively achieving SDG 8. (decent work and economic growth). This collaboration is the next stage in ICT’s goal of collaborating with the private sector to scale solutions that help small firms “said Robert Skidmore, the Center for International Trade’s Head of Sector and Business Competitiveness.

Read also Nigeria’s Vehicle Finance Startup Moove Raises $30M In Bond Debut

According to the LSEG Africa Advisory Group’s 2018 report, “The difficulties and prospects of SME finance in Africa,” SMEs play a critical role in job creation and economic growth. They account for around 90% of enterprises in Africa, provide 60% to 80% of jobs, and contribute 40% of GDP. In comparison, SMEs account for 53% and 65% of enterprises in the United States and Europe, respectively.

ITC and MFS Africa will work together to place small companies at the centre of financial inclusion and digitization. The collaboration is a crucial step in advancing the United Nations 2030 Agenda for Sustainable Development. It will “create a new age where small enterprises are at the centre of economic growth for the benefit of millions of African residents,” according to Ali Ouedraogo, head of expansion at MFS Africa.

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert. 
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard. You can book a session and speak with him using the link: https://insightsbyexperts.com/view_expert/charles-rapulu-udoh