Moove is one of those mobility platforms with a highly unique take on the vehicle and logistics market – and that has seen them net another $23 million in Series A funding to expand their services even better.

The start-up has its own credit analysis and financing system with which it uses to determine what car loans certain individuals are qualified for. Once a user chose to buy their vehicle via Moove, the start-up finances up to 95% of the purchase within a week of buying the car.

The loan repayments, which can be spread over 24 – 48 months, is designed such that the buyers can use a percentage of their weekly revenue to cover the loans. Thus, the platform keys into mobility services like Uber to allow users work off their car loans over an extended period while also earning on it.

As of the time of this writing, Moove has established itself as the preferred supplier of Uber vehicles in the Sub-Saharan Africa. Founded by two Britain-born Nigerians who have started a handful of other successful businesses in the past, this new funding will help the platform to increase its services and offerings even better.

According to the founders, this new funding will help to move into other African market, democratising vehicle ownership and improving mobility across the continent at the same time.

Kuda bank is one of the leading fintech platforms in the Nigerian space and the company continues to see multiple expansions with different fundraisers.

Just a few months ago, the company had a series A funding exercise where it netted about $25 million. Right now, the fintech has completed another series B funding which sees it goo home with no less than $55 million.

The new fundraising was completed at a $500 million valuation for the fintech brand, meaning it just has to double its current position to become a unicorn like Flutterwave.

Leading this investment round was Valar Ventures, one of the firms owned in part by Peter Thiel – a former founding member of PayPal. Co-leading the funding round was also Target Group which was already part of the fintech’s funding.

According to the CEO of the fintech, this new funding round is aimed at expanding the services of the company beyond the shores of Nigeria such that they can provide the same digital banking services to every African on the planet.

That is surely a lofty goal that will take some serious money and effort to reach. At this pace, though, nothing is impossible for the fast-growing fintech.

Jeel, an edutainment platform, was founded in 2019 with a goal to bring valuable education to children via entertainment. Since its inception by Ahmed Sobaih, the company has worked tirelessly to provide such content to kids between the ages of 3 and 9.

As of the time of this writing, this Egypt/ Saudi Arabian-based start-up has secured a seed funding of US$1.2 million to further expand its market and take its services to even more children.

The funding is supposed to help the company expand its team so that it has more hands to work on new products and projects for the kids. It is also expected that some of the money will be put towards the acquisition of better high-quality animation series, songs, videos and other content promoted on its platform.

Jeel has excelled in leveraging interesting models such as gaming, music, movies and videos to teach kids morals, ethics and everything they need to grow into better adolescents. Achieving this milestone is a stamp on the fact that what they are doing is in the right direction – and they will only get better from here.

CribMD came to the surface in June 2020 and in one year, has established itself as one of the fastest-growing eHealth startups in the country.

The service is based on connecting users with doctors and healthcare professionals that can deliver in-home services to them. In other situations, it also allows doctors and patients to enjoy the many benefits of telemedicine, bringing the needed healthcare to everyone wherever they are.

Having raised some US2.6 million seed funding earlier this year, the start-up has now purchased Charisland Pharmaceuticals, a retail pharmacy brand in the country.

CP has been around since 2009 and has, in that time, established authority and quality of its products and services in the market. However, the company is looking to exit the Nigerian space and return to the home country of Canada where it came from. It was, thus, a fine time to get an offer from the likes of CribMD and complete a sale too.

On the part of CribMD, this acquisition makes it possible to scale even faster and better, delivering better healthcare to their patients. Thus, patients can see their doctors online/ in-house and request for the prescribed meds via any of the retail CP outlets close to them.

With this move, CribMD continues to push the limits of how well and fast healthcare can be brought to the doorstep of those who need it.

PayHippo was launched last year in Nigeria as a digital solution providing vital loans to SMEs in the country and Africa at large. The selling point of the company was that they would be able to approve loans – in three hours or less – for those whom banks and other credit facilities might look down upon because of their credit history.

After spending a year in the market, it is laudable that the start-up has now secured a $1 million pre-seed funding to scale its services even higher.

The company has enjoyed stellar success with its in-house, alternative credit score model which it uses to assign loans and loan limits to those who come through the digital doors for fast cash. Given a 97% repayment rate of loans, it stands to reason that whatever the company is doing simply works.

The start-up had been running on the goodwill and funding of some Nigerian angel investors, family and friends as well as colleagues who believe in the idea. Now, the likes of Launch Africa, Sherpa Ventures, DFS Lab and Hustle Fund, among others, have come together to help the start-up attain even new heights.

The current funding will not only increase the rate of loans that can be given out but also empower the start-up to develop new products for the target market. Going this way, they stand to become one of the next best things to come out of Africa in the fintech space.