Funding

TurnStay, a South African travel-focused fintech, has successfully raised $300,000 (over R5.4 million) from Silicon Valley and New York investors DFS Lab and DCG. The company plans to leverage this funding to expand its operations across Africa and build on its significant market traction.

Uncover, a rapidly growing Kenyan marketplace for skincare products, has successfully closed an oversubscribed $1.4 million seed funding round. This fresh capital infusion is set to propel the company into new markets, including the US, Ghana, and Uganda.

The allocated funds will be utilized to establish a state-of-the-art charging station capable of supporting at least 20 electric buses (E-Buses) overnight.

The International Finance Corporation (IFC) has announced a significant financing package for TerraPay, an Africa-focused digital payments provider.