Startup Updates

Rubyx, a Senegalese fintech startup specializing in digital lending, has secured a EUR400,000 (US$440,000) loan from the French development finance institution Proparco. This funding will accelerate the rollout of Rubyx’s innovative algorithmic loan platform.

The company has secured equity funding from the Sanofi Global Health Unit’s Impact Investment Fund, a move that will enable Kasha to extend its reach to more African countries and enhance its technological capabilities.

This substantial investment marks a significant milestone in the company’s journey, enabling it to further its mission of helping businesses worldwide optimize their energy consumption.

Founded in 2022 by Tesh Mbaabu, Chpter has already secured $1.2 million in a pre-seed funding round. The company plans to use this new capital to enhance its technology stack and solidify its position in the market.

South African fintech startup Omnisient has secured a significant investment of $7.5 million (approximately R133 million) from Arise, an organization committed to enhancing financial inclusion across Africa through innovative fintech solutions.