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The startup ecosystem in Uganda has experienced remarkable growth over the past five years, with an increasing number of entrepreneurs launching innovative ventures across various sectors. As these startups seek to scale their operations and drive impact, they have turned to investors for funding support. This analysis delves into the funding landscape of Ugandan startups from 2019 to 2024, uncovering key trends and insights that shed light on the startups that have raised the most funding. For a startup to be included on this list, we had a cut-off of at least $1m raised in its lifetime and 16 startups…
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Ugandan startups have increasingly become attractive to VC firms across Africa. Outside the big four of Kenya, South Africa, Nigeria and Egypt, Uganda regularly hovers next to them competing with other startup ecosystems like Ghana, Senegal, Tunisia, Morocco and Rwanda for the best of the rest. Today, we will rank the biggest funding rounds ever raised by Ugandan startups from 2019-2024. For starters, let’s break down what an investment round is. Throughout their lifetime, startups raise funding to meet their growth and scaling targets. A single startup can raise multiple funding rounds over time. Startup funding rounds usually start with…
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Mobile Money challenger startup, Wave, has been listed by the famed Silicon Valley accelerator program, Y Combinator in its inaugural Top Companies List by Revenue. The list was shedding light on the remarkable success stories within the Y Combinator community. With revenue being a key indicator of growth, this list recognizes the startups that have achieved significant net revenue throughout 2022. While specific revenue figures are kept confidential (most of the companies on the list are private companies so aren’t compelled by law to release their revenue), the collective achievements of these companies are nothing short of impressive, generating a…
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Visa, a global leader in digital payments, has unveiled the Visa Africa Fintech Accelerator program, a new initiative aimed at supporting and empowering Africa’s burgeoning fintech start-up community. The program will provide training, connections, technology, and investment opportunities for up to 40 fintechs annually, fostering their growth and contribution to Africa’s digital transformation. The Visa Africa Fintech Accelerator program, introduced by Visa Executive Chairman Alfred F. Kelly Jr. at the Bloomberg New Economy Gateway Africa event in Marrakech, Morocco, seeks to address the unique challenges faced by African fintechs and promote their expansion. The program will consist of a three-month…
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