Quartz Africa Weekly Brief: Dealmaker [Quartz]

Quartz Africa Weekly Brief: Dealmaker [Quartz]

Originally posted on Quartz

DEALMAKER

FairMoney, a neobank with operations in Nigeria and India, has raised $42 million in Series B funding. Tiger Global Management led the investment, with participation from existing investors DST Partners, Flourish Ventures, Newfund, and Speedinvest. With the fund, FairMoney aims to diversify offerings in its core markets, hire top talent, and accelerate customer acquisition.

MaxAB, the Egyptian B2B e-commerce platform, has raised $40 million in Series A funding to expand across the country and the MENA region. RMBV led the round, with participation from IFC, Flourish Ventures, Crystal Stream Capital, Rise Capital, Endeavour Catalyst, Beco Capital, and 4DX Ventures.