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Funding rounds: who raised what in the past week?

A recap of funding rounds by statups in the past week written by Joan Aimuengheuwa 



Funding rounds
Source: Unsplash

It’s the start of another energetic week and in case you missed the amazing news of startups funding rounds last week; that is African startups adding to the billions of dollars in investments already raised in 2021, don’t feel left out.

ShowLove and CashBackApp’s pre-seed rounds, Pngme and Alerzo’s Series A, Gamr, myFanPark and VitruvianMD’s undisclosed funding rounds, all from across the e-commerce, e-sports, social networking and the health sectors, here’s a brief highlight of who raised what last week;

ShowLove’s $300k pre-seed capital

Innovative Nigerian social-gifting platform, ShowLove, raised $300,000 in pre-seed capital from Fedha Capital and other angel investors.

Funding rounds

ShowLove’s office

The startup makes the act of gifting interesting and unique. Via its platform, several African businesses market their products and services for interested customers to patronise.

The goal of the company is to establish a social network where everyone can express their wants and needs with a small group of people or the general public.

Gamr’s undisclosed seed round

Funding rounds

Screenshot of Gamr platform

Another Nigerian startup, Gamr,  a video gaming platform, received an undisclosed seed funding to scale across the continent, providing opportunities for gamers, tournament organisers and brands.

The seed round received participation from emPawa Africa, Adrenaline gaming, among other angel investors.

The e-sports company is a digital platform where game lovers interact and participate in tournaments, receiving cash prizes. Techplus sports is one of its championship games.

Pngme’s $15 million Series A round

Startups in Africa

Pngme’s founders, Brendan Playford and Cate Rung

Led by European VC firm Octopus Ventures, Pngme raised $15 million in a Series A round.

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Participants in the round included Raptor Group, Lateral Capital, EchoVC, Future Africa, Two Small Fish Ventures, and Unshackled Ventures. Angel investors included Hayden Simmons, Dan Kahn, Richard Talbot, and Kyle Ellicott of Intersect VC.

The data-driven platform provides solutions to help fintech companies develop their products without difficulty, enhancing their customer services.


Intending to expand beyond its current reach in Kenya, Nigeria, and South Africa, the company plans to expand its team and customer base.

CashBackApp’s $475k pre-seed round

Funding rounds

CashBackApp co-founders Simon Ngigi, and Allan Thiga

Kenyan-based CashBackApp raised a $475k pre-seed fund. Lofty Inc, Sherpa Ventures, Loyal VC, and several angel investors based in the US, UK, Nigeria, and Kenya also participated in the round.

CashBackApp partners with fast-moving consumer goods (FMCG) companies and merchants leveraging its app to deliver cashback to customers.

The mobile application enables FMCG companies to build customer loyalty, enabling them to earn cashback through M-Pesa on ordinary purchases.

MyFanPark’s undisclosed funding round

Funding rounds

myFanPark, a South African social networking platform, received an undisclosed amount of funding from Seed South, a South African VC firm.

Creating exciting moments between fans and celebrities, myFanPark allows users to interact with famous and influential personnel.

Through its platform, users can request shout-out videos from their favourite celebrities via paid services. Seven days is all it takes for celebrities to make the video message, which is then delivered to the fan via email and WhatsApp by myFanPark.


Startups in Africa

Team Alerzo

Nigeria’s Alerzo raised $10.5 million in a Series A round led by Nosara Capital, with participation from FJ Labs, several family offices from the United States, Europe and Asia, and angel investors such as Michael Novogratz.

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Offering real-time services to retailers, Alerzo serves as a supplier of fast-moving consumer goods (FMCGs). Its platform strengthens quick and easy clearing of inventories, helping to bridge the gap between retailers and FMCGs.


VitruvianMD’s undisclosed funding round

Startups in Africa

Founders of VitruvianMD, Frando Lin, Ifthakaar Shaik and Byron Jacobs

South African-based eHealth startup, VitruvianMD, raised an eight-digit South African rand to scale its operations and launch more pilots.

The round was led by the Singapore-based Verge Healthtech Fund with participation from several angel investors.

Focused on emerging markets, VitruvianMD leverages artificial intelligence and biomedical engineering to provide affordable, high-accuracy diagnostic tools to medical laboratories.

Join us this week as we help you stay informed of the happenings in the African startup world.

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