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The main story this week is Moove’s expansion into Latin America through its acquisition of Kovi and Lemfi’s entry into Europe.
Moove Acquires Kovi
Moove has announced the acquisition of Kovi, a São Paulo-based urban mobility provider.
Launched in 2020, Moove is a key player in mobility marketplaces through its Drive-to-Own, Taxi, and Autonomous fleet models. The acquisition of Kovi expands its global fleet to 36,000 vehicles, operating across 19 cities on six continents. Kovi’s proprietary IoT software and advanced driver behavior algorithms will improve Moove’s AI-driven mobility strategy for greater efficiency and safety.
Lemfi’s $53M Series B and European Expansion
Lemfi plans to expand to European market through the acquisition of an Ireland-based company.
Since 2019, Lemfi has processed $1 billion in monthly payment volume. This growth has primarily come from Asia, where transactions have grown by 30% month-on-month. The startup’s expansion into China, India and Pakistan in 2024 has further positioned it as a global leader of its sector.
Thoughts?
Both Moove and Lemfi’s latest moves show the growing influence of African-founded startups on the global stage. This is a good thing for startups and the best motivation for startup founders in Africa.
What are your thoughts ? Reply and let us know!
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The week at a glance - Startup Funding Rounds
This week had had 7 major funding rounds raising over $8 million.
🇰🇪 Kapu Secures undisclosed amount in Pre-Series A funding to scale operations across Africa.
🇿🇦 South Africa’s NjiaPay secures $1M Pre-seed Funding.
Insight Terra, a South African Climate-Tech Firm, secures $5.7M series A extension.
🇪🇬 Egypt’s Fincart raises undisclosed amount in Pre-seed funding round.
🇿🇦 Verdant Capital Hybrid Fund completes USD 2 Million investment in UsPlus.
🇿🇲 Yeah raises $300,000 in Pre Seed funding from 54 Collective.
🇪🇬 Egypt’s Hoods raises $75,000 in an undisclosed venture series and $25,000 in debt financing.
Opportunities and jobs
Uber is looking for a driver operations manager in Kenya.
Qualcomm Opens Applications for 2025 ‘Make in Africa’ Startup Mentorship Program.
Africa Tech Summit 2025 Announces Finalists for Inaugural Awards.
i3 Africa Issues Call for Applications for Its 3rd Cohort.
Appointments
EFT Corporation Appoints Farai Tigere to Lead Zimbabwe Operations.
Other Stories
500 Global launched a MENA-Focused fund.
Swedfund Commits €40M to Boost Infrastructure in Africa and Asia
East Africa Leads in Digital Identity Fraud Rejection Rates at 27%.
Fahari Aviation to Host Africa’s First Advanced Air Mobility Symposium in Nairobi.
Microsoft Launches AI Skilling Initiative to Train 1 Million South Africans by 2026.
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