The Dutch entrepreneurial development bank that invests in private sector growth in developing countries.
Egypt’s Tagaddod raises $26.3 million to turn waste into clean fuel
Tagaddod raised $26.3 million in Series A funding to expand its operations. The funding round was led by The Arab Energy Fund, marking its first entry into the biofuel feedstock sector.
Accion Ventures Secures $61.6 Million Fund to Boost African Fintech Startups Amid Silicon Valley’s Declining Interest
Accion Ventures announced the final close of its new fund at $61.6 million. The investor pool includes Dutch bank FMO, France’s Proparco, and the Ford Foundation.
Nile Secures $11.3M to Power Agri-Tech Growth and Financial Access Across Southern Africa
Nile raised $11.3 million to boost its expansion across Southern Africa. The funding round was led by the Cathay AfricInvest Innovation Fund with support from FMO.
Kenyan BNPL startup Watu profits drop 85% to $1.2 million as loan defaults rise
Watu Holdings reported an 84% drop in profit to $1.2 million in 2024. The decline in profit is linked to rising loan defaults in core markets like Kenya, Uganda, and Sierra Leone.
Hydrobox Secures USD 9 Million from FMO to Expand Mini-Grids in Kenya
Hydrobox secures USD 9 million in debt financing from FMO. Funding will support the development of eight hydro-powered mini-grids.
