African startups secure funding for fintech, mobility, and waste management

Several African-focused startups have secured significant funding to expand their operations. Egyptian payments infrastructure provider Paymob raised $35 million in a pre-Series C round co-led by Abu Dhabi’s Mubadala Investment Company and the European Bank for Reconstruction and Development. Paymob, which operates in Egypt, the UAE, Saudi Arabia, and Oman, intends to use the capital to scale digital payments across the MENA region and develop products for SMEs.

In the electric mobility sector, pan-African company Spiro secured an additional $18 million in debt from the Africa Go Green Fund, bringing the total commitment to $36 million. The funds will support electric motorcycle deployments and battery-swapping infrastructure in Uganda and Rwanda. Spiro currently operates over 135,000 electric motorcycles across seven African markets.

Additionally, the Egyptian startup Bekia raised $765,000 in a seed round led by Madica to expand its digitized waste collection platform and launch its first B2B software product.