African Tech Firms Secure Funding and Launch New Digital Services - August 2025

Technology companies across Africa have announced new funding rounds and strategic initiatives to expand digital services. Street Wallet, a fintech startup in Cape Town, raised USD 350,000 to help informal traders go cashless, bringing its valuation to USD 2 million. In Egypt, the online grocery delivery platform Breadfast secured $10 million in Series B2 funding from investors including the European Bank for Reconstruction and Development (EBRD) to expand its fulfillment network. Meanwhile, Visa has partnered with PEMANDU Associates to help governments in Africa accelerate digitization and financial inclusion. In Kenya, Safaricom launched B-LIVE, a new time-based data option allowing customers to purchase internet access by the hour rather than by volume.

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Street Wallet secures $350K to help informal traders go cashless

Street Wallet, a fintech startup based in Cape Town, has successfully raised USD 350,000 in new funding, bringing its valuation to USD 2 million. This investment aims to fuel the company's expansion, particularly in reaching more underserved communities within South Africa's informal economy.