Dealflow | November 23, 2021

CcHUB Syndicate backs five startups in Nigeria and Ghana

Jessica Pothering
ImpactAlpha Editor

Jessica Pothering

ImpactAlpha, November 1 – Tech accelerator and investor CcHub co-invests with the African diaspora, angel and early-stage investors to mobilize capital to promising tech ventures in West and East Africa. CcHUB’s third funding round supported Ghana-based farmer financing platform Grow For Me and four startups in Nigeria: Kwaba, a fintech helping low-income earners cover home rental payments; identity verification and security startup Identitypass; digital payments and remittance platform Payday; and ride-sharing company Shuttlers.

CcHUB’s Victoria Fabunmi told ImpactAlpha the syndicate is mobilizing investments from Africans abroad “to unlock additional local and counterpart funding that deepens the quality of capital available to local entrepreneurs.”

In its first two rounds, the year-old initiative catalyzed $450,000 for a half-dozen companies. Three of the companies directly supported the COVID mobilization: medical and blood delivery company LifeBank; cold storage provider Gricd; and pharmaceutical procurement company DrugStoc, which just raised a $4.4 million funding round.