Consumer rewards app Maholla completes $1.5mn seed round, Afresco receives $1.5mn

Buffet Group, Castleton Capital, Praesidium Capital Management and Galloprovincialis have invested USD 1.5mn in the seed round for Maholla, a consumer rewards app based in South Africa.

The startup, which previously raised a USD 580,000 pre-seed round in July last year, will use the funds to grow its rewards platform and improve its technology.

Our company is on route to tracking as many purchases as a top 5 retailer in South Africa


The rewards app partners with CPG brands, restaurants and consumer research companies, providing them with granular, real-time information on purchasing habits. It also uses this data to create loyalty and rewards that influence shoppers’ habits.

EaaS company Afresco receives $1.5mn from InfraCo Africa

InfraCo Africa has invested USD 1.5mn to energy-as-a-service provider Afresco, a clean energy company operating in the C&I space.

The company’s initial plans are to develop solar PV and battery C&I energy solutions in Uganda, the DRC and Malawi and will meet client needs in the following areas; hospitality, agriprocessing and cold storage.

Afresco is headquartered in Uganda.

Kenya’s Raise secures funding from Carta

Raise, a Kenyan equity-management platform, has raised an undisclosed sum from counterpart, Carta—the world’s largest ownership platform, which has so far raised USD 1.2bn.

The investment is the US company’s first investment in Africa and builds on the startup’s two equity rounds, the first led by Microtraction in 2019 and the second by 500 Startups.

Raise was founded by Martin Coleby and Eugene Mutai.