African startups AfyA Care, Eden Care, Hoods and Unlock raise capital

 African startups AfyA Care, Eden Care, Hoods and Unlock raise capital

Nigerian healthcare venture AfyA Care has raised $6 million in a Series A funding round from West African private equity fund manager CardinalStone Capital.

Led by Tosin Runsewe, AfyA Care invests in healthcare assets in Nigeria. The three-year-old venture targets low-mid and mid-high-end hospitals, health insurance and health tech companies, seeking to build vertically integrated healthcare institutions and optimising delivery models through the aggregation of hospital capacity and demand.

The company has a portfolio of hospitals with 215 beds under the R-Jolad Hospital banner to serve its low-to-mid market consumers. It is also developing a 140-bed hospital under its Oakwood Medical Centre brand to serve the mid-high-end market.

It also has other brands under its management such as EROM Diagnostics, Octosoft (health-tech) and Bastion HMO (health insurance).

Eden Care

Rwandan digital insurer Eden Care has raised an undisclosed amount in a pre-seed investment round from DOB Equity, Seedstars International, Norrsken Foundation, and Bathurst Capital.

Launched last year by Moses Mukundi, Eden Care is a digital health underwriter that leverages technology and data science to help members seamlessly navigate the healthcare system.

Moses Mukundi, CEO and Founder of Eden Care, said: “Eden Care was founded to create the kind of health insurance we wanted for ourselves – one that is affordable and doesn’t require filling six pages of documents at the hospital and a three-hour wait time. One where we can easily see our benefits and provides wellness tools, community, and incentives to enable us to get and stay healthy.”


Egyptian B2B marketplace for professional services Unlock has secured an undisclosed six-figure (under $1 million) funding round led by UI Investments along with a group of angel investors.

Co-founded by Fady Younan and Mona El-Kheshen two years ago, Unlock connects companies to service vendors across multiple verticals including marketing, software development, accounting, and consultancy. It says it has served 600 companies to date, generating a turnover of more than $3 million dollars for its vendor partners.


Egyptian live e-commerce platform Hoods that enables shoppers to find and compare brands through live video, has raised an undisclosed amount in funding from buy now pay later (BNPL) platform valU.

Hoods was founded by Mostafa Hanafi and Waleed Ghalwas two years ago and has recently secured $350,000 in a pre-seed investment round. It is not clear if valU is joining as part of an extension of the same round.

For valU, a subsidiary of Egypt-based investment bank EFG-Hermes, this comes soon after it recently a takeover of Paynas, an employee management and benefits platform. It also acquired a minority stake in Kiwe, a fintech startup targeting younger demographics.

Vivek Sinha

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