It has since grown its footprint across Africa and increased its product offering to include electronics like smartphones. The new round brings total debt and equity funding raised by Yellow to $45 million. Yellow claims to be profitable having recorded a compound annual growth rate (CAGR) of 265% over the last four-year period. Cleantechs attracted $863M in equity or 18% of the total funding raised by African startups, according to 2022 Partech Africa report. Commenting on the Yellow investment, Convergence Partner CEO, Brandon Doyle, said, “we are excited to be backing the Yellow team.

Source: The North Africa Journal June 19, 2023 14:01 UTC