Representative Matters

  • Feb 2021

    Ared limited on a corporate reorganisation - delaware flip transaction.

  • Jan 2021

    Sanucoin, Africa’s first gold-backed crypto-coin on the appropriate structure to operate in Rwanda.

  • Dec 2020

    Kray microfinance Ltd on preparing and offering a $90,000 series shield - revenue backed equity repurchase seed round.

  • Dec 2020

    Ubutaka farm mechanisation Ltd on a £20,000 series shield-convertible revenue loan financing.

  • Dec 2020

    Fieldcloud SAS, on negotiating software and hardware as a service reversibility plan with Veolia.

  • Dec 2020

    Giz, i4policy and the Government of Rwanda on the creation of the Rwanda startup act/law framework.


Every couple of months, we compile market data of series shield financing documents. The data is derived from completed and ongoing early stage investment deals at Bytelex Advocates between Sept 2020 – June 2021.

When Jumia went public there was heightened frenzy in the ecosystem. The debate quickly shifted to whether the company was an African startup.