Startups
In nearly a decade, hundreds of entrepreneurs have emerged with innovative startups across the African continent. We provide insights on their experiences and highlight the activities of investors who fund them.
Top stories
Founded in 2020, Nigerian-based HR tech startup, Propel, raises $2.74 million in seed funding to expand its ecosystem of communities, scale its community platform, and introduce new client offerings.
Small businesses in Africa provide more than 80% of the continent’s jobs but do not often use technology in their operations. Moosbu wants to change it with an all-in-one tool for SMEs.
After 18 months of working with cross-border payments startup, Payday, Ogechi Yvonne Obike has announced her intention to step down as the company’s Chief Operating Officer (COO).
Delayed payments affect the cashflows and revenues of almost half of the MSMEs in Nigeria. But Nigerian fintech startup, Zuvy provides invoice financing to cushion these effects and now has $4.5 million to further its mission.
After four years of operating in Nigeria, PalmPay’s payments ecosystem reportedly has over 25 million users, 500,000 mobile money agents, and 300,000 merchants.
Aruwa Capital Management has invested $2 million in Fastizers to expand its product offerings in Nigeria. The Nigerian snack food and confectionery producer also plans to create more jobs with the funds.
Wave, a Senegalese fintech, is the only African startup on Y Combinator’s list of top 50 portfolio companies with the highest revenue in 2022.
Fresh from being named Africa’s best climate tech startup, Kubik has announced $3.34 million in seed funding to eliminate plastic waste in Africa.
More than $300 billion has been raised through Africa’s capital markets. However, investors remain restricted by geography. With ample experience in finance and technology, Eugene Tawiah and Duke Lartey founded SecondSTAX to increase access to capital markets in Africa.
Google for Startups has selected 25 African startups for the third cohort of its Black Founders Fund, with 10 Nigerian and 5 Kenyan grantees.
Markets like computer village in Lagos, Nigeria have an informal way of buying and selling electronics. However, Eze has raised $3.7 million to formalise the way they operate making it easy to get electronics.
Termii, a Nigerian customer engagement startup has raised $3.65 million as it launches what it calls the world’s first authenticator app that allows businesses to communicate directly with customers.
This acquisition will also offer Medius AI-enabled, mobile-first employee spend management capabilities.
If you ever have to deal with people for your business or job, E-Arbitrator’s melding of time honoured arbitration and AI technologies, might save you time and millions.
Shares of Tingo Group has dropped following a report that details irregularities in its business.
Moove provides vehicles for ride-hailing drivers in Nigeria with zero down payment. With drivers defaulting and the startup repossessing vehicles, how can the startup stay in business?
eCommerce giant, Jumia plans to expand its Ugandan operations into the country’s rural areas to provide quality products at competitive prices.
There’s a consensus that raising venture capital in 2023 is harder than previous years, but correctly sizing a startup’s market significantly improves its potential to raise capital.
To survive on a tight budget, businesses need to charge their users from the get-go. The amount of work it takes to reorientate users to pay for that product is simply not worth it
Gift card and crypto trading platform, Patricia has announced that it was a victim of a security breach that compromised its bitcoin and naira assets.