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
Gozem has secured $30 million to expand vehicle financing and digital banking in Francophone Africa. The funding will boost vehicle ownership for its drivers and grow its super app services.
Former Leatherback CEO, Ibrahim Ibitade has started a new cross-boder payments company months after stepping down. Ibitade said in October 2024, that he stepped down as CEO to start a family, but his return to the startup scene with a competing platform raises questions.
AHOY invests $3 million in Qme, an Egyptian SaaS startup, to revolutionise customer experience in Africa with AI-driven booking solutions.
As Bento’s future in Nigeria remains uncertain, businesses in Ghana have been left stranded due to the company’s failure to also remit pensions and taxes for its Ghanaian clients.
Raenest, a Nigerian fintech startup that offers multi-currency accounts across Africa, has raised $11 million in Series A funding to strengthen its presence in Nigeria and Kenya while expanding into the United States and Egypt.
While Helicarrier is still an active company according to Y Combinator, company filings show that some of the founders were terminated as directors in 2021 and 2023. The eight-year-old startup shutdown Buycoins Pro, one of its products, in 2023.
Bento Africa has rehired key staff to resolve payroll delays after a temporary shutdown.
Africa’s startup space is off to a strong start in 2025 as 40 startups secure $289 million in January reflecting growing investor confidence.
PaidHR’s earned wage access product has seen a 5,900% growth in 2024, disbursing over ₦150 million to 2,000+ users.
Following the stop-work directive by US President Donald Trump, i3 will scale back on its cohort size in Africa, focusing on growth-stage startups.
Bento pauses transactions after CEO Ebun Okunbanjo resigns, citing issues with the business model amid allegations of failing to remit PAYE deductions. His departure raises concerns about the startup’s future.
Months after announcing a Series B round led by Uber, Moove has acquired Y Combinator alumni, Kovi.
Nigeria’s foremost web hosting company GO54 formerly known as WhoGoHost has been acquired by South African HOSTAFRICA.
South African company Stitch has acquired Exipay, rebranding it as “Stitch In-Person Payments” to target major corporations. The move aims to enhance transaction efficiency and boost Africa’s fintech ecosystem.
i3 is selecting just 15 startups for its third cohort, offering bespoke support, grants, and access to partners to help African healthtech companies scale and solve critical healthcare challenges.
The Lagos State Inland Revenue Service (LIRS) has reportedly begun an investigation into Bento Africa, a Nigerian human resources (HR) and payroll management company, for what is described as a scam on companies that use its payroll service. This alleged scam was first called out in an X post by Sultan Akintunde, Co-founder of AltSchool…
Currency devaluation and a dearth of skilled talent are slowing cloud adoption in Africa, according to Andrew Mori, CEO of Deimos. However, talent retention strategies and localised cloud solutions could boost adoption.
Egyptian fintech startup MoneyHash has secured $5.2 million in a funding round aimed at unifying fragmented payment systems across Africa.
South African insurtech company Naked has raised $38 million in a Series B2 funding round to enhance advertising efforts to grow its customer base and expand its product offerings and market reach.
A new survey has revealed that Africa recorded the lowest number of investors in its startup space last year, compared to the three previous years.