A large portion of this seed funding was invested in fintech startups. Copyright 2022 Zawya. Egypt remained the destination for venture capital in North Africa, as a $50 million round led by PayPal Ventures in fintech startup Paymob showed. The company plans to use the new funding to launch a pan-African payment platform next year and grow its VoIP market share. Grants for Startups in Kenya 2024 Unesco Scholarships for Developing Countries Sign Up Now for funding emails It was founded by Jesse Ghansah and Barima Effah and is expected to launch in June 2021. Pre-seed funding is an early funding round in which investors provide a startup business with capital (sometimes up to $2 million) to develop its product in return for equity in the company. 2025 Opportunities for Africans Scholarship-positions.com Australia AFD supports incubators, hubs and accelerators that promote innovation and entrepreneurship. Notably, Nigerian startups accounted for one-third of Googles beneficiaries in 2022. Commonwealth Shared Scholarships 2024 Cameroon, Chad, Democratic Republic of Congo, Cte d'Ivoire/ Ivory Coast, Benin, Burkina Faso, Gabon, Gambia, Ghana, Guinea, Liberia, Mali, Nigeria, Senegal, Sierra Leone, Togo, Niger, Dijbouti, Ethiopia, Kenya, Mauritius, Rwanda, Somalia, Somaliland, Tanzania, Uganda, Burundi, Malawi, Madagascar, South Africa, Zambia, Zimbabwe, Angola, Mozambique, Lesotho, Algeria, Egypt, Morocco, Sudan, Tunisia, Congo, Agence d'encadrement et de dveloppement des PME, Association Entrepreneurs & Dveloppement, Sngal, Cte d'Ivoire/ Ivory Coast, Madagascar, Burkina Faso, Niger, Cameroon, Ghana. Dean Hiine, the startups co-founder and managing director for Africa, told TechCrunch that existing digital payment methods in Africa are scattered and some involve lengthy and complex processes, affecting its conversion rate. This support can focus on technological issues or concern typical issues for start-ups (strengthening accounting, marketing support, training teams, etc.). African Scholarships for Undergraduates 2022. The goal of this accelerator is to invest in 100 startups from the African continent over the next four years. AFD Group is an active partner that combines long-term financing and technical and strategic assistance. Opportunity Desk Internship Young Caribbean Water Entrepreneurs Shark Tank Competition African Union Scholarships 2023 Okra This Nigerian fintech startup needs no introduction. Hiine, who co-founded the startup with Hans Osnabrugge and Jorne Schamp in 2016, hopes to tap the payment platform to enable more people across the continent to make international calls through its app. Sponsored Short Courses for Developing Countries 2023 Business Insider Africa presents 10 African startups that have sealed the largest funding rounds in January 2022. The Johannesburg-based venture firm has invested in many well-known startups such as BuuPass, Zuri Health and Zazuu. Flat6Labs, an Egyptian accelerator, comes in at sixth place among Africas top investors. About 20 startups are currently listed on its platform and over $400,000 has been invested on the platform. 1 min read January 18, 2023 Members. $20,780,000+ *Data updated daily at 18:00 EAT. Grants for Entrepreneurs 2023 Opportunity Desk 2023 With data in and around blockchain in Africa still scarce, the first Africa Blockchain Report will be an important milestone. to help it expand across East Africa. Startups raised $4.6 billion in 2021 itself a record year. Grant Opportunities for Entrepreneurs 2023 In 2022, it was the seventh-most active investor in Africa's startup ecosystem with 20 deals. A large portion of this seed funding was invested in fintech startups. Financial institution dedicated to boosting the contribution of the private sector to the sustainable #development goals. All rights reserved. 2025 Opportunity Desk Seed funding for African startups is important for a number of reasons. However, this year has been different. Developing Countries Scholarships From 55 startups successfully funded in 2015 to 359 in 2020, Africa appears to be at the dawn of a startup revolution, with the ecosystem growing at a 46% annual rate, which is six times faster than the global average, according to BCG. The continent's tech economy is its stronghold Concluding the launch of the African Blockchain Report, Ian Putter, head of the Blockchain CoE&CA Training Office at Standard Bank Group, the largest African bank by assets, said: Africa matters. Here are the top 10 investors in African startups by the number of deals closed in 2022. Will privatisation rescue Kenyas national carrier? Last year, the global economy struggled. In the same month, it made history as the first Rwandan startup to get into the Techstars Toronto Accelerator Program. Besides, the UN Challenge, which will support a changemaker, is also an important source of capital for African startups. Since 2011, LoftyInc has invested made over 160 deals on the continent, including many stand-out names like Flutterwave and Andela. The program is led by the association I&P Entrepreneurs et Dveloppement, which supports African entrepreneurs. Intensive support for managers for growth management. See more. Sponsored Short Courses for Developing Countries 2025 Plug and Play rounds up the top ten investors ranking, tied with Founders Factory at 18 deals. 8. In this article we have listed our top 21 startup accelerators in Africa. Commonwealth Shared Scholarships 2025 They are often riddled with inefficiencies and red tape in the cases where they exist. Masters Scholarships for African Students 2024 Opportunity Desk 2024 Akro Accelerate 3. Digital Africa funds Under this initiative, Agence Franaise de Dveloppement (AFD) is making the EUR 15m Digital Africa seed fund available to innovative African start-ups. The AFD Digital Challenge is an annual competition which rewards five to ten start-ups that have developed innovative solutions for Africa. Duplo digitizes payment flows for African B2B enterprises, gets $4.3M seed funding Africa-focused fintech Zazuu raises $2M to scale its cross-border payment marketplace MoneyHash gets $3M to. Grants for Entrepreneurs 2024 Zedcrest Capital has invested in three startups in pre-Series A stages since it spun out this fund some months back, forking out between $200,000-$500,000 checks in the process. In addition to being sports fans, the founding team has a decade-long association with startups and now unicorns Flipkart and Udaan. They use Insights from two Black tech founders in Philly on raising capital from VC's, even when the percentage of money going to Black founders is so low. Funding Opportunities for Entrepreneurs 2024 Call for Proposals - Can Technology Accelerate Learning and Skills? entrepreneurial solutions partners (esp), in partnership with the u.s. african development foundation (usadf) and close collaboration with ecobank, has launched the african resilience initiative for entrepreneurs (arie) - a pan-african initiative to provide financial and technical assistance to 300 entrepreneurs (approximately 70% of whom will be The company said its internet calling app has connected 2.3 million people worldwide so far this year, and attained 167% growth in customers and 130% in revenues. Data from Africa: the Big Deal shows that African startups raised more than $4.85 billion by the end of December, a 4.75 per cent increase over the same period last year. Scholarship for Developing Countries in Engineering "Legitimate Opportunities for Entrepreneurs Available Now" After several years over year and quarter over quarter, the African Fintech sector continues to represent the majority of funding raised on the continent in 2022. A report by Briter Bridges and Catalyst Fund puts the average seed round of African startups at $1.7 million compared to $4.6 million and $5.7 million for Indian and Latin American startups, respectively. The Knight Fund is inspired by the current slowdown in startup funding for African founders as global investors retreat to focus on their core markets, it added in a statement. Scholarships for Developing Countries 2025 If successful, seed funding for African startups can yield a decent return. Consult the list below to see the local partner incubators and find out more about the available services (financing, mentoring, training, etc.). Seed funding is also known as start-up capital, or seed investment. While the specific amount of the investment has not been published, it represents the companys first equity-led round following initial fundraising from several angel investors. Insights from two Black tech founders in Philly on raising capital from VC's, even when the percentage of money going to Black founders is so low. While actively participating in Africa, we are amazed and humbled by the determination of the brilliant founders who are changing the future not just for their industries and nation but for the world. Commonwealth Shared Scholarships 2023 The immediacy of existential threats as experienced by Africans requires a different pace. Fully Funded Youth Opportunities 2024 These advances sometimes improve existing systems, but, more often than not, they leapfrog the entire legacy system. Talk360s latest investors include Allan Gray E2 Ventures (AGEV), Kalon Venture Partners, E4E Africa, Endeavor, existing lead investor HAVAC and a number of angel investors, including Tjaart van der Walt and Coenraad Jonker. Opportunity Desk | the One Stop Place for Global Opportunities! How Libyas petroleum sector is taking a tough route to democracy. In Africa, there is a mindset that complements Switzerland's determination and a will to create well-being for its citizens and the future of humanity. Marketforce, Mono, PiggyVest, RelianceHMO and Nomba are some notable names on its portfolio. Undergraduate Scholarships for Developing Countries It's exciting to see that the record is on its way to being broken in 2022. Fully Funded Masters Scholarships for Developing Countries Fully Funded Youth Opportunities 2025 developing Countries Scholarships ScarabTech, a cleantech start-up, is planning many commercial projects in Africa, Asia, and Australia as a result of a seed funding round from GIIG Africa Fund, a "profit and purpose" fund. Grants for African Entrepreneurs 2023 The inaugural African Blockchain Report, published by CV VC in collaboration with Standard Bank, highlights that obstacles to global transformations seem surmountable when seeing Africa's urgent actions to utilise blockchain becoming the norm. Advertisement. - The regulatory quagmire is clearing as six nations have regulated, and others are making headway; and - Blockchain in Africa is unique as it is driving from the bottom up, where essential industries are propelling forward with blockchain tech, agriculture, mining, remittances, inclusion, identity, and property, to name a few. Commonwealth Scholarship Malaysia Digital Africas mission is to build the capacity of African tech and digital entrepreneurs to design and scale innovations for the real economy. Seed funding for African startups can support a wide range of companies. It highlights that blockchain funding far outpaced all other sectors, 11 times. Early-stage venture capital firm Microtraction, which invests in African tech startups at the pre-seed stage, has announced a US$15 million first close of its second fund, counting a number of established African tech startup founders among its LPs. Ventures Platform has made over 60 investments since its launch in 2016. Some African startups have attracted interest from Silicon Valley venture capital firms. Hes also a corporate governance and cross-border data privacy and tax expert. Deadline: 30 April 2021. The technology aims to address the growing impact of single-use plastics on the health of both local communities and the environment, while also providing a sustainable source of energy and job creation to address energy poverty and power micro-economies in underserved communities throughout Southern Africa and the world. AUC Venture Lab 5. Since our first investment, the company has shown spectacular growth, and a genuine ability to crack the challenge of distribution in Africa. Akiba Digital's longer-term plans are ambitious and worth keeping an eye on. Duplo digitizes payment flows for African B2B enterprises, gets $4.3M seed funding, Africa-focused fintech Zazuu raises $2M to scale its cross-border payment marketplace, MoneyHash gets $3M to build a super-API for payment operations in Africa, Mideast. So now, we are dedicating $10 million to this category of slightly more mature businesses going through a rough patch because the market is very tight.. Required fields are marked *. This non-dilutive $3 million fund is allocated across a pipeline of 50 investable startups in Africa. Talk360 users make calls at a fee, with its platform built in such a way that only the initiator needs the app and internet a smartphone to make calls. Last January, FinDev Canada - Canadas development finance institution - invested $13 million in the Energy Entrepreneurs Growth Fund (EEGF), which invests in early and growth-stage energy startups in Sub-Saharan Africa. It has funded several fintech startups, including toast.com and Fintech Africa. African Startup Funding Tracker. "African economies are in danger of even further marginalisation due to macro trends towards economic deglobalisation. Apply Now: $50,000 for Your African Technology Startup By Wayan Vota on August 8, 2022 Emerging technology startup companies at the pre-seed or seed stage (operating for less than two years and currently generating income) usually need to raise funding, build industry networks and gain global visibility. The talk of the town is that African startups are feeling the pressure of the global market downturn and venture capital slowdown as these international investors pull out term sheets and cut back the number of rounds previously earmarked for the region. Support, co-working spaces, networking, etc. Many will also remember 2022 as the year of mass layoffs. Seedstars Africa Ventures is an early-stage venture capital fund investing in high-growth companies active across Sub-Saharan Africa. For the second consecutive year, the American tech giant provided equity-free funding of $4 million to 60 African early-stage startups through its Black Founders Fund. PAP Innovation Showcase 2023 For Climate Tech Startups (Up TO $10,000) https://lnkd.in/dUV6e87W Deadline: April 1, 2023 This is a global open call for climate and nature tech . 2023 Opportunities for Africans Scholarships for Developing Countries 2024 The startup operates a venture-funding platform connecting startups and investors, with anyone able to buy equity in a listed startup for as little as US$10. Grants for Startups in Kenya 2023 Cameroon, Chad, Democratic Republic of Congo, Cte d'Ivoire/ Ivory Coast, Benin, Burkina Faso, Gabon, Gambia, Ghana, Guinea, Liberia, Mali, Nigeria, Senegal, Sierra Leone, Togo, Niger, Dijbouti, Ethiopia, Kenya, Mauritius, Rwanda, Somalia, Somaliland, Tanzania, Uganda, Burundi, Malawi, Madagascar, South Africa, Zambia, Zimbabwe, Angola, Mozambique, Lesotho, Algeria, Egypt, Morocco, Sudan, Tunisia, Congo, Agence d'encadrement et de dveloppement des PME, Association Entrepreneurs & Dveloppement, Sngal, Cte d'Ivoire/ Ivory Coast, Madagascar, Burkina Faso, Niger, Cameroon, Ghana. Sign up for Semafor Africa: A rapidly-growing continents crucial stories. ), Mali, Cte d'Ivoire / Ivory Coast, Ghana, Tunisia, Senegal, Egypt, Kenya, Morocco, Democratic Republic of Congo, Uganda, Nigeria, Guinea, Burkina Faso, North Africa, Financing in early stage and growth $1 $10M. Masters Scholarships for African Students 2025 Commonwealth Scholarships for International Students 2024 Business Grants Scholarships for Developing Countries in Africa Opportunities for African Graduates ScarabTech, which was founded in 2018, specialises in the development of small-scale and extremely efficient plastic-to-energy devices known as Beetles. These machines, which were created utilising specific software algorithms and design, heat plastic waste, creating a vapour that is then caught and reconstituted into carbon-neutral fuel that can power generators and engines. For local funds such as Zedcrest Capital, it also makes sense to create such a fund because theres a much higher probability of getting into good deals that were otherwise overpriced last year. The Hague Institute for Innovation of Law (HiiL) is currently accepting applications for the 2021 Innovating Justice Challenge, it is calling to all game-changing justice startups that want to grow their impact and business. For early-stage startups running out of money, having raised and spent several million dollars in the past couple of years, access to follow-on capital required to transition to the next growth phase is crucial. They use A Google for Startups initiative giving access to funding to Black-founded startups in Africa. Once the company has its start-up funding, it will start growing fast and attracting customers. Flat6labs invests in startups in the Middle East and North Africa Region and has active seed funds in Egypt and a sister fund in Tunisia. The biggest tech hubs kept their strong leads with Nigeria and Kenya each topping a billion dollars in funding. Advance Africa Scholarships 2024 Commonwealth Scholarships for Masters Study Sharp minds are driving valuable developments, and investment capital is seeping in, albeit still smaller than the rest of the world. South African batsman Amla announces retirement at 39, OECD sees revenue gains from new tax pact reaching $250bln, China is reshaping the Belt and Road Initiative ahead of a post-pandemic era. 2023 Grants for Small Business in Nigeria Other African startups that have received seed funding have also been acqui-hired by international tech companies. Scholarships for Africans As the global venture capital market slows, Africa charts its own course, Africas startup market is bucking the global slowdown. Seed Funding for African Startups 2023 South Africas Talk360 raises $4M to build single payment platform for Africa. And for those writing, theyre going back to 2018 times where they take months for due diligence. Grants for Entrepreneurs 2025 Current Scholarships 2023/2024 - Fully Funded, Full Undergraduate Scholarships 2023/2024, Fully Funded Masters Scholarships 2023/24. Application Deadline: May 31st, 2022. Share this: Mareme Dieng, 500 Startups Lead, Global Innovation Strategy, Africa shares 500's vision for Africa. Techstars has been active in Africa since 2015 when it first invested in MAX, a mobility startup. Africa's Top 21 Startup Accelerators 1. But its also pertinent to know where this liquidity is coming from. The report's headline findings: - Companies raised $91m in Q1 of 2022, a staggering 1,668% YoY increase from Q1 of the previous year; - When comparing Q1 2021 vs Q1 2022, venture funding for African blockchain startups far outpaces the growth seen in general African venture funding - 1,668% vs 149% - showing 11 times the level of growth on a YoY basis; - Africa is the fastest adopting crypto continent globally, yet it has only a 0.5% share of total global blockchain venture funding, which stands at $25.2bn; - African blockchain funding of $127m in all of 2021 is similar in size to a single blockchain mega-deal of which there were 59 globally. PhD Scholarships for International Students - Fully Funded! "Standard Bank has been a pioneer in leveraging blockchain to bring speed and transparency to our customer base across Africa. Scholarship Position But Ventures Platform will likely beat this number this year because it recently closed a $46 million fund. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. ), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. Startup Grants 2023 The silver lining has been the self-fast-tracking of Africas digital and tech economy. Start-up support structures (incubators, accelerators and hubs) to build their capacities and become more professional. But 2022, when Techstars closed 39 deals, was its most active year on the continent. Zedcrest Capital has invested in three startups in pre-Series A stages since it spun out this fund some months back, forking out between $200,000-$500,000 checks in the process. Commonwealth Shared Scholarship 2024 Prospectus Scholarships for Developing Countries 2023 Their field of action covers 45 countries. Seed Funding for African Startups 2024 Explore the map to discover some ofthe start-ups, venture capital funds and entrepreneurial structures that the AFD Group supports in Africa. Sponsored Short Courses for Developing Countries 2024 Ronaldo v Messi: the last dance in Saudi Arabia or a fresh start? (EUR 15,000 in cash funding) By OFA - septembre 7, 2022 Application Deadline: November 12, 2022 ASIP is a program launched by Telecel Group as part of CSR activities. Its portfolio contains many popular startups, such as Flutterwave, Wave, Union54 and Releaf. CV VC intends that it will act as a leading enabler, through the launch of its African Blockchain Early Stage Fund. AFD Group is an active long-term partner, combining financing and technical and strategic assistance. After backing market leaders like Kuda and MarketForce, the VC has been aggressively spreading its bets among pre-seed, seed and series-A startups across Africa. Y Combinator, a US-based seed-stage accelerator, is a household name in Africas startup space. African startups have great business ideas, but they need seed funding to get going. Your email address will not be published. In the third quarter of 2022, funding declined by 55 per cent year-on-year. Tied at the top spot with Launch Africa, Google is also making giant strides in African technology. Scholarship for Developing Countries 2023 Postgraduate Scholarships for Developing Countries Phd Scholarships for African Students 2023 This money can also be used to register their business in the appropriate jurisdiction. From the ashes, however emerged Tripesa, which is building infrastructure and logistics to help companies . In October 2021, Payday raised a $1 million pre-seed fund to "build PayPal for Africa". Since the beginning of 2022, the US, Asian, and European money markets have been on a decline. 2 min read The news After raising $550,000 in a pre-seed round, Nigerian fintech startup, Pivo, has followed it up with $2 million in seed funding. Many Africans cannot rely on vast, centralised, regulated infrastructural systems. Eden Care, a licensed Rwanda-based digital insurer which offers affordable, accessible and personalized health coverage to businesses and their employees, has completed a pre-seed funding round from DOB Equity , Seedstars International , Norrsken Foundation, and Bathurst Capital. For context, African startups could barely raise $300 million in equity funding between April and May 2022. Most investors are not writing checks right now. Foreign investors have been dominant contributors to Africas numbers since 2015. 2023 Ventures Africa. African Union Scholarships 2024 Barbee said the GIIG Africa investment will be used to help the business finalise the Beetle reference design and ready to commence commercial production by December 2023, based on the insights acquired from these projects. Africa is a reminder that life matters and that there is a great need for everyone to work together to enable humanity to be well in all ways. ScarabTech, a cleantech start-up, is planning many commercial projects in Africa, Asia, and Australia as a result of a seed funding round from GIIG Africa Fund, a profit and purpose fund. Save my name, email, and website in this browser for the next time I comment. Funding for African Businesses The findings demonstrate how nations and stakeholder capitalists are beginning to step in and embrace Africa's self-determining participation in the fourth industrial revolution. Podeum was founded in 2022 by Ayush Prashant, Dhananjay Mishra, Mayank Sharma, and Parthsarthi. Scholarship Postions Swedish Scholarships for African Students Across the east African region, only 10% of all funding for startups went to local founders, according to a 2017 study by Village Capital. Founders Factory Africa closed 18 deals in 2022, ranking it ninth among Africas top investors. Opportunity Desk India Kenya: Call for Applications for Startup Funding Masters Scholarships for Developing Countries Scholarship-positions.com Usa Acting as a window, each partner offers a specific program and activates their own financial instruments to implement the fund locally. And from last years data, we see that even a tech winter did not stop them from deploying capital to the continent. All Rights Reserved, Silvergate Capital reports net loss of $1bln for the fourth quarter, Crypto hedge funds ended 2022 down almost 50% - BarclayHedge data, FTX reports $415mln in hacked crypto, Bankman-Fried says FTX US is solvent, Davos 2023: Hong Kong's Animoca Brands to double down on investments amid crypto winter, German online bank N26 to expand crypto trading, Bitcoin may trade between $50,000-$100,000 in three years - Scaramucci, Kuwaits GDP growth to be the slowest in GCC in 2023, VIDEO: 2023 economic outlooks of UAE, Saudi, Egypt, Iraq, ADNOC signs deal with Thyssenkrupp Uhde for ammonia-cracking plants, Interest rate hikes remain a key risk to UAE real estate market report, UAE's ADNOC to pilot carbon mineralising project in Fujairah, Crypto collapse leaves Nigerian student ambassadors in lurch, Kenyas financial regulators plan laws on crypto assets, Young Africans to drive e-payment growth, embrace cryptocurrency, FTX collapse crushes crypto dreams in Africa and beyond, Crypto exchange FTX invested billions in three Kenya startups: report, Saudi to drive innovation with World Economic Forum accelerator deal, Revealed: Most in-demand jobs, skills in UAE, Saudi Arabia, Saudi Aramco's trading arm acquires US refiner Motiva, World Bank is optimistic about 2023 despite turbulent 2022, Zambia received 'debt-for-nature' proposal from WWF for $13bln restructuring, Mideast Stocks: Most Gulf markets fall on China economic concern. They have real potential in terms of job creation and impacts on Africas development. This support mainly targets start-ups financed by AFD Group via PROPARCO & FISEA and addresses the following issues: Consult the list below to see the local partner incubators and find out more about the services available (financing, mentoring, training, etc.). A New $75M African Guarantee Deal Signed For African SMEs, Helm Hits a Billion Messages With DStv Assist, Significant Growth Ahead for Africas Mining Sector in 2023, The state of ICT in Nigeria the rise of the tech-savvy customer calls for humanised digital customer engagement, Tunisian Gaming Startup Galactech Acquired, Tunisian Authorities Prohibit Newly-Funded Algerian Mobility Startup Yassir From Operations, South African Gaming Startup Carry1st Raises $27M From Top VC Firms. The report's headline findings: - Companies raised $91m in Q1 of 2022, a staggering 1,668% YoY increase from Q1 of the previous year; - When comparing Q1 2021 vs Q1 2022, venture funding for African blockchain startups far outpaces the growth seen in general African venture funding - 1,668% vs 149% - showing 11 times the level of growth on a YoY basis; - Africa is the fastest adopting crypto . Undergraduate Scholarships for African Students 2023 (adsbygoogle=window.adsbygoogle||[]).push({}); Scholarship 2023/24 Opportunities for Africans 2025 Support, financing, co-working spaces, networking, etc. So if a startup has a short runway, you need someone who can give you money and will not take five months to make a decision, added Amzat referencing his funds capacity to fill in this need. These projects, and other in the field, are validating our business model and technology in its intended operating environment, a crucial step before we scale the business to start making an impact in the fight against plastic waste. Over $150,000,000 Opportunities for African Entrepreneurs 2023/2024 - Fully Funded masters Scholarships 2023/24 seed investment capital to the sustainable # development goals Libyas sector! Also a corporate governance and cross-border data privacy and tax expert are currently listed its. Fund is allocated across a pipeline of 50 investable startups in Africa the Program led... Africa: a rapidly-growing continents crucial stories some African startups can support a changemaker, is household. Sector is taking a tough route to democracy are some notable names its! Tough route to democracy about 20 startups are currently listed on its.! Portfolio contains many popular startups, including many stand-out names like Flutterwave and.. 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