Tracxn - Africa Tech - Top Business Models - Mar 2021

TRACXN TOP BUSINESS MODELS REPORT
March 24, 2021
AFRICA TECH

Africa Tech - Top Business Models Report Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Contents
AfricaAfrica Tech Funding - Overview 3
Top Funded Business Models 4
One pagers 9
Appendix 59
2

Africa Tech - Funding in last 1 year
3
Banking Tech $320M
Crop Tech $58.0M
Cryptocurrencies $20.0M
Pharmacy IT $18.5M
ERP $17.2M
Biotech R&D $15.0M
Y-o-Y Funding
Top Investors by Funding Rounds
Seed
Stage
Y Combinator
500 Startups
Flat6Labs Cairo
13
7
6
Early
Stage
FMO
Global Ventures
Y Combinator
4
3
2
Late
Stage
Goldman Sachs
Finnfund
LeapFrog
1
1
1
Funding by Geography
Top Feeds by $ Funding
Top Funding Rounds
$ Funding # Rounds
TYME
(2012, )
$110M - Series B
TymeBank
(2012, )
$110M - Series B
Naivas
(1992, )
$55.2M - PE
Jumo
(2015, )
$52.0M - Series C
Kuda
(2017, )
$25.0M - Series A
Swvl
(2017, )
$20.0M - Series C
mPharma
(2013, )
$18.5M - Series B
Aerobotics
(2014, )
$17.0M - Series B
Zagace
(2013, )
$16.7M - Seed
54gene
(2019, )
$15.0M - Series A
Adumo
(2009, )
$15.0M - Series B
SunCulture
(2012, )
$14.0M - Series A
Johannesburg (34%)
Nairobi (18%)
Cape Town (15%)
Lagos (12%)
Cairo (7%)
Others (14%)

Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Africa Tech - Top Business Models Report
Africa Tech - Top Funded Business Models - last 1 year (1/5)
4
Rank Business Model $ Funding # Rounds Top Funding Round Details
1▲15 Digital Native Retail Banks $145M 3 TymeBank | $110M | Series B Link
2-- KYC Solutions for Banks $110M 1 TYME | $110M | Series B Link
3-- KYC Solutions $110M 1 TYME | $110M | Series B Link
4<> 0
Alternative Lending > Online Lenders > Diversified >
Marketplace
$53.0M 2 Jumo | $52.0M | Series C Link
5▼2 Mobile Banking Software $52.0M 1 Jumo | $52.0M | Series C Link
6-- Agriculture Drones $22.5M 2 Aerobotics | $17.0M | Series B Link
7▼2
Road Transport Tech > Mass Transit > Shuttle >
Aggregator
$20.4M 3 Swvl | $20.0M | Series C Link
8▲12 Pharmacy IT > Pharmacy Management Systems $18.5M 1 mPharma | $18.5M | Series B Link
9-- ERP for SMBs $16.7M 1 Zagace | $16.7M | Seed Link
10▲25 Biotech R&D > Services and Enablers > Biorepository $15.0M 1 54gene | $15.0M | Series A Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

5
11▲25
Life Sciences Platforms and Tools > Research
Services > Biorepository > Gene Biobanking
$15.0M 1 54gene | $15.0M | Series A Link
12--
Crop Tech > Farm Equipment > Smart Solar Water
Pumps
$14.0M 1 SunCulture | $14.0M | Series A Link
13--
Crop Tech > Content Platforms > Farming Advice >
Farmer to Farmer
$11.0M 1 Wefarm | $11.0M | Series A Link
14<> 0 Cryptocurrency Exchanges $10.0M 3 ACDX | $10.0M | Seed Link
15--
Brands Tech > Operations Management > Logistics >
Informal Distribution
$10.0M 1 TradeDepot | $10.0M | Series A Link
16▲82 Online Cryptocurrency Trading Platforms $9.4M 2 XMEX | $6.0M | Series A Link
17--
Beauty Tech > Ecommerce > Multi Category > Full
Range > Retail > Rural > Women
$8.3M 4 Kasha | $5.3M | Series B Link
18▲24
K-12 EdTech > B2C Learning Solutions > School
Curriculum > Multi Subject > Online Courses > S..
$7.5M 1 uLesson | $7.5M | Series A Link
19-- Industrial Process Analytics $6.0M 1 DataProphet | $6.0M | Series A Link
20--
Healthcare Booking Platforms > Medical
Transportation > Ambulance > Booking Platforms
$5.9M 1 Capsule | $5.9M | Series A Link

6
21-- Flash Sales > Retailer > Fashion $5.7M 1 RunwaySale | $5.7M | Series A Link
22-- Banking-as-a-platform via Open Banking APIs $5.0M 3 Stitch | $4.0M | Seed Link
23-- Agent Based Payments $4.7M 2 Diool | $3.5M | Series A Link
24--
Productivity Software > Time Management >
Smartphone Usage Limitation
$4.3M 1 Opal | $4.3M | Seed Link
25▲30
Crowdfunding > Rewards > Community Projects >
Clean Energy
$3.7M 1 The Sun Excha.. | $3.7M | Series A Link
26▲30
Renewable Energy Tech > Solar Energy > Investment
Platform > Lease Rental Income
27▲30
Alternative Lending > Online Lenders > Green
Financing > Commercial > Marketplace
28▲33
Social Commerce > Community Based Shopping
Platforms > Diversified
$3.5M 1 Brimore | $3.5M | Seed Link
29--
Investment Tech > Wealth Management Platforms >
Savings Platforms
$3.5M 4 MoneyFellows | $4.0M | Series A Link
30-- Second Hand Car Listings $3.4M 1 Automarket | $3.4M | Seed Link

7
31-- Banking Tech > Correspondent Banking $3.0M 2 Dayra | $3.0M | Seed Link
32▲32
Alternative Lending > Online Lenders > Consumer
Loans > Payday Loans > Through Employer > On ..
$2.7M 4 NowPay | $2.1M | Seed Link
33▲30
HRTech > Benefits Administration > Financial
Benefits > On Demand Pay
$2.3M 3 NowPay | $2.1M | Seed Link
34▲58 HRMS for SMBs $2.1M 1 WorkPay | $2.1M | Seed Link
35--
Consumer and SME Loans > Consumer Loans >
Diversified
$2.0M 2 Umba | $2.0M | Seed Link
36--
Internet First Retail Bank with Partner Bank's
License
$2.0M 1 Umba | $2.0M | Seed Link
37▲9
Logistics Tech > Parcel > Technology Enablers >
Address Standardization
$1.8M 1 OkHi | $1.8M | Seed Link
38-- Online Grocery Delivery Marketplace $1.6M 2 Zulzi | $1.6M | Seed Link
39-- Conversational Banking $1.6M 1 FinChatBot | $1.6M | Seed Link
40-- Conversational Banking $1.6M 1 FinChatBot | $1.6M | Seed Link

8
41--
Photonics > Quantum Optics > Applications >
Scanning and Surveying > LiDAR
$1.5M 1 LightWare | $1.5M | Seed Link
42--
Alternative Lending > Online Lenders > Consumer
Loans > Point of Sale Financing > Direct Lend..
$1.5M 1 Credpal | $1.5M | Seed Link
43--
MarketingTech > Influencer Marketing > Influencer
Marketplace
$1.5M 1 Plaqad | $1.5M | Seed Link
44▼6 Banking Tech > Correspondent Banking > Enablers $1.5M 1 Nomanini | $1.5M | Series B Link
45-- Livestock Tech > ECommerce > Livestock Trading $1.5M 1 SwiftVee | $1.5M | Series A Link
46-- Residential Real Estate Listings $1.3M 4 Sakneen | $1.1M | Seed Link
47-- Online Business Payments $1.1M 3 OnePipe | $950K | Seed Link
48▼18 Bike Taxi $1.0M 1 IntiGo | $1.0M | Seed Link
49-- P2P Bank Remittance $1.0M 1 Flick | $1.0M | Angel Link
50-- SMS marketing $1.0M 2 Mobiz | $1.0M | Seed Link

Recent Funding Rounds
Digital Native Retail Banks - Africa
01
9
Back to index
Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$145M (▲871%)
3(▲50%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$160M
2
-
2
1
Banking Tech (Jumo)
(# Cos: 252 | $503M)
Internet First Banks (Umba)
(# Cos: 51 | $163M)
Digital Native Banks (TymeBank)
(# Cos: 11 | $160M)
Retail Banking (Kuda)
(# Cos: 2 | $160M)
Kuda
(2017, $36.6M)
TymeBank
(2012, $123M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
TymeBank (2012)
$110M - Series B - Feb 2021
Kuda (2017)
$25.0M - Series A - Mar 2021
Kuda (2017)
$10.0M - Seed - Nov 2020

TYME (2012)
KYC Solutions for Banks - Africa
02
10
Back to index
Banking Tech (Kuda)
(# Cos: 252 | $503M)
RegTech (TYME)
(# Cos: 15 | $123M)
Onboarding KYC and AML (Entersekt)
(# Cos: 12 | $113M)
Taxonomy
Key Stats
Africa Tech
$110M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$113M
4
-
12
0
Entersekt TYME
(2012, $110M)
Seamfix

KYC Solutions - Africa
03
11
Back to index
RegTech (Entersekt)
(# Cos: 37 | $123M)
KYC (TYME)
(# Cos: 18 | $113M)
Taxonomy
Key Stats
Africa Tech
$110M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$113M
6
-
18
0
TYME
(2012, $110M)
BACE Group
(2018, $100K)
Seamfix
TYME (2012)

Alternative Lending > Online Lenders >
Diversified > Marketplace - Africa
04
12
Back to index
Taxonomy
Key Stats
Africa Tech
$53.0M (▼3.6%)
2(▲100%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$186M
4
-
28
1
Alternative Lending (Apollo Agriculture)
(# Cos: 410 | $378M)
Online Lenders (OneFi)
(# Cos: 327 | $376M)
Diversified (Lupiya)
(# Cos: 42 | $186M)
Marketplace (Jumo)
(# Cos: 28 | $186M)
Jumo
(2015, $185M)
Lupiya
(2016, $1.0M)
Sycamore
Jumo (2015)
$52.0M - Series C - Sep 2020
Lupiya (2016)
$1.0M - Seed - Jul 2020

Jumo (2015)
$52.0M - Series C - Sep 2020
Mobile Banking Software - Africa
05
13
Back to index
Banking Tech (Kuda)
(# Cos: 252 | $503M)
Banking Channels (Sybrin)
(# Cos: 33 | $202M)
Mobile (Jumo)
(# Cos: 13 | $194M)
Taxonomy
Key Stats
Africa Tech
$52.0M (▼5.5%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$194M
5
-
13
1
Jumo
(2015, $185M)
Selcom Fundamo
(2000, $5.2M)

Aerobotics (2014)
$17.0M - Series B - Dec 2020
Aerobotics (2014)
$5.5M - Series B - May 2020
Agriculture Drones - Africa
06
14
Back to index
Drones (Southern Mapping)
(# Cos: 51 | $27.4M)
Services (Arone)
(# Cos: 29 | $27.1M)
Precision Agriculture (Aerobotics)
(# Cos: 11 | $27.1M)
Taxonomy
Key Stats
Africa Tech
$22.5M ( -- )
2( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$27.1M
2
-
11
1
Aerobotics
(2014, $27.1M)
WeFly Agri Revolute Systems

Road Transport Tech > Mass Transit > Shuttle >
Aggregator - Africa
07
15
Back to index
Taxonomy
Key Stats
Africa Tech
$20.4M (▼51.4%)
3(▲200%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$101M
4
-
8
1
Road Transport Tech (SafeBoda)
(# Cos: 575 | $190M)
Mass Transit (WhereIsMyTransport)
(# Cos: 72 | $126M)
Shuttle (PlentyWaka)
(# Cos: 9 | $101M)
Aggregator (Swvl)
(# Cos: 8 | $101M)
Swvl
(2017, $101M)
PlentyWaka
(2019, $420K)
LULA
Swvl (2017)
$20.0M - Series C - May 2020
PlentyWaka (2019)
$300K - Seed - Aug 2020
PlentyWaka (2019)
$120K - Seed - Mar 2021

Pharmacy IT > Pharmacy Management
Systems - Africa
08
16
Back to index
Pharmacy IT (Wella Health)
(# Cos: 31 | $54.7M)
Pharmacy Management Systems (mPharma)
(# Cos: 11 | $51.7M)
Taxonomy
Key Stats
Africa Tech
$18.5M (▲56.8%)
1(▼50%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$51.7M
3
-
11
1
mPharma
(2013, $51.7M)
Wella Health Chifa Mobile
mPharma (2013)
$18.5M - Series B - Apr 2020

Zagace (2013)
$16.7M - Seed - Sep 2020
ERP for SMBs - Africa
09
17
Back to index
ERP (Sokowatch)
(# Cos: 423 | $45.4M)
Multi-Industry (CashMadam)
(# Cos: 147 | $16.8M)
SMB-Focused (Zagace)
(# Cos: 77 | $16.7M)
Taxonomy
Key Stats
Africa Tech
$16.7M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$16.7M
3
-
77
1
Zagace
(2013, $16.7M)
CashMadam Inabex

54gene (2019)
$15.0M - Series A - Apr 2020
Biotech R&D > Services and Enablers >
Biorepository - Africa
10
18
Back to index
Biotech R&D (5nines Technologies)
(# Cos: 4 | $19.5M)
Services and Enablers (Inqaba Biotec)
(# Cos: 2 | $19.5M)
Biorepository (54gene)
(# Cos: 1 | $19.5M)
Taxonomy
Key Stats
Africa Tech
$15.0M (▲233%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$19.5M
1
-
1
1
54gene
(2019, $19.5M)

Life Sciences Platforms and Tools > Research Services >
Biorepository > Gene Biobanking - Africa
11
19
Back to index
Taxonomy
Key Stats
Africa Tech
$15.0M (▲233%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$19.5M
1
-
1
1
Life Sciences Platforms and Tools (Inqaba Biotec)
(# Cos: 38 | $19.5M)
Research Services (SNC Fibers)
(# Cos: 20 | $19.5M)
Biorepository (Next Biosciences)
(# Cos: 7 | $19.5M)
Gene Biobanking (54gene)
(# Cos: 1 | $19.5M)
54gene
(2019, $19.5M)
54gene (2019)
$15.0M - Series A - Apr 2020

SunCulture (2012)
$14.0M - Series A - Dec 2020
Crop Tech > Farm Equipment > Smart Solar
Water Pumps - Africa
12
20
Back to index
Crop Tech (Twiga)
(# Cos: 359 | $216M)
Farm Equipment (UkulimaTech)
(# Cos: 4 | $14.2M)
Smart Solar Water Pumps (SunCulture)
(# Cos: 1 | $14.2M)
Taxonomy
Key Stats
Africa Tech
$14.0M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$14.2M
1
-
1
1
SunCulture
(2012, $14.2M)

Crop Tech > Content Platforms > Farming Advice
> Farmer to Farmer - Africa
13
21
Back to index
Taxonomy
Key Stats
Africa Tech
$11.0M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$32.0M
1
-
5
1
Crop Tech (Twiga)
(# Cos: 359 | $216M)
Content Platforms (Esoko)
(# Cos: 37 | $35.7M)
Farming Advice (Tulaa)
(# Cos: 24 | $35.4M)
Farmer to Farmer (Wefarm)
(# Cos: 5 | $32.0M)
Wefarm
(2015, $32.0M)
Agriteer Agricbase.com
Wefarm (2015)
$11.0M - Series A - Mar 2021

Cryptocurrency Exchanges - Africa
14
22
Back to index
Taxonomy
Key Stats
Africa Tech
$10.0M (▼33.3%)
3( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$25.2M
7
-
320
1
Cryptocurrencies (Wala)
(# Cos: 598 | $63.1M)
Financial Services (BitPesa)
(# Cos: 508 | $61.3M)
Investment Industry (VALR)
(# Cos: 414 | $36.2M)
Crypto Exchanges (OVEX)
(# Cos: 320 | $25.2M)
OVEX BuyCoins
(2017, $120K)
Bitfxt
(2017, $15.0M)
ACDX (2020)
$10.0M - Seed - Sep 2020
OVEX (2017)
Undisclosed - Seed - Jan 2021
ACDX (2020)
Undisclosed - Seed - Sep 2020

Brands Tech > Operations Management >
Logistics > Informal Distribution - Africa
15
23
Back to index
Brands Tech (Rancard)
(# Cos: 5 | $13.5M)
Informal Distribution (TradeDepot)
(# Cos: 1 | $13.0M)
Taxonomy
Key Stats
Africa Tech
$10.0M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$13.0M
1
-
1
1
TradeDepot
(2015, $13.0M)
TradeDepot (2015)
$10.0M - Series A - Jul 2020

Online Cryptocurrency Trading
Platforms - Africa
16
24
Back to index
Taxonomy
Key Stats
Africa Tech
$9.4M (▲9350%)
2(▲100%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$11.1M
4
-
72
2
Cryptocurrencies (Wala)
(# Cos: 598 | $63.1M)
Financial Services (BitPesa)
(# Cos: 508 | $61.3M)
Investment Industry (OVEX)
(# Cos: 414 | $36.2M)
Online Trading Platforms (Prime XBT)
(# Cos: 83 | $11.1M)
Regular Trading (VALR)
(# Cos: 72 | $11.1M)
VALR
(2018, $5.0M)
Prime XBT AltCoinTrader
XMEX (2018)
$6.0M - Series A - Apr 2020
VALR (2018)
$3.5M - Series A - Jul 2020

Beauty Tech > Ecommerce > Multi Category > Full Range >
Retail > Rural > Women - Africa
17
25
Back to index
Taxonomy
Key Stats
Africa Tech
$8.3M ( -- )
4( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$8.5M
1
-
1
0
Beauty Tech (Glamera)
(# Cos: 114 | $9.0M)
Ecommerce (SKOON)
(# Cos: 83 | $8.8M)
Multi Category (BeautyClick)
(# Cos: 31 | $8.8M)
Full Range (Source Beauty)
(# Cos: 24 | $8.8M)
Retail (Podozi.com)
(# Cos: 20 | $8.8M)
Women (Kasha)
(# Cos: 1 | $8.5M)
Kasha
(2016, $8.5M)
Kasha (2016)
$5.3M - Series B - Oct 2020
Kasha (2016)
$1.0M - Series A - Sep 2020
Kasha (2016)
$1.0M - Series A - Apr 2020
Kasha (2016)
$1.0M - Series B - Feb 2021

K-12 EdTech > B2C Learning Solutions > School Curriculum > Multi Subject
> Online Courses > Subscription > Adaptive - Africa
18
26
Back to index
Taxonomy
Key Stats
Africa Tech
$7.5M (▲142%)
1(▼50%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$10.6M
1
-
1
1
K-12 EdTech (eLimu)
(# Cos: 453 | $12.5M)
B2C Learning Solutions (ShuleDirect)
(# Cos: 110 | $10.9M)
School Curriculum (Zeraki)
(# Cos: 86 | $10.8M)
Multi Subject (BeBlocky)
(# Cos: 78 | $10.8M)
Online Courses (Ubongo)
(# Cos: 47 | $10.7M)
Adaptive (uLesson)
(# Cos: 1 | $10.6M)
uLesson
(2019, $10.6M)
uLesson (2019)
$7.5M - Series A - Jan 2021

Industrial Process Analytics - Africa
19
27
Back to index
Taxonomy
Key Stats
Africa Tech
$6.0M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$6.0M
1
-
3
1
Manufacturing Tech (Garment IO)
(# Cos: 34 | $6.6M)
Process Control (StatSoft)
(# Cos: 6 | $6.0M)
Analytics (Safi Analytics)
(# Cos: 5 | $6.0M)
Production Analysis (DataProphet)
(# Cos: 3 | $6.0M)
DataProphet
(2014, $6.0M)
HaldanMES ART Engineering
DataProphet (2014)
$6.0M - Series A - Aug 2020

Healthcare Booking Platforms > Medical Transportation >
Ambulance > Booking Platforms - Africa
20
28
Back to index
Taxonomy
Key Stats
Africa Tech
$5.9M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$6.1M
2
-
6
0
Healthcare Booking Platforms (Vezeeta)
(# Cos: 461 | $85.9M)
Medical Transportation (Helivac)
(# Cos: 6 | $6.1M)
Ambulance (Respo)
(# Cos: 6 | $6.1M)
Booking Platforms (Capsule)
(# Cos: 6 | $6.1M)
Capsule
(2015, $6.0M)
Respo Helivac
Capsule (2015)
$5.9M - Series A - Dec 2020

RunwaySale (2012)
$5.7M - Series A - May 2020
Flash Sales > Retailer > Fashion - Africa
21
29
Back to index
Flash Sales (Mazone Group)
(# Cos: 3 | $5.7M)
Retailer (OneDayOnly)
(# Cos: 3 | $5.7M)
Fashion (RunwaySale)
(# Cos: 2 | $5.7M)
Taxonomy
Key Stats
Africa Tech
$5.7M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$5.7M
1
-
2
0
RunwaySale
(2012, $5.7M)
Mazone Group

Stitch (2019)
$4.0M - Seed - Feb 2021
Okra (2019)
$1.0M - Seed - Apr 2020
truID (2017)
Undisclosed - Seed - Jun 2020
Banking-as-a-platform via Open Banking
APIs - Africa
22
30
Back to index
Banking Tech (Kuda)
(# Cos: 252 | $503M)
Open Banking (Open Banking)
(# Cos: 9 | $5.0M)
Banking APIs (Okra)
(# Cos: 7 | $5.0M)
Taxonomy
Key Stats
Africa Tech
$5.0M ( -- )
3( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$5.0M
4
-
7
1
Okra
(2019, $1.0M)
Stitch
(2019, $4.0M)
truID

Diool (2015)
$3.5M - Series A - Feb 2021
Diool (2015)
$1.2M - Seed - Jun 2020
Agent Based Payments - Africa
23
31
Back to index
Payments (Paga)
(# Cos: 850 | $689M)
Business Payments (Interswitch)
(# Cos: 482 | $374M)
Agent Based Payments (Kudi)
(# Cos: 44 | $33.2M)
Taxonomy
Key Stats
Africa Tech
$4.7M ( -- )
2( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
2
$33.2M
10
-
44
3
Kudi
(2016, $7.6M)
Zoona
(2009, $20.0M)
Bee Smart Payment Solu..

Opal (2020)
$4.3M - Seed - Jan 2021
Productivity Software > Time Management >
Smartphone Usage Limitation - Africa
24
32
Back to index
Productivity Software (Sortd)
(# Cos: 25 | $4.3M)
Time Management (Focus Booster)
(# Cos: 2 | $4.3M)
Smartphone Usage Limitation (Opal)
(# Cos: 1 | $4.3M)
Taxonomy
Key Stats
Africa Tech
$4.3M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$4.3M
1
-
1
1
Opal
(2020, $4.3M)

Crowdfunding > Rewards > Community Projects
> Clean Energy - Africa
25
33
Back to index
Taxonomy
Key Stats
Africa Tech
$3.7M (▲257%)
1(▼50%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$6.9M
1
-
2
1
Crowdfunding (FarmCrowdy)
(# Cos: 186 | $9.4M)
Rewards (Yomken)
(# Cos: 12 | $6.9M)
Community Projects (Finche)
(# Cos: 2 | $6.9M)
Clean Energy (The Sun Exchange)
(# Cos: 2 | $6.9M)
The Sun Exchange
(2014, $6.9M)
Finche
The Sun Exchange (2014)
$3.7M - Series A - Jun 2020

Renewable Energy Tech > Solar Energy > Investment
Platform > Lease Rental Income - Africa
26
34
Back to index
Taxonomy
Key Stats
Africa Tech
$3.7M (▲257%)
1(▼50%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$6.9M
1
-
1
1
Renewable Energy Tech (Sistema)
(# Cos: 27 | $33.1M)
Solar Energy (SunCulture)
(# Cos: 16 | $21.1M)
Investment Platform (Solaset)
(# Cos: 2 | $6.9M)
Lease Rental Income (The Sun
Exchange)
(# Cos: 1 | $6.9M)
The Sun Exchange
(2014, $6.9M)

Alternative Lending > Online Lenders > Green Financing >
Commercial > Marketplace - Africa
27
35
Back to index
Taxonomy
Key Stats
Africa Tech
$3.7M (▲257%)
1(▼50%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$6.9M
2
-
4
1
Alternative Lending (OneFi)
(# Cos: 410 | $378M)
Online Lenders (Jumo)
(# Cos: 327 | $376M)
Green Financing (Solaset)
(# Cos: 4 | $6.9M)
Commercial (Africa50)
(# Cos: 4 | $6.9M)
Marketplace (The Sun Exchange)
(# Cos: 4 | $6.9M)
The Sun Exchange
(2014, $6.9M)
Africa50 Solaset

Social Commerce > Community Based Shopping
Platforms > Diversified - Africa
28
36
Back to index
Social Commerce (E Dey Shop)
(# Cos: 7 | $4.3M)
Diversified (Brimore)
(# Cos: 1 | $4.3M)
Taxonomy
Key Stats
Africa Tech
$3.5M (▲338%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$4.3M
1
-
1
0
Brimore
(2016, $4.3M)
Brimore (2016)
$3.5M - Seed - Apr 2020

MoneyFellows (2014)
CowryWise (2017)
$3.5M - Seed - Jan 2021
Crowdyvest (2019)
Undisclosed - Angel - Mar 2021
ElGameya (2017)
Undisclosed - Seed - Aug 2020
Investment Tech > Wealth Management
Platforms > Savings Platforms - Africa
29
37
Back to index
Investment Tech (MoneyFellows)
(# Cos: 463 | $80.1M)
Wealth Management Platforms (ARM Pensions)
(# Cos: 127 | $67.4M)
Savings Platforms (CowryWise)
(# Cos: 56 | $16.3M)
Taxonomy
Key Stats
Africa Tech
$3.5M ( -- )
4( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$16.3M
17
-
56
2
CowryWise
(2017, $3.7M)
MoneyFellows
(2014, $5.0M)
PiggyVest
(2016, $1.1M)

Second Hand Car Listings - Africa
30
38
Back to index
Taxonomy
Key Stats
Africa Tech
$3.4M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
2
$3.6M
4
-
80
1
Auto E-Commerce & Content (Naked)
(# Cos: 301 | $14.9M)
Second Hand Vehicles (Cars.co.za)
(# Cos: 162 | $10.0M)
Cars (We Buy Cars)
(# Cos: 112 | $10.0M)
Listings (AutoTrader)
(# Cos: 80 | $3.6M)
AutoTrader Cars.co.za Automarket
(2020, $3.4M)
Automarket (2020)
$3.4M - Seed - Nov 2020

Banking Tech > Correspondent Banking -
Africa
31
39
Back to index
Banking Tech (Kuda)
(# Cos: 252 | $503M)
Correspondent Banking (Nomanini)
(# Cos: 21 | $10.5M)
Taxonomy
Key Stats
Africa Tech
$3.0M ( -- )
2( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$10.5M
8
-
21
1
Nomanini
(2011, $7.5M)
Khazna CIT VERiCASH
Dayra (2020)
$3.0M - Seed - Mar 2021
Nomanini (2011)

Alternative Lending > Online Lenders > Consumer Loans >
Payday Loans > Through Employer > On Demand Pay - Africa
32
40
Back to index
Taxonomy
Key Stats
Africa Tech
$2.7M (▲346%)
4(▲300%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$3.3M
5
-
6
1
Alternative Lending (Kopo Kopo)
(# Cos: 410 | $378M)
(# Cos: 327 | $376M)
Consumer Loans (Apollo Agriculture)
(# Cos: 213 | $104M)
Payday Loans (OneFi)
(# Cos: 34 | $38.3M)
Through Employer (SmartWage)
(# Cos: 10 | $3.3M)
On Demand Pay (NowPay)
(# Cos: 6 | $3.3M)
NowPay
(2018, $2.7M)
SmartWage
(2020, $346K)
Floatpays
NowPay (2018)
$2.1M - Seed - Oct 2020
SmartWage (2020)
$346K - Angel - Jun 2020
Paymenow (2019)
$230K - Seed - Jun 2020
NowPay (2018)
Undisclosed - Seed - Mar 2021

HRTech > Benefits Administration > Financial
Benefits > On Demand Pay - Africa
33
41
Back to index
Taxonomy
Key Stats
Africa Tech
$2.3M (▲288%)
3(▲200%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$2.9M
3
-
5
1
HRTech (Gebeya)
(# Cos: 761 | $26.9M)
Benefits Administration (Floatpays)
(# Cos: 26 | $3.6M)
Financial Benefits (SmartWage)
(# Cos: 12 | $3.3M)
On Demand Pay (NowPay)
(# Cos: 5 | $2.9M)
NowPay
(2018, $2.7M)
Floatpays Paymenow
(2019, $230K)
NowPay (2018)
$2.1M - Seed - Oct 2020
Paymenow (2019)
$230K - Seed - Jun 2020
NowPay (2018)

HRMS for SMBs - Africa
34
42
Back to index
Taxonomy
Key Stats
Africa Tech
$2.1M (▲2000%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$2.3M
4
-
47
0
HRTech (Gebeya)
(# Cos: 761 | $26.9M)
HRMS (CRS Technologies)
(# Cos: 102 | $2.5M)
Suite (SeamlessHR)
(# Cos: 88 | $2.5M)
SMB (WorkPay)
(# Cos: 47 | $2.3M)
WorkPay
(2017, $2.3M)
CRS Technologies TalentBase
WorkPay (2017)
$2.1M - Seed - Aug 2020

Umba (2011)
$2.0M - Seed - Dec 2020
Sarwa Capital (2009)
Undisclosed - Series D - Feb 2021
Consumer and SME Loans > Consumer Loans >
Diversified - Africa
35
43
Back to index
Consumer and SME Loans (The Bank of Industry)
(# Cos: 181 | $80.3M)
Consumer Loans (Sarwa Capital)
(# Cos: 54 | $60.4M)
Diversified (Umba)
(# Cos: 20 | $58.3M)
Taxonomy
Key Stats
Africa Tech
$2.0M ( -- )
2( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$58.3M
4
-
20
0
Umba
(2011, $2.3M)
Sarwa Capital
(2009, $56.0M)
ASO Savings & Loans

Internet First Retail Bank with Partner Bank's
License - Africa
36
44
Back to index
Taxonomy
Key Stats
Africa Tech
$2.0M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$2.7M
3
-
14
0
Banking Tech (Jumo)
(# Cos: 252 | $503M)
Internet First Banks (Kuda)
(# Cos: 51 | $163M)
Through Bank Partnerships (Wala)
(# Cos: 33 | $2.8M)
Retail Banking (Umba)
(# Cos: 14 | $2.7M)
Umba
(2011, $2.3M)
Wala
(2015, $380K)
The Kueq un
Umba (2011)
$2.0M - Seed - Dec 2020

Logistics Tech > Parcel > Technology Enablers >
Address Standardization - Africa
37
45
Back to index
Taxonomy
Key Stats
Africa Tech
$1.8M (▼10.6%)
1(▼66.7%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$4.9M
2
-
2
0
Logistics Tech (Kobo360)
(# Cos: 545 | $158M)
Parcel (elmenus)
(# Cos: 226 | $74.7M)
Technology Enablers (OkHi)
(# Cos: 22 | $4.9M)
Address Standardization (MPOST)
(# Cos: 2 | $4.9M)
MPOST
(2016, $2.0M)
OkHi
(2014, $2.9M)
OkHi (2014)
$1.8M - Seed - Sep 2020

Online Grocery Delivery Marketplace -
Africa
38
46
Back to index
Taxonomy
Key Stats
Africa Tech
$1.6M ( -- )
2( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$11.9M
12
-
50
0
Online Grocery (Twiga)
(# Cos: 255 | $61.3M)
B2C Ecommerce (Bottles)
(# Cos: 220 | $13.3M)
Multi Category (Pricepally)
(# Cos: 144 | $12.3M)
Marketplace (Weelo)
(# Cos: 58 | $11.9M)
Own Delivery Fleet (Zulzi)
(# Cos: 50 | $11.9M)
Zulzi
(2013, $1.6M)
Weelo
(2017, $28.0K)
Good Smart
(2014, $750K)
Zulzi (2013)
$1.6M - Seed - May 2020
Quench (2016)

Conversational Banking - Africa
39
47
Back to index
Taxonomy
Key Stats
Africa Tech
$1.6M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$2.3M
1
-
4
1
Customer Service Software (1Stream)
(# Cos: 64 | $3.0M)
Help Desk (NandiMobile)
(# Cos: 42 | $3.0M)
Live Chat (3Line)
(# Cos: 28 | $2.3M)
Virtual Agents (Botme)
(# Cos: 24 | $2.3M)
Banking (FinChatBot)
(# Cos: 4 | $2.3M)
FinChatBot
(2016, $2.3M)
3Line mTransfers
FinChatBot (2016)
$1.6M - Seed - Nov 2020

FinChatBot (2016)
$1.6M - Seed - Nov 2020
Conversational Banking - Africa
40
48
Back to index
Banking Tech (Kuda)
(# Cos: 252 | $503M)
Banking Channels (Jumo)
(# Cos: 33 | $202M)
Conversational (FinChatBot)
(# Cos: 5 | $2.3M)
Taxonomy
Key Stats
Africa Tech
$1.6M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$2.3M
2
-
5
1
FinChatBot
(2016, $2.3M)
3Line mTransfers

Photonics > Quantum Optics > Applications > Scanning and
Surveying > LiDAR - Africa
41
49
Back to index
Photonics (Fiber Optic Manufacturer)
(# Cos: 3 | $1.5M)
LiDAR (LightWare)
(# Cos: 1 | $1.5M)
Taxonomy
Key Stats
Africa Tech
$1.5M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$1.5M
1
-
1
0
LightWare
(2011, $1.5M)
LightWare (2011)
$1.5M - Seed - Aug 2020

Alternative Lending > Online Lenders > Consumer Loans >
Point of Sale Financing > Direct Lender > Credit Card - Africa
42
50
Back to index
Taxonomy
Key Stats
Africa Tech
$1.5M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$1.5M
1
-
1
0
Alternative Lending (Apollo Agriculture)
(# Cos: 410 | $378M)
(# Cos: 327 | $376M)
Consumer Loans (OneFi)
(# Cos: 213 | $104M)
Point of Sale Financing (Mobicred)
(# Cos: 15 | $2.3M)
Direct Lender (Aspira)
(# Cos: 8 | $2.3M)
Credit Card (Credpal)
(# Cos: 1 | $1.5M)
Credpal
(2017, $1.5M)
Credpal (2017)
$1.5M - Seed - Dec 2020

Plaqad (2017)
$1.5M - Seed - Dec 2020
MarketingTech > Influencer Marketing >
Influencer Marketplace - Africa
43
51
Back to index
MarketingTech (Crowd Analyzer)
(# Cos: 512 | $22.5M)
Influencer Marketing (Hashtag Viral)
(# Cos: 24 | $1.5M)
Influencer Marketplace (Trendster)
(# Cos: 16 | $1.5M)
Taxonomy
Key Stats
Africa Tech
$1.5M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$1.5M
5
-
16
0
Trendster Plaqad
(2017, $1.5M)
Webfluential

Nomanini (2011)
Banking Tech > Correspondent Banking >
Enablers - Africa
44
52
Back to index
Banking Tech (Kuda)
(# Cos: 252 | $503M)
Correspondent Banking (Khazna)
(# Cos: 21 | $10.5M)
Enablers (Nomanini)
(# Cos: 5 | $7.5M)
Taxonomy
Key Stats
Africa Tech
$1.5M (▼62.5%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$7.5M
2
-
5
1
Nomanini
(2011, $7.5M)
EazyBiz Belcash

SwiftVee (2017)
$1.5M - Series A - Nov 2020
Livestock Tech > ECommerce > Livestock
Trading - Africa
45
53
Back to index
Livestock Tech (Livestock Wealth)
(# Cos: 58 | $1.9M)
ECommerce (Mifugotrade)
(# Cos: 15 | $1.6M)
Livestock Trading (SwiftVee)
(# Cos: 6 | $1.6M)
Taxonomy
Key Stats
Africa Tech
$1.5M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$1.6M
2
-
6
0
SwiftVee
(2017, $1.5M)
Mifugotrade
(2014, $50.0K)
AgroDomain

Residential Real Estate Listings - Africa
46
54
Back to index
Residential Real Estate Tech (MPOST)
(# Cos: 125 | $11.3M)
Listings (Aqarmap)
(# Cos: 80 | $4.2M)
Taxonomy
Key Stats
Africa Tech
$1.3M ( -- )
4( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
6
$4.2M
15
-
80
0
Aqarmap Private Property meQasa
(2013, $500K)
Sakneen (2019)
$1.1M - Seed - Feb 2021
Sakneen (2019)
$150K - Seed - Jun 2020
Isqan (2020)
Undisclosed - Angel - Jan 2021
Isqan (2020)
Undisclosed - Seed - Sep 2020

OnePipe (2018)
$950K - Seed - Dec 2020
OnePipe (2018)
$120K - Seed - Jul 2020
Peach Payments (2013)
Undisclosed - Seed - May 2020
Online Business Payments - Africa
47
55
Back to index
Payments (Paga)
(# Cos: 850 | $689M)
Business Payments (Interswitch)
(# Cos: 482 | $374M)
Online Payments (Cellulant)
(# Cos: 184 | $64.6M)
Taxonomy
Key Stats
Africa Tech
$1.1M ( -- )
3( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
8
$64.6M
24
-
184
2
Cellulant
(2004, $47.5M)
Kopo Kopo
(2011, $5.6M)
Peach Payments
(2013, $1.0M)

IntiGo (2019)
$1.0M - Seed - Jul 2020
Bike Taxi - Africa
48
56
Back to index
Road Transport Tech (Swvl)
(# Cos: 575 | $190M)
Ride Hailing (Halan)
(# Cos: 274 | $64.2M)
Motorized Two-Wheelers (SafeBoda)
(# Cos: 17 | $8.8M)
Taxonomy
Key Stats
Africa Tech
$1.0M (▼86.4%)
1(▼75%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$8.8M
7
-
17
1
SafeBoda
(2014, $227K)
Gokada
(2018, $6.9M)
SafeMotos
(2014, $131K)

P2P Bank Remittance - Africa
49
57
Back to index
Taxonomy
Key Stats
Africa Tech
$1.0M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$1.0M
3
-
21
0
Remittance (Paystack)
(# Cos: 112 | $52.8M)
Internet First Platforms (BitPesa)
(# Cos: 93 | $25.9M)
P2P Remittance (Bit Sika)
(# Cos: 73 | $1.3M)
Banking Channels (Mukuru)
(# Cos: 21 | $1.0M)
Mukuru Kola Softeller
Flick (2020)
$1.0M - Angel - Oct 2020

SMS marketing - Africa
50
58
Back to index
Taxonomy
Key Stats
Africa Tech
$1.0M ( -- )
2( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$1.0M
3
-
232
0
MarketingTech (Crowd Analyzer)
(# Cos: 512 | $22.5M)
Mobile Marketing (SMS Misr)
(# Cos: 252 | $2.6M)
Messaging Marketing (Termii)
(# Cos: 245 | $2.5M)
SMS (Mobiz)
(# Cos: 232 | $1.0M)
Mobiz
(2014, $1.0M)
SMS Misr KudiSMS
Mobiz (2014)
$1.0M - Seed - Mar 2020
Mobiz (2014)
Undisclosed - Seed - Jun 2020

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60

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Tracxn - Africa Tech - Top Business Models - Mar 2021

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