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1. TRACXN TOP BUSINESS MODELS REPORT
February 21, 2022
AFRICA TECH

2. Africa Tech - Top Business Models Report Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Contents
AfricaAfrica Tech Funding - Overview 3
Top Funded Business Models 4
One pagers 9
Appendix 59
2

3. Africa Tech - Top Business Models Report Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Funding in last 1 year
3
Payments $849M
Sports Tech $295M
Internet First Insurance Platforms $102M
Y-o-Y Funding
Top Investors by Funding Rounds
Seed
Stage
Y Combinator
Launch Africa
Future Africa
25
20
14
Early
Stage
Endeavor
Algebra Ventures
Flourish
8
6
5
Late
Stage
Endeavor
Google
Fidelity Investments
2
1
1
Funding by Geography
Top Feeds by $ Funding
Top Funding Rounds
$ Funding # Rounds
OPay
(2018, )
$400M - Series C
BetKing
(2018, )
$293M - Series C
Jumo
(2015, )
$120M - Series D
MNT Halan
(2017, )
$120M - Series A
TymeBank
(2012, )
$110M - Series B
TradeDepot
(2015, )
$110M - Series B
TYME
(2012, )
$110M - Series B
MFS Africa
(2009, )
$100M - Series C
PalmPay
(2019, )
$100M - Series A
Yoco
(2015, )
$83.0M - Series C
TymeBank
(2012, )
$70.0M - Series B
TYME
(2012, )
$70.0M - Series B
Lagos (33%)
Johannesburg (15%)
Ikeja (12%)
Cairo (10%)
Cape Town (7%)
Others (24%)

4. Copyright © 2022, Tracxn Technologies 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▲6 Business Payments Solutions $547M 7 OPay | $400M | Series C Link
2<> 0 Sports Betting Platforms $293M 1 BetKing | $293M | Series C Link
3<> 0 Sports Betting Platforms $293M 1 BetKing | $293M | Series C Link
4▲13 Retail Banking $260M 4 TymeBank | $110M | Series B Link
5▲48 Digital Wallets $240M 13 MNT Halan | $120M | Series A Link
6-- Banking Software Suite $190M 3 TYME | $110M | Series B Link
7-- KYC for Financial Institutions $180M 2 TYME | $110M | Series B Link
8▲1 Retail Stores Informal Distribution $124M 3 TradeDepot | $110M | Series B Link
9-- Internet First Lenders $120M 1 MNT Halan | $120M | Series A Link
10▼9 Internet First Loan Marketplace $120M 1 Jumo | $120M | Series D Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

5. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Africa Tech - Top Funded Business Models - last 1 year (2/5)
5
Rank Business Model $ Funding # Rounds Top Funding Round Details
11▲4 B2B E-Commerce Software Suite $110M 1 TradeDepot | $110M | Series B Link
12-- Internet First Personal Loans $84.0M 2 FairMoney | $42.0M | Series B Link
13-- Internet First Health Insurers $80.0M 2 Reliance Hea.. | $40.0M | Series B Link
14▲73 B2B Grocery Marketplace $58.1M 5 Twiga Foods | $50.0M | Series C Link
15▲87 Online B2B Grocery Distributor $56.1M 4 Maxab | $40.0M | Series A Link
16▲72 B2B Farm Produce Marketplaces $53.2M 4 Twiga Foods | $50.0M | Series C Link
17▲45 Truck Booking Marketplaces $36.9M 5 Trella | $30.0M | Series A Link
18▲20 Open Banking API Providers $36.9M 6 Stitch | $22.6M | Series A Link
19-- Hyperlocal Delivery $32.7M 8 MAX | $31.0M | Series B Link
20-- Internet First Consumer Loans $30.0M 2 Asaak | $30.0M | Seed Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

6. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Africa Tech - Top Funded Business Models - last 1 year (3/5)
6
Rank Business Model $ Funding # Rounds Top Funding Round Details
21▼11 Genomic Data Analysis Platforms $28.5M 3 54gene | $25.0M | Series B Link
22▲5 Community Based Shopping Platforms $26.1M 3 Brimore | $25.0M | Series A Link
23▼12 Genomics Sequencing Analysis Software $25.0M 1 54gene | $25.0M | Series B Link
24▼12 Life Sciences Research Services $25.0M 1 54gene | $25.0M | Series B Link
25-- Datacenter Colocation $20.0M 1 PAIX | $20.0M | Series B Link
26-- B2B Remittance $20.0M 1 AZA | $20.0M | Series B Link
27▼23 Farming as a Service $19.1M 2 Agricorp | $17.5M | Series A Link
28▲31 Internet First Point of Sale Financing $18.0M 2 Lipa Later | $12.0M | Seed Link
29-- Waste To Fuel $15.6M 1 Sistema | $15.6M | Series B Link
30-- Syngas From Waste $15.6M 1 Sistema | $15.6M | Series B Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

7. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Africa Tech - Top Funded Business Models - last 1 year (4/5)
7
Rank Business Model $ Funding # Rounds Top Funding Round Details
31-- Home Furnishing Products Marketplaces $15.0M 1 Homzmart | $15.0M | Series A Link
32▼13 GIS in Transportation $14.5M 1 WhereIsMyTra.. | $14.5M | Series A Link
33▼13 Traffic Data $14.5M 1 WhereIsMyTra.. | $14.5M | Series A Link
34▼13 Public Transport Data Collection Solutions $14.5M 1 WhereIsMyTra.. | $14.5M | Series A Link
35--
Off Grid Distributed Solar Energy Resource
Management Systems
$14.1M 2 Baobab + | $11.7M | Series A Link
36-- B2B Hyperlocal Delivery $13.7M 2 Yalla Fel Sekka | $7.0M | Series A Link
37-- White Label Prepaid Cards Solutions $13.1M 3 AppZone Group | $10.0M | Series A Link
38▼10 B2C Used Cars Marketplaces $13.1M 1 Automarket | $13.1M | Seed Link
39-- Internet First Pay Per Mile Insurers $11.1M 2 Naked | $11.1M | Series A Link
40-- Internet First Usage Based Auto Insurers $11.1M 1 Naked | $11.1M | Series A Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

8. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Africa Tech - Top Funded Business Models - last 1 year (5/5)
8
Rank Business Model $ Funding # Rounds Top Funding Round Details
41-- Farmer to Farmer Content Platforms $11.0M 1 Wefarm | $11.0M | Series A Link
42▲38 B2B Horizontal Marketplaces $10.4M 5 PBP | $5.0M | Series A Link
43▲49 Food Ordering Platforms $10.1M 2 elmenus | $10.0M | Series B Link
44-- HRMS for Enterprises $10.0M 1 SeamlessHR | $10.0M | Series A Link
45-- Retail POS Solutions $8.1M 3 POSRocket | $5.0M | Series A Link
46-- B2B Processed Food Products Marketplace $7.7M 2 Cartona | $4.5M | Seed Link
47-- Online Marketplace for Drugs $7.5M 2 Yodawy | $7.5M | Series B Link
48-- Telepharmacy For Drugs $7.5M 1 Yodawy | $7.5M | Series B Link
49-- Internet First Working Capital Loans Marketplaces $6.3M 4 PayHippo | $3.0M | Seed Link
50▼32 Cryptocurrency Trading Platforms $6.2M 2 Busha | $4.2M | Seed Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

9. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
OPay (2018)
$400M - Series C - Aug 2021
Yoco (2015)
$83.0M - Series C - Jul 2021
Ozow (2005)
$48.0M - Series B - Nov 2021
Paymob (2015)
$15.0M - Series A - Apr 2021
appsNmobile (2015)
$1.0M - Seed - Jun 2021
TeamApt (2015)
Undisclosed - Series B - Jul 2021
Klickit (2017)
Undisclosed - Seed - Dec 2021
Business Payments Solutions - Africa
01
9
Back to index
Payments (Paga)
(# Cos: 977 | $1.7B)
Business Payments (Yoco)
(# Cos: 540 | $1.1B)
Diversified (Interswitch)
(# Cos: 84 | $966M)
Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$547M (▲2857%)
7(▲75%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
7
$966M
21
2
84
6
Interswitch
(2002, $200M)
Yoco
(2015, $107M)
OPay
(2018, $570M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

10. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
Sports Betting Platforms - Africa
02
10
Back to index
Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$293M (▲253%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$377M
7
-
33
1
Gambling Tech (TheB2BLotto)
(# Cos: 235 | $377M)
Online Gambling Platforms (Betika)
(# Cos: 101 | $377M)
Betting (SportPesa)
(# Cos: 41 | $377M)
Sports (Bet.co.za)
(# Cos: 38 | $377M)
Multi Sports (BetKing)
(# Cos: 33 | $377M)
BetKing
(2018, $377M)
Bet.co.za SportPesa
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
BetKing (2018)
$293M - Series C - Jun 2021

11. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
Sports Betting Platforms - Africa
03
11
Back to index
Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$293M (▲253%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$377M
7
-
37
1
Sports Tech (SuperSport)
(# Cos: 269 | $381M)
Sports Betting (BetTech Gaming)
(# Cos: 127 | $377M)
Betting Platforms (Bet.co.za)
(# Cos: 40 | $377M)
Multi Sports (BetKing)
(# Cos: 37 | $377M)
BetKing
(2018, $377M)
Bet.co.za SportPesa
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
BetKing (2018)
$293M - Series C - Jun 2021

12. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
Retail Banking - Africa
04
12
Back to index
Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$260M (▲2500%)
4(▲300%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$285M
2
-
2
1
Banking Tech (Jumo)
(# Cos: 352 | $891M)
Internet First Banks (Umba)
(# Cos: 72 | $307M)
Digital Native Banks (Kuda)
(# Cos: 13 | $298M)
Retail Banking (TymeBank)
(# Cos: 2 | $285M)
TymeBank
(2012, $193M)
Kuda
(2017, $91.6M)
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
TymeBank (2012)
$70.0M - Series B - Dec 2021
Kuda (2017)
$55.0M - Series B - Aug 2021
Kuda (2017)
$25.0M - Series A - Mar 2021

13. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
MNT Halan (2017)
$120M - Series A - Aug 2021
PalmPay (2019)
$100M - Series A - Aug 2021
ZeePay (2014)
$7.9M - Series A - Jun 2021
Thank U Cash (2018)
$5.3M - Seed - Jan 2022
telda (2019)
$5.0M - Seed - May 2021
Asilimia (2017)
$1.0M - Seed - Nov 2021
SikaPay (2018)
$348K - Seed - Oct 2021
View all 13 Funding Rounds on Tracxn Platform
Digital Wallets - Africa
05
13
Back to index
Payments (Interswitch)
(# Cos: 977 | $1.7B)
Consumer Payments (OPay)
(# Cos: 372 | $545M)
Wallets (Paga)
(# Cos: 198 | $488M)
Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$240M (▲ >10K%)
13(▲550%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
4
$488M
42
-
198
6
Paga
(2009, $35.0M)
OPay
(2018, $170M)
telda
(2019, $5.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

14. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
Banking Software Suite - Africa
06
14
Back to index
Banking Tech (TymeBank)
(# Cos: 352 | $891M)
Banking Software Suite (AppZone Group)
(# Cos: 44 | $195M)
Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$190M ( -- )
3( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
2
$195M
4
-
44
1
AppZone Group
(2008, $15.0M)
TYME
(2012, $180M)
Fintech Group
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
TYME (2012)
$110M - Series B - Feb 2021
TYME (2012)
$70.0M - Series B - Dec 2021
AppZone Group (2008)
$10.0M - Series A - Apr 2021

15. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
KYC for Financial Institutions - Africa
07
15
Back to index
RegTech (Entersekt)
(# Cos: 47 | $197M)
KYC (TYME)
(# Cos: 21 | $183M)
Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$180M ( -- )
2( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$183M
7
-
21
0
TYME
(2012, $180M)
Inclusive Financial Te..
(2016, $17.5K)
BACE Group
(2018, $100K)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
TYME (2012)
$110M - Series B - Feb 2021
TYME (2012)
$70.0M - Series B - Dec 2021

16. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
Retail Stores Informal Distribution -
Africa
08
16
Back to index
In Store Retail Tech (Yoco)
(# Cos: 189 | $221M)
Informal Distribution (TradeDepot)
(# Cos: 4 | $174M)
Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$124M (▲697%)
3(▲50%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$174M
4
-
4
3
TradeDepot
(2015, $123M)
Sokowatch
(2013, $26.9M)
Alerzo
(2018, $20.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
TradeDepot (2015)
$110M - Series B - Nov 2021
Alerzo (2018)
$10.5M - Series A - Aug 2021
Omnibiz (2010)
$3.0M - Seed - Aug 2021

17. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
Internet First Lenders - Africa
09
17
Back to index
Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$120M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$120M
3
-
30
1
Alternative Lending (Kopo Kopo)
(# Cos: 517 | $750M)
Online Lenders (OneFi)
(# Cos: 424 | $748M)
Diversified (Jumo)
(# Cos: 69 | $426M)
Direct Lender (MNT Halan)
(# Cos: 30 | $120M)
MNT Halan
(2017, $120M)
Shika Kava
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
MNT Halan (2017)
$120M - Series A - Aug 2021

18. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
Internet First Loan Marketplace - Africa
10
18
Back to index
Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$120M (▲11.1%)
1(▼66.7%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$306M
6
-
39
1
Alternative Lending (Kopo Kopo)
(# Cos: 517 | $750M)
Online Lenders (OneFi)
(# Cos: 424 | $748M)
Diversified (MNT Halan)
(# Cos: 69 | $426M)
Marketplace (Jumo)
(# Cos: 39 | $306M)
Jumo
(2015, $305M)
Lupiya
(2016, $1.0M)
Afri Kash
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Jumo (2015)
$120M - Series D - Nov 2021

19. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
TradeDepot (2015)
$110M - Series B - Nov 2021
B2B E-Commerce Software Suite - Africa
11
19
Back to index
B2B E-Commerce (Twiga Foods)
(# Cos: 197 | $435M)
Technology Enablers (Sokowatch)
(# Cos: 20 | $171M)
E Commerce Software Suite
(TradeDepot)
(# Cos: 7 | $124M)
Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$110M (▲953%)
1(▼50%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$124M
4
-
7
1
TradeDepot
(2015, $123M)
Garment IO
(2017, $450K)
Morpheus Commerce
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

20. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
Internet First Personal Loans - Africa
12
20
Back to index
Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$84.0M ( -- )
2( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$110M
5
-
37
2
Alternative Lending (Jumo)
(# Cos: 517 | $750M)
Online Lenders (Kopo Kopo)
(# Cos: 424 | $748M)
Consumer Loans (OneFi)
(# Cos: 270 | $260M)
Personal Loans (INuka Pap)
(# Cos: 81 | $111M)
Direct Lender (FairMoney)
(# Cos: 37 | $110M)
FairMoney
(2018, $54.5M)
FairMoney
(2017, $54.5M)
INuka Pap
(2015, $1.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
FairMoney (2017)
$42.0M - Series B - Jul 2021
FairMoney (2018)
$42.0M - Series B - Jul 2021

21. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
Reliance Health (2020)
$40.0M - Series B - Feb 2022
RelianceHMO (2017)
$40.0M - Series B - Feb 2022
Internet First Health Insurers - Africa
13
21
Back to index
Internet First Insurance Platforms (Jamii)
(# Cos: 142 | $799M)
Internet First Insurers (FarmCrowdy)
(# Cos: 55 | $119M)
Health (RelianceHMO)
(# Cos: 10 | $97.9M)
Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$80.0M ( -- )
2( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$97.9M
6
-
10
4
RelianceHMO
(2017, $48.0M)
Jamii
(2016, $2.1M)
Turaco
(2019, $6.6M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

22. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
B2B Grocery Marketplace - Africa
14
22
Back to index
Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$58.1M (▲ >10K%)
5(▲400%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$119M
8
-
9
1
Online Grocery (Breadfast)
(# Cos: 351 | $280M)
B2B Ecommerce (JABU)
(# Cos: 63 | $213M)
Multi-Category (Sokowatch)
(# Cos: 15 | $208M)
Marketplace (Twiga Foods)
(# Cos: 9 | $119M)
Twiga Foods
(2014, $110M)
Vendease
(2017, $3.3M)
Food Supply
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Twiga Foods (2014)
$50.0M - Series C - Nov 2021
Cartona (2019)
$4.5M - Seed - Sep 2021
Vendease (2017)
$3.2M - Seed - Oct 2021
Kamioun (2020)
$400K - Seed - Dec 2021
Vendease (2017)
$125K - Seed - Jan 2021

23. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
Online B2B Grocery Distributor - Africa
15
23
Back to index
Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$56.1M (▲ >10K%)
4(▲100%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$89.3M
5
-
6
2
Online Grocery (Breadfast)
(# Cos: 351 | $280M)
B2B Ecommerce (JABU)
(# Cos: 63 | $213M)
Multi-Category (Twiga Foods)
(# Cos: 15 | $208M)
E-Distributor (Sokowatch)
(# Cos: 6 | $89.3M)
Sokowatch
(2013, $26.9M)
Maxab
(2018, $61.2M)
Suplias
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Maxab (2018)
$40.0M - Series A - Jul 2021
Maxab (2018)
$15.0M - Series A - Aug 2021
Talabeyah (2020)
$1.1M - Seed - Oct 2021
Suplias (2019)
Undisclosed - Seed - Jul 2021

24. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
B2B Farm Produce Marketplaces - Africa
16
24
Back to index
Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$53.2M (▲ >10K%)
4(▲ >10K%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$114M
12
-
27
1
B2B E-Commerce (WaystoCap)
(# Cos: 197 | $435M)
Food & Beverages (Maxab)
(# Cos: 50 | $185M)
Groceries (JABU)
(# Cos: 49 | $185M)
Farm Products (AgroCenta)
(# Cos: 38 | $115M)
Marketplace (Twiga Foods)
(# Cos: 27 | $114M)
Twiga Foods
(2014, $110M)
Vendease
(2017, $3.3M)
Selpal
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Twiga Foods (2014)
$50.0M - Series C - Nov 2021
Vendease (2017)
$3.2M - Seed - Oct 2021
Vendease (2017)
$125K - Seed - Jan 2021
HelloChoice (2005)
Undisclosed - Seed - Sep 2021

25. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
Truck Booking Marketplaces - Africa
17
25
Back to index
Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$36.9M (▲7288%)
5(▼16.7%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$114M
12
-
55
3
Logistics Tech (Sendy)
(# Cos: 875 | $249M)
Freight (AmiTruck)
(# Cos: 439 | $119M)
Trucking (Lori)
(# Cos: 371 | $119M)
Heavy Cargo (Trella)
(# Cos: 81 | $114M)
Marketplace (Kobo360)
(# Cos: 55 | $114M)
Kobo360
(2016, $30.6M)
Trella
(2018, $30.8M)
Lori
(2016, $44.9M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Trella (2018)
$30.0M - Series A - Jun 2021
AmiTruck (2018)
$4.8M - Seed - Jan 2022
ILLA (2017)
$2.0M - Seed - Oct 2021
Ridelink (2016)
$150K - Seed - Aug 2021
Kamtar (2018)
Undisclosed - Seed - Oct 2021

26. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
Stitch (2019)
$22.6M - Series A - Jan 2022
Stitch (2019)
$4.0M - Seed - Feb 2021
Okra (2019)
$3.5M - Seed - Apr 2021
OnePipe (2018)
$3.5M - Seed - Nov 2021
Stitch (2019)
$2.0M - Seed - Oct 2021
Duplo (2021)
$1.3M - Seed - Feb 2022
Open Banking API Providers - Africa
18
26
Back to index
Banking Tech (TymeBank)
(# Cos: 352 | $891M)
Open Banking (OnePipe)
(# Cos: 22 | $39.8M)
Banking APIs (Okra)
(# Cos: 14 | $39.8M)
Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$36.9M (▲1792%)
6(▲100%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$39.8M
9
-
14
2
Okra
(2019, $4.5M)
OnePipe
(2018, $4.5M)
Duplo
(2021, $1.3M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

27. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
MAX (2015)
$31.0M - Series B - Dec 2021
Yalla Fel Sekka (2019)
$7.0M - Series A - Feb 2022
Bosta (2016)
$6.7M - Series A - May 2021
Paps (2016)
$4.5M - Seed - Jan 2022
Kwik (2018)
$1.7M - Seed - Mar 2021
Lamma City (2019)
Undisclosed - Seed - Oct 2021
Lamma City (2019)
Undisclosed - Seed - Oct 2021
View all 8 Funding Rounds on Tracxn Platform
Hyperlocal Delivery - Africa
19
27
Back to index
Logistics Tech (Kobo360)
(# Cos: 875 | $249M)
Parcel (Kwik)
(# Cos: 322 | $92.2M)
Hyperlocal Delivery (MAX)
(# Cos: 211 | $90.6M)
Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$32.7M ( -- )
8( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
2
$90.6M
20
-
211
3
MAX
(2015, $39.6M)
Kwik
(2018, $2.0M)
Bosta
(2016, $8.1M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

28. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
Internet First Consumer Loans - Africa
20
28
Back to index
Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$30.0M ( -- )
2( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$58.0M
3
-
13
1
Alternative Lending (Jumo)
(# Cos: 517 | $750M)
Online Lenders (Kopo Kopo)
(# Cos: 424 | $748M)
Consumer Loans (OneFi)
(# Cos: 270 | $260M)
Diversified (Aella Credit)
(# Cos: 38 | $58.0M)
Direct Lender (Asaak)
(# Cos: 13 | $58.0M)
Asaak
(2016, $30.0M)
Aella Credit
(2015, $3.0M)
afb Ghana
(2010, $25.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Asaak (2016)
$30.0M - Seed - Jan 2022
Asaak (2016)
Undisclosed - Seed - Jul 2021

29. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
54gene (2019)
$25.0M - Series B - Sep 2021
IndyGeneUS (2020)
$2.0M - Seed - Dec 2021
IndyGeneUS (2020)
$1.5M - Seed - Nov 2021
Genomic Data Analysis Platforms -
Africa
21
29
Back to index
Genomics (3X4 Genetics)
(# Cos: 58 | $51.5M)
Genome Informatics (IndyGeneUS)
(# Cos: 4 | $48.5M)
Integrative Bioinformatics Platforms
(54gene)
(# Cos: 3 | $48.5M)
Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$28.5M (▲90%)
3(▲200%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$48.5M
2
-
3
1
54gene
(2019, $45.0M)
IndyGeneUS
(2020, $3.5M)
CoCoNUT
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

30. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
Brimore (2016)
$25.0M - Series A - Jan 2022
Brimore (2016)
$999K - Seed - Sep 2021
BeU (2019)
$125K - Seed - Jan 2022
Community Based Shopping Platforms -
Africa
22
30
Back to index
Social Commerce (Rabawa)
(# Cos: 12 | $30.6M)
Community Based Shopping Platforms
(Weqasa)
(# Cos: 5 | $30.4M)
Diversified (Brimore)
(# Cos: 3 | $30.4M)
Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$26.1M (▲646%)
3(▲200%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$30.4M
2
-
3
0
Brimore
(2016, $30.3M)
Weqasa BeU
(2019, $125K)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

31. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
Genomics Sequencing Analysis Software
- Africa
23
31
Back to index
Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$25.0M (▲66.7%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$45.0M
2
-
3
1
Life Sciences Tech (GoldKeys)
(# Cos: 36 | $48.5M)
Research & Development (IndyGeneUS)
(# Cos: 30 | $48.5M)
Drug Discovery (Mara Scientific)
(# Cos: 4 | $45.0M)
Genomics (Hyrax Biosciences)
(# Cos: 3 | $45.0M)
Sequencing Analysis (54gene)
(# Cos: 3 | $45.0M)
54gene
(2019, $45.0M)
Hyrax Biosciences CoCoNUT
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
54gene (2019)
$25.0M - Series B - Sep 2021

32. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
54gene (2019)
$25.0M - Series B - Sep 2021
Life Sciences Research Services - Africa
24
32
Back to index
Life Sciences Platforms and Tools (Quorus Biotech)
(# Cos: 40 | $45.0M)
Research Services (Synexa Life Sciences)
(# Cos: 23 | $45.0M)
Diversified (54gene)
(# Cos: 12 | $45.0M)
Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$25.0M (▲66.7%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$45.0M
3
-
12
1
54gene
(2019, $45.0M)
SNC Fibers RIM Pharma
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

33. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
PAIX (2016)
$20.0M - Series B - Feb 2022
Datacenter Colocation - Africa
25
33
Back to index
Data Center Infrastructure (Neotel)
(# Cos: 20 | $48.0M)
Data Center Providers (PAIX)
(# Cos: 12 | $48.0M)
Colocation (Teraco)
(# Cos: 10 | $48.0M)
Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$20.0M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
3
$48.0M
6
-
10
1
Teraco
(2007, $28.0M)
PAIX
(2016, $20.0M)
Rack Centre
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

34. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
AZA (2015)
$20.0M - Series B - May 2021
B2B Remittance - Africa
26
34
Back to index
Remittance (MFS Africa)
(# Cos: 134 | $167M)
Internet First Platforms (Wapi Pay)
(# Cos: 112 | $48.1M)
B2B Remittance (BitPesa)
(# Cos: 8 | $44.6M)
Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$20.0M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$44.6M
2
-
8
2
BitPesa
(2013, $24.6M)
AZA
(2015, $20.0M)
Innovate 1 Pay
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

35. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
Agricorp (2018)
$17.5M - Series A - Sep 2021
Green Gold Farms (2017)
$1.6M - Seed - Jul 2021
Farming as a Service - Africa
27
35
Back to index
Crop Tech (Aerobotics)
(# Cos: 553 | $309M)
Farming as a Service (Apollo Agriculture)
(# Cos: 60 | $97.5M)
Tech Enabled Services (Komaza)
(# Cos: 49 | $96.4M)
Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$19.1M (▼49.2%)
2(▼33.3%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$96.4M
10
-
49
3
Komaza
(2006, $37.9M)
Apollo Agriculture
(2016, $17.8M)
Babban Gona
(2012, $20.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

36. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
Internet First Point of Sale Financing -
Africa
28
36
Back to index
Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$18.0M (▲2669%)
2( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$20.4M
7
-
16
1
Alternative Lending (Jumo)
(# Cos: 517 | $750M)
Online Lenders (Kopo Kopo)
(# Cos: 424 | $748M)
Consumer Loans (OneFi)
(# Cos: 270 | $260M)
Point of Sale Financing (Lipa Later)
(# Cos: 25 | $22.4M)
Direct Lender (Credpal)
(# Cos: 16 | $20.4M)
Credpal
(2017, $1.5M)
Lipa Later
(2015, $12.0M)
Sympl
(2021, $6.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Lipa Later (2015)
$12.0M - Seed - Jan 2022
Sympl (2021)
$6.0M - Seed - Nov 2021

37. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
Sistema (2009)
$15.6M - Series B - Jan 2022
Waste To Fuel - Africa
29
37
Back to index
Solid Waste Management Tech (Jumeni)
(# Cos: 26 | $27.7M)
Waste-To-Energy (Dauerhaft Nigeria)
(# Cos: 2 | $27.6M)
Fuel (Sistema)
(# Cos: 2 | $27.6M)
Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$15.6M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$27.6M
1
-
2
1
Sistema
(2009, $27.6M)
Dauerhaft Nigeria
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

38. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
Syngas From Waste - Africa
30
38
Back to index
Renewable Energy Tech (SunCulture)
(# Cos: 38 | $66.7M)
From Waste (Sistema)
(# Cos: 1 | $27.6M)
Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$15.6M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$27.6M
1
-
1
1
Sistema
(2009, $27.6M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Sistema (2009)
$15.6M - Series B - Jan 2022

39. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
Home Furnishing Products Marketplaces
- Africa
31
39
Back to index
Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$15.0M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$17.2M
2
-
6
1
Home Improvements (AbegYa)
(# Cos: 84 | $18.8M)
B2C Commerce (Miraco)
(# Cos: 70 | $18.8M)
Horizontal (Kemitt)
(# Cos: 34 | $18.2M)
Marketplace (Homzmart)
(# Cos: 6 | $17.2M)
Homzmart
(2018, $17.2M)
Showroom Westcape
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Homzmart (2018)
$15.0M - Series A - May 2021

40. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
WhereIsMyTransport (2015)
$14.5M - Series A - Jun 2021
GIS in Transportation - Africa
32
40
Back to index
Geographic Information Systems (Makani)
(# Cos: 94 | $27.8M)
Location Analytics (CrimeSpotter)
(# Cos: 35 | $27.8M)
Transportation (WhereIsMyTransport)
(# Cos: 12 | $27.8M)
Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$14.5M (▲93.3%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$27.8M
1
-
12
1
WhereIsMyTransport
(2015, $27.8M)
ChiNcoTrac Wasalny
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

41. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
WhereIsMyTransport (2015)
$14.5M - Series A - Jun 2021
Traffic Data - Africa
33
41
Back to index
Data as a Service (PocketDoc)
(# Cos: 71 | $28.2M)
Geography (Ma3Route)
(# Cos: 5 | $27.8M)
Traffic Data (WhereIsMyTransport)
(# Cos: 5 | $27.8M)
Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$14.5M (▲93.3%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$27.8M
3
-
5
1
WhereIsMyTransport
(2015, $27.8M)
Ma3Route
(2012, $25.0K)
Bey2ollak
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

42. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
Public Transport Data Collection
Solutions - Africa
34
42
Back to index
Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$14.5M (▲93.3%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$27.8M
1
-
2
1
Road Transport Tech (SafeBoda)
(# Cos: 821 | $281M)
Mass Transit (Swvl)
(# Cos: 100 | $163M)
Enablers (Keolis)
(# Cos: 13 | $27.8M)
Operator Transit Planning (GoMetro)
(# Cos: 3 | $27.8M)
Data Collection (WhereIsMyTransport)
(# Cos: 2 | $27.8M)
WhereIsMyTransport
(2015, $27.8M)
GoMetro
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
WhereIsMyTransport (2015)
$14.5M - Series A - Jun 2021

43. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
Off Grid Distributed Solar Energy Resource
Management Systems - Africa
35
43
Back to index
Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$14.1M ( -- )
2( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$14.1M
2
-
2
1
Renewable Energy Tech (The Sun Exchange)
(# Cos: 38 | $66.7M)
Solar Energy (SunCulture)
(# Cos: 26 | $39.1M)
DERMS (Devergy)
(# Cos: 2 | $14.1M)
Off Grid (Baobab +)
(# Cos: 2 | $14.1M)
Baobab +
(2015, $14.1M)
Devergy
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Baobab + (2015)
$11.7M - Series A - Sep 2021
Baobab + (2015)
$2.3M - Seed - Apr 2021

44. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
B2B Hyperlocal Delivery - Africa
36
44
Back to index
Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$13.7M ( -- )
2( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
2
$17.6M
6
-
23
1
Logistics Tech (Kobo360)
(# Cos: 876 | $249M)
Parcel (Kwik)
(# Cos: 323 | $92.2M)
Hyperlocal Delivery (MAX)
(# Cos: 211 | $90.6M)
B2B (Bosta)
(# Cos: 23 | $17.6M)
Bosta
(2016, $8.1M)
Yalla Fel Sekka
(2019, $9.5M)
Wumdrop
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Yalla Fel Sekka (2019)
$7.0M - Series A - Feb 2022
Bosta (2016)
$6.7M - Series A - May 2021

45. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
White Label Prepaid Cards Solutions -
Africa
37
45
Back to index
Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$13.1M ( -- )
3( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$18.1M
4
-
6
1
Payments (Interswitch)
(# Cos: 977 | $1.7B)
Enablers (Entersekt)
(# Cos: 64 | $29.2M)
White Label Solutions (Paycorp Holdings)
(# Cos: 23 | $18.1M)
Payment Cards (Union54)
(# Cos: 9 | $18.1M)
Prepaid Cards (AppZone Group)
(# Cos: 6 | $18.1M)
AppZone Group
(2008, $15.0M)
Union54
(2020, $3.1M)
_$udo
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
AppZone Group (2008)
$10.0M - Series A - Apr 2021
Union54 (2020)
$3.0M - Seed - Oct 2021
Union54 (2020)
$125K - Seed - Sep 2021

46. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
B2C Used Cars Marketplaces - Africa
38
46
Back to index
Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$13.1M (▲285%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$16.5M
2
-
9
1
Auto E-Commerce & Content (Naked)
(# Cos: 399 | $38.3M)
Second Hand Vehicles (ContactCars)
(# Cos: 196 | $23.1M)
Cars (AutoTrader)
(# Cos: 137 | $23.1M)
B2C Marketplace (Automarket)
(# Cos: 9 | $16.5M)
Automarket
(2020, $16.5M)
Wafa AutoBid
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Automarket (2020)
$13.1M - Seed - Oct 2021

47. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
Internet First Pay Per Mile Insurers -
Africa
39
47
Back to index
Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$11.1M ( -- )
2( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$14.8M
3
-
6
1
Auto E-Commerce & Content (AutoTrader)
(# Cos: 399 | $38.3M)
Insurance (JaSure Financial Services)
(# Cos: 26 | $14.8M)
Internet First Insurer (AiCare)
(# Cos: 9 | $14.8M)
Usage Based (Naked)
(# Cos: 6 | $14.8M)
Naked
(2016, $14.8M)
AiCare JaSure Financial Servi..
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Naked (2016)
$11.1M - Series A - Aug 2021
AiCare (2020)
Undisclosed - Seed - May 2021

48. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
Internet First Usage Based Auto Insurers
- Africa
40
48
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Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$11.1M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$14.8M
1
-
3
1
Internet First Insurance Platforms (Jamii)
(# Cos: 142 | $799M)
Internet First Insurers (RelianceHMO)
(# Cos: 55 | $119M)
P&C (FarmCrowdy)
(# Cos: 26 | $16.8M)
Auto (Griffin)
(# Cos: 6 | $14.8M)
Usage-based (Naked)
(# Cos: 3 | $14.8M)
Naked
(2016, $14.8M)
Griffin Intaba Financial Servi..
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Naked (2016)
$11.1M - Series A - Aug 2021

49. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
Farmer to Farmer Content Platforms -
Africa
41
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Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$11.0M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$32.0M
1
-
6
1
Crop Tech (Aerobotics)
(# Cos: 553 | $309M)
Content Platforms (Tulaa)
(# Cos: 47 | $35.7M)
Farming Advice (Esoko)
(# Cos: 32 | $35.4M)
Farmer to Farmer (Wefarm)
(# Cos: 6 | $32.0M)
Wefarm
(2015, $32.0M)
Agriteer Agricbase.com
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Wefarm (2015)
$11.0M - Series A - Mar 2021

50. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
PBP (2019)
$5.0M - Series A - Jan 2022
Chari (2014)
$5.0M - Seed - Oct 2021
Kamioun (2020)
$400K - Seed - Dec 2021
Chari (2014)
Undisclosed - Seed - Jul 2021
Chari (2014)
Undisclosed - Seed - Jan 2022
B2B Horizontal Marketplaces - Africa
42
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B2B E-Commerce (Twiga Foods)
(# Cos: 197 | $435M)
Horizontal (Omnibiz)
(# Cos: 37 | $67.6M)
Marketplace (WaystoCap)
(# Cos: 21 | $63.6M)
Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$10.4M (▲4233%)
5(▲400%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$63.6M
8
-
21
1
WaystoCap
(2014, $3.0M)
Chari
(2014, $5.2M)
Jiji
(2014, $50.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

51. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
Food Ordering Platforms - Africa
43
51
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Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$10.1M (▲ >10K%)
2(▼50%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
2
$19.7M
11
-
102
1
Food Tech (Yum)
(# Cos: 241 | $40.0M)
Food Discovery and Ordering (Otlob)
(# Cos: 154 | $37.9M)
Restaurant Aggregator (OrderIn)
(# Cos: 125 | $37.2M)
Platform Delivered (elmenus)
(# Cos: 102 | $19.7M)
elmenus
(2011, $19.5M)
Yum MrD Food
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
elmenus (2011)
$10.0M - Series B - Jul 2021
Jise (2020)
$100K - Angel - Oct 2021

52. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
HRMS for Enterprises - Africa
44
52
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Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$10.0M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$10.2M
4
-
62
1
HRTech (Gebeya)
(# Cos: 1079 | $50.2M)
HRMS (TalentBase)
(# Cos: 141 | $12.5M)
Suite (WorkPay)
(# Cos: 118 | $12.5M)
Enterprise (SeamlessHR)
(# Cos: 62 | $10.2M)
SeamlessHR
(2011, $10.2M)
PAYNAS SeamlessHR
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
SeamlessHR (2011)
$10.0M - Series A - Jan 2022

53. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
Retail POS Solutions - Africa
45
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In Store Retail Tech (TradeDepot)
(# Cos: 189 | $221M)
POS (Yoco)
(# Cos: 102 | $36.2M)
Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$8.1M ( -- )
3( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
7
$36.2M
16
-
102
1
Yoco
(2013, $23.0M)
POSRocket
(2016, $7.2M)
SureSwipe
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
POSRocket (2016)
$5.0M - Series A - Aug 2021
Tall Order Pos (2010)
$3.1M - Series A - Jan 2022
KudiGo (2017)
Undisclosed - Seed - Mar 2021

54. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
B2B Processed Food Products
Marketplace - Africa
46
54
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Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$7.7M ( -- )
2( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$7.7M
4
-
7
0
B2B E-Commerce (WaystoCap)
(# Cos: 197 | $435M)
Food & Beverages (Maxab)
(# Cos: 50 | $185M)
Groceries (Twiga Foods)
(# Cos: 49 | $185M)
Processed Products (Cartona)
(# Cos: 10 | $8.8M)
Diversified (Food Supply)
(# Cos: 10 | $8.8M)
Marketplace (JABU)
(# Cos: 7 | $7.7M)
JABU
(2020, $3.2M)
Food Supply Cartona
(2019, $4.5M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Cartona (2019)
$4.5M - Seed - Sep 2021
JABU (2020)
$3.2M - Seed - Jan 2022

55. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
Online Marketplace for Drugs - Africa
47
55
Back to index
Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$7.5M ( -- )
2( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$24.0M
11
-
137
1
Healthcare Booking Platforms (Vezeeta)
(# Cos: 703 | $105M)
Pharmacies (Yodawy)
(# Cos: 217 | $25.5M)
Drugs (MyDawa)
(# Cos: 144 | $24.0M)
Diversified (Chefaa)
(# Cos: 137 | $24.0M)
Chefaa MyDawa
(2017, $8.0M)
Yodawy
(2018, $7.5M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Yodawy (2018)
$7.5M - Series B - Jul 2021
Yodawy (2018)
$7.5M - Series B - Jul 2021

56. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
Telepharmacy For Drugs - Africa
48
56
Back to index
Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$7.5M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$7.5M
3
-
26
0
Healthcare Booking Platforms (Vezeeta)
(# Cos: 703 | $105M)
Pharmacies (Arone)
(# Cos: 217 | $25.5M)
Drugs (MyDawa)
(# Cos: 144 | $24.0M)
Diversified (Chefaa)
(# Cos: 137 | $24.0M)
Telepharmacy (Yodawy)
(# Cos: 26 | $7.5M)
Yodawy
(2018, $7.5M)
DrSavealife Dawaya
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Yodawy (2018)
$7.5M - Series B - Jul 2021

57. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
Internet First Working Capital Loans
Marketplaces - Africa
49
57
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Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$6.3M ( -- )
4( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$6.3M
3
-
12
0
Alternative Lending (Jumo)
(# Cos: 517 | $750M)
Online Lenders (OneFi)
(# Cos: 424 | $748M)
Business Loans (Kopo Kopo)
(# Cos: 80 | $62.5M)
Working Capital Loans (Numida)
(# Cos: 15 | $6.3M)
Marketplace (Pezesha)
(# Cos: 12 | $6.3M)
Pezesha
(2016, $30.0K)
Numida
(2015, $2.3M)
PayHippo
(2019, $4.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
PayHippo (2019)
$3.0M - Seed - Nov 2021
Numida (2015)
$2.3M - Seed - Apr 2021
PayHippo (2019)
$1.0M - Seed - Jul 2021
Pezesha (2016)
Undisclosed - Seed - Sep 2021

58. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
Cryptocurrency Trading Platforms -
Africa
50
58
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Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$6.2M (▼34.4%)
2( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$17.3M
7
-
95
3
Cryptocurrencies (Xend Finance)
(# Cos: 652 | $78.2M)
Financial Services (BitPesa)
(# Cos: 553 | $72.9M)
Investment Industry (ACDX)
(# Cos: 442 | $47.8M)
Online Trading Platforms (AltCoinTrader)
(# Cos: 107 | $17.3M)
Regular Trading (VALR)
(# Cos: 95 | $17.3M)
VALR
(2018, $5.0M)
AltCoinTrader Busha
(2018, $4.2M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Busha (2018)
$4.2M - Seed - Nov 2021
Ejara (2019)
$2.0M - Seed - Oct 2021

59. Africa Tech - Top Business Models Report Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
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Africa Tech - Top Business Models Report
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