The document is a report on top business models in Africa tech that received funding in the last year. It provides an overview of total funding by sector and top investors. It then lists the top 50 funded business models by amount invested over the past year, including the ranking, business model, total funding, number of funding rounds, and details of the largest funding round for each. It includes taxonomy diagrams and recent funding round details for some of the top business models.

1. TRACXN TOP BUSINESS MODELS REPORT
September 24, 2021
AFRICA TECH

2. Africa Tech - Top Business Models Report Copyright © 2021, 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 © 2021, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Funding in last 1 year
3
Payments $806M
Sports Tech $377M
B2B E-Commerce $74.2M
Life Sciences Tech $25.0M
Y-o-Y Funding
Top Investors by Funding Rounds
Seed
Stage
Y Combinator
Launch Africa
Future Africa
18
13
10
Early
Stage
FMO
Flourish
Algebra Ventures
4
4
4
Late
Stage
MultiChoice
Redpoint Ventures
Wamda
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
MNT Halan
(2017, )
$120M - Series D
TYME
(2012, )
$110M - Series B
TymeBank
(2012, )
$110M - Series B
PalmPay
(2019, )
$100M - Series A
BetKing
(2018, )
$83.1M - Series C
Yoco
(2015, )
$83.0M - Series C
Kuda
(2017, )
$55.0M - Series B
FairMoney
(2018, )
$42.0M - Series B
FairMoney
(2017, )
$42.0M - Series B
Maxab
(2018, )
$40.0M - Series A
Lagos (36%)
Ikeja (22%)
Johannesburg (13%)
Cairo (10%)
Giza (7%)
Others (13%)

4. Copyright © 2021, 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<> 0 Business Payments Solutions $514M 7 OPay | $400M | Series C Link
2-- Sports Betting Platforms $377M 2 BetKing | $293M | Series C Link
3-- Sports Betting Platforms $377M 2 BetKing | $293M | Series C Link
4▼2 Digital Wallets $234M 9 MNT Halan | $120M | Series D Link
5-- Digital Native Retail Banks $200M 4 TymeBank | $110M | Series B Link
6-- Internet First Lenders $120M 1 MNT Halan | $120M | Series D Link
7-- Banking Software Suite $110M 1 TYME | $110M | Series B Link
8-- KYC for Financial Institutions $110M 1 TYME | $110M | Series B Link
9-- Internet First Personal Loans $84.0M 2 FairMoney | $42.0M | Series B Link
10▲2 Online B2B Grocery Distributor $55.0M 3 Maxab | $40.0M | 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. Copyright © 2021, 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▼6
B2B E-Commerce > Food & Beverages > Groceries >
Farm Products > E-Distributor
$55.0M 2 Maxab | $40.0M | Series A Link
12▼3 Truck Booking Marketplace $30.6M 5 Trella | $30.0M | Series A Link
13▲7 Genomic Data Analysis Platforms $25.0M 1 54gene | $25.0M | Series B Link
14▲7 Genomic Sequence Analysis Softwares $25.0M 1 54gene | $25.0M | Series B Link
15▲7 Gene Biobanking Services $25.0M 1 54gene | $25.0M | Series B Link
16▲19 Drone Services for Agriculture $17.0M 1 Aerobotics | $17.0M | Series B Link
17▲19 Drone Based Farm Analytics $17.0M 1 Aerobotics | $17.0M | Series B Link
18▲36 Home Furnishing Products Marketplaces $15.0M 1 Homzmart | $15.0M | Series A Link
19▲12 Traffic Data $14.5M 1 WhereIsMyTra.. | $14.5M | Series A Link
20▲12 Public Transport Data Collection Solutions $14.5M 1 WhereIsMyTra.. | $14.5M | Series A Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

6. Copyright © 2021, 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--
Off Grid Distributed Solar Energy Resource
Management Systems
$14.1M 2 Baobab + | $11.7M | Series A Link
22-- Smart Solar Water Pumps $14.0M 1 SunCulture | $14.0M | Series A Link
23▼17 Informal Distribution $13.5M 2 Alerzo | $10.5M | Series A Link
24-- Internet First Pay Per Mile Insurers $11.1M 1 Naked | $11.1M | Series A Link
25-- Internet First Usage Based Auto Insurers $11.1M 1 Naked | $11.1M | Series A Link
26-- Core Banking Platforms $11.0M 2 AppZone Group | $10.0M | Series A Link
27-- Farmer to Farmer Content Platforms $11.0M 1 Wefarm | $11.0M | Series A Link
28▲2 Food Ordering Platforms $10.0M 3 elmenus | $10.0M | Series B Link
29-- White Label Prepaid Cards Solutions $10.0M 1 AppZone Group | $10.0M | Series A Link
30▲28 Open Banking API Providers $7.5M 2 Stitch | $4.0M | Seed Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

7. Copyright © 2021, 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▲28 Online Marketplace for Drugs $7.5M 2 Yodawy | $7.5M | Series B Link
32-- Telepharmacy For Drugs $7.5M 1 Yodawy | $7.5M | Series B Link
33▲19 B2B Hyperlocal Delivery $6.7M 1 Bosta | $6.7M | Series A Link
34-- Internet First Micro Health Insurers $5.4M 2 Turaco | $3.4M | Series A Link
35-- Online Savings Platforms $4.8M 4 CowryWise | $3.5M | Seed Link
36-- Blockchain Protocol for Financial Services $4.7M 1 Pynths | $4.7M | Series A Link
37--
B2B E-Commerce > Food & Beverages > Groceries >
Processed Products > Diversified > Marketplace
$4.5M 1 Cartona | $4.5M | Seed Link
38▼31 Field Sales Software $4.1M 3 Skynamo | $2.0M | Series A Link
39▼28 Crypto Exchanges $4.0M 2 OVEX | $4.0M | Seed Link
40-- Multi Products Marketplaces $4.0M 1 Skygarden | $4.0M | Series A Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

8. Copyright © 2021, 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--
Internet First Banks for Businesses with Partner
Bank's License
$3.8M 1 Prospa | $3.8M | Seed Link
42▲13 Agent Based Payments $3.5M 3 Diool | $3.5M | Series A Link
43-- POS Mobile Apps $3.5M 1 ArifPay | $3.5M | Series A Link
44-- B2C Used Cars Marketplaces $3.4M 1 Automarket | $3.4M | Seed Link
45-- Internet First Working Capital Loans Marketplaces $3.3M 4 Numida | $2.3M | Seed Link
46-- B2B E-Commerce > Horizontal > E-Distributor $3.2M 3 Omnibiz | $3.0M | Seed Link
47-- Correspondent Banking Solutions $3.1M 4 Dayra | $3.0M | Seed Link
48-- Online Courses for Universities $2.9M 1 The Student Hub | $2.9M | Seed Link
49-- Post Harvest Traceability $2.7M 2 Releaf | $2.7M | Seed Link
50▲55 Online Professional Learning Courses $2.5M 1 iX | $2.5M | Series A Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

9. Copyright © 2021, 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
Adumo (2009)
$15.0M - Series B - Feb 2021
Paymob (2015)
$15.0M - Series A - Apr 2021
appsNmobile (2015)
$1.0M - Seed - Jun 2021
Data Integrated (2012)
Undisclosed - Seed - Oct 2020
TeamApt (2015)
Undisclosed - Series B - Jul 2021
Business Payments Solutions - Africa
01
9
Back to index
Payments (Paga)
(# Cos: 946 | $1.7B)
Business Payments (OPay)
(# Cos: 528 | $1.1B)
Diversified (Interswitch)
(# Cos: 79 | $918M)
Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$514M(▲58.9%)
7(▲75%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
3
$918M
17
2
79
6
Interswitch
(2002, $200M)
OPay
(2018, $570M)
Yoco
(2015, $107M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

10. Copyright © 2021, 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
$377M( -- )
2( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$377M
6
-
32
1
Gambling Tech (Betika)
(# Cos: 194 | $377M)
Online Gambling Platforms (Pokerbros)
(# Cos: 92 | $377M)
Betting (Interbet)
(# Cos: 38 | $377M)
Sports (Bet.co.za)
(# Cos: 35 | $377M)
Multi Sports (BetKing)
(# Cos: 32 | $377M)
BetKing
(2018, $377M)
Bet.co.za Interbet
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
BetKing (2018)
$83.1M - Series C - Nov 2020

11. Copyright © 2021, 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
$377M( -- )
2( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$377M
6
-
36
1
Sports Tech (SuperSport)
(# Cos: 210 | $379M)
Sports Betting (Interbet)
(# Cos: 86 | $377M)
Betting Platforms (Bet.co.za)
(# Cos: 38 | $377M)
Multi Sports (BetKing)
(# Cos: 36 | $377M)
BetKing
(2018, $377M)
Bet.co.za Interbet
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
BetKing (2018)
$83.1M - Series C - Nov 2020

12. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
MNT Halan (2017)
$120M - Series D - Aug 2021
PalmPay (2019)
$100M - Series A - Aug 2021
ZeePay (2014)
$7.9M - Series A - Jun 2021
telda (2019)
$5.0M - Seed - May 2021
ZeePay (2014)
$940K - Seed - Dec 2020
Kaoun (2018)
$100K - Seed - Apr 2021
Moja Ride (2017)
Undisclosed - Seed - Mar 2021
View all 9 Funding Rounds on Tracxn Platform
Digital Wallets - Africa
04
12
Back to index
Payments (Interswitch)
(# Cos: 946 | $1.7B)
Consumer Payments (OPay)
(# Cos: 359 | $538M)
Wallets (Paga)
(# Cos: 190 | $481M)
Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$234M(▲45.9%)
9(▲80%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
3
$481M
38
-
190
6
Paga
(2009, $35.0M)
OPay
(2018, $170M)
PalmPay
(2019, $140M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

13. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
Digital Native Retail Banks - Africa
05
13
Back to index
Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$200M( -- )
4( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$215M
2
-
2
1
Banking Tech (Jumo)
(# Cos: 322 | $578M)
Internet First Banks (Prospa)
(# Cos: 62 | $222M)
Digital Native Banks (TymeBank)
(# Cos: 10 | $215M)
Retail Banking (Kuda)
(# Cos: 2 | $215M)
Kuda
(2017, $91.6M)
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)
$55.0M - Series B - Aug 2021
Kuda (2017)
$25.0M - Series A - Mar 2021
Kuda (2017)
$10.0M - Seed - Nov 2020

14. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
Internet First Lenders - Africa
06
14
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
-
24
1
Alternative Lending (OneFi)
(# Cos: 483 | $578M)
Online Lenders (Kopo Kopo)
(# Cos: 393 | $576M)
Diversified (Jumo)
(# Cos: 58 | $306M)
Direct Lender (MNT Halan)
(# Cos: 24 | $120M)
MNT Halan
(2017, $120M)
Zash Loan Fido
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
MNT Halan (2017)
$120M - Series D - Aug 2021

15. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
Banking Software Suite - Africa
07
15
Back to index
Banking Tech (Kuda)
(# Cos: 322 | $578M)
Banking Software Suite (Fintech Group)
(# Cos: 39 | $110M)
Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$110M( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
2
$110M
4
-
39
0
Fintech Group TYME
(2012, $110M)
Finplus
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

16. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
KYC for Financial Institutions - Africa
08
16
Back to index
RegTech (Entersekt)
(# Cos: 45 | $123M)
KYC (TYME)
(# Cos: 21 | $113M)
Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$110M( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$113M
7
-
21
0
TYME
(2012, $110M)
Seamfix Inclusive Financial Te..
(2016, $17.5K)
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

17. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
Internet First Personal Loans - 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
$84.0M( -- )
2( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$110M
4
-
33
2
Alternative Lending (Jumo)
(# Cos: 483 | $578M)
Online Lenders (Kopo Kopo)
(# Cos: 393 | $576M)
Consumer Loans (OneFi)
(# Cos: 256 | $211M)
Personal Loans (Carbon)
(# Cos: 77 | $121M)
Direct Lender (FairMoney)
(# Cos: 33 | $110M)
FairMoney
(2017, $54.5M)
FairMoney
(2018, $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 (2018)
$42.0M - Series B - Jul 2021
FairMoney (2017)
$42.0M - Series B - Jul 2021

18. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
Online B2B Grocery Distributor - 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
$55.0M(▲127%)
3(▼25%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$88.2M
4
-
5
1
Online Grocery (Breadfast)
(# Cos: 320 | $201M)
B2B Ecommerce (Twiga)
(# Cos: 57 | $181M)
Multi-Category (Sokowatch)
(# Cos: 11 | $133M)
E-Distributor (Maxab)
(# Cos: 5 | $88.2M)
Maxab
(2018, $61.2M)
Sokowatch
(2013, $26.9M)
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
Suplias (2019)
Undisclosed - Seed - Jul 2021

19. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
B2B E-Commerce > Food & Beverages > Groceries > Farm
Products > E-Distributor - Africa
11
19
Back to index
Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$55.0M(▲51.7%)
2(▼50%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$108M
4
-
6
1
B2B E-Commerce (WaystoCap)
(# Cos: 160 | $235M)
Food & Beverages (AgroCenta)
(# Cos: 42 | $158M)
Groceries (Twiga Foods)
(# Cos: 42 | $158M)
Farm Products (Twiga)
(# Cos: 33 | $154M)
E-Distributor (Maxab)
(# Cos: 6 | $108M)
Maxab
(2018, $61.2M)
Twiga
(2014, $46.5M)
iProcure
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

20. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
Truck Booking Marketplace - 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
$30.6M(▲2.2%)
5(▲25%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$107M
11
-
47
3
Logistics Tech (Sendy)
(# Cos: 726 | $191M)
Freight (AmiTruck)
(# Cos: 336 | $109M)
Trucking (Trella)
(# Cos: 285 | $108M)
Heavy Cargo (Lori)
(# Cos: 64 | $107M)
Marketplace (Kobo360)
(# Cos: 47 | $107M)
Kobo360
(2016, $30.6M)
Lori
(2016, $44.9M)
Trella
(2018, $30.8M)
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
ILLA (2017)
$500K - Seed - Nov 2020
Ridelink (2016)
$150K - Seed - Aug 2021
Lori (2016)
Undisclosed - Series A - Nov 2020
AmiTruck (2018)
Undisclosed - Seed - Feb 2021

21. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
54gene (2019)
$25.0M - Series B - Sep 2021
Genomic Data Analysis Platforms - Africa
13
21
Back to index
Genomics (3X4 Genetics)
(# Cos: 56 | $47.5M)
Genome Informatics (IndyGeneUS)
(# Cos: 4 | $45.0M)
Integrative Bioinformatics Platforms
(54gene)
(# Cos: 3 | $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
-
$45.0M
1
-
3
1
54gene
(2019, $45.0M)
IndyGeneUS CoCoNUT
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

22. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
Genomic Sequence Analysis Softwares -
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
$25.0M(▲66.7%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$45.0M
1
-
2
1
Life Sciences Tech (GoldKeys)
(# Cos: 34 | $45.0M)
Research & Development (Linum Labs)
(# Cos: 28 | $45.0M)
Drug Discovery (Mara Scientific)
(# Cos: 3 | $45.0M)
Genomics (CoCoNUT)
(# Cos: 2 | $45.0M)
Sequencing Analysis (54gene)
(# Cos: 2 | $45.0M)
54gene
(2019, $45.0M)
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

23. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
Gene Biobanking Services - 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
$25.0M(▲66.7%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$45.0M
1
-
1
1
Life Sciences Platforms and Tools (Quorus Biotech)
(# Cos: 39 | $45.0M)
Research Services (Synexa Life Sciences)
(# Cos: 23 | $45.0M)
Biorepository (Next Biosciences)
(# Cos: 7 | $45.0M)
Gene Biobanking (54gene)
(# Cos: 1 | $45.0M)
54gene
(2019, $45.0M)
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

24. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
Aerobotics (2014)
$17.0M - Series B - Dec 2020
Drone Services for Agriculture - Africa
16
24
Back to index
Drones (Passerine Aircraft Corporation)
(# Cos: 64 | $27.4M)
Tech Enabled Services (Arone)
(# Cos: 37 | $27.1M)
Crop Management (Aerobotics)
(# Cos: 14 | $27.1M)
Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$17.0M(▲211%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$27.1M
2
-
14
1
Aerobotics
(2014, $27.1M)
WeFly Agri Agridrone
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

25. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
Aerobotics (2014)
$17.0M - Series B - Dec 2020
Drone Based Farm Analytics - Africa
17
25
Back to index
Crop Tech (FarmCrowdy)
(# Cos: 524 | $285M)
Farm Analytics (Lentera Africa)
(# Cos: 26 | $27.1M)
Drones Based (Aerobotics)
(# Cos: 11 | $27.1M)
Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$17.0M(▲211%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$27.1M
1
-
11
1
Aerobotics
(2014, $27.1M)
WeFly Agri Agridrone
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

26. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
Home Furnishing Products Marketplaces
- Africa
18
26
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(▲1054%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$17.2M
2
-
6
1
Home Improvements (AbegYa)
(# Cos: 66 | $18.2M)
B2C Commerce (Kemitt)
(# Cos: 52 | $18.2M)
Horizontal (Manzzeli)
(# Cos: 28 | $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

27. Copyright © 2021, 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
19
27
Back to index
Data as a Service (EMDEX)
(# 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.

28. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
Public Transport Data Collection
Solutions - 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
$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: 730 | $207M)
Mass Transit (Swvl)
(# Cos: 89 | $142M)
Enablers (Keolis)
(# Cos: 9 | $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

29. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
Off Grid Distributed Solar Energy Resource
Management Systems - Africa
21
29
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
0
Renewable Energy Tech (SunCulture)
(# Cos: 33 | $48.6M)
Solar Energy (The Sun Exchange)
(# Cos: 21 | $36.6M)
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

30. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
SunCulture (2012)
$14.0M - Series A - Dec 2020
Smart Solar Water Pumps - Africa
22
30
Back to index
Crop Tech (Aerobotics)
(# Cos: 524 | $285M)
Farm Equipment (UkulimaTech)
(# Cos: 7 | $14.2M)
Smart Solar Water Pumps (SunCulture)
(# Cos: 1 | $14.2M)
Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$14.0M( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$14.2M
1
-
1
1
SunCulture
(2012, $14.2M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

31. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
Informal Distribution - Africa
23
31
Back to index
In Store Retail Tech (Yoco)
(# Cos: 183 | $106M)
Informal Distribution (TradeDepot)
(# Cos: 4 | $63.9M)
Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$13.5M(▼59.7%)
2(▼33.3%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$63.9M
4
-
4
3
TradeDepot
(2015, $13.0M)
Sokowatch
(2013, $26.9M)
Omnibiz
(2010, $4.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Alerzo (2018)
$10.5M - Series A - Aug 2021
Omnibiz (2010)
$3.0M - Seed - Aug 2021

32. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
Internet First Pay Per Mile Insurers -
Africa
24
32
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( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$14.8M
2
-
4
1
Auto E-Commerce & Content (AutoTrader)
(# Cos: 358 | $25.2M)
Insurance (Griffin)
(# Cos: 23 | $14.8M)
Internet First Insurer (JaSure Financial
Services)
(# Cos: 6 | $14.8M)
Usage Based (Naked)
(# Cos: 4 | $14.8M)
Naked
(2016, $14.8M)
JaSure Financial Servi.. Griffin
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

33. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
Internet First Usage Based Auto Insurers
- Africa
25
33
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( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$14.8M
1
-
3
1
Internet First Insurance Platforms (Pineapple)
(# Cos: 137 | $706M)
Internet First Insurers (RelianceHMO)
(# Cos: 49 | $26.7M)
P&C (FarmCrowdy)
(# Cos: 25 | $16.8M)
Auto (Griffin)
(# Cos: 5 | $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

34. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
Core Banking Platforms - Africa
26
34
Back to index
Banking Tech (Kuda)
(# Cos: 322 | $578M)
Core Banking Platforms (Ensibuuko)
(# Cos: 37 | $16.8M)
Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$11.0M( -- )
2( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$16.8M
6
-
37
1
Ensibuuko
(2012, $1.6M)
AppZone Group
(2008, $15.0M)
Craft Silicon
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
Ensibuuko (2012)
$1.0M - Seed - Apr 2021

35. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
Farmer to Farmer Content Platforms -
Africa
27
35
Back to index
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: 524 | $285M)
Content Platforms (Esoko)
(# Cos: 45 | $35.7M)
Farming Advice (Tulaa)
(# Cos: 30 | $35.4M)
Farmer to Farmer (Wefarm)
(# Cos: 6 | $32.0M)
Wefarm
(2015, $32.0M)
Agricbase.com Agriteer
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

36. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
Food Ordering Platforms - 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
$10.0M(▲23.5%)
3( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
2
$19.6M
8
-
85
1
Food Tech (EatOut)
(# Cos: 212 | $21.3M)
Food Discovery and Ordering (MrD Food)
(# Cos: 134 | $20.3M)
Restaurant Aggregator (Otlob)
(# Cos: 107 | $19.6M)
Platform Delivered (elmenus)
(# Cos: 85 | $19.6M)
elmenus
(2011, $19.5M)
MrD Food Tayary
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
elmenus (2011)
Undisclosed - Angel - Feb 2021
Tayary (2016)
Undisclosed - Seed - Jan 2021

37. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
White Label Prepaid Cards Solutions -
Africa
29
37
Back to index
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
-
$15.0M
3
-
4
1
Payments (Paga)
(# Cos: 946 | $1.7B)
Enablers (Entersekt)
(# Cos: 59 | $26.1M)
White Label Solutions (CIT VERiCASH)
(# Cos: 20 | $15.0M)
Payment Cards (Paycorp Holdings)
(# Cos: 7 | $15.0M)
Prepaid Cards (AppZone Group)
(# Cos: 4 | $15.0M)
AppZone Group
(2008, $15.0M)
PayLogic _$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

38. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
Stitch (2019)
$4.0M - Seed - Feb 2021
Okra (2019)
$3.5M - Seed - Apr 2021
Open Banking API Providers - Africa
30
38
Back to index
Banking Tech (Kuda)
(# Cos: 322 | $578M)
Open Banking (Open Banking)
(# Cos: 17 | $9.5M)
Banking APIs (Okra)
(# Cos: 10 | $9.5M)
Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$7.5M(▲650%)
2( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$9.5M
6
-
10
2
Okra
(2019, $4.5M)
Stitch
(2019, $4.0M)
TechAdvance
(2009, $1.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

39. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
Online Marketplace for Drugs - 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
$7.5M(▲650%)
2( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$24.0M
10
-
125
1
Healthcare Booking Platforms (Vezeeta)
(# Cos: 650 | $101M)
Pharmacies (MyDawa)
(# Cos: 199 | $25.5M)
Drugs (Yodawy)
(# Cos: 132 | $24.0M)
Diversified (Chefaa)
(# Cos: 125 | $24.0M)
Chefaa Yodawy
(2018, $7.5M)
MyDawa
(2017, $8.0M)
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

40. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
Telepharmacy For Drugs - Africa
32
40
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
2
-
23
0
Healthcare Booking Platforms (Vezeeta)
(# Cos: 650 | $101M)
Pharmacies (3elagi)
(# Cos: 199 | $25.5M)
Drugs (MyDawa)
(# Cos: 132 | $24.0M)
Diversified (Chefaa)
(# Cos: 125 | $24.0M)
Telepharmacy (Yodawy)
(# Cos: 23 | $7.5M)
Yodawy
(2018, $7.5M)
Konsolto Mhealth Ghana
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

41. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
B2B Hyperlocal Delivery - Africa
33
41
Back to index
Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$6.7M(▲365%)
1(▼75%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
2
$8.1M
6
-
23
0
Logistics Tech (Kobo360)
(# Cos: 726 | $191M)
Parcel (Gokada)
(# Cos: 292 | $46.0M)
Hyperlocal Delivery (MAX)
(# Cos: 199 | $45.7M)
B2B (Bosta)
(# Cos: 23 | $8.1M)
Bosta
(2016, $8.1M)
PicupSA Wumdrop
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Bosta (2016)
$6.7M - Series A - May 2021

42. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
Turaco (2019)
$3.4M - Series A - Dec 2020
Turaco (2019)
$2.0M - Seed - Oct 2020
Internet First Micro Health Insurers -
Africa
34
42
Back to index
Healthcare Payer Tech (Curacel)
(# Cos: 13 | $9.1M)
Internet First Insurers (Turaco)
(# Cos: 4 | $8.6M)
Micro Health Insurance (Jamii)
(# Cos: 4 | $8.6M)
Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$5.4M( -- )
2( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$8.6M
2
-
4
2
Jamii
(2016, $2.1M)
Turaco
(2019, $6.6M)
Soso Care
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

43. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
CowryWise (2017)
$3.5M - Seed - Jan 2021
Akiba Digital (2017)
$1.1M - Seed - Jul 2021
BezoMoney (2019)
$200K - Seed - Apr 2021
Crowdyvest (2019)
Undisclosed - Angel - Mar 2021
Online Savings Platforms - Africa
35
43
Back to index
Investment Tech (PiggyVest)
(# Cos: 567 | $105M)
Wealth Management Platforms (MoneyFellows)
(# Cos: 155 | $70.2M)
Savings Platforms (CowryWise)
(# Cos: 65 | $18.7M)
Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$4.8M( -- )
4( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$18.7M
20
-
65
2
CowryWise
(2017, $3.7M)
MoneyFellows
(2014, $6.0M)
PiggyVest
(2016, $1.1M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

44. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
Pynths (2021)
$4.7M - Series A - May 2021
Blockchain Protocol for Financial
Services - Africa
36
44
Back to index
Blockchain Infrastructure (Edgeware)
(# Cos: 15 | $4.7M)
Blockchain Network (Pynths)
(# Cos: 9 | $4.7M)
Finance (The Monero Project)
(# Cos: 4 | $4.7M)
Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$4.7M( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$4.7M
2
-
4
1
The Monero Project Pynths
(2021, $4.7M)
Tomo Finance
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

45. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
B2B E-Commerce > Food & Beverages > Groceries >
Processed Products > Diversified > Marketplace - 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
$4.5M( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$4.5M
3
-
7
0
B2B E-Commerce (WaystoCap)
(# Cos: 160 | $235M)
Food & Beverages (Twiga)
(# Cos: 42 | $158M)
Groceries (Maxab)
(# Cos: 42 | $158M)
Processed Products (Suplias)
(# Cos: 9 | $4.5M)
Diversified (Spazapp)
(# Cos: 9 | $4.5M)
Marketplace (Food Supply)
(# Cos: 7 | $4.5M)
Food Supply Spazapp 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

46. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
Field Sales Software - Africa
38
46
Back to index
Sales Force Automation (MarketForce360)
(# Cos: 134 | $39.6M)
Field Sales Software (Skynamo)
(# Cos: 5 | $34.7M)
Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$4.1M(▼86.6%)
3( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$34.7M
3
-
5
1
Skynamo
(2012, $32.1M)
MarketForce360
(2017, $2.6M)
Morpheus Commerce
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Skynamo (2012)
$2.0M - Series A - Apr 2021
MarketForce360 (2017)
$2.0M - Seed - Jul 2021
MarketForce360 (2017)
$100K - Seed - Aug 2021

47. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
Crypto Exchanges - 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
$4.0M(▼84%)
2( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$29.2M
8
-
322
2
Cryptocurrencies (Centbee)
(# Cos: 622 | $69.1M)
Financial Services (BitPesa)
(# Cos: 529 | $67.3M)
Investment Industry (VALR)
(# Cos: 426 | $40.2M)
Crypto Exchanges (OVEX)
(# Cos: 322 | $29.2M)
OVEX
(2017, $4.0M)
ACDX
(2020, $10.0M)
BuyCoins
(2017, $120K)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
OVEX (2017)
$4.0M - Seed - Jan 2021
ACDX (2020)
Undisclosed - Seed - Sep 2020

48. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
Multi Products Marketplaces - Africa
40
48
Back to index
Horizontal E-Commerce (Takealot)
(# Cos: 252 | $1.0B)
Marketplace (Jumia)
(# Cos: 90 | $775M)
Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$4.0M( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$775M
13
1
90
0
Jumia
(2012, $593M)
Jumia
(2013, $176M)
Skygarden
(2015, $5.3M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Skygarden (2015)
$4.0M - Series A - Jun 2021

49. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
Internet First Banks for Businesses with Partner
Bank's License - Africa
41
49
Back to index
Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$3.8M( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$3.8M
2
-
8
0
Banking Tech (TymeBank)
(# Cos: 322 | $578M)
Internet First Banks (Kuda)
(# Cos: 62 | $222M)
Through Bank Partnerships (Umba)
(# Cos: 41 | $6.8M)
Business Banking (Prospa)
(# Cos: 8 | $3.8M)
Prospa
(2019, $3.8M)
Brass Purple Money
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Prospa (2019)
$3.8M - Seed - Sep 2021

50. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
Diool (2015)
$3.5M - Series A - Feb 2021
Tanda (2017)
Undisclosed - Seed - Apr 2021
Bee Smart Payment Solutions (2009)
Undisclosed - Seed - Aug 2021
Agent Based Payments - Africa
42
50
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Payments (Paga)
(# Cos: 946 | $1.7B)
Business Payments (Interswitch)
(# Cos: 528 | $1.1B)
Agent Based Payments (Kudi)
(# Cos: 50 | $33.2M)
Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$3.5M(▲192%)
3( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
3
$33.2M
10
-
50
3
Kudi
(2016, $7.6M)
Zoona
(2009, $20.0M)
Bee Smart Payment Solu..
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

51. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
POS Mobile Apps - Africa
43
51
Back to index
Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$3.5M( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
2
$3.7M
3
-
22
1
Payments (Paga)
(# Cos: 946 | $1.7B)
Business Payments (Interswitch)
(# Cos: 528 | $1.1B)
POS Payments (Yoco)
(# Cos: 79 | $26.7M)
POS Mobile Apps (Karny)
(# Cos: 22 | $3.7M)
Karny Humble Software ArifPay
(2021, $3.5M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
ArifPay (2021)
$3.5M - Series A - Mar 2021

52. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
B2C Used Cars Marketplaces - 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
$3.4M( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$3.4M
2
-
9
1
Auto E-Commerce & Content (Naked)
(# Cos: 358 | $25.2M)
Second Hand Vehicles (Cars45)
(# Cos: 182 | $10.0M)
Cars (AutoTrader)
(# Cos: 129 | $10.0M)
B2C Marketplace (Automarket)
(# Cos: 9 | $3.4M)
Automarket
(2020, $3.4M)
Wafa AutoBid
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Automarket (2020)
$3.4M - Seed - Nov 2020

53. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
Internet First Working Capital Loans
Marketplaces - Africa
45
53
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Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$3.3M( -- )
4( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$3.3M
3
-
10
0
Alternative Lending (Jumo)
(# Cos: 483 | $578M)
Online Lenders (OneFi)
(# Cos: 393 | $576M)
Business Loans (Kopo Kopo)
(# Cos: 74 | $59.5M)
Working Capital Loans (Pezesha)
(# Cos: 13 | $3.3M)
Marketplace (Numida)
(# Cos: 10 | $3.3M)
Numida
(2015, $2.3M)
Pezesha
(2016, $30.0K)
PayHippo
(2019, $1.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Numida (2015)
$2.3M - Seed - Apr 2021
PayHippo (2019)
$1.0M - Seed - Jul 2021
Pezesha (2016)
$30.0K - Seed - Oct 2020
Pezesha (2016)
Undisclosed - Seed - Sep 2021

54. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
Omnibiz (2010)
$3.0M - Seed - Aug 2021
Chari (2014)
$240K - Seed - Jan 2021
Chari (2014)
Undisclosed - Seed - Jul 2021
B2B E-Commerce > Horizontal >
E-Distributor - Africa
46
54
Back to index
B2B E-Commerce (Maxab)
(# Cos: 160 | $235M)
Horizontal (WaystoCap)
(# Cos: 27 | $7.2M)
E-Distributor (Omnibiz)
(# Cos: 5 | $4.2M)
Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$3.2M( -- )
3( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$4.2M
2
-
5
0
Omnibiz
(2010, $4.0M)
Chari
(2014, $240K)
Zuba Online Mall
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

55. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
Correspondent Banking Solutions -
Africa
47
55
Back to index
Banking Tech (Kuda)
(# Cos: 322 | $578M)
Correspondent Banking (Nomanini)
(# Cos: 30 | $10.6M)
Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$3.1M( -- )
4( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$10.6M
12
-
30
1
Nomanini
(2011, $7.5M)
Khazna Tanda
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Dayra (2020)
$3.0M - Seed - Mar 2021
Nomanini (2011)
$1.5M - Series B - Feb 2021
Union54 (2020)
$125K - Seed - Sep 2021
Tanda (2017)
Undisclosed - Seed - Apr 2021

56. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
Online Courses for Universities - Africa
48
56
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Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$2.9M( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$2.9M
2
-
8
0
Higher Education Tech (EduTech)
(# Cos: 173 | $9.1M)
B2B2C Learning Solutions (OwnLabs)
(# Cos: 13 | $2.9M)
Online Courses (CIBN e-learning)
(# Cos: 10 | $2.9M)
Diversified (The Student Hub)
(# Cos: 8 | $2.9M)
The Student Hub
(2015, $2.9M)
CIBN e-learning FutureLearn
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
The Student Hub (2015)
$2.9M - Seed - Nov 2020

57. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
Releaf (2017)
$2.7M - Seed - Sep 2021
Releaf (2017)
Undisclosed - Seed - Nov 2020
Post Harvest Traceability - Africa
49
57
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Crop Tech (Aerobotics)
(# Cos: 524 | $285M)
Post Harvest Management (ColdHubs)
(# Cos: 17 | $2.7M)
Traceability (Releaf)
(# Cos: 10 | $2.7M)
Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$2.7M( -- )
2( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$2.7M
3
-
10
0
Releaf
(2017, $2.7M)
Annona QualiTrace
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

58. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
Online Professional Learning Courses -
Africa
50
58
Back to index
Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$2.5M(▲3746%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$8.3M
12
-
106
1
Continued Learning (African Management Initiative)
(# Cos: 280 | $15.4M)
Professional (Etudesk)
(# Cos: 207 | $15.4M)
Online Learning (Hyperion Development)
(# Cos: 205 | $15.4M)
Multi Disciplinary (GetSmarter)
(# Cos: 115 | $8.5M)
Online Courses (Eneza Education)
(# Cos: 106 | $8.3M)
Eneza Education
(2011, $725K)
GetSmarter
(2008, $5.0M)
Etudesk
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
iX (2013)
$2.5M - Series A - May 2021

59. Africa Tech - Top Business Models Report Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
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