The Tracxn monthly report for April 2021 provides an overview of the Africa tech landscape, detailing investment trends, funding rounds, new investors, and notable companies. Key highlights include major funding rounds in cities like Cairo and Lagos, as well as a total of $6.7 billion in funding over the past year across 15,587 companies. The report also identifies emerging business models and includes recent acquisitions and news relevant to the African technology sector.

1. TRACXN MONTHLY REPORT
APRIL 2021
AFRICA TECH

2. Africa Tech - April 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Contents
2
Africa Tech Snapshot 3
Investment Snapshot 4
List of Funding Rounds 5
New Investors 7
Top Funded Business Models - last 1 year 8
New Analyst Picks 9
Acquisitions 11
Recent News 12

3. Africa Tech - April 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Africa Tech Snapshot – April 2021
Africa Tech: Snapshot – April 2021
Note : "Investors" refers to "Institutional Investors" only
3
$38.1M
5
Overall Geo Stats
10
5
30
15
20
Funding Rounds $ Invested Analyst Picks
AppZone Group
Upgraded to
MINICORN
New Investors
Persistent Energy
Capital
EQUILIBRIA CAPITAL
Series A+ rounds Active Investors IPOs Acquisitions
MEVAC#@
Links Microfinance
Bank#@
Top Funding Rounds Top Markets Top Investors Top Cities
Monthly Leader Board
Cairo
(4 Rounds, $15.5M)
Lagos
(3 Rounds, $10M)
Cape Town
(3 Rounds, $3.4M)
Nairobi
(3 Rounds, $1.4M)
$15M - Series A
Paymob (2015, Cairo, $18.5M)
$10M - Series A
AppZone Group (2008, Lagos, $15M)
$3.5M - Seed
Okra (2019, Lekki, $4.5M)
$2.3M - Seed
Numida (2015, Kampala, $2.3M)
Launch Africa
(4 Investments)
A15
(2 Investments)
Century Oak Capital
(2 Investments)
FMO
(1 Investments)
Payments
Paymob
Banking Tech
AppZone Group
Alternative Lending
Numida
Field Force Automation
Skynamo
Market Size
Companies Covered 15,587
Funded Companies 2,120
Total Funding $6.7B
Funding in last 12 months $716M
Top Exits
IPOs 37
Acquisitions 230
Company Stage
Unicorns -
Soonicorns 11
Minicorns 93
Editor Picks 799
Series A+ 290
Series C+ 79
Acqui-Hires 4
Deadpooled 1,752
Top Cities
Cape Town (259 Rounds, $696M)
Lagos (248 Rounds, $1.2B)
Top Investors
Y Combinator (40 Investments)
Flat6Labs (39 Investments)

4. Africa Tech - April 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Investment Snapshot
Investment Snapshot of Africa Tech as of April 2021
Africa Tech: Investment Snapshot
4
# Rounds
$ Funding
Investment Trend Top Investments (April 2021)*
Paymob
(2015, Cairo, $18.5M)
$15.0M - Series A Global Ventures
AppZone Group
(2008, Lagos, $15.0M)
$10.0M - Series A CardinalStone
Okra
(2019, Lekki, $4.5M)
$3.5M - Seed Susa Ventures
Numida
(2015, Kampala, $2.3M)
$2.3M - Seed MFS Africa
Skynamo
(2012, Cape Town, $32.1M)
$2.0M - Series A
The Sun Exchange
(2014, Cape Town, $8.3M)
$1.4M - Series A
Kidato
(2021, Nairobi, $1.5M)
$1.4M - Seed Launch Africa
Kemitt
(2018, Giza, $1.0M)
$1.0M - Seed
Alpha Direct
(2014, Gaborone, $2.5M)
$600K - Seed Launch Africa
Appetito
(2020, Cairo, $450K)
$450K - Seed Jedar Capital
Kezakoo
(2013, Casablanca, $221K)
$221K - Seed
*Shows only the lead Investors

5. Africa Tech - April 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
List of Funding Rounds (1/2)
List of Funding Rounds in Africa Tech in April 2021
Africa Tech: List of Funding Rounds
Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+), PE
5
EARLY STAGE
$1.4M - Series A
The Sun Exchange (2014, Cape Town, $8.3M)
Decentralized crowdsourcing-based solar project
investment platform
EARLY STAGE
$2.0M - Series A
Skynamo (2012, Cape Town, $32.1M)
Field sales management software
EARLY STAGE
$10.0M - Series A
AppZone Group (2008, Lagos, $15.0M)
Banking & payment solution provider
CardinalStone, Lateral Capital, Itanna, Constant Capital
Partners, V8 Capital Partners
EARLY STAGE
$15.0M - Series A
Paymob (2015, Cairo, $18.5M)
Payment processing solutions for businesses
Global Ventures, A15, FMO
EARLY STAGE
Series A
Peach Payments (2013, Cape Town, $1.0M)
Online payments in emerging markets
Umkhathi Wethu, Allan Gray, Launch Africa
SEED STAGE
$200.0K - Seed
BezoMoney (2019, Accra, $300.0K)
Online savings platform for individuals
GOODsoil
SEED STAGE
$221.0K - Seed
Kezakoo (2013, Casablanca, $221.0K)
Online platform providing learning solutions for high
school students
SEED STAGE
$450.0K - Seed
Appetito (2020, Cairo, $450.0K)
Online platform offering multi-category grocery
products
Jedar Capital, Ahmed Al Alola
SEED STAGE
$600.0K - Seed
Alpha Direct (2014, Gaborone, $2.5M)
App-based P&C insurance comparison platform for
individuals and businesses
Launch Africa, Century Oak Capital
SEED STAGE
$1.0M - Seed
Kemitt (2018, Giza, $1.0M)
Online personalized shopping platform for home
improvement products
SEED STAGE
$1.4M - Seed
Kidato (2021, Nairobi, $1.5M)
Online platform providing academic and after-school
classes for kids
Launch Africa, Graph Ventures, Century Oak Capital

6. Africa Tech - April 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
List of Funding Rounds (2/2)
List of Funding Rounds in Africa Tech in April 2021
Africa Tech: List of Funding Rounds
Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+), PE
6
SEED STAGE
$2.3M - Seed
Numida (2015, Kampala, $2.3M)
Online marketplace for working capital loans
MFS Africa, Segal Family Foundation, Draper Richards
Kaplan Foundation, EQUILIBRIA CAPITAL
SEED STAGE
$3.5M - Seed
Okra (2019, Lekki, $4.5M)
Open banking API solutions
Susa Ventures, TLcom Capital Partners, Accenture
SEED STAGE
Seed
Kashat (2019, Cairo)
App for microloans
Cairo Angels
SEED STAGE
Seed
Pricepally (2019, Lagos)
Online platform offering groceries in bulk
SAMURAI INCUBATE AFRICA, Launch Africa
SEED STAGE
Seed
Tanda (2017, Nairobi)
Correspondent banking services
DFS Lab, HAVAIC, Zedcrest, Victor Asemota
SEED STAGE
Seed
Ecobodaa (2020, Nairobi)
Manufacturer of electric motorbike taxis
Persistent Energy Capital
SEED STAGE
Seed
Laverie (2018, Cairo)
Online laundry & dry cleaning service provider
A15
SEED STAGE
Seed
Sendmarc (2018, Rosebank)
Solutions to prevent e-mail phishing
Kalon Venture Partners
SEED STAGE
Seed
Taeillo (2015, Lagos)
Internet-first brand of home furniture
CcHUB

7. Africa Tech - April 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
New Investors
List of New Investors in Africa Tech in April 2021
Africa Tech: List of New Investors
7
Investor Company Info Round Amount Round Name
Persistent Energy Capital
8 portfolio companies | Early-stage centric energy sector focused venture capital
firm investing primarily in Europe and Africa
Ecobodaa
Manufacturer of electric motorbike taxis
Undisclosed Seed
EQUILIBRIA CAPITAL
1 portfolio companies | HOME | EQUILIBRIA CAPITAL
Numida
Online marketplace for working capital loans
$2.30M Seed
Susa Ventures
81 portfolio companies | VC firm that does investment in early stage companies
in the US
Okra
Open banking API solutions
$3.50M Seed
Jedar Capital
1 portfolio companies | Venture capital firm investing in seed to series A stage
startups
Appetito
Online platform offering multi-category grocery products
$450K Seed
Constant Capital Partners
1 portfolio companies | Regional investment bank
AppZone Group
Banking & payment solution provider
$10.00M Series A
Accenture
52 portfolio companies | Provider of IT service suite solutions
Okra
Open banking API solutions
$3.50M Seed
Segal Family Foundation
2 portfolio companies | Family foundation operating across Sub Saharan
countries
Numida
Online marketplace for working capital loans
$2.30M Seed
Launch Africa
5 portfolio companies | Venture capital fund focused on tech startups
Pricepally
Online platform offering groceries in bulk
Undisclosed Seed
Century Oak Capital
2 portfolio companies | Venture capital firm investing in emerging sectors
Alpha Direct
App-based P&C insurance comparison platform for individuals and
businesses
$600K Seed
Graph Ventures
28 portfolio companies | Tech-focused early stage VC firm investing primarily in
the US, Latin America and Europe
Kidato
Online platform providing academic and after-school classes for kids
$1.40M Seed

8. Africa Tech - April 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Top Funded Business Models - last 1 year
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1
year.
8
Rank Business Model $ Funding # Rounds Top Funding Round
1 ▲18 Digital Native Retail Banks $145M 3 TymeBank | $110M | Series B
2 -- KYC Solutions for Banks $110M 1 TYME | $110M | Series B
3 -- KYC Solutions $110M 1 TYME | $110M | Series B
4 ▼-1
Alternative Lending > Online Lenders > Diversified >
Marketplace
$53.0M 2 Jumo | $52.0M | Series C
5 ▼-3 Mobile Banking Software $52.0M 1 Jumo | $52.0M | Series C
6 ▼-2
Road Transport Tech > Mass Transit > Shuttle >
Aggregator
$20.4M 3 Swvl | $20.0M | Series C
7 -- ERP for SMBs $16.7M 1 Zagace | $16.7M | Seed
8 ▲9 Crypto Exchanges $14.0M 3 ACDX | $10.0M | Seed
9 -- Crop Tech > Farm Equipment > Smart Solar Water Pumps $14.0M 1 SunCulture | $14.0M | Series A
10 --
Crop Tech > Content Platforms > Farming Advice >
Farmer to Farmer
$11.0M 1 Wefarm | $11.0M | Series A

9. Africa Tech - April 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
New Analyst Picks (1/2)
Interesting Companies identified by Analysts in Africa Tech in April 2021
Africa Tech: Analyst Picks
9
Upgraded to MINICORN
AppZone Group (2008, Lagos, $10.0M, Series A)
Banking & payment solution provider
V8 Capital Partners, Constant Capital Partners, Lateral
Capital and 4 other Investors
Upgraded to MINICORN
Okra (2019, Lekki, $1.0M, Seed)
Open banking API solutions
TLcom Capital Partners,Accenture,Susa Venturesand
Added to Editor's Pick
Kandua (2014, Johannesburg, Undisclosed, Seed)
Online lead generation platform for home
improvement services
Seed Engine,BFA Globaland
Added to Editor's Pick
Kidato (2021, Nairobi, $125K, Seed)
Online platform providing academic and after-school
classes for kids
Launch Africa, Graph Ventures, Y Combinator and 1
other Investors
Added to Editor's Pick
Cartrack (2016, Rosebank, Unfunded)
Provider of GPS and cloud-based vehicle tracking
systems
Added to Editor's Pick
Impulse Biomedical (2018, Cape Town,
Undisclosed, Seed)
Developer of a device for adrenaline auto-injection
Futuregrowthand
Added to Editor's Pick
Appetito (2020, Cairo, $450K, Seed)
Online platform offering multi-category grocery
products
Ahmed Al Alola,Jedar Capitaland
Added to Editor's Pick
Kezakoo (2013, Casablanca, $221K, Seed)
Online platform providing learning solutions for high
school students
Added to Editor's Pick
Spleet (2017, Lagos, Unfunded)
Provider of an online home rental listing platform for
residential spaces
Added to Editor's Pick
ArvoFinance (2018, Lagos, Unfunded)
Online P2P lending platform for personal loans

10. Africa Tech - April 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
New Analyst Picks (2/2)
Interesting Companies identified by Analysts in Africa Tech in April 2021
Africa Tech: Analyst Picks
10
Added to Editor's Pick
iTrack (2020, Nairobi, Unfunded)
Provider of GPS-based vehicle tracking systems
Added to Editor's Pick
Eclectics (2007, Nairobi, Unfunded)
Banking software suite for banks & financial
institutions
Added to Editor's Pick
iPanel (2018, Cairo, Unfunded)
Provider of 3D reinforced concrete panels for
construction
Added to Editor's Pick
GPS TRACKER (2020, Casablanca, Unfunded)
Provider of vehicle fleet tracking solution
Added to Editor's Pick
RealMax (2020, Lagos, Unfunded)
Cloud-based diversified real estate software for real
estate professionals

11. Africa Tech - April 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Acquisitions
List of Acquisitions in Africa Tech in April 2021
Africa Tech: Acquisitions
11
Acq. Date Company Acquirer Deal Size
02 Apr 2021
MEVAC(2011, Cairo)
Developer of vaccines for livestock, fish, and poultry animals
Kemin
12 Apr 2021
Links Microfinance Bank(2020, Lagos)
Online marketplace for consumer loans
DLM Capital Group
14 Apr 2021
Mangwee(2018, Lusaka)
Wallet-based payment solutions
ZeePay
26 Apr 2021
Dragonfly Aerospace(2017, Stellenbosch)
Manufacturer of imaging systems for satellites
28 Apr 2021
WayaWaya(2012, Nairobi)
Mobile financial solution for payments.
Ajua

12. Africa Tech - April 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Recent News (1/2)
Recent News in Africa Tech in April 2021
Africa Tech:News
12
Exit News
.
● Zeepay Ghana acquires Mangwee Mobile Money in Zambia Finextra
.
● Max Polyakov acquires South Africa’s Dragonfly satellite maker PageOne
.
● Inside an African startup acquisition with Parcelninja’s Justin Drennan Disrupt
Africa
.
● Warsaw’s bourse: In for a penny, in for a Poundland Emerging Europe
.
● DLM Capital acquires Links mfb The Nation
.
● Kemin acquires majority share of animal vaccine company Feed Strategy
.
People News
.
● Dimension Data appoints Mokou as new MD for Southern Africa Telecompaper
.
● Zappi Hires Alice Saje to Lead Global Operations Team as EVP of Operations
MarTech Series
.
● Cloudmargin: Appoints Helen Nicol Head Of Product FinTechInShorts
.
● CloudMargin Appoints Helen Nicol Head of Product AiThority
● CloudMargin appoints Lombard Risk executive to oversee platform
developmentThe TRADE

13. Africa Tech - April 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Explore more on Tracxn
Explore more about Africa Tech on Tracxn Platform
Africa Tech: Explore more on Tracxn Platform
13
Companies
Recent Companies Covered
Funded Companies
Editor's Pick
Soonicorn Club
SaaS Companies in Africa
AI Companies in Africa
Fintech Companies Africa
Consumer Digital in Africa
Company Due Diligence
Detailed profile of
Competitors of
Cap Tables of
Investment Activity
Recent Investments
Investment Trend of last 10 years
Mega Investments Rounds
Investors
Most Active Investors
Most Active Angel Investors
Unicorn Investors
Exits
IPO'd Companies
Recent Acquisitions
Most Active Acquirers
Recent Acquihires
News & Events
Recent News
News on People
News on Unicorns
Upcoming Events
Library
Recent Reports
Tracxn Blog
Global Sector Landscape

14. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Any and all information either accessed from the website www.tracxn.com or having otherwise originated from Tracxn Technologies Private Limited including but not limited to the
information contained herein ("Data") is the sole property of Tracxn Technologies Private Limited (hereinafter "Tracxn"). You shall not recirculate, distribute, transmit, publish, or sell the
Data or any portion thereof in any form or by any means, either for commercial or non-commercial use, or permit any third party to use or distribute the Data or any portion thereof; to any
other party, except with the prior written consent of Tracxn. You may however incorporate insubstantial portions, extracts, abstracts or summaries from the Data into analysis, presentations
or tools for your customers or for your internal use, so long as Tracxn is clearly and visibly identified as the source of information.
For further information please refer to our Terms of Use at www.tracxn.com