Tracxn - Top Business Models - Africa Tech - Apr 2022

TRACXN TOP BUSINESS MODELS REPORT
April 14, 2022
AFRICA TECH

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

Africa Tech - Funding in last 1 year
3
Payments $1.4B
Sports Tech $298M
Internet First Insurance Platforms $102M
Y-o-Y Funding
Top Investors by Funding Rounds
Seed
Stage
Y Combinator
Launch Africa
Future Africa
35
20
13
Early
Stage
Endeavor
Algebra Ventures
Flourish
10
7
6
Late
Stage
SoftBank Ventures Asia
Endeavor
Source Code Capital
2
2
2
Funding by Geography
Top Feeds by $ Funding
Top Funding Rounds
$ Funding # Rounds
OPay
(2018, )
$400M - Series C
OPay
(2018, )
$400M - Series C
BetKing
(2018, )
$293M - Series C
Jumo
(2015, )
$120M - Series D
MNT Halan
(2017, )
$120M - Series A
TradeDepot
(2015, )
$110M - Series B
MFS Africa
(2009, )
$100M - Series C
PalmPay
(2019, )
$100M - Series A
Yoco
(2015, )
$83.0M - Series C
Yoco
(2013, )
$83.0M - Series C
TymeBank
(2012, )
$70.0M - Series B
TYME
(2012, )
$70.0M - Series B
Lagos (28%)
Ikeja (22%)
Cairo (10%)
Cape Town (8%)
Johannesburg (8%)
Others (25%)

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▲53 Digital Wallets $678M 13 OPay | $400M | Series C Link
2▼4 Retail Banking $125M 2 TymeBank | $70.0M | Series B Link
3▲7 Retail Stores Informal Distribution $124M 6 TradeDepot | $110M | Series B Link
4-- Internet First Lenders $120M 1 MNT Halan | $120M | Series A Link
5▼2 Internet First Loan Marketplace $120M 1 Jumo | $120M | Series D Link
6-- Retail POS Solutions $91.1M 3 Yoco | $83.0M | Series C Link
7-- Internet First Personal Loans $84.0M 2 FairMoney | $42.0M | Series B Link
8-- Internet First Health Insurers $80.0M 2 Reliance Hea.. | $40.0M | Series B Link
9▼9 Farming as a Service $59.1M 3 Apollo Agric.. | $40.0M | Series B Link
10▲77 B2B Grocery Marketplace $58.1M 5 Twiga Foods | $50.0M | Series C Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

5
11▲91 Online B2B Grocery Distributor $57.1M 5 Maxab | $40.0M | Series A Link
12▲46 Internet First Point of Sale Financing $56.8M 5 Khazna | $38.0M | Series A Link
13<> 0 Cryptocurrency Trading Platforms $56.2M 3 VALR | $50.0M | Series B Link
14▲50 Field Sales Software $44.1M 4 MarketForce360 | $40.0M | Series A Link
15▲45 Truck Booking Marketplaces $37.7M 6 Trella | $30.0M | Series A Link
16▲19 Hyperlocal Delivery $33.0M 10 MAX | $31.0M | Series B Link
17▼4 Open Banking API Providers $31.7M 5 Stitch | $22.6M | Series A Link
18-- Internet First Consumer Loans $30.0M 2 Asaak | $30.0M | Seed Link
19-- Genomic Data Analysis Platforms $28.5M 3 54gene | $25.0M | Series B Link
20<> 0 Community Based Shopping Platforms $26.1M 3 Brimore | $25.0M | Series A Link

6
21-- Rewards and Cashback Platforms $25.0M 2 Lucky | $25.0M | Series A Link
22▼22 Online Shuttle Aggregators $23.1M 3 Swvl | $21.5M | Series D Link
23-- Datacenter Colocation $20.0M 1 PAIX | $20.0M | Series B Link
24-- B2B Remittance $20.0M 1 AZA | $20.0M | Series B Link
25▼17 Food Ordering Platforms $15.4M 6 elmenus | $10.0M | Series B Link
26-- Home Furnishing Products Marketplaces $15.0M 1 Homzmart | $15.0M | Series A Link
27▲8 Credit Card Based Point of Sale Financing $15.0M 1 Credpal | $15.0M | Series A Link
28-- Trucking Transportation Management System $14.6M 3 Naqla | $10.5M | Seed Link
29-- B2B Hyperlocal Delivery $13.7M 3 Yalla Fel Sekka | $7.0M | Series A Link
30▼16 B2C Used Cars Marketplaces $13.1M 1 Automarket | $13.1M | Seed Link

7
31-- Point of Sale Financing Marketplaces $12.0M 1 Lipa Later | $12.0M | Seed Link
32▼12
Off Grid Distributed Solar Energy Resource
Management Systems
$11.7M 1 Baobab + | $11.7M | Series A Link
33-- Internet First Pay Per Mile Insurers $11.1M 2 Naked | $11.1M | Series A Link
34▲37 B2B Horizontal Marketplaces $10.4M 5 PBP | $5.0M | Seed Link
35-- HRMS for Enterprises $10.0M 1 SeamlessHR | $10.0M | Series A Link
36▼18 Healthcare Booking Platforms $7.7M 4 Rocket Health | $5.0M | Series A Link
37-- B2B Processed Food Products Marketplace $7.7M 2 Cartona | $4.5M | Seed Link
38▼38 White Label Prepaid Cards Solutions $6.8M 3 _$udo | $3.7M | Seed Link
39▲39
Internet First Banks for Businesses with Partner
Bank's License
$5.5M 2 Prospa | $3.8M | Seed Link
40-- Mobile First Coalition Loyalty $5.3M 1 Thank U Cash | $5.3M | Seed Link

8
41▼22 On Demand Pay $5.1M 3 Floatpays | $4.0M | Seed Link
42-- E-commerce Delivery Services $5.0M 2 Milezmore | $5.0M | Seed Link

Recent Funding Rounds
OPay (2018)
$400M - Series C - Aug 2021
MNT Halan (2017)
$120M - Series A - Aug 2021
PalmPay (2019)
Khazna (2019)
$38.0M - Series A - Mar 2022
ZeePay (2014)
$7.9M - Series A - Jun 2021
Thank U Cash (2018)
$5.3M - Seed - Jan 2022
telda (2019)
$5.0M - Seed - May 2021
View all 13 Funding Rounds on Tracxn Platform
Digital Wallets - Africa
01
9
Back to index
Payments (Interswitch)
(# Cos: 1164 | $2.2B)
Consumer Payments (OPay)
(# Cos: 486 | $1.0B)
Wallets (Paga)
(# Cos: 225 | $935M)
Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$678M (▲ >10K%)
13(▲160%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
4
$935M
44
-
225
7
Paga
(2009, $35.0M)
OPay
(2018, $570M)
telda
(2019, $5.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

Retail Banking - Africa
02
10
Back to index
Taxonomy
Key Stats
Africa Tech
$125M (▼13.8%)
2(▼33.3%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$285M
2
-
3
1
Banking Tech (AppZone Group)
(# Cos: 363 | $895M)
Internet First Banks (Prospa)
(# Cos: 75 | $309M)
Digital Native Banks (Kuda)
(# Cos: 15 | $298M)
Retail Banking (TymeBank)
(# Cos: 3 | $285M)
TymeBank
(2012, $193M)
Kuda
(2017, $91.6M)
Stellas
TymeBank (2012)
$70.0M - Series B - Dec 2021
Kuda (2017)
$55.0M - Series B - Aug 2021

Retail Stores Informal Distribution -
Africa
03
11
Back to index
In Store Retail Tech (Yoco)
(# Cos: 187 | $307M)
Informal Distribution (TradeDepot)
(# Cos: 4 | $190M)
Taxonomy
Key Stats
Africa Tech
$124M (▲697%)
6(▲50%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$190M
4
-
4
3
TradeDepot
(2015, $123M)
MarketForce360
(2017, $42.6M)
Alerzo
(2018, $20.0M)
TradeDepot (2015)
$110M - Series B - Nov 2021
MarketForce360 (2017)
$40.0M - Series A - Feb 2022
$100K - Series A - Aug 2021
$2.0M - Series A - Jul 2021
Alerzo (2018)
$10.5M - Series A - Aug 2021
Omnibiz (2010)
$3.0M - Seed - Aug 2021

Internet First Lenders - Africa
04
12
Back to index
Taxonomy
Key Stats
Africa Tech
$120M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$120M
3
-
31
1
Alternative Lending (Kopo Kopo)
(# Cos: 544 | $848M)
Online Lenders (Asaak)
(# Cos: 447 | $846M)
Diversified (Jumo)
(# Cos: 72 | $426M)
Direct Lender (MNT Halan)
(# Cos: 31 | $120M)
MNT Halan
(2017, $120M)
Kava WesBank
MNT Halan (2017)

Internet First Loan Marketplace - Africa
05
13
Back to index
Taxonomy
Key Stats
Africa Tech
$120M (▲126%)
1(▼50%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$306M
7
-
41
1
Alternative Lending (Kopo Kopo)
(# Cos: 544 | $848M)
Online Lenders (Asaak)
(# Cos: 447 | $846M)
Diversified (MNT Halan)
(# Cos: 72 | $426M)
Marketplace (Jumo)
(# Cos: 41 | $306M)
Jumo
(2015, $305M)
Lupiya
(2016, $1.0M)
Specta
Jumo (2015)
$120M - Series D - Nov 2021

Retail POS Solutions - Africa
06
14
Back to index
In Store Retail Tech (TradeDepot)
(# Cos: 187 | $307M)
POS (Yoco)
(# Cos: 101 | $117M)
Taxonomy
Key Stats
Africa Tech
$91.1M ( -- )
3( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
7
$117M
15
-
101
1
Yoco
(2013, $104M)
POSRocket
(2016, $7.2M)
Flexpay
(2014, $20.0K)
Yoco (2013)
$83.0M - Series C - Jul 2021
POSRocket (2016)
$5.0M - Series A - Aug 2021
Tall Order Pos (2010)
$3.1M - Series A - Jan 2022

Internet First Personal Loans - Africa
07
15
Back to index
Taxonomy
Key Stats
Africa Tech
$84.0M ( -- )
2( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$110M
5
-
39
2
Alternative Lending (Jumo)
(# Cos: 544 | $848M)
Online Lenders (Kopo Kopo)
(# Cos: 447 | $846M)
Consumer Loans (Asaak)
(# Cos: 284 | $354M)
Personal Loans (INuka Pap)
(# Cos: 86 | $111M)
Direct Lender (FairMoney)
(# Cos: 39 | $110M)
FairMoney
(2018, $54.5M)
FairMoney
(2017, $54.5M)
INuka Pap
(2015, $1.0M)
FairMoney (2017)
$42.0M - Series B - Jul 2021
$42.0M - Series B - Jul 2021

Reliance Health (2020)
$40.0M - Series B - Feb 2022
RelianceHMO (2017)
$40.0M - Series B - Feb 2022
Internet First Health Insurers - Africa
08
16
Back to index
Internet First Insurance Platforms (FarmCrowdy)
(# Cos: 145 | $799M)
Internet First Insurers (Naked)
(# Cos: 56 | $119M)
Health (RelianceHMO)
(# Cos: 10 | $97.9M)
Taxonomy
Key Stats
Africa Tech
$80.0M ( -- )
2( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$97.9M
6
-
10
4
RelianceHMO
(2017, $48.0M)
Turaco
(2019, $6.6M)
Jamii
(2016, $2.1M)

Apollo Agriculture (2016)
$40.0M - Series B - Feb 2022
Agricorp (2018)
$17.5M - Series A - Sep 2021
Green Gold Farms (2017)
$1.6M - Seed - Jul 2021
Farming as a Service - Africa
09
17
Back to index
Crop Tech (Aerobotics)
(# Cos: 578 | $349M)
Farming as a Service (Komaza)
(# Cos: 62 | $138M)
Tech Enabled Services (Apollo
Agriculture)
(# Cos: 51 | $136M)
Taxonomy
Key Stats
Africa Tech
$59.1M (▲57.3%)
3( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$136M
11
-
51
3
Apollo Agriculture
(2016, $57.8M)
Komaza
(2006, $37.9M)
Babban Gona
(2012, $20.0M)

B2B Grocery Marketplace - Africa
10
18
Back to index
Taxonomy
Key Stats
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: 364 | $309M)
B2B Ecommerce (JABU)
(# Cos: 63 | $187M)
Multi-Category (Maxab)
(# Cos: 15 | $182M)
Marketplace (Twiga Foods)
(# Cos: 9 | $119M)
Twiga Foods
(2014, $110M)
Vendease
(2017, $3.3M)
Food Supply
Twiga Foods (2014)
$50.0M - Series C - Nov 2021
Cartona (2019)
$4.5M - Seed - Sep 2021
Vendease (2017)
$3.2M - Seed - Oct 2021
$125K - Seed - Jan 2021
Kamioun (2020)
$400K - Seed - Dec 2021

Online B2B Grocery Distributor - Africa
11
19
Back to index
Taxonomy
Key Stats
Africa Tech
$57.1M (▲ >10K%)
5(▲150%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$63.4M
5
-
6
1
Online Grocery (Breadfast)
(# Cos: 364 | $309M)
B2B Ecommerce (JABU)
(# Cos: 63 | $187M)
Multi-Category (Twiga Foods)
(# Cos: 15 | $182M)
E-Distributor (Maxab)
(# Cos: 6 | $63.4M)
Maxab
(2018, $61.2M)
Kilimo Fresh
(2018, $50.0K)
Talabeyah
(2020, $1.1M)
Maxab (2018)
$15.0M - Series A - Aug 2021
$40.0M - Series A - Jul 2021
Talabeyah (2020)
$1.1M - Seed - Oct 2021
One Order (2022)
$1.0M - Seed - Feb 2022
Suplias (2019)
Undisclosed - Seed - Jul 2021

Internet First Point of Sale Financing -
Africa
12
20
Back to index
Taxonomy
Key Stats
Africa Tech
$56.8M (▲8635%)
5(▲150%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
2
$83.2M
9
-
22
3
(# Cos: 544 | $848M)
(# Cos: 447 | $846M)
Consumer Loans (Asaak)
(# Cos: 284 | $354M)
Point of Sale Financing (Lipa Later)
(# Cos: 31 | $85.2M)
Direct Lender (Khazna)
(# Cos: 22 | $83.2M)
Khazna
(2019, $47.0M)
Lipa Later
(2015, $12.0M)
Mobicred
Khazna (2019)
$38.0M - Series A - Mar 2022
Credpal (2017)
$15.0M - Series A - Mar 2022
Lipa Later (2015)
$12.0M - Seed - Jan 2022
Sympl (2021)
$6.0M - Seed - Nov 2021
Klump (2021)
$780K - Seed - Mar 2022

Cryptocurrency Trading Platforms -
Africa
13
21
Back to index
Taxonomy
Key Stats
Africa Tech
$56.2M (▲495%)
3(▲50%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$87.3M
8
-
103
4
Cryptocurrencies (Xend Finance)
(# Cos: 674 | $151M)
Financial Services (BitPesa)
(# Cos: 571 | $145M)
Investment Industry (Busha)
(# Cos: 456 | $118M)
Online Trading Platforms (VALR)
(# Cos: 118 | $87.3M)
Regular Trading (KuCoin)
(# Cos: 103 | $87.3M)
KuCoin
(2017, $20.0M)
VALR
(2018, $55.0M)
Busha
(2018, $4.2M)
VALR (2018)
$50.0M - Series B - Mar 2022
Busha (2018)
$4.2M - Seed - Nov 2021
Ejara (2019)
$2.0M - Seed - Oct 2021

Field Sales Software - Africa
14
22
Back to index
Sales Force Automation (MarketForce360)
(# Cos: 146 | $79.6M)
Field Sales Software (Skynamo)
(# Cos: 5 | $74.7M)
Taxonomy
Key Stats
Africa Tech
$44.1M (▲8722%)
4(▲100%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$74.7M
3
-
5
2
Skynamo
(2012, $32.1M)
MarketForce360
(2017, $42.6M)
Morpheus Commerce
MarketForce360 (2017)
$40.0M - Series A - Feb 2022
$100K - Series A - Aug 2021
$2.0M - Series A - Jul 2021
Skynamo (2012)
$2.0M - Series A - Apr 2021

Truck Booking Marketplaces - Africa
15
23
Back to index
Taxonomy
Key Stats
Africa Tech
$37.7M (▲7438%)
6( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$115M
13
-
59
3
Logistics Tech (Sendy)
(# Cos: 949 | $267M)
Freight (AmiTruck)
(# Cos: 469 | $130M)
Trucking (Trella)
(# Cos: 394 | $130M)
Heavy Cargo (Lori)
(# Cos: 89 | $115M)
Marketplace (Kobo360)
(# Cos: 59 | $115M)
Kobo360
(2016, $30.6M)
Lori
(2016, $44.9M)
Trella
(2018, $30.8M)
Trella (2018)
$30.0M - Series A - Jun 2021
AmiTruck (2018)
$4.8M - Seed - Jan 2022
ILLA (2017)
$2.0M - Seed - Oct 2021
Chargel (2019)
$750K - Seed - Mar 2022
Ridelink (2016)
$150K - Seed - Aug 2021
Kamtar (2018)
Undisclosed - Seed - Oct 2021

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)
$2.0M - Series A - Mar 2022
Lamma City (2019)
View all 10 Funding Rounds on Tracxn Platform
Hyperlocal Delivery - Africa
16
24
Back to index
Logistics Tech (Kobo360)
(# Cos: 949 | $267M)
Parcel (Bosta)
(# Cos: 353 | $94.2M)
Hyperlocal Delivery (MAX)
(# Cos: 228 | $92.6M)
Taxonomy
Key Stats
Africa Tech
$33.0M (▲1841%)
10(▲100%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
2
$92.6M
20
-
228
3
MAX
(2015, $39.6M)
Bosta
(2016, $8.1M)
Kwik
(2018, $4.0M)

Stitch (2019)
$22.6M - Series A - Jan 2022
$2.0M - Seed - Oct 2021
Okra (2019)
$3.5M - Seed - Apr 2021
OnePipe (2018)
$3.5M - Seed - Nov 2021
Dojah (2020)
$125K - Seed - Jan 2022
Open Banking API Providers - Africa
17
25
Back to index
Banking Tech (TymeBank)
(# Cos: 363 | $895M)
Open Banking (OnePipe)
(# Cos: 24 | $41.2M)
Banking APIs (Okra)
(# Cos: 13 | $38.7M)
Taxonomy
Key Stats
Africa Tech
$31.7M (▲433%)
5(▲25%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$38.7M
9
-
13
2
Okra
(2019, $4.5M)
OnePipe
(2018, $4.5M)
Stitch
(2019, $28.6M)

Internet First Consumer Loans - Africa
18
26
Back to index
Taxonomy
Key Stats
Africa Tech
$30.0M ( -- )
2( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
3
$58.0M
3
-
15
1
(# Cos: 544 | $848M)
(# Cos: 447 | $846M)
Consumer Loans (FairMoney)
(# Cos: 284 | $354M)
Diversified (Tigo)
(# Cos: 40 | $58.0M)
Direct Lender (Asaak)
(# Cos: 15 | $58.0M)
Asaak
(2016, $30.0M)
Tigo Aella Credit
(2015, $3.0M)
Asaak (2016)
$30.0M - Seed - Jan 2022

54gene (2019)
$25.0M - Series B - Sep 2021
IndyGeneUS (2020)
$2.0M - Seed - Dec 2021
$1.5M - Seed - Nov 2021
Genomic Data Analysis Platforms -
Africa
19
27
Back to index
Genomics (3X4 Genetics)
(# Cos: 59 | $51.5M)
Genome Informatics (IndyGeneUS)
(# Cos: 4 | $48.5M)
Integrative Bioinformatics Platforms
(54gene)
(# Cos: 3 | $48.5M)
Taxonomy
Key Stats
Africa Tech
$28.5M ( -- )
3( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$48.5M
2
-
3
1
54gene
(2019, $45.0M)
IndyGeneUS
(2020, $3.5M)
CoCoNUT

Brimore (2016)
$25.0M - Series A - Jan 2022
$999K - Seed - Sep 2021
BeU (2019)
$125K - Seed - Jan 2022
Community Based Shopping Platforms -
Africa
20
28
Back to index
Social Commerce (Tendo)
(# Cos: 13 | $30.6M)
Community Based Shopping Platforms (BeU)
(# Cos: 5 | $30.4M)
Diversified (Brimore)
(# Cos: 4 | $30.4M)
Taxonomy
Key Stats
Africa Tech
$26.1M (▲646%)
3(▲200%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$30.4M
2
-
4
0
Brimore
(2016, $30.3M)
BeU
(2019, $125K)
Weqasa

Lucky (2019)
$25.0M - Series A - Mar 2022
WaffarX (2018)
Undisclosed - Seed - Dec 2021
Rewards and Cashback Platforms - Africa
21
29
Back to index
Coupons and Deals (DealDey)
(# Cos: 54 | $55.0M)
Rewards & Cashback (SnapNSave)
(# Cos: 18 | $47.0M)
Multi-Channel (Lucky)
(# Cos: 5 | $45.0M)
Taxonomy
Key Stats
Africa Tech
$25.0M ( -- )
2( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$45.0M
2
-
5
1
Lucky
(2019, $45.0M)
WaffarX Token Hunt

Online Shuttle Aggregators - Africa
22
30
Back to index
Taxonomy
Key Stats
Africa Tech
$23.1M (▲15.5%)
3(▲200%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$124M
4
-
10
1
Road Transport Tech (SafeBoda)
(# Cos: 871 | $281M)
Mass Transit (WhereIsMyTransport)
(# Cos: 111 | $163M)
Shuttle (Shuttlers)
(# Cos: 12 | $124M)
Aggregator (Swvl)
(# Cos: 10 | $124M)
Swvl
(2017, $122M)
Shuttlers
(2015, $1.6M)
LULA
Swvl (2017)
$21.5M - Series D - Feb 2022
Undisclosed - Series C - Aug 2021
Shuttlers (2015)
$1.6M - Seed - Nov 2021

PAIX (2016)
$20.0M - Series B - Feb 2022
Datacenter Colocation - Africa
23
31
Back to index
Data Center Infrastructure (Rack Centre)
(# Cos: 20 | $48.0M)
Data Center Providers (PAIX)
(# Cos: 12 | $48.0M)
Colocation (Teraco)
(# Cos: 10 | $48.0M)
Taxonomy
Key Stats
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

AZA (2015)
$20.0M - Series B - May 2021
B2B Remittance - Africa
24
32
Back to index
Digital Remittance (MFS Africa)
(# Cos: 138 | $167M)
Internet First Platforms (Wapi Pay)
(# Cos: 113 | $48.2M)
B2B Remittance (BitPesa)
(# Cos: 8 | $44.6M)
Taxonomy
Key Stats
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

Food Ordering Platforms - Africa
25
33
Back to index
Taxonomy
Key Stats
Africa Tech
$15.4M (▲118%)
6(▲50%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
3
$37.8M
12
-
123
2
Food Tech (Tupuca)
(# Cos: 274 | $40.6M)
Food Discovery and Ordering (MrD Food)
(# Cos: 181 | $38.5M)
Restaurant Aggregator (Otlob)
(# Cos: 151 | $37.8M)
Platform Delivered (elmenus)
(# Cos: 123 | $37.8M)
elmenus
(2011, $19.5M)
Otlob MrD Food
elmenus (2011)
Undisclosed - Series B - Feb 2022
$10.0M - Series B - Jul 2021
OrderIn (2013)
$4.7M - Series A - Jan 2022
Deliver Addis (2015)
$450K - Seed - Mar 2022
HeyFood (2021)
$125K - Seed - Jan 2022
Jise (2020)
$100K - Angel - Oct 2021

Home Furnishing Products Marketplaces
- Africa
26
34
Back to index
Taxonomy
Key Stats
Africa Tech
$15.0M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$17.2M
2
-
7
1
Home Improvements (AbegYa)
(# Cos: 97 | $44.6M)
B2C Commerce (Kemitt)
(# Cos: 81 | $44.6M)
Horizontal (Zando)
(# Cos: 37 | $44.0M)
Marketplace (Homzmart)
(# Cos: 7 | $17.2M)
Homzmart
(2018, $17.2M)
Showroom Westcape
Homzmart (2018)
$15.0M - Series A - May 2021

Credit Card Based Point of Sale
Financing - Africa
27
35
Back to index
Taxonomy
Key Stats
Africa Tech
$15.0M (▲900%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$16.5M
1
-
1
1
Payments (Interswitch)
(# Cos: 1164 | $2.2B)
Consumer Payments (Paga)
(# Cos: 486 | $1.0B)
Payment Cards (Noupia)
(# Cos: 57 | $16.5M)
Credit Cards (SwipeNG)
(# Cos: 8 | $16.5M)
General Purpose (O3 cards)
(# Cos: 5 | $16.5M)
Point of Sale Financing (Credpal)
(# Cos: 1 | $16.5M)
Credpal
(2017, $16.5M)
Credpal (2017)
$15.0M - Series A - Mar 2022

Trucking Transportation Management
System - Africa
28
36
Back to index
Taxonomy
Key Stats
Africa Tech
$14.6M ( -- )
3( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$14.6M
3
-
18
1
Logistics Tech (Sendy)
(# Cos: 949 | $267M)
Freight (Lori)
(# Cos: 469 | $130M)
Trucking (Kobo360)
(# Cos: 394 | $130M)
Technology Enablers (MiX Telematics)
(# Cos: 280 | $14.6M)
Transportation Management System
(Freterium)
(# Cos: 18 | $14.6M)
Freterium
(2017, $4.1M)
Naqla
(2016, $10.5M)
Wassal
Naqla (2016)
$10.5M - Seed - Mar 2022
Freterium (2017)
$4.0M - Seed - Dec 2021
$125K - Seed - Sep 2021

B2B Hyperlocal Delivery - Africa
29
37
Back to index
Taxonomy
Key Stats
Africa Tech
$13.7M ( -- )
3( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
2
$17.6M
6
-
25
1
(# Cos: 949 | $267M)
Parcel (Kwik)
(# Cos: 353 | $94.2M)
Hyperlocal Delivery (MAX)
(# Cos: 228 | $92.6M)
B2B (Bosta)
(# Cos: 25 | $17.6M)
Bosta
(2016, $8.1M)
Yalla Fel Sekka
(2019, $9.5M)
PicupSA
Yalla Fel Sekka (2019)
$7.0M - Series A - Feb 2022
Bosta (2016)
Undisclosed - Series B - Mar 2022
$6.7M - Series A - May 2021

B2C Used Cars Marketplaces - Africa
30
38
Back to index
Taxonomy
Key Stats
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: 414 | $37.7M)
Second Hand Vehicles (Cars.co.za)
(# Cos: 204 | $22.5M)
Cars (AutoTrader)
(# Cos: 144 | $22.5M)
B2C Marketplace (Automarket)
(# Cos: 9 | $16.5M)
Automarket
(2020, $16.5M)
Wafa MyCars.co.za
Automarket (2020)
$13.1M - Seed - Oct 2021

Lipa Later (2015)
$12.0M - Seed - Jan 2022
Point of Sale Financing Marketplaces -
Africa
31
39
Back to index
Horizontal E-Commerce (Takealot)
(# Cos: 401 | $1.2B)
Marketplace (Jumia)
(# Cos: 133 | $787M)
Purchase Financing (Lipa Later)
(# Cos: 1 | $12.0M)
Taxonomy
Key Stats
Africa Tech
$12.0M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$12.0M
1
-
1
1
Lipa Later
(2015, $12.0M)

Off Grid Distributed Solar Energy Resource
Management Systems - Africa
32
40
Back to index
Taxonomy
Key Stats
Africa Tech
$11.7M (▲399%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$14.1M
2
-
2
1
Renewable Energy Tech (Sistema)
(# Cos: 38 | $66.7M)
Solar Energy (The Sun Exchange)
(# Cos: 26 | $39.1M)
DERMS (Devergy)
(# Cos: 2 | $14.1M)
Off Grid (Baobab +)
(# Cos: 2 | $14.1M)
Baobab +
(2015, $14.1M)
Devergy
Baobab + (2015)
$11.7M - Series A - Sep 2021

Internet First Pay Per Mile Insurers -
Africa
33
41
Back to index
Taxonomy
Key Stats
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: 414 | $37.7M)
Insurance (Griffin)
(# Cos: 26 | $14.8M)
Internet First Insurer (JaSure Financial
Services)
(# Cos: 9 | $14.8M)
Usage Based (Naked)
(# Cos: 6 | $14.8M)
Naked
(2016, $14.8M)
JaSure Financial Servi.. Griffin
Naked (2016)
$11.1M - Series A - Aug 2021
AiCare (2020)
Undisclosed - Seed - May 2021

PBP (2019)
$5.0M - Seed - Jan 2022
Chari (2014)
Undisclosed - Seed - Jan 2022
$5.0M - Seed - Oct 2021
Kamioun (2020)
$400K - Seed - Dec 2021
B2B Horizontal Marketplaces - Africa
34
42
Back to index
B2B E-Commerce (Twiga Foods)
(# Cos: 230 | $332M)
Horizontal (Omnibiz)
(# Cos: 47 | $69.6M)
Marketplace (WaystoCap)
(# Cos: 26 | $65.6M)
Taxonomy
Key Stats
Africa Tech
$10.4M (▲4233%)
5(▲400%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$65.6M
9
-
26
2
WaystoCap
(2014, $3.0M)
Chari
(2014, $5.2M)
Jiji
(2014, $50.0M)

HRMS for Enterprises - Africa
35
43
Back to index
Taxonomy
Key Stats
Africa Tech
$10.0M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$10.2M
4
-
64
1
HRTech (Gebeya)
(# Cos: 1116 | $56.3M)
HRMS (PAYNAS)
(# Cos: 144 | $12.5M)
Suite (WorkPay)
(# Cos: 120 | $12.5M)
Enterprise (SeamlessHR)
(# Cos: 64 | $10.2M)
SeamlessHR
(2011, $10.2M)
PAYNAS PaySpace
SeamlessHR (2011)
$10.0M - Series A - Jan 2022

Healthcare Booking Platforms - Africa
36
44
Back to index
Healthcare Booking Platforms (Vezeeta)
(# Cos: 741 | $116M)
Diversified (Waspito)
(# Cos: 76 | $11.4M)
Taxonomy
Key Stats
Africa Tech
$7.7M (▲205%)
4(▲33.3%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$11.4M
10
-
76
0
Waspito
(2020, $2.7M)
Healthlane
(2020, $2.5M)
Livia Dawa
Rocket Health (2012)
$5.0M - Series A - Mar 2022
Waspito (2020)
$2.7M - Seed - Mar 2022
My Health Africa (2017)
Undisclosed - Seed - Aug 2021
OneHealth (2019)
Undisclosed - Seed - Jun 2021

B2B Processed Food Products
Marketplace - Africa
37
45
Back to index
Taxonomy
Key Stats
Africa Tech
$7.7M ( -- )
2( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$7.7M
4
-
7
0
B2B E-Commerce (MarketForce360)
(# Cos: 230 | $332M)
Food & Beverages (Maxab)
(# Cos: 52 | $186M)
Groceries (Twiga Foods)
(# Cos: 51 | $186M)
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)
Cartona (2019)
$4.5M - Seed - Sep 2021
JABU (2020)
$3.2M - Seed - Jan 2022

White Label Prepaid Cards Solutions -
Africa
38
46
Back to index
Taxonomy
Key Stats
Africa Tech
$6.8M (▼31.8%)
3(▲200%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$21.8M
4
-
6
2
Payments (Paga)
(# Cos: 1164 | $2.2B)
Enablers (Entersekt)
(# Cos: 69 | $33.1M)
White Label Solutions (_$udo)
(# Cos: 24 | $21.8M)
Payment Cards (Union54)
(# Cos: 9 | $21.8M)
Prepaid Cards (AppZone Group)
(# Cos: 6 | $21.8M)
AppZone Group
(2008, $15.0M)
Union54
(2020, $3.1M)
_$udo
(2020, $3.7M)
_$udo (2020)
$3.7M - Seed - Mar 2022
Union54 (2020)
$3.0M - Seed - Oct 2021
$125K - Seed - Sep 2021

Internet First Banks for Businesses with Partner
Bank's License - Africa
39
47
Back to index
Taxonomy
Key Stats
Africa Tech
$5.5M (▲4300%)
2(▲100%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$5.6M
3
-
8
0
Banking Tech (Kuda)
(# Cos: 363 | $895M)
Internet First Banks (TymeBank)
(# Cos: 75 | $309M)
Through Bank Partnerships (Umba)
(# Cos: 47 | $10.9M)
Business Banking (Prospa)
(# Cos: 8 | $5.6M)
Prospa
(2019, $3.9M)
Brass
(2019, $1.7M)
Glade
Prospa (2019)
$3.8M - Seed - Sep 2021
Brass (2019)
$1.7M - Seed - Oct 2021

Mobile First Coalition Loyalty - Africa
40
48
Back to index
Taxonomy
Key Stats
Africa Tech
$5.3M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$6.0M
2
-
7
0
Loyalty Software (Dsquares)
(# Cos: 87 | $6.6M)
Coalition Loyalty (The Good Tree)
(# Cos: 32 | $6.0M)
Multi Industry (FreeOui)
(# Cos: 30 | $6.0M)
Reward Points Based (Loyal1)
(# Cos: 18 | $6.0M)
Mobile First (Thank U Cash)
(# Cos: 7 | $6.0M)
Thank U Cash
(2018, $6.0M)
Loyal1 Loyalty Club
Thank U Cash (2018)
$5.3M - Seed - Jan 2022

On Demand Pay - Africa
41
49
Back to index
Taxonomy
Key Stats
Africa Tech
$5.1M (▲120%)
3( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$8.0M
3
-
6
2
HRTech (Gebeya)
(# Cos: 1116 | $56.3M)
Employee Benefits (SmartWage)
(# Cos: 38 | $8.7M)
Financial Benefits (NowPay)
(# Cos: 16 | $8.4M)
On Demand Pay (Floatpays)
(# Cos: 6 | $8.0M)
Floatpays
(2019, $5.1M)
NowPay
(2018, $2.7M)
Paymenow
(2019, $230K)
Floatpays (2019)
$991K - Seed - Feb 2022
$4.0M - Seed - Jan 2022
$125K - Seed - Aug 2021

E-commerce Delivery Services - Africa
42
50
Back to index
Taxonomy
Key Stats
Africa Tech
$5.0M ( -- )
2( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$33.7M
4
-
19
2
(# Cos: 949 | $267M)
Ecommerce Logistics (OuiCarry)
(# Cos: 84 | $43.1M)
End to End Delivery Services (Sendbox)
(# Cos: 24 | $35.8M)
Own Fleet (Sendy)
(# Cos: 19 | $33.7M)
Sendy
(2014, $27.0M)
Parcelninja
(2012, $1.7M)
GIGL
Milezmore (2021)
$5.0M - Seed - Feb 2022
Speedaf (2019)
Undisclosed - Series A - Jun 2021

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Tracxn - Top Business Models - Africa Tech - Apr 2022

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Tracxn - Top Business Models - Africa Tech - Apr 2022