The document provides an overview of the top business models and funding in Africa tech over the last year. It lists the 50 most funded business models, including payments solutions ($562M), sports betting platforms ($293M), digital wallets ($240M), banking software suites ($190M), and others. For each model it provides details on funding amounts, number of funding rounds, and sometimes the top funding rounds for companies in that sector.

1. TRACXN TOP BUSINESS MODELS REPORT
January 24, 2022
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 $864M
Sports Tech $295M
Pharmacy IT $35.9M
Y-o-Y Funding
Top Investors by Funding Rounds
Seed
Stage
Y Combinator
Launch Africa
Future Africa
23
18
13
Early
Stage
Endeavor
Algebra Ventures
Global Ventures
7
5
5
Late
Stage
Endeavor
Google
Fidelity Investments
2
1
1
Funding by Geography
Top Feeds by $ Funding
Top Funding Rounds
$ Funding # Rounds
OPay
(2018, )
$400M - Series C
BetKing
(2018, )
$293M - Series C
Jumo
(2015, )
$120M - Series D
MNT Halan
(2017, )
$120M - Series A
TymeBank
(2012, )
$110M - Series B
TradeDepot
(2015, )
$110M - Series B
TYME
(2012, )
$110M - Series B
MFS Africa
(2009, )
$100M - Series C
PalmPay
(2019, )
$100M - Series A
Yoco
(2015, )
$83.0M - Series C
TymeBank
(2012, )
$70.0M - Series B
TYME
(2012, )
$70.0M - Series B
Lagos (33%)
Johannesburg (16%)
Ikeja (13%)
Cairo (8%)
Cape Town (6%)
Others (24%)

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▲31 Business Payments Solutions $562M 8 OPay | $400M | Series C Link
2<> 0 Sports Betting Platforms $293M 1 BetKing | $293M | Series C Link
3<> 0 Sports Betting Platforms $293M 1 BetKing | $293M | Series C Link
4▲54 Digital Wallets $240M 12 MNT Halan | $120M | Series A Link
5-- Banking Software Suite $190M 3 TYME | $110M | Series B Link
6-- KYC for Financial Institutions $180M 2 TYME | $110M | Series B Link
7▼1 Retail Stores Informal Distribution $124M 3 TradeDepot | $110M | Series B Link
8-- Internet First Lenders $120M 1 MNT Halan | $120M | Series A Link
9▼8 Internet First Loan Marketplace $120M 1 Jumo | $120M | Series D Link
10▲11 B2B E-Commerce Software Suite $110M 1 TradeDepot | $110M | Series B 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-- Internet First Personal Loans $84.0M 2 FairMoney | $42.0M | Series B Link
12▲79 B2B Grocery Marketplace $58.1M 5 Twiga Foods | $50.0M | Series C Link
13▼2 Online B2B Grocery Distributor $56.1M 4 Maxab | $40.0M | Series A Link
14▲91 Online B2B Farm Produce Retailers $55.0M 2 Maxab | $40.0M | Series A Link
15▲77 B2B Farm Produce Marketplaces $53.2M 4 Twiga Foods | $50.0M | Series C Link
16▲49 Truck Booking Marketplaces $36.9M 6 Trella | $30.0M | Series A Link
17▼2 Hyperlocal Delivery $32.7M 7 MAX | $31.0M | Series B Link
18▼1 Genomic Data Analysis Platforms $28.5M 3 54gene | $25.0M | Series B Link
19▼1 Genomics Sequencing Analysis Software $25.0M 1 54gene | $25.0M | Series B Link
20▼1 Life Sciences Research Services $25.0M 1 54gene | $25.0M | Series B 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-- B2B Remittance $20.0M 1 AZA | $20.0M | Series B Link
22▼17 Farming as a Service $19.1M 2 Agricorp | $17.5M | Series A Link
23▲29 Home Furnishing Products Marketplaces $15.0M 1 Homzmart | $15.0M | Series A Link
24▲1 GIS in Transportation $14.5M 1 WhereIsMyTra.. | $14.5M | Series A Link
25▲1 Traffic Data $14.5M 1 WhereIsMyTra.. | $14.5M | Series A Link
26▲1 Public Transport Data Collection Solutions $14.5M 1 WhereIsMyTra.. | $14.5M | Series A Link
27--
Off Grid Distributed Solar Energy Resource
Management Systems
$14.1M 2 Baobab + | $11.7M | Series A Link
28-- White Label Prepaid Cards Solutions $13.1M 3 AppZone Group | $10.0M | Series A Link
29▲5 B2C Used Cars Marketplaces $13.1M 1 Automarket | $13.1M | Seed Link
30▲13 Open Banking API Providers $13.0M 4 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-- Internet First Pay Per Mile Insurers $11.1M 1 Naked | $11.1M | Series A Link
32-- Internet First Usage Based Auto Insurers $11.1M 1 Naked | $11.1M | Series A Link
33-- Farmer to Farmer Content Platforms $11.0M 1 Wefarm | $11.0M | Series A Link
34▲48 B2B Horizontal Marketplaces $10.4M 5 PBP | $5.0M | Series A Link
35▼11 Food Ordering Platforms $10.1M 4 elmenus | $10.0M | Series B Link
36-- HRMS for Enterprises $10.0M 1 SeamlessHR | $10.0M | Series A Link
37-- B2B Processed Food Products Marketplace $7.7M 2 Cartona | $4.5M | Seed Link
38-- Online Marketplace for Drugs $7.5M 2 Yodawy | $7.5M | Series B Link
39-- Telepharmacy For Drugs $7.5M 1 Yodawy | $7.5M | Series B Link
40▲10 B2B Hyperlocal Delivery $6.7M 1 Bosta | $6.7M | 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 Working Capital Loans Marketplaces $6.3M 4 PayHippo | $3.0M | Seed Link
42▼19 Cryptocurrency Trading Platforms $6.2M 2 Busha | $4.2M | Seed Link
43-- Online Coding Courses $6.1M 2 Hyperion Deve.. | $3.6M | Series A Link
44▲18 Internet First Point of Sale Financing $6.0M 1 Sympl | $6.0M | Seed Link
45--
Internet First Banks for Businesses with Partner
Bank's License
$5.5M 2 Prospa | $3.8M | Seed Link
46-- Mobile First Coalition Loyalty $5.3M 1 Thank U Cash | $5.3M | Seed Link
47-- Retail Stores Point Of Sale Financing $5.0M 2 POSRocket | $5.0M | Series A Link
48-- Electric Vehicle Manufacturers $5.0M 1 Opibus | $5.0M | Series A Link
49▲35 Car Ride Hailing $5.0M 1 Gozem | $5.0M | Series A Link
50-- Blockchain in Financial Services $4.7M 1 Pynths | $4.7M | 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
Ozow (2005)
$48.0M - Series B - Nov 2021
Paymob (2015)
$15.0M - Series A - Apr 2021
Adumo (2009)
$15.0M - Series B - Feb 2021
appsNmobile (2015)
$1.0M - Seed - Jun 2021
TeamApt (2015)
Undisclosed - Series B - Jul 2021
View all 8 Funding Rounds on Tracxn Platform
Business Payments Solutions - Africa
01
9
Back to index
Payments (Paga)
(# Cos: 965 | $1.7B)
Business Payments (Kudi)
(# Cos: 537 | $1.1B)
Diversified (Interswitch)
(# Cos: 84 | $966M)
Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$562M (▲ >10K%)
8(▲167%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
6
$966M
21
2
84
6
Interswitch
(2002, $200M)
Yoco
(2015, $107M)
OPay
(2018, $570M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

10. Copyright © 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
$293M (▲253%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$377M
7
-
33
1
Gambling Tech (Forebet)
(# Cos: 230 | $377M)
Online Gambling Platforms (Pokerbros)
(# Cos: 98 | $377M)
Betting (Interbet)
(# Cos: 40 | $377M)
Sports (Bet.co.za)
(# Cos: 37 | $377M)
Multi Sports (BetKing)
(# Cos: 33 | $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

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
$293M (▲253%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$377M
7
-
37
1
Sports Tech (SuperSport)
(# Cos: 261 | $381M)
Sports Betting (Forebet)
(# Cos: 127 | $377M)
Betting Platforms (Bet.co.za)
(# Cos: 40 | $377M)
Multi Sports (BetKing)
(# Cos: 37 | $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

12. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
MNT Halan (2017)
$120M - Series A - Aug 2021
PalmPay (2019)
$100M - Series A - Aug 2021
ZeePay (2014)
$7.9M - Series A - Jun 2021
Thank U Cash (2018)
$5.3M - Seed - Jan 2022
telda (2019)
$5.0M - Seed - May 2021
Asilimia (2017)
$1.0M - Seed - Nov 2021
SikaPay (2018)
$348K - Seed - Oct 2021
View all 12 Funding Rounds on Tracxn Platform
Digital Wallets - Africa
04
12
Back to index
Payments (Interswitch)
(# Cos: 965 | $1.7B)
Consumer Payments (OPay)
(# Cos: 367 | $545M)
Wallets (Paga)
(# Cos: 195 | $488M)
Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$240M (▲ >10K%)
12(▲500%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
4
$488M
41
-
195
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
Banking Software Suite - Africa
05
13
Back to index
Banking Tech (Kuda)
(# Cos: 348 | $868M)
Banking Software Suite (AppZone Group)
(# Cos: 42 | $195M)
Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$190M ( -- )
3( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
2
$195M
4
-
42
1
AppZone Group
(2008, $15.0M)
TYME
(2012, $180M)
Fintech Group
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
TYME (2012)
$110M - Series B - Feb 2021
TYME (2012)
$70.0M - Series B - Dec 2021
AppZone Group (2008)
$10.0M - Series A - Apr 2021

14. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
KYC for Financial Institutions - Africa
06
14
Back to index
RegTech (Entersekt)
(# Cos: 46 | $197M)
KYC (TYME)
(# Cos: 21 | $183M)
Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$180M ( -- )
2( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$183M
7
-
21
0
TYME
(2012, $180M)
Inclusive Financial Te..
(2016, $17.5K)
Seamfix
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
TYME (2012)
$110M - Series B - Feb 2021
TYME (2012)
$70.0M - Series B - Dec 2021

15. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
Retail Stores Informal Distribution -
Africa
07
15
Back to index
In Store Retail Tech (Yoco)
(# Cos: 188 | $216M)
Informal Distribution (TradeDepot)
(# Cos: 4 | $174M)
Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$124M (▲269%)
3( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$174M
4
-
4
3
TradeDepot
(2015, $123M)
Sokowatch
(2013, $26.9M)
Alerzo
(2018, $20.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
TradeDepot (2015)
$110M - Series B - Nov 2021
Alerzo (2018)
$10.5M - Series A - Aug 2021
Omnibiz (2010)
$3.0M - Seed - Aug 2021

16. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
Internet First Lenders - Africa
08
16
Back to index
Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$120M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$120M
3
-
30
1
Alternative Lending (Kopo Kopo)
(# Cos: 510 | $704M)
Online Lenders (OneFi)
(# Cos: 417 | $702M)
Diversified (Jumo)
(# Cos: 68 | $426M)
Direct Lender (MNT Halan)
(# Cos: 30 | $120M)
MNT Halan
(2017, $120M)
Fido Shika
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
MNT Halan (2017)
$120M - Series A - Aug 2021

17. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
Internet First Loan Marketplace - Africa
09
17
Back to index
Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$120M (▲11.1%)
1(▼66.7%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$306M
6
-
38
1
Alternative Lending (Kopo Kopo)
(# Cos: 510 | $704M)
Online Lenders (OneFi)
(# Cos: 417 | $702M)
Diversified (MNT Halan)
(# Cos: 68 | $426M)
Marketplace (Jumo)
(# Cos: 38 | $306M)
Jumo
(2015, $305M)
Lupiya
(2016, $1.0M)
Afri Kash
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Jumo (2015)
$120M - Series D - Nov 2021

18. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
TradeDepot (2015)
$110M - Series B - Nov 2021
B2B E-Commerce Software Suite - Africa
10
18
Back to index
B2B E-Commerce (Twiga Foods)
(# Cos: 187 | $433M)
Technology Enablers (Sokowatch)
(# Cos: 19 | $171M)
E Commerce Software Suite
(TradeDepot)
(# Cos: 6 | $124M)
Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$110M (▲953%)
1(▼50%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$124M
4
-
6
1
TradeDepot
(2015, $123M)
Garment IO
(2017, $450K)
Morpheus Commerce
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

19. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
Internet First Personal Loans - 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
$84.0M ( -- )
2( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$110M
5
-
37
2
Alternative Lending (Numida)
(# Cos: 510 | $704M)
Online Lenders (Kopo Kopo)
(# Cos: 417 | $702M)
Consumer Loans (OneFi)
(# Cos: 265 | $214M)
Personal Loans (INuka Pap)
(# Cos: 81 | $111M)
Direct Lender (FairMoney)
(# Cos: 37 | $110M)
FairMoney
(2018, $54.5M)
FairMoney
(2017, $54.5M)
INuka Pap
(2015, $1.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
FairMoney (2017)
$42.0M - Series B - Jul 2021
FairMoney (2018)
$42.0M - Series B - Jul 2021

20. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
B2B Grocery 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
$58.1M (▲ >10K%)
5(▲400%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$119M
8
-
8
1
Online Grocery (Breadfast)
(# Cos: 345 | $280M)
B2B Ecommerce (AgroCenta)
(# Cos: 63 | $213M)
Multi-Category (Sokowatch)
(# Cos: 14 | $208M)
Marketplace (Twiga Foods)
(# Cos: 8 | $119M)
Twiga Foods
(2014, $110M)
Vendease
(2017, $3.3M)
Food Supply
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Twiga Foods (2014)
$50.0M - Series C - Nov 2021
Cartona (2019)
$4.5M - Seed - Sep 2021
Vendease (2017)
$3.2M - Seed - Oct 2021
Kamioun (2020)
$400K - Seed - Dec 2021
Vendease (2017)
$125K - Seed - Jan 2021

21. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
Online B2B Grocery Distributor - Africa
13
21
Back to index
Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$56.1M (▲211%)
4(▲33.3%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$89.3M
5
-
6
2
Online Grocery (Breadfast)
(# Cos: 345 | $280M)
B2B Ecommerce (AgroCenta)
(# Cos: 63 | $213M)
Multi-Category (Twiga Foods)
(# Cos: 14 | $208M)
E-Distributor (Sokowatch)
(# Cos: 6 | $89.3M)
Sokowatch
(2013, $26.9M)
Maxab
(2018, $61.2M)
Suplias
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Maxab (2018)
$40.0M - Series A - Jul 2021
Maxab (2018)
$15.0M - Series A - Aug 2021
Talabeyah (2020)
$1.1M - Seed - Oct 2021
Suplias (2019)
Undisclosed - Seed - Jul 2021

22. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
Online B2B Farm Produce Retailers -
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
$55.0M (▲ >10K%)
2(▼33.3%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$61.4M
4
-
7
1
B2B E-Commerce (WaystoCap)
(# Cos: 187 | $433M)
Food & Beverages (Vendease)
(# Cos: 50 | $185M)
Groceries (AgroCenta)
(# Cos: 49 | $185M)
Farm Products (Twiga Foods)
(# Cos: 39 | $177M)
E-Distributor (Maxab)
(# Cos: 7 | $61.4M)
Maxab
(2018, $61.2M)
Taimba
(2015, $100K)
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

23. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
B2B Farm Produce Marketplaces - 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
$53.2M (▲ >10K%)
4(▲ >10K%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$114M
12
-
26
1
B2B E-Commerce (WaystoCap)
(# Cos: 187 | $433M)
Food & Beverages (Vendease)
(# Cos: 50 | $185M)
Groceries (Maxab)
(# Cos: 49 | $185M)
Farm Products (AgroCenta)
(# Cos: 39 | $177M)
Marketplace (Twiga Foods)
(# Cos: 26 | $114M)
Twiga Foods
(2014, $110M)
Vendease
(2017, $3.3M)
eFarm.cm
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Twiga Foods (2014)
$50.0M - Series C - Nov 2021
Vendease (2017)
$3.2M - Seed - Oct 2021
Vendease (2017)
$125K - Seed - Jan 2021
HelloChoice (2005)
Undisclosed - Seed - Sep 2021

24. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
Truck Booking Marketplaces - Africa
16
24
Back to index
Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$36.9M (▲7288%)
6(▲20%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$114M
12
-
53
3
Logistics Tech (Sendy)
(# Cos: 841 | $237M)
Freight (Tracker South Africa)
(# Cos: 423 | $116M)
Trucking (Trella)
(# Cos: 357 | $115M)
Heavy Cargo (Lori)
(# Cos: 76 | $114M)
Marketplace (Kobo360)
(# Cos: 53 | $114M)
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
AmiTruck (2018)
$4.8M - Series A - Jan 2022
ILLA (2017)
$2.0M - Seed - Oct 2021
Ridelink (2016)
$150K - Seed - Aug 2021
Kamtar (2018)
Undisclosed - Seed - Oct 2021
AmiTruck (2018)
Undisclosed - Seed - Feb 2021

25. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
MAX (2015)
$31.0M - Series B - Dec 2021
Bosta (2016)
$6.7M - Series A - May 2021
Paps (2016)
$4.5M - Seed - Jan 2022
Kwik (2018)
$1.7M - Seed - Mar 2021
Lamma City (2019)
Undisclosed - Seed - Oct 2021
Lamma City (2019)
Undisclosed - Seed - Oct 2021
ShapShap (2017)
Undisclosed - Seed - Dec 2021
Hyperlocal Delivery - Africa
17
25
Back to index
Logistics Tech (Kobo360)
(# Cos: 841 | $237M)
Parcel (MAX)
(# Cos: 311 | $82.7M)
Hyperlocal Delivery (Bosta)
(# Cos: 205 | $81.1M)
Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$32.7M (▲118%)
7(▼12.5%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
2
$81.1M
19
-
205
2
Bosta
(2016, $8.1M)
MAX
(2015, $39.6M)
Gokada
(2018, $6.9M)
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
54gene (2019)
$25.0M - Series B - Sep 2021
IndyGeneUS (2020)
$2.0M - Seed - Dec 2021
IndyGeneUS (2020)
$1.5M - Seed - Nov 2021
Genomic Data Analysis Platforms -
Africa
18
26
Back to index
Genomics (3X4 Genetics)
(# Cos: 57 | $51.5M)
Genome Informatics (IndyGeneUS)
(# Cos: 4 | $48.5M)
Integrative Bioinformatics Platforms
(54gene)
(# Cos: 3 | $48.5M)
Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$28.5M (▲90%)
3(▲200%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$48.5M
2
-
3
1
54gene
(2019, $45.0M)
IndyGeneUS
(2020, $3.5M)
CoCoNUT
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

27. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
Genomics Sequencing Analysis Software
- Africa
19
27
Back to index
Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$25.0M (▲66.7%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$45.0M
2
-
3
1
Life Sciences Tech (GoldKeys)
(# Cos: 36 | $48.5M)
Research & Development (IndyGeneUS)
(# Cos: 30 | $48.5M)
Drug Discovery (Mara Scientific)
(# Cos: 4 | $45.0M)
Genomics (Hyrax Biosciences)
(# Cos: 3 | $45.0M)
Sequencing Analysis (54gene)
(# Cos: 3 | $45.0M)
54gene
(2019, $45.0M)
Hyrax Biosciences CoCoNUT
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
54gene (2019)
$25.0M - Series B - Sep 2021

28. 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
Life Sciences Research Services - Africa
20
28
Back to index
Life Sciences Platforms and Tools (Next Biosciences)
(# Cos: 39 | $45.0M)
Research Services (Synexa Life Sciences)
(# Cos: 23 | $45.0M)
Diversified (54gene)
(# Cos: 12 | $45.0M)
Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$25.0M (▲66.7%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$45.0M
3
-
12
1
54gene
(2019, $45.0M)
SNC Fibers RIM Pharma
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

29. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
AZA (2015)
$20.0M - Series B - May 2021
B2B Remittance - Africa
21
29
Back to index
Remittance (MFS Africa)
(# Cos: 133 | $167M)
Internet First Platforms (Wapi Pay)
(# Cos: 111 | $48.1M)
B2B Remittance (BitPesa)
(# Cos: 8 | $44.6M)
Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$20.0M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$44.6M
2
-
8
2
BitPesa
(2013, $24.6M)
AZA
(2015, $20.0M)
Innovate 1 Pay
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

30. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
Agricorp (2018)
$17.5M - Series A - Sep 2021
Green Gold Farms (2017)
$1.6M - Seed - Jul 2021
Farming as a Service - Africa
22
30
Back to index
Crop Tech (Aerobotics)
(# Cos: 545 | $309M)
Farming as a Service (Apollo Agriculture)
(# Cos: 57 | $97.5M)
Tech Enabled Services (Komaza)
(# Cos: 47 | $96.4M)
Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$19.1M (▼49.2%)
2(▼33.3%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$96.4M
10
-
47
3
Komaza
(2006, $37.9M)
Apollo Agriculture
(2016, $17.8M)
Babban Gona
(2012, $20.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

31. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
Home Furnishing Products Marketplaces
- Africa
23
31
Back to index
Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$15.0M (▲1054%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$17.2M
2
-
6
1
Home Improvements (AbegYa)
(# Cos: 82 | $18.8M)
B2C Commerce (Yadaweya)
(# Cos: 68 | $18.8M)
Horizontal (Kemitt)
(# Cos: 33 | $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

32. 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
GIS in Transportation - Africa
24
32
Back to index
Geographic Information Systems (1map)
(# Cos: 94 | $27.8M)
Location Analytics (Lightstone Explore)
(# Cos: 35 | $27.8M)
Transportation (WhereIsMyTransport)
(# Cos: 12 | $27.8M)
Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$14.5M (▲93.3%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$27.8M
1
-
12
1
WhereIsMyTransport
(2015, $27.8M)
Wasalny Beat Traffik
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

33. 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
25
33
Back to index
Data as a Service (Satrix)
(# 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.

34. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
Public Transport Data Collection
Solutions - Africa
26
34
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: 799 | $259M)
Mass Transit (Swvl)
(# Cos: 96 | $142M)
Enablers (Keolis)
(# Cos: 12 | $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

35. 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
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
$14.1M ( -- )
2( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$14.1M
2
-
2
0
Renewable Energy Tech (The Sun Exchange)
(# Cos: 37 | $51.1M)
Solar Energy (SunCulture)
(# Cos: 25 | $39.1M)
DERMS (Devergy)
(# Cos: 2 | $14.1M)
Off Grid (Baobab +)
(# Cos: 2 | $14.1M)
Baobab +
(2015, $14.1M)
Devergy
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Baobab + (2015)
$11.7M - Series A - Sep 2021
Baobab + (2015)
$2.3M - Seed - Apr 2021

36. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
White Label Prepaid Cards Solutions -
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
$13.1M ( -- )
3( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$18.1M
4
-
5
1
Payments (Interswitch)
(# Cos: 965 | $1.7B)
Enablers (Entersekt)
(# Cos: 61 | $29.2M)
White Label Solutions (Paycorp Holdings)
(# Cos: 22 | $18.1M)
Payment Cards (Union54)
(# Cos: 8 | $18.1M)
Prepaid Cards (AppZone Group)
(# Cos: 5 | $18.1M)
AppZone Group
(2008, $15.0M)
Union54
(2020, $3.1M)
PayLogic
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
AppZone Group (2008)
$10.0M - Series A - Apr 2021
Union54 (2020)
$3.0M - Seed - Oct 2021
Union54 (2020)
$125K - Seed - Sep 2021

37. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
B2C Used Cars Marketplaces - 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
$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: 388 | $38.3M)
Second Hand Vehicles (Cars45)
(# Cos: 192 | $23.1M)
Cars (AutoTrader)
(# Cos: 135 | $23.1M)
B2C Marketplace (Automarket)
(# Cos: 9 | $16.5M)
Automarket
(2020, $16.5M)
MyCars.co.za Wafa
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Automarket (2020)
$13.1M - Seed - Oct 2021

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
OnePipe (2018)
$3.5M - Seed - Nov 2021
Stitch (2019)
$2.0M - Seed - Oct 2021
Open Banking API Providers - Africa
30
38
Back to index
Banking Tech (Kuda)
(# Cos: 348 | $868M)
Open Banking (OnePipe)
(# Cos: 21 | $15.9M)
Banking APIs (Okra)
(# Cos: 13 | $15.9M)
Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$13.0M (▲567%)
4(▲33.3%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$15.9M
8
-
13
2
Okra
(2019, $4.5M)
OnePipe
(2018, $4.5M)
Stitch
(2019, $6.0M)
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
Internet First Pay Per Mile Insurers -
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
$11.1M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$14.8M
2
-
4
1
Auto E-Commerce & Content (Automarket)
(# Cos: 388 | $38.3M)
Insurance (AutoGenius)
(# 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

40. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
Internet First Usage Based Auto Insurers
- 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
$11.1M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$14.8M
1
-
3
1
Internet First Insurance Platforms (King Price)
(# Cos: 142 | $708M)
Internet First Insurers (RelianceHMO)
(# Cos: 54 | $26.7M)
P&C (FarmCrowdy)
(# Cos: 26 | $16.8M)
Auto (MiWay Blink)
(# Cos: 6 | $14.8M)
Usage-based (Naked)
(# Cos: 3 | $14.8M)
Naked
(2016, $14.8M)
Griffin Intaba Financial Servi..
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Naked (2016)
$11.1M - Series A - Aug 2021

41. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
Farmer to Farmer Content Platforms -
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
$11.0M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$32.0M
1
-
6
1
Crop Tech (Aerobotics)
(# Cos: 545 | $309M)
Content Platforms (Tulaa)
(# Cos: 47 | $35.7M)
Farming Advice (Esoko)
(# Cos: 32 | $35.4M)
Farmer to Farmer (Wefarm)
(# Cos: 6 | $32.0M)
Wefarm
(2015, $32.0M)
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

42. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
PBP (2019)
$5.0M - Series A - Jan 2022
Chari (2014)
$5.0M - Seed - Oct 2021
Kamioun (2020)
$400K - Seed - Dec 2021
Chari (2014)
Undisclosed - Seed - Jul 2021
Chari (2014)
Undisclosed - Seed - Jan 2022
B2B Horizontal Marketplaces - Africa
34
42
Back to index
B2B E-Commerce (Twiga Foods)
(# Cos: 187 | $433M)
Horizontal (Omnibiz)
(# Cos: 33 | $67.6M)
Marketplace (WaystoCap)
(# Cos: 21 | $63.6M)
Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$10.4M (▲4233%)
5(▲400%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$63.6M
8
-
21
1
WaystoCap
(2014, $3.0M)
Chari
(2014, $5.2M)
Jiji
(2014, $50.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

43. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
Food Ordering Platforms - Africa
35
43
Back to index
Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$10.1M (▲24.7%)
4(▲33.3%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
2
$19.7M
10
-
95
1
Food Tech (MrD Food)
(# Cos: 229 | $22.5M)
Food Discovery and Ordering (Mumm)
(# Cos: 145 | $20.4M)
Restaurant Aggregator (Otlob)
(# Cos: 117 | $19.7M)
Platform Delivered (elmenus)
(# Cos: 95 | $19.7M)
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
Jise (2020)
$100K - Angel - Oct 2021
Tayary (2016)
Undisclosed - Seed - Jan 2021
elmenus (2011)
Undisclosed - Angel - Feb 2021

44. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
HRMS for Enterprises - Africa
36
44
Back to index
Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$10.0M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$10.2M
4
-
61
1
HRTech (Gebeya)
(# Cos: 1052 | $44.2M)
HRMS (TalentBase)
(# Cos: 139 | $12.5M)
Suite (WorkPay)
(# Cos: 117 | $12.5M)
Enterprise (SeamlessHR)
(# Cos: 61 | $10.2M)
SeamlessHR
(2011, $10.2M)
SeamlessHR PAYNAS
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
SeamlessHR (2011)
$10.0M - Series A - Jan 2022

45. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
B2B Processed Food Products
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
$7.7M ( -- )
2( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$7.7M
4
-
7
0
B2B E-Commerce (WaystoCap)
(# Cos: 187 | $433M)
Food & Beverages (AgroCenta)
(# Cos: 50 | $185M)
Groceries (Twiga Foods)
(# Cos: 49 | $185M)
Processed Products (Cartona)
(# Cos: 10 | $8.8M)
Diversified (Food Supply)
(# Cos: 10 | $8.8M)
Marketplace (JABU)
(# Cos: 7 | $7.7M)
JABU
(2020, $3.2M)
Food Supply Cartona
(2019, $4.5M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Cartona (2019)
$4.5M - Seed - Sep 2021
JABU (2020)
$3.2M - Seed - Jan 2022

46. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
Online Marketplace for Drugs - Africa
38
46
Back to index
Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$7.5M ( -- )
2( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$24.0M
11
-
131
1
Healthcare Booking Platforms (Vezeeta)
(# Cos: 685 | $103M)
Pharmacies (Yodawy)
(# Cos: 209 | $25.5M)
Drugs (Chefaa)
(# Cos: 138 | $24.0M)
Diversified (MyDawa)
(# Cos: 131 | $24.0M)
MyDawa
(2017, $8.0M)
Chefaa Yodawy
(2018, $7.5M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Yodawy (2018)
$7.5M - Series B - Jul 2021
Yodawy (2018)
$7.5M - Series B - Jul 2021

47. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
Telepharmacy For Drugs - 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
$7.5M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$7.5M
3
-
26
0
Healthcare Booking Platforms (Vezeeta)
(# Cos: 685 | $103M)
Pharmacies (3elagi)
(# Cos: 209 | $25.5M)
Drugs (Chefaa)
(# Cos: 138 | $24.0M)
Diversified (MyDawa)
(# Cos: 131 | $24.0M)
Telepharmacy (Yodawy)
(# Cos: 26 | $7.5M)
Yodawy
(2018, $7.5M)
Konsolto Dawaya
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Yodawy (2018)
$7.5M - Series B - Jul 2021

48. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
B2B Hyperlocal Delivery - Africa
40
48
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Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$6.7M (▲365%)
1(▼66.7%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
2
$8.1M
6
-
23
0
Logistics Tech (Kobo360)
(# Cos: 841 | $237M)
Parcel (Gokada)
(# Cos: 311 | $82.7M)
Hyperlocal Delivery (MAX)
(# Cos: 205 | $81.1M)
B2B (Bosta)
(# Cos: 23 | $8.1M)
Bosta
(2016, $8.1M)
Wumdrop Bwala
(2018, $40.0K)
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

49. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
Internet First Working Capital Loans
Marketplaces - Africa
41
49
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Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$6.3M ( -- )
4( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$6.3M
3
-
12
0
Alternative Lending (Jumo)
(# Cos: 510 | $704M)
Online Lenders (OneFi)
(# Cos: 417 | $702M)
Business Loans (Kopo Kopo)
(# Cos: 79 | $62.5M)
Working Capital Loans (Pezesha)
(# Cos: 15 | $6.3M)
Marketplace (Numida)
(# Cos: 12 | $6.3M)
Numida
(2015, $2.3M)
Pezesha
(2016, $30.0K)
PayHippo
(2019, $4.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
PayHippo (2019)
$3.0M - Seed - Nov 2021
Numida (2015)
$2.3M - Seed - Apr 2021
PayHippo (2019)
$1.0M - Seed - Jul 2021
Pezesha (2016)
Undisclosed - Seed - Sep 2021

50. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
Cryptocurrency Trading Platforms -
Africa
42
50
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Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$6.2M (▼34.4%)
2( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$17.3M
7
-
88
3
Cryptocurrencies (Wala)
(# Cos: 641 | $78.6M)
Financial Services (BitPesa)
(# Cos: 544 | $73.3M)
Investment Industry (ACDX)
(# Cos: 433 | $47.8M)
Online Trading Platforms (Ejara)
(# Cos: 100 | $17.3M)
Regular Trading (VALR)
(# Cos: 88 | $17.3M)
VALR
(2018, $5.0M)
Ejara
(2019, $2.0M)
Busha
(2018, $4.2M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Busha (2018)
$4.2M - Seed - Nov 2021
Ejara (2019)
$2.0M - Seed - Oct 2021

51. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
Online Coding Courses - 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
$6.1M ( -- )
2( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$6.1M
2
-
11
1
Continued Learning (GetSmarter)
(# Cos: 359 | $15.8M)
Professional (African Management Initiative)
(# Cos: 259 | $15.3M)
Online Learning (Eneza Education)
(# Cos: 257 | $15.3M)
IT Education (Elmi Academy)
(# Cos: 49 | $6.1M)
Coding (codeX)
(# Cos: 12 | $6.1M)
Online Courses (Hyperion
Development)
(# Cos: 11 | $6.1M)
Hyperion Development
(2012, $6.1M)
codeX Kenya School of Techno..
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Hyperion Development (2012)
$3.6M - Series A - Jun 2021
Hyperion Development (2012)
$2.5M - Seed - Feb 2021

52. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
Internet First Point of Sale Financing -
Africa
44
52
Back to index
Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$6.0M (▲823%)
1(▼50%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$8.3M
4
-
15
0
Alternative Lending (Numida)
(# Cos: 510 | $704M)
Online Lenders (Kopo Kopo)
(# Cos: 417 | $702M)
Consumer Loans (OneFi)
(# Cos: 265 | $214M)
Point of Sale Financing (Sympl)
(# Cos: 23 | $10.3M)
Direct Lender (Credpal)
(# Cos: 15 | $8.3M)
Credpal
(2017, $1.5M)
Sympl
(2021, $6.0M)
Mobicred
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Sympl (2021)
$6.0M - Seed - Nov 2021

53. 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
45
53
Back to index
Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$5.5M ( -- )
2( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$5.5M
3
-
9
0
Banking Tech (Ensibuuko)
(# Cos: 348 | $868M)
Internet First Banks (Kuda)
(# Cos: 72 | $307M)
Through Bank Partnerships (Wala)
(# Cos: 47 | $8.6M)
Business Banking (Prospa)
(# Cos: 9 | $5.5M)
Prospa
(2019, $3.8M)
Brass
(2019, $1.7M)
Lenco
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
Brass (2019)
$1.7M - Seed - Oct 2021

54. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
Mobile First Coalition Loyalty - Africa
46
54
Back to index
Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$5.3M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$6.0M
2
-
7
0
Loyalty Software (Dsquares)
(# Cos: 79 | $6.0M)
Coalition Loyalty (The Good Tree)
(# Cos: 30 | $6.0M)
Multi Industry (EASYLoyalty)
(# Cos: 29 | $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
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Thank U Cash (2018)
$5.3M - Seed - Jan 2022

55. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
Retail Stores Point Of Sale Financing -
Africa
47
55
Back to index
In Store Retail Tech (Zappi)
(# Cos: 188 | $216M)
POS (Yoco)
(# Cos: 101 | $30.9M)
Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$5.0M ( -- )
2( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
7
$30.9M
15
-
101
1
Yoco
(2013, $23.0M)
Touch
(2014, $16.7K)
POSRocket
(2016, $7.2M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
POSRocket (2016)
$5.0M - Series A - Aug 2021
KudiGo (2017)
Undisclosed - Seed - Mar 2021

56. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
Opibus (2017)
$5.0M - Series A - Nov 2021
Electric Vehicle Manufacturers - Africa
48
56
Back to index
Electric Vehicles (Ecobodaa)
(# Cos: 72 | $5.4M)
Automaker (Passerine Aircraft Corporation)
(# Cos: 35 | $5.4M)
Multi Category Vehicles (Opibus)
(# Cos: 8 | $5.0M)
Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$5.0M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$5.0M
3
-
8
2
Opibus
(2017, $5.0M)
Kiira Motors TIo Systems
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

57. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Africa Tech - Top Business Models Report
Recent Funding Rounds
Car Ride Hailing - Africa
49
57
Back to index
Taxonomy
$ Invested in last 1 year in Africa Tech
Key Stats
# Funding Rounds in last 1 year in
Africa Tech
$5.0M (▲3233%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$44.1M
13
-
307
2
Road Transport Tech (Swvl)
(# Cos: 799 | $259M)
Ride Hailing (SafeBoda)
(# Cos: 381 | $74.3M)
Cars (Tirhal Travel)
(# Cos: 354 | $44.2M)
Taxi (YASSIR)
(# Cos: 348 | $44.2M)
Intracity (Little)
(# Cos: 335 | $44.1M)
Aggregator (Gozem)
(# Cos: 307 | $44.1M)
Gozem
(2017, $12.0M)
Little
(2016, $3.0M)
YASSIR
(2017, $150K)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Gozem (2017)
$5.0M - Series A - Dec 2021

58. 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 in Financial Services - Africa
50
58
Back to index
Blockchain Infrastructure (Interstellar)
(# Cos: 16 | $4.7M)
Blockchain Network (The Monero Project)
(# Cos: 10 | $4.7M)
Finance (Pynths)
(# Cos: 5 | $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
-
5
1
Pynths
(2021, $4.7M)
The Monero Project Interstellar
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

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