The African startup ecosystem maintains its strong funding momentum for yet another week as it continues to attract significant investor interest. This week’s funding rounds span multiple sectors including fintech, e-commerce, mobility, and healthcare. The deals recorded include multi-million-dollar seed rounds and institutional funds fueling growth which continue to signal strong confidence in Africa’s innovation landscape.
Here’s a breakdown of the latest funding rounds:
P1 Ventures
Funding Round: $50 Million institutional fund
Investor: World Bank’s IFC
Founded: 2020, Egypt
Founders: Hisham Halbouny, Mikael Hajjar
About the Company:
P1 Ventures is a pan-African early-stage venture capital firm that invests in high-potential startups across fintech, logistics, AI, and B2B commerce. The firm focuses on supporting visionary entrepreneurs who are leveraging technology to address Africa’s most pressing challenges. P1 Ventures has backed several notable African startups, positioning itself as a key player in shaping the continent’s digital economy.
What’s Next?
Known for its contrarian approach, P1 ventures will deploy the fresh fund to back African startups solving critical challenges in fintech, AI, e-commerce, and even solutions beyond traditional tech products further fueling the continent’s startup ecosystem.
LNKO
Funding Round: Undisclosed
Investor: Beltone Venture Capital
Founded: 2019, Morocco
Founders: Maha and Malak Bennani
About the Company:
LNKO is an eyewear startup offering stylish, high-quality, and affordable glasses. The company aims to revolutionize Africa’s eyewear industry by combining innovative design, local manufacturing, and direct-to-consumer sales. LNKO focuses on accessibility, ensuring that more people have access to affordable vision care.
What’s Next?
Backed by the funding, LNKO plans to accelerate its growth, expand its retail presence, strengthen its supply chain, and scale operations across Africa.
Medikea, Motherbeing, Pixii Motors, and ToumAI
Funding Round: $200K each
Investor: Madica
Medikea
- Founded: 2022, Tanzania
- Founders: Dr. Elvis Silayo and Dr. Desire Ruhind
- About the Company:
Medikea is a healthtech startup that provides virtual medical consultations, diagnostics, and prescription services. The platform connects users with licensed doctors for affordable and convenient healthcare solutions.
Motherbeing
- Founded: 2021, Egypt
- Founders: Dr. Nour Emam and Yousef ElSammaa
- About the Company:
Motherbeing is a femtech startup dedicated to maternal healthcare, sexual wellness, and reproductive education. It offers online courses, telemedicine services, and community-driven health resources tailored for women across Africa.
Pixii Motors
- Founded: 2022, Tunisia
- Founders: Anis Fekih, Wafa Dhifi, and Imed Mlaweh.
- About the Company:
Pixii Motors is an electric mobility startup focused on sustainable transportation solutions. The company manufactures electric motorcycles and aims to reduce carbon emissions while making urban mobility more affordable.
ToumAI
- Founded: 2021, Morocco
- Founders: Odin Demassieux, Imade Benelallam,
- About the Company:
ToumAI operates an AI-powered voice analytics solution that analyzes African languages to improve customer experience.
What’s Next? With Madica’s backing, these startups will enhance their product development, expand market reach, and drive impactful solutions in their respective industries.
Taager
Funding Round: Pre-Series B ($6.75 million)
Investors: Endeavor Catalyst, Beltone VC, 4DX Ventures, RAED Ventures, BECO Capital, and Breyer Capital
Founded: 2019, Egypt
Founders: Mohammed Elhorishy, Ahmed Ismail, Omar, Abdelrahman Sherif.
About the Company:
Taager is an e-commerce platform that helps small businesses and social media merchants source and sell products without holding inventory. Through its data-driven supply chain and logistics network, Taager enables merchants to access quality products, manage orders, and optimize sales. The company has gained traction across Egypt and is expanding into new markets.
What’s Next?
The investment will support Taager’s expansion into new markets, further improving its logistics and fulfilment infrastructure.
Affinity Africa
Funding Round: Seed ($8 Million)
Investors: Grazia Equity, BACKED VC, Enza Capital, Launch Africa, Renew Capital, Finca International, Attijariwafa Ventures
Founded: 2023, Ghana
Founders: Tarek Mouganie
About the Company:
Affinity Africa is a fintech startup building a digital-first banking solution tailored for African businesses and individuals. The platform offers a seamless digital banking experience, including savings, payments, credit, and investment options. By leveraging AI and automation, Affinity Africa provides efficient financial services to underserved communities.
What’s Next?
With this funding, the company aims to scale its operations, enhance product offerings, and drive financial inclusion in underbanked communities across Ghana, before commencing its expansion into other countries.
Raenest
Funding Round: Series A ($11 Million)
Investors: QED Investors, Norrsken22, Ventures Platform, P1 Ventures, and Seedstars
Founded: 2022, Nigeria
Founders: Victor Alade, Sodruldeen Mustapha, and Richard Oyome
About the Company:
Raenest is a fintech platform that provides borderless banking and payment solutions for freelancers, remote workers, and businesses across Africa. It offers multi-currency accounts, instant payment solutions, and automated invoicing. The startup aims to make cross-border payments easier and more affordable for Africa’s growing remote workforce.
What’s Next?
The fresh capital will enable Raenest to deepen its operations in Nigerian and Kenyan whle expanding its reach into the U.S and Egypt.
Final Thoughts
With these latest funding rounds, it’s evident that African startups continue to attract global investors. From digital banking to AI and electric mobility, these innovations are shaping the future of the continent’s business landscape.
Stay tuned for more updates in next week’s funding roundup!
