Tuesday, April 21, 2026Global tech, startups & capital — covered for Africans.
The African tech ecosystem seemed to have taken a funding break for the first fourteen days of the year but then resumed activities with a bang as six new major funding deals were announced in just two days.The first and biggest funding beneficiary this week is Nigerian fintech company Lemfi, which raised $53 million. The […]
By AU-Startups
The African tech ecosystem seemed to have taken a funding break for the first fourteen days of the year but then resumed activities with a bang as six new major funding deals were announced in just two days. The first and biggest funding beneficiary this week is Nigerian fintech company Lemfi, which raised $53 million. The five other deals involved startups receiving millions of dollars in capital support for their ventures. As usual, this newsletter issue also features several other fundraising and development opportunities for African startups.
About the Company: Lemfi is a pan-African financial solutions provider that serves Africans in the diaspora, enabling them to easily conduct cross-border money transactions. Its digital platform allows Africans in North America, Europe, and Asia to securely send remittances to African countries. Additionally, Lemfi offers fraud detection solutions to protect users from scams.
The company currently operates in 27 send-from markets and 20 send-to markets.
What’s Next? The $53 million capital infusion will fuel Lemfi’s expansion into more countries across Asia and Europe. This will enable the company to acquire more customers and grow its customer base, further empowering diaspora communities to support their families and friends in Africa.
About the Company: Conservio is a digital travel solutions provider connecting travelers with eco-conscious accommodations and short-let apartments in South Africa, Mozambique, and Namibia. Its online booking platform features over 500 properties across these countries, offering vacationers and travellers stylish and sustainable getaways.
What’s Next? Conservio aims to use the funding to expand its customer base and increase its property listings to 2,000 accommodations in Southern Africa. The goal is to establish itself as the go-to brand for nature-based travel in Southern Africa.
About the Company: The Awareness Company is a SaaS solutions provider that helps businesses leverage data to improve operations and sustainability. Its proprietary HYDRA technology integrates AI, IoT, and data analytics to address challenges in agriculture, conservation, security, and smart infrastructure.
What’s Next? The funding will be invested in improving the company’s marketing and sales efforts as well as enhancing the AI capabilities of HYDRA. This will enable The Awareness Company to continue innovating in the sustainability space.
About the Company: PEV is a venture studio revolutionizing African tourism by focusing on regenerative tourism, a concept where visitors and vacationers are encouraged to leave their holiday destination in better conditions than they found. It operates several high-impact startups addressing gaps in the hospitality industry.
Riding on the influence of the Tourism industry being the third largest sector in Africa, PEV aims to lead Africa’s tourism to a more sustainable future and further improve its profitability.
What’s Next? The funding will help PEV scale its portfolio and launch improved initiatives to set new standards for regenerative tourism, boosting economic growth, protecting biodiversity, and preserving Africa’s cultural heritage.
About the Company: FARO is a recommerce fashion startup tackling textile waste in developed markets and unsustainable practices in Africa by acquiring unsold inventory from major brands and reselling them at discounted prices. Despite operating only four stores, FARO generated over $2 million in revenue in 2024, a remarkable result considering that it’s just breaking into the industry.
What’s Next? With the new capital injection, the company intends to scale its operations to 1,000 stores within a decade and expand into other African markets.
About the Company: Ilara Health is a health care startup company that provides equipment and resources support for private outpatient clinics in peri-urban and rural areas, offering diagnostic devices, health management systems, and pharmaceuticals. It currently serves over 3,000 clinics in Kenya.
What’s Next? The funding will help Ilara Health improve service delivery, enabling private outpatient clinics to provide better treatments for patients in rural areas. The company is also working on introducing working capital loans of up to $15,000 for clinics to enhance patient care.
This initiative, in partnership with Co-Creation Hub, aims to transform learning and improve access to quality education across Africa by supporting EdTech startups with innovative solutions. The program seeks startups creating tools for interactive learning, educational content, learning management systems, or platforms that bridge gaps in accessibility and affordability.
Eligibility: Open to early-stage EdTech startups focused on African markets. Deadline: January 31, 2025 Apply Here
Organized by the UAE government, this program offers founders, investors, skilled professionals, and exceptional students the opportunity to relocate to Abu Dhabi under a comprehensive incentive scheme. Entrepreneurs will gain access to capital, infrastructure, and a thriving tech ecosystem.
Eligibility: Open to founders and teams working on innovative tech solutions in any industry. Deadline: February 1, 2025 Apply Here
A collaboration between Delta40 Venture Studio and Lemelson Foundation, this 10-month program is designed for entrepreneurs developing sustainable energy and mobility solutions in underserved regions. The program aims to foster the development of transformative technologies that address energy access and mobility challenges.
Eligibility: Startups and founders working on innovative solutions in clean energy, electric mobility, or energy-efficient transportation. Deadline: February 7, 2025 Apply Here
This award recognizes 15 exceptional women entrepreneurs working on transformative solutions in the health and food sectors. The initiative aims to empower women driving sustainable innovations that address pressing global challenges.
Eligibility: Women entrepreneurs from Asia, Latin America, Africa, and the Middle East addressing challenges in health, agriculture, and food systems. Deadline: February 18, 2025 Apply Here
Visa Accelerator Program (Cohort IV)
Visa’s accelerator program is geared toward supporting African startups with innovative, market-ready solutions in digital payments, e-commerce, financial inclusion, and fintech. The program offers resources to refine their products and grow their customer base.
Eligibility: Open to seed to Series A stage startups with established MVPs (Minimum Viable Products). Deadline: March 15, 2025 Apply Here
