Hello there,
Welcome to another edition of 🔍 Startup Researcher - Africa, your essential digest delivering the latest news and premium insights on startups and venture capital across the region 🌍
If you haven't subscribed yet, now's the perfect time. Don't miss the opportunity to supercharge your understanding and stay ahead in this dynamic world.
Ready? Let’s get right into it.
📰 Important News
- Bosun Tijani was elected vice-chair of the ITU Council for 2025–2026, giving Nigeria its first leadership role on the council in nearly 50 years.
- Mastercard partnered with Enza to enable embedded payment solutions, driving digital growth and financial inclusion for African fintechs.
- Sabi pivoted to TRACE, a blockchain platform for tracing African minerals and agricultural exports, boosting ESG compliance and transparency.
- Chpter expanded into 11 new African markets via Flutterwave, adding AI services and launching Pluto for chat commerce on WhatsApp and Instagram.
- Swypex launched its Approval-based Limits Card in Egypt, enabling real-time transaction control to reduce SME overspending in a cash-heavy market.
💸 Top Funding Rounds
- Wetility raised $30 million from Jaltech to expand solar in South Africa, adding 16 MW of capacity and powering over one million homes and SMEs.
- Nawy secured $23 million in debt to scale its mortgage product and grow its digital real estate services in Egypt.
- Octane attracted $5.2 million to expand its fleet payment platform across MENA, serving 250,000 vehicles.
- PaidHR raised $1.8 million to expand its payroll platform with 49 currencies for African SMEs.
- Open Access Energy landed $1.8 million to scale its EnergyPro platform and support clean energy in South Africa.
💰️ Notable Exits
- LemFi acquired UK-based Pillar to expand into migrant credit services using Pillar’s FCA license and credit infrastructure in key markets.
- iSchool acquired SEEDS to expand bilingual STEM and AI education in Saudi Arabia, offering workplace upskilling without bank reliance.
🏦 About Investors
- Endeavor Catalyst launched a $300 million fund to invest in Series A–C startups in Africa, MENA, Latin America, and Southeast Asia.
🚀 Startup of the Week
Introducing our Startup of the Week 🏆
Wetility
Founded in 2019 by Vincent Maposa and Ikenna Oguguo in South Africa, Wetility empowers individuals and businesses with smart, user-friendly solar energy solutions aimed at achieving sustainable energy independence. With a mission to reduce reliance on traditional power sources, the company has grown through strategic partnerships and a diverse team driving innovation in decentralized clean energy. To accelerate its impact, Wetility recently secured $30 million in funding from Jaltech to expand its solar installations and bring reliable energy to over one million homes and SMEs.
💼 Investor of the Week
Introducing our Investor of the Week 🏆
Endeavor
Founded in 1997 by Linda Rottenberg and Peter Kellner in New York, Endeavor is a nonprofit that champions high-impact entrepreneurs in emerging markets by building global ecosystems, mentorship networks, and investment support. To sustain its mission-driven model, the organization launched Endeavor Catalyst in 2012, a rules-based co-investment fund that backs Series A to C startups, many of which go on to become unicorns outside the U.S. and China. Recently, Endeavor Catalyst launched a $300 million fund to continue investing in high-growth companies across Africa, MENA, Latin America, and Southeast Asia, reinforcing its role as one of the top early-stage funders globally.
🤑 Opportunity Radar
Call for Applications: Cartier Women’s Initiative Awards
Applications are now open for the Cartier Women’s Initiative Awards, a global program recognizing and funding women impact entrepreneurs who use business as a force for good. Selected fellows will receive access to funding, tailored mentorship, and a global community across nine world regions and one thematic Science & Technology Pioneer Award. The opportunity targets early-stage women founders from all sectors and countries, with the fellowship program beginning shortly after the selection. Apply now before the deadline closes at 2 p.m. CEST on June 24, 2025, and take your venture to the next level.
Thank you for joining us this week! We trust you found value in our latest edition. 🚀
Your feedback is invaluable to us, so please don't hesitate to share your thoughts. We're committed to continuously improving and delivering content tailored to your interests and needs 📩
Looking forward to staying connected and bringing you more exciting content next time!