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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 🌍
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📰 Important News
- Ten African fintechs, including OPay and PiggyVest, made CNBC’s 2025 global top 300, showing Africa’s fintech rise.
- Ethiopia passed its first Startup Law, providing legal clarity, tax incentives, and funding tools to boost innovation and attract tech investment.
- truQ CEO Williams Fatayo resigned following a co-founder conflict but remains on the board as the company transitions under new leadership.
- Sui Foundation launched SuiHub Lagos to empower African blockchain developers with education, mentorship, and top tools across the region.
💸 Top Funding Rounds
- Rwazi raised $12 million in Series A to scale its AI-driven market insights platform serving brands like Nestlé and Visa in 190+ markets.
- ORA Technologies closed a $7.5 million Series A round to grow its Moroccan superapp for payments, e-commerce, and logistics.
- PALM secured seven-figure pre-seed funding to build goal-based savings and inclusive investment tools in Egypt.
- MoneyBadger raised $400,000 to expand Bitcoin payments in South Africa via the Lightning Network.
- EATO secured undisclosed funding from Nubia Capital to connect African food SMEs to global markets with digital tools.
💰️ Notable Exits
- Engage Capital offered $24.5 million to acquire Lipa Later’s core assets following its collapse into administration, aiming to revive the BNPL platform and set a precedent for fintech turnarounds in Kenya.
- Tactful AI founders reacquired the company from Dstny to regain independence and drive expansion across the Middle East and Europe using their proprietary AI customer experience platform.
🏦 About Investors
- Village Capital launched a $4 million fund with local partners in Ghana, Nigeria, and Tanzania to back early-stage startups in economic mobility and climate resilience through ecosystem-led investing.
- Technopark Maroc and Azur Innovation Fund partnered to support Moroccan startups through funding, mentorship, and infrastructure, aiming to grow a nationally impactful innovation ecosystem.
- A15 hit 10x DPI from its first fund via 8 exits; now supports 40 MENA startups with a hands-on model blending capital and operational expertise.
🚀 Startup of the Week
Introducing our Startup of the Week 🏆
Nowlun
Founded in 2021 and headquartered in Alexandria, Egypt, Nowlun was launched by CEO Moataz Khamis, CTO Mahmoud Khaled, and COO Ahmed Emara, who bring deep expertise in logistics and technology. The company is transforming ocean freight logistics across MENA and Africa through an AI-powered digital platform that allows customers to instantly compare rates, track shipments, book cargo, and manage customs clearance—all in one place. To accelerate its growth and regional expansion, Nowlun recently closed its seed round at $2.3 million, including a $600,000 extension in June 2025 led by Ingressive Capital, with participation from A15, Nama Ventures, Sanabil 500 Global, and key angel investors.
💼 Investor of the Week
Introducing our Investor of the Week 🏆
LoftyInc Capital Management
Founded in 2017 and headquartered in Lagos, Nigeria, LoftyInc Capital Management was established by Idris Ayodeji Bello, along with partners Marsha Wulff and Michael Oluwagbemi, combining global investment expertise with deep African entrepreneurial roots. Focused on backing “Afropreneurs,” the firm supports tech-driven startups solving Africa-first problems across sectors like FinTech, HealthTech, ClimateTech, and AI, with over 230 investments spanning 37 countries and a track record that includes Flutterwave, Andela, and Reliance Health. In March 2025, LoftyInc marked a major milestone with the first close of its $43 million Alpha Fund—its largest yet—aimed at addressing Africa’s Series A funding gap, and recently led an investment into Salus Cloud, an AI-native DevSecOps platform, alongside P1 Ventures, Atlantica Ventures, and Zedcrest Group.
🤑 Opportunity Radar
Call for Applications: DTTT Accelerate Founders Programme
Applications are now open for the DTTT Accelerate Founders Programme, a co-created accelerator redefining tourism tech innovation and destination impact. Open to stage-agnostic startups across Africa and beyond, the program offers direct industry access, strategic partnerships, mentorship, global visibility, and exclusive DTTT Business Growth Membership benefits. Monthly co-creation sessions run from July to November 2025, with the application deadline set for July 31, 2025. If you're building solutions in AI, sustainability, spatial computing, or tourism innovation, apply now to help shape the future of travel tech.
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