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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
- Arifpay became Ethiopia’s first licensed private switch operator, enabling real-time digital payments and driving fintech growth.
- UEMOA launched PI-SPI, a 24/7 interoperable instant payment system across its eight member states to boost inclusion, innovation, and integration.
- Kenya advanced the VASP Bill to committee stage, paving the way for regulated crypto markets with licensing and supervision rules.
- Morocco’s Trade Ministry partnered with Z.systems to digitize 50,000 retailers, and WOLIZ to modernize 90,000 merchants and 20,000 stores.
- Egypt’s FRA launched its first regulations for digital investment platforms to enable online access to private equity and venture capital funds.
💸 Top Funding Rounds
- Mawingu closed a $20 million Series C round to expand solar-powered internet in East Africa, aiming for one million users by 2028.
- Pura Beverage raised $14.9 million to scale its low-sugar sodas globally, focusing on U.S. growth and international distribution.
- Plstka raised $1 million to grow its AI-powered recycling platform in six new Egyptian cities and expand its user base.
- OKO secured six-figure funding led by Catalyst Fund to expand mobile crop insurance for African smallholder farmers.
- Sabika received six-figure backing from M-Empire Angels to expand its Sharia-compliant gold and silver platform into Saudi Arabia.
🏦 About Investors
- Lisk launched a $15 million EMpower Fund to support Web3 startups in emerging markets with capital, advisory, and tokenized access.
- SPIRE Atlas Fund I reached first close to back deeptech startups from Casablanca with Silicon Valley and Northwest Africa expertise.
- BFA Global named Prateek Shrivastava as Managing Director to lead inclusive finance and tech-driven development globally.
🚀Startup of the Week
Introducing our Startup of the Week 🏆
Kredete
Founded in New York in 2023, Kredete has quickly grown into a fintech force redefining how African immigrants build financial lives across borders. Originally launched to tackle remittance challenges, the startup now runs a rails and apps platform that combines payments, credit, and identity into one system, serving over one million monthly users and processing more than $1 billion to date. Its products span instant money transfers to more 25 African countries, virtual and stablecoin-backed credit cards, and a lending marketplace tied to 1,200 partners. Led by CEO Adeola Adedewe and CTO Hakeem Oriola, Kredete recently closed a $22 million Series A backed by AfricInvest, Partech, and others, reinforcing its mission to turn remittances into credit opportunities and a portable financial identity for the diaspora.
💼 Investor of the Week
Introducing our Investor of the Week 🏆
Algebra Ventures
Founded in Cairo in 2016, Algebra Ventures has grown into one of Africa’s most active venture capital firms, backing bold founders from seed to Series B across fintech, agritech, edtech, logistics, and healthcare. With two funds totaling over $150 million and more than 35 investments, the firm deploys tickets from $500,000 to $5 million, primarily in Egypt while extending its reach across Sub-Saharan Africa. Its portfolio includes standouts like YoLa Fresh, Sylndr, Khazna, and MNT-Halan, alongside more than seven exits. Led by Managing Partners Karim Hussein and Tarek Assaad, Algebra couples capital with operator-grade support, positioning itself as a trusted growth partner driving Africa’s next wave of transformative startups.
🤑Opportunity Radar
Call for Applications: The WSA Young Innovators program
Applications are now open for the WSA Young Innovators program, with a deadline on October 31, 2025. Open to participants worldwide and co-funded by the European Union, the program offers mentorship, global exposure, and access to an international innovation network. It targets young founders, students, and professionals under 26 developing impactful digital solutions. Apply now for a chance to pitch your project at the WSA Global Congress.
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