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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
- Djamo’s Hassan Bourgi and Régis Bamba received Côte d’Ivoire’s Knight Medal for their fintech innovation and inclusion efforts.
- Nigeria appointed Iyinoluwa Aboyeji, Victoria Manya, Charles Uchenna Emembolu and Abba Ibrahim Gamawa, to guide the Startup Act and ecosystem growth.
- The Central Bank of Nigeria is set to enforce single-bank exclusivity, stricter compliance, and transaction caps to tighten oversight in agent banking.
- Flutterwave UK reported a $3 million loss in 2024 amid rising costs and expansion despite growing global revenue ambitions.
- Yango, Bboxx, and Kofa partnered to scale electric bike adoption among Ghana’s delivery couriers, combining financing, technology, and logistics.
💸 Top Funding Rounds
- MNT-Halan raised $71.4 million via its 7th securitized bond under a FRA-approved program to fund loan growth in Egypt.
- Tagaddod closed a $26.3 million Series A round led by The Arab Energy Fund to scale its biofuel platform and traceability technology globally.
- REasy secured $1.8 million to streamline cross-border payments for African SMEs in the BEAC region, expanding compliant trade access.
- POZI raised $760,000 led by Saviu Ventures to grow its AI telematics and fleet management across West Africa from Gabon.
💰️ Notable Exits
- Moniepoint acquired FCA-regulated Bancom Europe to secure a UK e-money license and EEA access, accelerating its European expansion.
- Optasia plans a $365 million JSE IPO to fund global growth, acquisitions, and drive financial inclusion across Africa, Asia, and Latin America.
- Logidoo acquired Kamtar to expand its West African logistics network and strengthen trade links between North and West Africa.
🏦 About Investors
- Cabo Verde launched the $28 million Morabeza Fund to support startups and position itself as a regional tech and innovation hub.
- IFC proposed a $6 million investment in Catalyst Fund to back African climate-tech startups using blended finance and gender-lens strategies.
- Equitable Ventures expanded its African fintech reach by appointing Hilda Moraa and Wesley Billett as venture partners.
- Kenya is planning to require large firms to channel part of CSR budgets into funding startups, creating a sustainable national innovation fund.
🚀Startup of the Week
Introducing our Startup of the Week 🏆
Flend
Founded in 2022 in Cairo, Flend is redefining SME finance as Egypt’s first licensed Digital NBFI, offering fast, collateral-free loans through embedded partnerships and data-driven workflows. Backed by a $3 million seed round led by Egypt Ventures with participation from Camel Ventures, Plus VC, and Banque Misr, Flend has built a digital lending infrastructure integrated into over 20 supply chain platforms across key sectors. Led by Ahmed Zaki, with co-founders Nehal Helmy, Saif Edeen El Bendari, and Dr. Mohamed El Beltagy, the fintech was selected for Visa’s Africa Fintech Accelerator in 2025. With a mission to close Egypt’s $50 billion SME financing gap, Flend is powering a more inclusive, efficient, and technology-driven financial ecosystem.
💼 Investor of the Week
Introducing our Investor of the Week 🏆
Sawari Ventures
Founded in 2010 and based in Giza, Sawari Ventures is one of North Africa’s pioneering venture capital firms, managing $70 million across two funds and backing over 20 startups from Seed to Series B. With ticket sizes between $250,000 and $5 million, it focuses on innovation-led tech ventures across fintech, edtech, healthtech, deeptech, and consumer internet. Its portfolio includes standout names like Swvl, MoneyFellows, Instabug, and Almentor, with exits such as Kngine’s sale to Samsung and Fatura’s acquisition by Tanmeyah. Led by Ahmed El Alfi and Hany Al-Sonbaty, Sawari blends disciplined capital with ESG-driven governance, positioning itself as a cross-border bridge linking North Africa’s tech ecosystem with global markets.
🤑Opportunity Radar
Call for Applications: The MassChallenge 2026 FinTech Challenge
Applications are open for the MassChallenge 2026 FinTech Challenge, a global program based in Boston, USA, designed for fintech and financial inclusion startups ready to scale. Selected founders will collaborate with top industry partners like MassMutual, Citizens, and The Hartford, gaining access to mentorship, corporate partnerships, and high-impact networking. The program runs from early 2026, with mandatory in-person matchmaking on January 13–14, 2026. Apply now to join a leading ecosystem driving innovation in financial services.
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