Nadya Eka Lestari
TechInAfrica — Venture Capital for Africa (VC4A) has been selected 12 African startups to participate in the 2019 Series-A Venture Showcase. Among the 12 startups selected, 11 completed the Series-A funding and one has secured seed funding.
Founders of the 12 startups will showcase their business in front of investors at the Africa Early Stage Investor Summit (AESIS) in Cape Town on 13-14 November. They have a target to achieve funding between US$250,000 and US$5 million in Series-A capital.
The selected participants of the showcase are from 4 African countries: Nigeria, Egypt, South Africa, and Algeria and they are:
- Brimore (Egypt);
- Buseet (Egypt);
- CredPal (Nigeria)
- Crowdforce (Nigeria);
- FinChatBot (SA);
- FlexClub (SA);
- LifeBank (Nigeria);
- Mobiz (SA);
- SnapnSave (SA);
- Yassir (Algeria);
- VRapeutic (Egypt); and
- 7keema(Egypt).
The 12 startups were selected by 40 venture capitalists and multiple angel groups through a strict referral and selection process. They were expected to represent the best investment opportunities in Africa.
This showcase by VC4A will support the startups develops since they will get the opportunity to network with their mentors, peers, and partners, as they will deliver their pitches on the summit before. This event will expose the participants for possibly millions of dollars in funding and investments by corporates, investors, and tech professionals.
VC4A, which based in the Netherlands, is a growing community of business professionals from 159 countries committed to building innovative companies in Africa. The platform was founded in 2007 focuses on connecting startup entrepreneurs with the knowledge, support programs, mentors, and investors they need to excel in their businesses.
This year, investor participation has been noteworthy, with 40 major venture capitals and multiple angel groups in the intensive evaluation process. This kind of initiative is expected to support to build trust and nurture collaboration between industry stakeholders, and especially, create both co-investment chances and exit chances for partners.
Source: Nairametrics.com
