Rinchi
TechInAfrica – TechInAfrica – These past few years have been the years for African startups, especially in the tech scene. African startups in various sectors, such as healthcare, education, agriculture, logistics, finance, and so on, continue to receive financial support from both local and global angel investors.
On this article, we will present African startups that have raised over $1 million dollar in 2019 as quoted from Maxim Bayen’s LinkedIn post. Here are the startups:
| No | Startups | Country | Year of Launch | Sector | Investment Amount | Investors |
| 1 | The Sun Exchange | South Africa | 2014 | Energy | $1 Million | ICO |
| 2 | RapidDeploy | South Africa | 2014 | eGov | $12 | GreatPoint Ventures, Samsung Next |
| 3 | Wealth Migrate | South Africa | 2009 | Housing | $2.2 Million | Crowdfunding |
| 4 | WhereIsMyTransport | South Africa | 2008 | Logistics & Transportation | $1.9 Million | Liil Ventures, Goodwell Investments |
| 5 | Flow | South Africa | 2018 | Housing | $1.5 Million | Kalon Venture Partners, CRE Venture Capital |
| 6 | Retail Capital | South Africa | 2010 | FinTech | $41.7 Million | Crossfin |
| 7 | Aerobotics | South Africa | 2014 | Agriculture | $2 Million | Paper Plane Ventures |
| 8 | Valr | South Africa | 2018 | FinTech | $1.5 Million | Bittrex |
| 9 | Flexclub | South Africa | 2018 | FinTech | $1.2 Million | CRE Venture Capital, Montegray Capital, Savannah Fund |
| 10 | Centbee | South Africa | 2017 | FinTech | $1.3 Million | Calvin Ayre |
| 11 | Intergreatme | South Africa | 2016 | FinTech | $2.2 Million | Crowdfunding |
| 12 | GovChat | South Africa | 2016 | eGov | $1.4 Million | Capital Appreciation |
| 13 | TymeBank | South Africa | 2012 | FinTech | $13.8 Million | Ethos Artificial Intelligence |
| 14 | LulaLend | South Africa | 2014 | FinTech | $6.5 Million | IFC and Quona Capital with participation from Accion Venture Lab and Newid Capital |
| 15 | SweepSouth | South Africa | 2013 | Services | $2.1 Million | Naspers Foundry |
| 16 | Inclusivity Solutions | South Africa | 2015 | FinTech | $1.6 Million | Goodwell Investments, Allan Gray, RGAx |
| 17 | Enko Education | South Africa | 2013 | Education | $1.4 Million | LiquidAfrica |
| 18 | Kalido | South Africa | 2016 | Jobs | $2 Million | HCL Technologies |
| 19 | Nomanini | South Africa | 2011 | FinTech | $4 Million | Standard Bank, Goodwell Investments |
| 20 | Andela | Nigeria | 2014 | Education | $100 Million | Generation Investment Management; Xhan Zuckerberg Initiatve, Google Ventures, Spark Capital, and CRE Venture Capital |
| 21 | TeamApt | Nigeria | 2015 | FinTech | $5.5 Million | Quantum Capital Partners |
| 22 | OneFi | Nigeria | 2012 | FinTech | $5 Million | Lendable |
| 23 | Farmcrowdy | Nigeria | 2016 | Agriculture | $1 Million | Cox Enterprises, Techstars, Ajayi Solutions |
| 24 | Kudi | Nigeria | 2017 | FinTech | $5 Million | Partech Partners, Michael Seibel, Khosla Ventures, Y Combinator |
| 25 | mDaaS | Nigeria | 2016 | Healthcare | $1 Million | Consonance Investment Managers |
| 26 | Gokada | Nigeria | 2018 | Logistics & Transport | $5.3 Million | Rise Capital, Adventure Capital, First MidWest Group, IC Global Partners |
| 27 | Max | Nigeria | 2015 | Logistics & Transport | $7 Million | Novastar Ventures, Yamaha Motor, Breakthrough Energy Ventures, Zrosk Investment Management, Goodwell Investments |
| 28 | Arnergy | Nigeria | 2013 | Energy | $9 Million | Breakthrough Energy Ventures, Norfund, EDFI ElectriFI and All On |
| 29 | Opay | Nigeria | 2011 | FinTech | $50 Million | Sequoia China, IDG Capital, Source Code Capital, Opera |
| 30 | 54gene | Nigeria | 2018 | Healthcare | $4.5 Million | Y Combinator, Fifty Years, Better ventures, KdT Ventures, Hack VC, Techammer |
| 31 | TechAdvance | Nigeria | 2009 | FinTech | $1 Million | Lamar Holding |
| 32 | Kobo360 | Nigeria | 2016 | Logistics & Transport | $30 Million | Goldman Sachs, Asia Africa Investment and Consulting, TLcom Capital, Y Combinator, IFC + Nigerian commercial banks |
| 33 | Kuda | Nigeria | 2017 | FinTech | $1.6 Million | Haresh Aswani, Ragnar Meitern |
| 34 | FairMoney | Nigeria | 2017 | FinTech | $11.1 Million | Flourish Venture, DST Global, Newfund Capital, Speedinvest, Le Studio VC |
| 35 | Shortlist | Kenya | 2014 | Jobs | $2 Million | Blue Haven Ventures, Zephyr Acorn, Compass Venture Capital and Rafiki |
| 36 | M-Tiba | Kenya | 2015 | Healthcare | $1.5 Million | AFD |
| 37 | Sokowatch | Kenya | 2013 | Retail | $2.5 Million | 4DX Ventures, Village Global, Lynett Capital, Golden Palm Investment, Outlierz Ventures |
| 38 | Twiga Foods | Kenya | 2014 | Agriculture | $5 Million | Creadev |
| 39 | Lynk | Kenya | 2015 | Jobs | n.a | Lateral Capital, Cornerstone Group |
| 40 | Lori Systems | Kenya | 2016 | Logistics & Transport | $8.7 Million | n.a |
| 41 | MyDawa | Kenya | 2017 | Healthcare | $3 Million | Africa Healthcare Master Fund |
| 42 | ArabyAds | Egypt | 2013 | Retail | $6.5 Million | Equitrust |
| 43 | Yumamia | Egypt | 2014 | Retail | $1.5 Million | Pure Consulting |
| 44 | Swvl | Egypt | 2017 | Logistics & Transport | $42 Million | Vostock, BECO Capital, MSA, Endeavor Catalyst |
| 45 | MoneyFellows | Egypt | 2014 | FinTech | $1 Million | 500 Startups and Dubai Angel Investors |
| 46 | SolarNow | Uganda | 2011 | Energy | $9 Million | SunFunder, with Oikocredit and responsibility |
| 47 | Tugende | Uganda | 2012 | FinTech | $5 Million | PG Impact Investments |
| 48 | Neopenda | Uganda | 2015 | Healthcare | $1 Million | Axel Johnson Inc and SUNU Capital |
| 49 | Safeboda | Uganda | 2014 | Logistics & Transport | n.a | Allianz X |
| 50 | PEG Africa | Ghana | 2013 | Energy | $25 Million | CDC Group, SunFunder, responsibility, Energy Access Ventures, Blue Haven Initiative, repp. Energy, Total, Investisseurs & Partenaires, Acumen |
| 51 | mPharma | Ghana | 2013 | Healthcare | $13.5 Million | DX Ventures, Novastar Ventures |
| 52 | Redavia | Ghana | 2010 | Energy | $2 Million | Lendahand, InfraCo Africa, FactorEVentures |
| 53 | PEG Africa | Ghana | 2013 | Energy | $5 Million | ElectriFi |
| 54 | Daystar Power | Mauritius | 2017 | Energy | $26 Million | Verod Capital Management, Persistent Energy Capital LLC |
| 55 | PayItUp | Zimbabwe | 2017 | FinTech | $13 Million | Thawer Fund Management |
| 56 | InstaDeep | Tunisia | 2015 | Deeptech | $7 Million | AfricInvest, Endeavor Catalyst |
| 57 | Jibu | Tanzania | 2012 | Water | $1.5 Milion | DOB Equity |
| 58 | Rent To Own | Zambia | 2010 | FinTech | $1.1 Million | Seed Capital and Business Development facility of the Dutch Good Growth Fund (DGGF) |
From the data above, about 12% of these startups are co-founded by female entrepreneurs. These startups have cumulatively raised more than $520 million in 2019 from 120 different investors. Furthermore, most of the investments went to South African startups (19), followed by Nigeria (15), Kenya (7), Egypt, Uganda, and Ghana (4), and Zimbabwe, Tunisia, Tanzania, and Zambia (1).
