Grace Ashiru
Launched originally in London in 2015, Founders Factory has evolved into a significant accelerating force within the African startup ecosystem. This dynamic accelerator and incubator is committed to the development of early-stage enterprises.
Founders Factory Africa offers startups a unique combination of strategic capital investment and hands-on operational support. This approach creates a fertile environment for startups to survive and thrive in a fiercely competitive market.
Founders Factory Africa, a venture studio and early-stage business accelerator, has received a significant boost after collecting an amazing $114 million in funding. This investment comes from a prestigious group of backers, including the Mastercard Foundation and Johnson & Johnson Impact Ventures, following earlier investments from Standard Bank, the Small Foundation, and Netcare.
With the new funding injection, Founders Factory Africa is poised to use this capital as a launchpad for its ambitious expansion plans. Currently boasting a portfolio of over 55 tech startups across 11 African countries, Founders Factory Africa plans to broaden its operations and scale its innovative model further, aiming to impact up to 140 tech startups across the continent with this fresh funding of its expansive portfolio.
Central to Founders Factory Africa’s mission is its dedication to empowering pre-Seed and Seed stage startups. The accelerator offers promising ventures a financial lifeline of up to $250,000.
It extends up to $150,000 in non-dilutive funds to all the companies within Founders Factory Africa’s diverse portfolio encompasses a variety of companies in the fintech and health tech sectors.
This includes Zurihealth, a digital healthcare platform based in Kenya; Asaak, an asset financing startup for East African drivers; Floatpays, a platform enabling early-wage access; and Fresh Source, an Egyptian food tech startup.
