Grace Ashiru
Selected recipients of Google’s Black Founders Fund reveal to TechCabal their strategy to utilize the fund to amplify their business impact and ensure continued growth.
Google recently announced its list of 25 African startups that would benefit from non-equity funding of up to $150,000 and up to $200,000 in Google Cloud credits as part of the Google Black Founders Fund (BFF). Now in its third year, the BFF is a $4 million fund designed to bridge the funding chasm faced by black and female founders globally. The selected startups will also benefit from advertising support, mentoring from industry experts, and a foot in the door of Google’s network. Here is an overview of some of these startups and their plans for the BFF:
Fez Delivery
The fund has fulfilled its commitment to support female-led startups, with 72% of the beneficiaries being led or co-founded by women. Fez Delivery, a last-mile logistics company based in Nigeria, is one of these female-fronted startups.
The Fez Delivery’s founder, Seun Alley, expressed that the BFF would empower her startup to enhance its product offering and its mission to serve Africa’s diaspora community. “Google’s extensive resources and industry experts will serve as the fuel to power efficient last mile operations in Nigeria. Google’s features like Maps will enable us to deliver with precision to even the most remote locations, improving our zoning operations,” she informed TechCabal.
Herconomy
Herconomy, a Nigerian fintech company that offers core banking solutions for African women, plans to use the fund to bolster its current operations. Founder and CEO Ife Durosimi-Etti told TechCabal, “Herconomy will secure a microfinance bank license, which will allow us to reach and empower more women, including those in underserved communities, with necessary financial services for success.”
Zydii
Zydii, a Kenyan ed-tech startup, develops localized courses to improve the skills of African workers through an online and offline platform in collaboration with local experts.
Zydii’s founder, Joyce Mbaya, explained that working with Google, networking with other founders, and receiving funding motivated her to apply for the BFF. She noted that the fund would facilitate Zydii’s expansion of services and market presence in Kenya, Nigeria, and South Africa.
Raenest
This year’s BFF beneficiaries span eight African countries and industries such as healthcare, construction, legal services, and fintech. Victor Alade, the CEO and co-founder of Raenest—a fintech company that helps startups and freelancers receive international payments—said that the funding arrived at the perfect time for their planned expansion.
truQ
For startups, gaining support from the BFF can be a major pre-seed funding boost. For truQ’s founder, Williams Fatayo, it took three applications to secure this coveted backing. truQ, a logistics infrastructure provider, links businesses and individuals to logistics firms and vehicles through AI.
Fatayo described to TechCabal how the funding, access to Google’s resources, and the founder community would significantly catalyze truQ’s journey and vision. “Securing up to $150,000 in non-equity funding significantly contributes to our $1 million seed round fundraise, while the potential $200,000 in Google Cloud credits will substantially offset our infrastructure costs,” he elaborated.
