💰️ Everybody Gets Funding 2.0💰️

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⟹ 🚀 STARTUPS WATCH 🚀 ⟸

Here are the 5 top startups in the African eco-system we think you need to know:

Exuus is a Rwandan fintech startup providing inclusive financial solutions through its flagship product, SAVE. The platform offers personalized and group savings management, allowing users to save, earn up to 6% interest, and access financial services previously unavailable to the unbanked. Exuus aims to bridge the financial gap by empowering underserved communities with accessible financial tools.

Partnering with Access Bank and licensed by BNR, Exuus enables users to request instant, low-cost loans anytime and anywhere, even without internet access. The platform promotes good saving habits and provides a secure, inclusive solution to help users achieve financial goals and improve their financial resilience. 🌍💡📱

AION is an Egyptian startup specializing in smart home solutions that make living more convenient and affordable. With a focus on user-friendly technology, AION allows customers to control their homes remotely via a simple mobile app. The company’s flagship product, the AION Smart Switch, can transform any home into a smart home in just five minutes, offering a seamless experience for users looking to enhance their comfort and convenience.

AION stands out with its 5-year replacement warranty, 24/7 customer support, and Made in Egypt craftsmanship. The company listens to customer feedback, ensuring that its products are continuously improved. Backed by trusted partners, AION is revolutionizing home automation with innovative solutions that cater to the needs of modern homeowners. 🏠💡📱

Tripesa is transforming Africa’s tourism industry by providing an all-in-one, automated platform designed to streamline the tourism value chain. With a focus on Payments-first Business Process Management, Tripesa enables tour operators, hotels, event organizers, and experience providers to sell, manage, and accept payments in one secure, easy-to-use solution. By offering a no-code website builder, booking pages, and the ability to accept multicurrency payments, Tripesa simplifies the way businesses in the tourism sector operate.

With Tripesa, users can easily distribute tourism and hospitality products, manage payouts, issue booking vouchers, and collect essential business data. Whether you're in the travel, hospitality, or events sector, Tripesa ensures that your operations run smoothly and efficiently, driving growth while offering secure online transactions. Trusted by over 500 users and growing, Tripesa is the go-to solution for businesses looking to thrive in Africa’s evolving tourism market. 🌍💳📅

⟹ 💼 💰️ VENTURE CAPITAL WATCH 💼 💰️ ⟸

It has been another busy week for Venture Capital Watch, with approximately $11.5 million raised by African startups across the continent.

Francophone-focused fintech startup HUB2 has raised $8.4 million in Series A funding to scale its cross-border financial services across Africa. Founded in 2019, HUB2 provides a single API for seamless payments via mobile money, bank transfers, cards, and cryptocurrency, with partnerships including Wave, MTN, and Orange. Led by TLcom Capital and supported by FMO, Enza Capital, and others, the funding will accelerate HUB2’s expansion beyond its six current Francophone markets, aiming to unify payment systems across the region and establish itself as a leader in digital finance solutions.

Egyptian logistics startup Nowlun has raised $1.7 million in seed funding to drive expansion and enhance its freight-forwarding platform. Founded in 2021, Nowlun simplifies shipping by offering customers instant comparisons of ocean freight rates, real-time cargo tracking, and streamlined shipment management. The funding round, led by Nama Ventures and A15 with participation from Sanabil 500 Global, will support the startup’s mission to modernize logistics with cutting-edge technology and expand its reach across the region.

Moroccan urban mobility startup Enakl has raised $1.4 million in pre-seed funding to enhance sustainable transport solutions. Launched in 2023, Enakl aims to revolutionize daily commuting with a shared transit platform that reduces congestion and carbon emissions. The funding, led by Catalyst Fund, will help scale the platform in Morocco and beyond. With over 15,000 monthly bookings in Casablanca, Enakl plans to expand across Africa, leveraging AI to optimize routes and improve commuter experiences.

👀 This Week’s Featured Investor: Novastar Ventures 👀

Novastar Ventures is a global venture capital firm with offices in Lagos, London, and Nairobi focused on building sustainable and impactful businesses in Africa. Established in 2014, Novastar partners with entrepreneurs who are addressing the continent's most pressing challenges, to create lasting value for the many, not just the few, while benefiting both people and the planet.

Novastar Ventures invests in businesses that meet the basic needs of everyday consumers, particularly in informal markets, and supports ventures that have the potential to become valuable enterprises of the future. Their focus spans key industries such as electric transport, digital health, sustainable agriculture, and clean energy.

Key Focus Areas:

• Electric Buses: Supporting BasiGo, which is transforming the transport landscape in Africa.

• Digital Healthcare: Backing Elephant, working to digitize healthcare services.

• Sustainable Agriculture: Supporting companies like GreenPath and Komaza, driving regenerative farming solutions.

• Energy Solutions: Investing in ventures like SolarNow, which provides solar energy to underserved communities.

Core Values:

Novastar Ventures is committed to building generous relationships and being generative in its actions, always seeking partnerships that create meaningful impact. They prioritize understanding the unique business models that work within Africa’s market context, avoiding generic, "plug-and-play" solutions.

⟹ 📺️ MEDIA WATCH 📺️  ⟸

Here are the 5 key things in the news this week that you need to know:

1. Egyptian logistics startup Nowlun raises $1.7m seed funding - Disrupt Africa

2. AltSchool expands to Europe as it nears profitability - Techcabal

3. Francophone-focused fintech HUB2 raises $8.4m Series A round for scale - Disrupt Africa

4. Moroccan mobility startup Enakl raises $1.4 million in Catalyst Fund-led pre-seed round - Techcabal

5. Tanzanian fintech startup Tunzaa raises funding to help it scale - Disrupt Africa

And that’s your weekly dosage of the African startup ecosystem! If you have any comments or feedback, just respond to this email. We are always looking to hear from our community.

Thanks for reading. See you next week.

Gitonga, the Stoic Founder at StartupHub.Africa 🚀

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