Naked Secures $38M💰️

In partnership with

⟹ 🚀 STARTUPS WATCH 🚀 ⟸

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

Kotani Pay provides a seamless technology stack for blockchain protocols, dApps, and fintechs to integrate with local payment channels in Africa.

By offering reliable on-ramp and off-ramp services, Kotani Pay connects blockchain solutions to mobile money services, enabling broader financial inclusion across the continent. Unlock the future of digital payments with Kotani Pay. 🌍📲

Rise makes growing wealth easy with expertly curated dollar-denominated investments in US stocks, real estate, and fixed-income assets.

With 600,000+ users across five countries and $42M paid out, Rise helps you achieve your financial goals with ease and transparency. They also recently acquired their Kenyan equivalent, Hisa. 🌍📈.

CreditChek is revolutionizing financial inclusion across Africa with its innovative credit data platform. By enabling businesses to verify identity, income, and credit history through an API and no-code platform, CreditChek helps prevent bad debt and reduce high non-performing loans (NPLs).

Trusted by 100+ businesses, CreditChek streamlines credit assessment with tools like automated bank statement analysis, real-time identity verification, and historical credit insights. As Africa's financial services sector grows, CreditChek is driving reliable creditworthiness solutions to empower underserved populations and foster economic growth opportunities for the unbanked fostering economic empowerment across the region.

⟹ 💼 💰️ VENTURE CAPITAL WATCH 💼 💰️ ⟸

Here’s what happened this week in the VC Space:

• 👉 Naked raised $38M in a Series B2 round led by BlueOrchard, with backing from Hollard, Yellowwoods, IFC, and DEG. The South African insurtech uses AI and automation to offer digital insurance policies, delivering instant quotes in under 90 seconds. With 70% of vehicles uninsured in Africa, this funding will drive product expansion, enhance AI capabilities, and improve affordability, reshaping insurance access across the continent.

• 👉 MoneyHash secured $5.2M in pre-Series A funding led by Flourish Ventures to simplify payment orchestration in MENA and Africa. The Egyptian fintech integrates over 300 payment APIs across 100+ markets, helping merchants cut costs and boost revenue. With a 4x increase in processing volume last year, the funding will fuel its enterprise suite expansion and global growth.

• 👉 Moniepoint received a strategic investment from Visa, strengthening its mission to digitize African SMEs. Serving over 300,000 businesses, Moniepoint processed 5.2 billion transactions in 2023 and recently became a Unicorn. Visa’s backing will enable expansion of its payment and banking solutions, supporting financial inclusion for small businesses across Africa.

• 👉 SeamlessHR raised $9M from the Gates Foundation and Helios Digital Ventures to scale its HR and payroll solutions across 20 African countries. With over 2,000 enterprise clients and 300,000 employees served, the Nigerian HR tech plans to enhance workforce productivity through AI-powered tools and embedded finance offerings.

• 👉 Sevi secured funding from Renew Capital to expand its "stock now, pay later" platform for wholesalers and retailers. The Kenyan fintech bridges working capital gaps, ensuring suppliers are paid upfront while retailers access credit. Using AI for credit evaluation, Sevi is reshaping FMCG supply chains and driving financial inclusion.

👀 This week’s featured investor is AlphaCode Venture Partners. 👀

AlphaCode Venture Partners is a South Africa-based venture capital firm backed by Rand Merchant Investment Holdings (RMI) and Rand Merchant Bank Holdings (RMBH). Focused on early-stage fintech and technology-enabled businesses, AlphaCode is committed to reshaping financial services and adjacent industries across Africa. 🌍

With a clear mission to Identify. Partner. Grow., AlphaCode supports exceptional entrepreneurs by offering funding, strategic guidance, and a robust support network. Their portfolio includes transformative companies like Naked, Planet42, SweepSouth, and Prodigy Finance, which collectively drive innovation in insurtech, lending, agritech, and more.

Why AlphaCode Stands Out?

• $1.2B+ in student loans provided by Prodigy Finance, enabling emerging market students to attend top global universities. 🎓

• 15,000+ vehicles financed through Planet42, fostering mobility for underserved individuals. 🚗

• 20K+ work opportunities created via SweepSouth, uplifting previously unemployed and underemployed workers. 👷‍♀️

• Tech-driven impact: Protecting 160M banking transactions monthly through Entersekt’s security solutions. 🔐

With deep industry expertise, a commitment to sustainable growth, and a portfolio of companies delivering tangible impact, AlphaCode is driving Africa’s tech-enabled financial ecosystem forward.

👉 👉👉 Learn more about AlphaCode Venture Partners and their game-changing portfolio on SHA.

⟹ 📺️ MEDIA WATCH 📺️  ⟸

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

1. SA insurtech startup Naked raises $38m Series B2 round to accelerate expansion - Disrupt Africa

2. Bolt enters grocery delivery while others run for the door - Techcabal

3. Egyptian payment orchestration platform MoneyHash raises $5.2m pre-Series A funding  - Techcrunch

4. Visa makes strategic investment in Nigerian unicorn Moniepoint - Techcabal

5. Nigerian HR tech startup SeamlessHR raises $9m funding round - 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. I’m looking to engage more founders and investors in the ecosystem this year.

Thanks for reading. Have a great week ahead!

Gitonga, the Stoic Founder at StartupHub.Africa 🚀

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