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⟹ 🚀 STARTUPS WATCH 🚀 ⟸

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

Pharmacy Marts is a fast-growing health-tech platform in Egypt revolutionizing how pharmacies access medical supplies. By connecting pharmacies with suppliers through its digital marketplace, Pharmacy Marts streamlines the ordering process, enabling users to compare products, secure the best deals, and receive bundled deliveries within 24 hours.

With features like tailored payment plans and the region's first "Buy Now, Pay Later" financing solution, Pharmacy Marts empowers pharmacies to grow their businesses sustainably. Supporting categories from drugs to cosmetics, the platform is building an efficient pharmaceutical supply chain while enhancing accessibility and convenience for medical suppliers and pharmacies alike.

DigsConnect is Africa's largest platform for off-campus student accommodation, connecting students with landlords in a safe and secure environment. Founded in 2018 amidst student accommodation protests, the platform has matched over 50,000 young people with their ideal homes.

DigsConnect simplifies the rental process by allowing landlords to list properties for free, while students can search, inquire, and communicate via Digs Chat, ensuring transparency and security. With robust user verification and innovative features like detailed booking forms, DigsConnect creates a seamless experience for both landlords and tenants. Committed to community building and safety, the platform empowers students to find reliable housing across the continent.

CloudFret is a digital platform connecting shippers and carriers across Europe and Africa, optimizing transport operations and reducing empty truck returns. With over 6,000 trucks in its network, CloudFret offers an easy-to-use booking system that eliminates the need for calls or emails, providing secure delivery with a 99% service rate.

The platform uses AI to reduce costs for shippers, increase carrier revenues, and lower CO2 emissions. Offering Full Truck Load (FTL) and Less Than Truck Load (LTL) options, CloudFret ensures efficient, cost-effective, and environmentally friendly shipping solutions.

⟹ 💼 💰️ VENTURE CAPITAL WATCH 💼 💰️ ⟸

In this week's VC Watch, we start with a report from TechCrunch on how Y Combinator’s reduced focus on Africa has spurred YC alumni to launch local accelerators to fill the gap. One standout is Accelerate Africa, founded by Flutterwave’s Iyinoluwa Aboyeji, which has supported 20 startups and aims to become the “YC of Africa.” As foreign investment slows, traditional accelerators like CcHub and Flat6Labs are also pivoting to sustain the local ecosystem, highlighting the need for homegrown initiatives to nurture early-stage startups.

Impact credit fund Cauris Finance has secured a $40 million debt facility from a US-based institutional investor to bolster African fintechs delivering credit access to underserved small businesses and entrepreneurs. The fund, committed to fostering economic development and achieving social impact, aims to provide quality credit to 10 million businesses, driving Africa’s middle class and sustainable growth. Cauris leverages advanced technology and structured underwriting to deliver both financial returns and transformative social outcomes.

Nigerian fintech Billboxx has raised $1.6 million in a pre-seed funding round led by Norrsken Accelerator, Kaleo Ventures, 54 Collective, P2Vest, and Afrinovation Ventures. Founded in 2023 by Justus Obaoye and Abdulazeez Ogunjobi, Billboxx addresses cash flow challenges for SMEs through invoice financing and business banking solutions, processing over ₦1 billion monthly with no defaults. The funding will support scaling operations, hiring talent, and expanding product features, including a new tool to connect SMEs with corporate market opportunities. Billboxx aims to become Africa’s financial operating system for SMEs.

👀 This week’s featured investor is Camel Ventures. 👀

Camel Ventures is Egypt’s first venture debt and fintech-focused investment vehicle, established in 2021. The firm takes inspiration from camels, which symbolize endurance, persistence, and strength in Arabic culture—qualities Camel Ventures seeks in its portfolio startups. Targeting markets in Africa and Asia, Camel Ventures aims to back resilient and innovative enterprises while delivering prosperity and exploration opportunities for its investors.

Backed by institutions like dfin Holding and Al Ahly Capital Holding, Camel Ventures provides financing solutions tailored to startups in fintech and related sectors. With investments in companies like Khazenly, PharmacyMarts, and Klickit, the firm supports a diverse portfolio while advancing innovation in logistics, healthcare, and education.

Their mission? To foster the growth of sustainable, discovery-driven enterprises, nurturing startups that embody patience, reliability, and adaptability for long-term success. 🌍💡

⟹ 📺️ MEDIA WATCH 📺️  ⟸

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

1. CBN fines Moniepoint and OPay ₦1 Billion each as Nigeria tightens fintech regulation - Techcabal

2. Impact credit fund Cauris Finance announces $40m debt facility for African fintechs - Disrupt Africa

3. As YC retreats from Africa, alumni launch accelerators to fill the gap - TechCrunch

4. Nigerian fintech Billboxx raises $1.6 million in pre-seed from Norrsken, 54 Collective - Techcabal

5. Kenya’s SunCulture, Turaco partner to build farmers’ resilience against climate change - 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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