🦄 Unicorn Szn 🦄

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⟹ 🚀 STARTUPS WATCH 🚀 ⟸

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

Vesicash is a digital escrow service offering secure, simple, and affordable online payment solutions across Africa. Built on proprietary payment technology, Vesicash ensures safe transactions by acting as a trusted Merchant of Record (MoR). The platform enables businesses to expand into emerging markets without paperwork, providing a comprehensive payment infrastructure that includes tax compliance, fraud prevention, invoicing, and seamless fund transfers.

Vesicash’s services are designed to simplify global transactions, offering payment options like cards, bank transfers, mobile money, and more. By handling billing, tax obligations, and fraud, Vesicash allows businesses to focus on growth while ensuring secure and compliant operations.

Infibranches Technologies Limited is a tech-driven company focused on product development, business value chains, and agent network management. Its flagship product, OmniBranches, enhances trust and facilitates last-mile service delivery through a widespread agent network.

Infibranches provide access to financial and non-financial services, including renewable energy, fostering financial inclusion and improved energy access, especially in off-grid areas. Their technology-first approach enables seamless transactions and services like solar payments, bill payments, and airtime top-ups, driving a greener, more inclusive economy.

Hospitalia is an e-health services marketplace connecting patients with in-home healthcare providers for home visits or virtual consultations. Offering a seamless, patient-centric experience, Hospitalia provides access to a range of services, including home nursing, doctor visits, physiotherapy, and diagnostic labs.

The platform partners with top-tier healthcare providers to ensure quality care at home, allowing patients to receive personalized treatment without waiting. With a focus on convenience, cost-effectiveness, and continuous support, Hospitalia serves the MENA region, helping patients manage their healthcare needs from the comfort of their homes.

⟹ 💼 💰️ VENTURE CAPITAL WATCH 💼 💰️ ⟸

In this week's VC Watch, we are happy to announce the 9th African unicorn startup after South Africa’s Tyme Group raised $250 million in a Series D round, securing a $1.5 billion valuation. Led by Nu Holdings, the parent company of Nubank, with participation from M&G Catalyst Fund and existing investors, the funding underscores renewed investor interest in African fintechs, which dominate the continent’s unicorn landscape.

Launched in 2019, Tyme operates a hybrid banking model serving 15 million customers and has provided over $600 million in financing to small businesses in South Africa and the Philippines. With plans to expand into Indonesia, the latest funding bolsters Tyme’s position as a key player in emerging markets, bringing its total funding to $600 million.

South African fintech Sourcefin has secured $8.2 million from Futuregrowth Asset Management’s High Growth Developmental Equity Fund to expand its financing and supply chain solutions for small and medium-sized enterprises (SMEs). Founded in 2020 by Joshua Kadish, Sourcefin addresses critical gaps in SME financing, enabling businesses to overcome working capital challenges and fulfill purchase orders in the public and private sectors. With a technology-first approach, the company aims to reinvest the funding entirely into supporting SMMEs, reinforcing its mission to drive South Africa’s economic growth and empower the backbone of its economy.

Juicyway, a Nigerian cross-border payments startup, has raised $3 million in pre-seed funding to scale its operations and improve technology. Founded in 2021 by Ife Johnson and Justin Ziegler, Juicyway enables businesses to convert local currencies to foreign currencies for international transactions. The platform uses a hybrid of decentralized and traditional finance, allowing businesses to access foreign exchange (FX) through stablecoins like Tether and USDC. The company has processed over $1.3 billion in total payment volume since launching in stealth mode in 2021. Juicyway operates in Nigeria, the US, the UK, and Canada, with licenses in all four markets. The funding, led by P1 Ventures, Ventures Platform, and others, will help expand marketing, business development, and customer base growth in the coming months.

Moroccan B2B retail-tech startup Z has raised $1.05 million in seed funding to accelerate its tech development, expand its product catalog, and prepare for its next growth phase. Founded in 2022 by Meriem Benabad, Samer Choumar, and Youssef Ait-Haddouch, Z provides a B2B marketplace that connects traditional retailers and brands with consumers, enhancing competitiveness in the FMCG market. With over 15,000 active retailers and 800,000 orders since its launch, the company aims to empower small businesses across Morocco and Africa. The funding round was led by local VCs MNF Ventures, Witamax, Cash Plus Ventures, and Kalys Ventures.

👀 This week’s featured investor is Tana Africa Capital. 👀

Established in 2011, Tana Africa Capital is an Africa-focused investment company with over $650 million in capital raised. Founded by the Oppenheimer Family and Temasek Holdings, Tana aims to build sustainable African companies with a long-lasting impact.

The firm has made significant investments across sectors like agribusiness, FMCG, retail, education, and healthcare, with operations in over 20 countries across Africa. Managed by a diverse team based in Johannesburg and Abidjan, Tana's mission is to support businesses that contribute to Africa’s growth, helping them scale and thrive for generations.

Some of the key investments include Afrifruit, Interswitch, Promasidor, and Regina.

⟹ 📺️ MEDIA WATCH 📺️  ⟸

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

1. Tyme raises $250 million Series D to become Africa’s ninth unicorn - Techcabal

2. SA fintech Sourcefin raises $8.2m funding from Futuregrowth to boost access to SME finance - Disrupt Africa

3. Nigeria’s Juicyway raises $3 million to help businesses solve FX shortage problem - TechCrunch

4. Nigeria’s Juicyway raises $3 million to help businesses solve FX shortage problem - Techcabal

5. Moroccan B2B retail-tech startup Z raises $1.05m for further growth - 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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