The monthly report summarizes Africa tech investment activity for December 2021. $216M was invested across 20 funding rounds. Gozem was upgraded to MINICORN status. New investors included New Markets Venture Partners, Globivest, and John Hancock Investments. The top funded business models over the last year were business payments solutions and sports betting platforms. Analyst picks included Gozem being upgraded to MINICORN, OfferZen, and SafeBoda being added to Editor's Pick.

1. TRACXN MONTHLY REPORT
DECEMBER 2021
AFRICA TECH

2. Africa Tech - December 2021 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Contents
2
Africa Tech Snapshot 3
Investment Snapshot 4
List of Funding Rounds 5
New Investors 8
Top Funded Business Models - last 1 year 10
New Analyst Picks 11
Acquisitions 14
Recent News 15

3. Africa Tech - December 2021 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Africa Tech Snapshot – December 2021
Africa Tech: Snapshot – December 2021
Note : "Investors" refers to "Institutional Investors" only
3
$216M
10
Overall Geo Stats
20
2
64
24
26
Funding Rounds $ Invested Analyst Picks
Gozem Upgraded to
MINICORN
New Investors
New Markets Venture
Partners
Globivest
Series A+ rounds Active Investors IPOs Acquisitions
Quench
FilKhedma
Top Funding Rounds Top Markets Top Investors Top Cities
Monthly Leader Board
Nairobi
(6 Rounds, $14.5M)
Lagos
(5 Rounds, $31.6M)
Cairo
(5 Rounds, $31.6M)
Johannesburg
(2 Rounds, $140M)
$70M - Series B
TymeBank (2012, Johannesburg, $193M)
$70M - Series B
TYME (2012, Johannesburg, $180M)
$31M - Series B
MAX (2015, Lagos, $39.6M)
$15M - Series B
uLesson (2019, Lekki, $25.6M)
Tencent
(3 Investments)
CDC Group
(2 Investments)
Flat6Labs
(2 Investments)
New Markets Venture
Partners
(2 Investments)
Banking Tech
TYME
RegTech
Entersekt
Logistics Tech
MAX
K-12 EdTech
uLesson
Market Size
Companies Covered 19,411
Funded Companies 2,252
Total Funding $7.3B
Funding in last 12 months $2.7B
Top Exits
IPOs 21
Acquisitions 223
Company Stage
Unicorns 2
Soonicorns 23
Minicorns 107
Editor Picks 980
Series A+ 280
Series C+ 51
Acqui-Hires 4
Deadpooled 1,881
Top Cities
Lagos (271 Rounds, $1.7B)
Cape Town (263 Rounds, $889M)
Top Investors
Flat6Labs (55 Investments)
Y Combinator (51 Investments)

4. Africa Tech - December 2021 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Investment Snapshot
Investment Snapshot of Africa Tech as of December 2021
Africa Tech: Investment Snapshot
4
# Rounds
$ Funding
Investment Trend Top Investments (December 2021)*
TymeBank
(2012, Johannesburg, $193M)
$70.0M - Series B Tencent
TYME
(2012, Johannesburg, $180M)
$70.0M - Series B Tencent
MAX
(2015, Lagos, $39.6M)
$31.0M - Series B Lightrock
uLesson
(2019, Lekki, $25.6M)
$15.0M - Series B Tencent
OfferZen
(2015, Cape Town, $5.1M)
$5.1M - Series A Base Capital
Gozem
(2017, Lome, $12.0M)
$5.0M - Series A Thunes
Kwara
(2003, Nairobi, $4.0M)
$4.0M - Seed Breega
Pariti
(2019, Nairobi, $3.4M)
$3.4M - Seed Harlem Capital Partners
CinetPay
(2016, Abidjan, $2.4M)
$2.4M - Seed Flutterwave
IndyGeneUS
(2020, Nairobi, $3.5M)
$2.0M - Seed
Paylend
(2019, Nairobi, $2.0M)
$2.0M - Seed Next Chymia Consulting
*Shows only the lead Investors

5. Africa Tech - December 2021 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
List of Funding Rounds (1/3)
List of Funding Rounds in Africa Tech in December 2021
Africa Tech: List of Funding Rounds
Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+), PE
5
LATE STAGE
Series C
SafeBoda (2014, Kampala, $227.0K)
Secure on-demand moto-taxi
Google
EARLY STAGE
$1.1M - Series A
Enda (2015, Nairobi, $1.4M)
Provider of sports shoes
Talanton
EARLY STAGE
$5.0M - Series A
Gozem (2017, Lome, $12.0M)
App-based ride-hailing aggregator & on-demand
service provider
Thunes, Bernhard Schulte INNOPORT, Liil Ventures,
Asia Africa Investment and Consulting,
EARLY STAGE
$5.1M - Series A
OfferZen (2015, Cape Town, $5.1M)
Candidate sourcing platform for developers
Base Capital
EARLY STAGE
$15.0M - Series B
uLesson (2019, Lekki, $25.6M)
Provider of online learning platform for school
students
Owl Ventures, TLcom Capital Partners, Founder
Collective, Tencent, Nielsen
EARLY STAGE
$31.0M - Series B
MAX (2015, Lagos, $39.6M)
Provider of on-demand hyperlocal delivery services
Lightrock, Global Ventures, Novastar Ventures, Yamaha
Motor, Proparco
EARLY STAGE
$70.0M - Series B
TYME (2012, Johannesburg, $180.0M)
Banking software suite for banks & financial
institutions
Tencent, CDC Group
EARLY STAGE
$70.0M - Series B
TymeBank (2012, Johannesburg, $193.3M)
Digital bank for individuals
Tencent, CDC Group
EARLY STAGE
Series B
Entersekt (2010, Stellenbosch)
KYC and payment fraud detection solutions for
financial instituions
Accel-KKR

6. Africa Tech - December 2021 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
List of Funding Rounds (2/3)
List of Funding Rounds in Africa Tech in December 2021
Africa Tech: List of Funding Rounds
Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+), PE
6
EARLY STAGE
Series A
FilKhedma (2014, Cairo)
Online platform to book household repairs
Cairo Angels
SEED STAGE
$100.0K - Angel
Sendchamp (2020, Lagos, $100.0K)
Provider of CPaaS API for enabling communications
SEED STAGE
$400.0K - Seed
Kamioun (2020, , $400.0K)
Online platform offering multi-category grocery
supplies
Janngo, Flat6Labs, Dakar Network Angels
SEED STAGE
$500.0K - Seed
Octamile (2021, Lagos, $500.0K)
AI-based insurance claim management solutions for
insurance & other businesses
EchoVC Partners, Verraki, Kesho Ventures, TRADE X,
Fiat Ventures, and 2 more
SEED STAGE
$1.6M - Seed
Teesas (2020, Ikeja, $1.6M)
App-based platform offering online courses for
students
Olivegreen Advisory Partners, Haresh Aswani
SEED STAGE
$2.0M - Seed
Wowzi (2019, Nairobi, $3.2M)
Provider of a platform offering software for influencer
marketing
4DX Ventures, Golden Palm Investments, LoftyInc
Capital Management, Future Africa, Christina Sass, and
3 more
SEED STAGE
$2.0M - Seed
Paylend (2019, Nairobi, $2.0M)
Online marketplace for point of sale financing
Next Chymia Consulting
SEED STAGE
$2.0M - Seed
IndyGeneUS (2020, Nairobi, $3.5M)
Developer of drugs and clinical disease management
solutions by using clinical and multi-omics data
SEED STAGE
$2.4M - Seed
CinetPay (2016, Abidjan, $2.4M)
Mobile money account aggregator
Flutterwave, 4DX Ventures

7. Africa Tech - December 2021 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
List of Funding Rounds (3/3)
List of Funding Rounds in Africa Tech in December 2021
Africa Tech: List of Funding Rounds
Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+), PE
7
SEED STAGE
$3.4M - Seed
Pariti (2019, Nairobi, $3.4M)
End-to-end freelance workforce management platform
for businesses
Harlem Capital Partners, Diverse Angels, Better
Ventures, Accelerated Digital Ventures, Basecamp
Fund, and 1 more
SEED STAGE
$4.0M - Seed
Kwara (2003, Nairobi, $4.0M)
Omnichannel banking solution for savings and credit
cooperatives
Breega, Launch Africa, The Raba Partnership, DOB
Equity, , and 7 more
SEED STAGE
Seed
WaffarX (2018, Cairo)
Online platform offering cashback and discounts on
multi-category products and services
Lobby Capital, A15
SEED STAGE
Seed
ShapShap (2017, Lagos)
App-based platform providing on-demand hyperlocal
delivery services
GreenTec Capital
SEED STAGE
Seed
Flex Finance (2019, Lagos, $200.0K)
App-based expense management solutions for
business travelers
LoftyInc Capital Management, Paradox Capital, Kairos
Angels, , Brett Kopf, and 3 more
SEED STAGE
Seed
Klickit (2017, Cairo)
Payment management and digital collection platform
for institutions
EFG Hermes, Camel Ventures
SEED STAGE
Seed
beXel (2019, Cairo)
Cloud based quality management software provider
John Hancock Investments, Flat6Labs,
SEED STAGE
Seed
Plstka (2020, Tanta)
App-based platform for household waste collection
Alexandria Angels, Hivos

8. Africa Tech - December 2021 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
New Investors (1/2)
List of New Investors in Africa Tech in December 2021
Africa Tech: List of New Investors
8
Investor Company Info Round Amount Round Name
New Markets Venture Partners
40 portfolio companies | Tech and Life Sciences focused early and growth stage
VC firm investing in the US
Pariti
End-to-end freelance workforce management platform for businesses
$3.43M Seed
Globivest
3 portfolio companies | Stage-agnostic tech-focused VC firm investing in
geographies such as Europe
Kwara
Omnichannel banking solution for savings and credit cooperatives
$4.00M Seed
Kesho Ventures
1 portfolio companies | Venture capital firm focused on fintech, healthtech, and
insurtech sectors
Octamile
AI-based insurance claim management solutions for insurance & other
businesses
$500K Seed
Lightrock
41 portfolio companies | Private equity company investing in sustainable
businesses
MAX
Provider of on-demand hyperlocal delivery services
$31.00M Series B
John Hancock Investments
1 portfolio companies | Funds investment management firm
beXel
Cloud based quality management software provider
Undisclosed Seed
Talanton
2 portfolio companies | Private equity fund focused on small and medium-sized
businesses
Enda
Provider of sports shoes
$1.10M Series A
Janngo
1 portfolio companies | Venture capital fund and venture studio focused on
multiple sectors
Kamioun
Online platform offering multi-category grocery supplies
$400K Seed
Bernhard Schulte INNOPORT
3 portfolio companies | Venture capital firm focused on seed stage startups
Gozem
App-based ride-hailing aggregator & on-demand service provider
$5.00M Series A
Flutterwave
1 portfolio companies | Payment processing solutions for businesses
CinetPay
Mobile money account aggregator
$2.40M Seed
Accelerated Digital Ventures
33 portfolio companies | Seed centric tech-focused VC firm funding companies
in the UK
Pariti
End-to-end freelance workforce management platform for businesses
$3.43M Seed

9. Africa Tech - December 2021 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
New Investors (2/2)
List of New Investors in Africa Tech in December 2021
Africa Tech: List of New Investors
9
Investor Company Info Round Amount Round Name
cmcventures.com
1 portfolio companies |
Gozem
App-based ride-hailing aggregator & on-demand service provider
$5.00M Series A
Paradox Capital
1 portfolio companies | Venture capital fund focused on early-stage companies
Flex Finance
App-based expense management solutions for business travelers
Undisclosed Seed
Fiat Ventures
1 portfolio companies | Venture capital fund focused on early-stage fintech
startups
Octamile
AI-based insurance claim management solutions for insurance & other
businesses
$500K Seed
Camel Ventures
2 portfolio companies | Venture capital fund focused on fintech startups
Klickit
Payment management and digital collection platform for institutions
Undisclosed Seed
Dakar Network Angels
1 portfolio companies | Angel network investing in the WAEMU region
Kamioun
Online platform offering multi-category grocery supplies
$400K Seed
Breega
71 portfolio companies | Tech focused seed stage VC firm investing in Europe &
North America
Kwara
Omnichannel banking solution for savings and credit cooperatives
$4.00M Seed
emergeaccelerator.com
1 portfolio companies |
Kwara
Omnichannel banking solution for savings and credit cooperatives
$4.00M Seed
Lobby Capital
1 portfolio companies | Venture capital firm investing in multiple sectors
WaffarX
Online platform offering cashback and discounts on multi-category
products and services
Undisclosed Seed
TRADE X
1 portfolio companies | Automotive B2B trading solution for auto dealers
Octamile
AI-based insurance claim management solutions for insurance & other
businesses
$500K Seed
Harlem Capital Partners
26 portfolio companies | Seed & Early stage offline-focused VC firm funding
companies in the US
Pariti
End-to-end freelance workforce management platform for businesses
$3.43M Seed

10. Africa Tech - December 2021 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Top Funded Business Models - last 1 year
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1
year.
10
Rank Business Model $ Funding # Rounds Top Funding Round
1 ▲33 Business Payments Solutions $562M 8 OPay | $400M | Series C
2 <> 0 Sports Betting Platforms $293M 1 BetKing | $293M | Series C
3 <> 0 Sports Betting Platforms $293M 1 BetKing | $293M | Series C
4 ▲56 Digital Wallets $235M 11 MNT Halan | $120M | Series A
5 -- Banking Software Suite $190M 3 TYME | $110M | Series B
6 -- KYC for Financial Institutions $180M 2 TYME | $110M | Series B
7 ▼-2 Informal Distribution $124M 3 TradeDepot | $110M | Series B
8 -- Internet First Lenders $120M 1 MNT Halan | $120M | Series A
9 ▼-8 Internet First Loans Marketplace $120M 1 Jumo | $120M | Series D
10 ▲11
B2B E-Commerce > Technology Enablers > E Commerce
Software Suite
$110M 1 TradeDepot | $110M | Series B

11. Africa Tech - December 2021 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
New Analyst Picks (1/3)
Interesting Companies identified by Analysts in Africa Tech in December 2021
Africa Tech: Analyst Picks
11
Upgraded to MINICORN
Gozem (2017, Lome, $7.0M, Seed)
App-based ride-hailing aggregator & on-demand
service provider
Play Ventures, , Asia Africa Investment and Consulting
and 7 other Investors
Upgraded to MINICORN
OfferZen (2015, Cape Town, $5.1M, Series A)
Candidate sourcing platform for developers
Base Capitaland
Added to Editor's Pick
SafeBoda (2014, Kampala, $227K, Seed)
Secure on-demand moto-taxi
Unbound, Go Venture, DG Ventures and 7 other
Investors
Added to Editor's Pick
Pariti (2019, Nairobi, $3.4M, Seed)
End-to-end freelance workforce management platform
for businesses
Better Ventures, Harlem Capital Partners, Kepple Africa
Ventures and 6 other Investors
Added to Editor's Pick
Sakneen (2019, Cairo, $1.1M, Seed)
Online real estate platform to buy and sell residential
properties
Foundation Ventures, Algebra Ventures, Hem + Spire
and 2 other Investors
Added to Editor's Pick
CinetPay (2016, Abidjan, $2.4M, Seed)
Mobile money account aggregator
Flutterwave,Catapult,4DX Venturesand
Added to Editor's Pick
MVX (2019, , $100K, Seed)
Offers tech-enabled freight forwarding services
Oui Capital, , Kepple Africa Ventures and 5 other
Investors
Added to Editor's Pick
Octamile (2021, Lagos, $500K, Seed)
AI-based insurance claim management solutions for
insurance & other businesses
Verraki, Dale Mathias, Fiat Ventures and 4 other
Investors
Added to Editor's Pick
Wicrypt (2018, Enugu, $5.5K, Seed)
Wireless hotspot cryptocurrency mining
Cardano, CHAIN CAPITAL, PolkaFoundry and 8 other
Investors
Added to Editor's Pick
Sparkle (2019, Lagos, $3.1M, Seed)
Digital bank for consumers and businesses
Leadway Assurance,AG Rhino Advisors,Triumand

12. Africa Tech - December 2021 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
New Analyst Picks (2/3)
Interesting Companies identified by Analysts in Africa Tech in December 2021
Africa Tech: Analyst Picks
12
Added to Editor's Pick
Rise (2019, Lagos, $20.0K, Seed)
App-based investment platform for stocks, real estate,
and fixed income assets
Techstars,Western Unionand
Added to Editor's Pick
Sendbox (2016, Lagos, $1.8M, Seed)
Web-based application for on-demand delivery
management services
Enza Capital, Microtraction, Kepple Africa Ventures and
8 other Investors
Added to Editor's Pick
Flex Finance (2019, Lagos, Undisclosed, Seed)
App-based expense management solutions for
business travelers
LoftyInc Capital Management, BFA Global, Brett Kopf
and 8 other Investors
Added to Editor's Pick
Kamioun (2020, , $400K, Seed)
Online platform offering multi-category grocery
supplies
Janngo,Dakar Network Angels,Flat6Labsand
Added to Editor's Pick
AfriEcoFeeds (2018, Arusha, Unfunded)
Developer of plant food waste-based animal feed
products
ClimateLaunchpadand
Added to Editor's Pick
Savannah Informatics (2012, Nairobi, Unfunded)
Digital telehealth solution for healthcare professionals
Added to Editor's Pick
PayQuid (2021, Port Harcourt, Unfunded)
Online platform for cash withdrawal
FasterCapitaland
Added to Editor's Pick
Nibox (2016, Abuja, Unfunded)
Multi-platform payment solutions for individuals and
businesses
Inclusive Fintech 50and
Added to Editor's Pick
Paylend (2019, Nairobi, $2.0M, Seed)
Online marketplace for point of sale financing
Next Chymia Consultingand
Added to Editor's Pick
Chamasure (2021, Nairobi, $11.5K, Grant (prize
money))
Cloud-based health and funeral insurance solutions for
individuals
Added to Editor's Pick
HIT RADIO (2014, Rabat, Unfunded)
Online platform for streaming radio stations
Added to Editor's Pick
Global Access (1995, Sandton, Unfunded)
Provider of queue management solutions

13. Africa Tech - December 2021 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
New Analyst Picks (3/3)
Interesting Companies identified by Analysts in Africa Tech in December 2021
Africa Tech: Analyst Picks
13
Added to Editor's Pick
Genesis MCN (2021, Nairobi, Unfunded)
YouTube multi-channel network
Added to Editor's Pick
Crater 365 (2019, Suru-lere, Unfunded)
Cloud-based platform for workflow automation

14. Africa Tech - December 2021 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Acquisitions
List of Acquisitions in Africa Tech in December 2021
Africa Tech: Acquisitions
14
Acq. Date Company Acquirer Deal Size
02 Dec 2021
Quench(2016, Stellenbosch)
Platform offering on-demand grocery delivery
TFG
18 Dec 2021
FilKhedma(2014, Cairo)
Online platform to book household repairs
SweepSouth

15. Africa Tech - December 2021 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Recent News (1/2)
Recent News in Africa Tech in December 2021
Africa Tech:News
15
Exit News
.
● Fintech partnership to drive payments across global markets ITWeb
.
● Nigeria’s Helium Health moves into Middle East with Meddy acquisition Disrupt
Africa
.
● SweepSouth fully acquires Filkhedma WriteCaliber
.
● Egypt online tutoring platform Tyro acquires edtech Nafham Tech In Africa
.
● TFG buys delivery app Quench to bolster omni-channelITWeb
.
● SA fintech startup Adumo acquires alternative payments provider SwitchPay
Disrupt Africa
.
● Aumet acquires Egypt's Platform One Wamda
.
Fund News
.
● Berlin’s embedded insurance solution hakuna closes €1.5 million pre-seed
roundTech.eu
.
People News
● Kenyan e-health startup Zuri Health launches in Senegal Africa Business Communities

16. Africa Tech - December 2021 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Explore more on Tracxn
Explore more about Africa Tech on Tracxn Platform
Africa Tech: Explore more on Tracxn Platform
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Funded Companies
Editor's Pick
Soonicorn Club
SaaS Companies in Africa
AI Companies in Africa
Fintech Companies Africa
Consumer Digital in Africa
Company Due Diligence
Detailed profile of OPay
Competitors of Swvl
Cap Tables of
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Mega Investments Rounds
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