More Related Content Similar to Tracxn - Geo Monthly Report - Africa Tech - Feb 2022 (20) Tracxn - Geo Monthly Report - Africa Tech - Feb 20222. Africa Tech - February 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Contents
2
Africa Tech Snapshot 3
Investment Snapshot 4
List of Funding Rounds 5
New Investors 9
Top Funded Business Models - last 1 year 11
New Analyst Picks 12
Acquisitions 14
Recent News 15
3. Africa Tech - February 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Africa Tech Snapshot – February 2022
Africa Tech: Snapshot – February 2022
Note : "Investors" refers to "Institutional Investors" only
3
$283M
11
Overall Geo Stats
20
5
80
23
30
Funding Rounds $ Invested Analyst Picks
RelianceHMO
Upgraded to
SOONICORN
New Investors
CZI
Vastly Valuable
Ventures
Series A+ rounds Active Investors IPOs Acquisitions
ParkUpp
Wazo
Top Funding Rounds Top Markets Top Investors Top Cities
Monthly Leader Board
Cairo
(6 Rounds, $58.5M)
Lagos
(5 Rounds, $82.8M)
Nairobi
(5 Rounds, $82.4M)
Cape Town
(2 Rounds, $2.0M)
$40.0M - Series B
Reliance Health (2020, Lagos, $40.0M)
$40M - Series B
RelianceHMO (2017, Lagos, $48M)
$40M - Series B
Apollo Agriculture (2016, Nairobi,
$57.8M)
$40M - Series A
MarketForce360 (2017, Nairobi, $42.6M)
4DX Ventures
(2 Investments)
P1 Ventures
(2 Investments)
General Atlantic
(2 Investments)
M3
(2 Investments)
Internet First Insurance
Platforms
Reliance Health
B2B E-Commerce
MarketForce360
Alternative Lending
Apollo Agriculture
In Store Retail Tech
WafR
Market Size
Companies Covered 20,910
Funded Companies 2,342
Total Funding $8.6B
Funding in last 12 months $3.4B
Top Exits
IPOs 22
Acquisitions 236
Company Stage
Unicorns 3
Soonicorns 27
Minicorns 121
Editor Picks 1,022
Series A+ 291
Series C+ 54
Acqui-Hires 4
Deadpooled 2,003
Top Cities
Lagos (299 Rounds, $2.0B)
Cape Town (278 Rounds, $1.0B)
Top Investors
Y Combinator (67 Investments)
Flat6Labs (56 Investments)
4. Africa Tech - February 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Investment Snapshot
Investment Snapshot of Africa Tech as of February 2022
Africa Tech: Investment Snapshot
4
# Rounds
$ Funding
Investment Trend Top Investments (February 2022)*
Reliance Health
(2020, Lagos, $40.0M)
$40.0M - Series B General Atlantic
RelianceHMO
(2017, Lagos, $48.0M)
$40.0M - Series B General Atlantic
Apollo Agriculture
(2016, Nairobi, $57.8M)
$40.0M - Series B SoftBank Vision Fund
MarketForce360
(2017, Nairobi, $42.6M)
$40.0M - Series A V8 Capital Partners
Swvl
(2017, Cairo, $122M)
$21.5M - Series D EBRD
thndr
(2020, Cairo, $22.0M)
$20.0M - Series A Tiger Global Management
Nerhadou
(1996, Giza, $20.0M)
$20.0M - Series B Affirma Capital
PAIX
(2016, Sandton, $20.0M)
$20.0M - Series B Africa50
Wasla Browser
(2018, Cairo, $10.2M)
$9.0M - Series A CONTACT
Yalla Fel Sekka
(2019, Cairo, $9.5M)
$7.0M - Series A Flybridge Capital Partners
Nawy
(2004, , $5.0M)
$5.0M - Seed
*Shows only the lead Investors
5. Africa Tech - February 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
List of Funding Rounds (1/4)
List of Funding Rounds in Africa Tech in February 2022
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
$21.5M - Series D
Swvl (2017, Cairo, $122.0M)
App-based platform for shuttle services
EBRD
EARLY STAGE
$7.0M - Series A
Yalla Fel Sekka (2019, Cairo, $9.5M)
Offers a web-based B2B delivery service platform
DisruptAD, I Squared Capital, Flybridge Capital Partners
EARLY STAGE
$9.0M - Series A
Wasla Browser (2018, Cairo, $10.2M)
Provider of a web browser for Android devices
CONTACT
EARLY STAGE
$20.0M - Series B
PAIX (2016, Sandton, $20.0M)
Platform offering data center colocation services
Africa50
EARLY STAGE
$20.0M - Series B
Nerhadou (1996, Giza, $20.0M)
Developer of nutritional supplements and oral drug
delivery strips
Affirma Capital, StonePine Capital Partners
EARLY STAGE
$20.0M - Series A
thndr (2020, Cairo, $22.0M)
App-based platform for trading stocks
Tiger Global Management, BECO Capital, Prosus, The
Raba Partnership, Jimco, and 4 more
EARLY STAGE
$40.0M - Series A
MarketForce360 (2017, Nairobi, $42.6M)
Cloud based sales and distribution management
solution for businesses
V8 Capital Partners, TEN13, Reflect Ventures,
GreenHouse Capital, SOSV, and 5 more
EARLY STAGE
$40.0M - Series B
Apollo Agriculture (2016, Nairobi, $57.8M)
Online marketplace for farm loans
SoftBank Vision Fund, Exponential Ventures, Endeavor,
Flourish, Breyer Capital, and 5 more
EARLY STAGE
$40.0M - Series B
RelianceHMO (2017, Lagos, $48.0M)
Cloud-based health insurance platform for individuals
and businesses
General Atlantic, Picus Capital, M3, Asia Africa
Investment and Consulting, Arvantis Group, and 4
more
6. Africa Tech - February 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
List of Funding Rounds (2/4)
List of Funding Rounds in Africa Tech in February 2022
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
$40.0M - Series B
Reliance Health (2020, Lagos, $40.0M)
Online health insurance solutions for individuals and
businesses
General Atlantic, M3, PerTech Solutions, RailTel
Corporation of India, AAIC, and 2 more
EARLY STAGE
Series B
elmenus (2011, Maadi, $19.5M)
Online food ordering and delivery platform
Careem
SEED STAGE
$372.0K - Seed
WafR (2019, Casablanca, $372.0K)
Platform offering loyalty solution for offline businesses
SEED STAGE
$400.0K - Seed
Cart "n" Shop (2018, Nairobi, $400.0K)
Provider of eCommerce solution for businesses
SEED STAGE
$500.0K - Seed
Voyance (2019, Lagos, $500.0K)
AI-based data science platform
Beta.Ventures, Assembly Capital Partners, Zedcrest
Group, HoaQ, Chidinma Iwueke, and 3 more
SEED STAGE
$660.5K - Seed
Lipa Payments (2020, Sandton, $660.5K)
NFC-enabled POS solutions for merchants and
businesses
Imvelo Ventures
SEED STAGE
$696.0K - Seed
AVIDEA (2017, Tunis, $696.0K)
Insurance claims management solutions for the auto
insurance industry
Capsa Capital Partners, 216 Capital
SEED STAGE
$991.2K - Seed
Floatpays (2019, Cape Town, $5.1M)
Earned Wage Access provider
Naspers
SEED STAGE
$1.0M - Seed
Remedial Health (2020, Lagos, $1.1M)
Provider of a supply chain management software for
pharmacies and insurers
Global Ventures, Ventures Platform, Ingressive Capital,
Voltron Capital, Olugbenga GB Agboola, and 2 more
7. Africa Tech - February 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
List of Funding Rounds (3/4)
List of Funding Rounds in Africa Tech in February 2022
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
$1.0M - Seed
One Order (2022, Cairo, $1.0M)
Platform offering multi-category grocery for restaurant
businesses
A15
SEED STAGE
$1.0M - Seed
Wealth Migrate (2010, London, $11.4M)
Real estate investment platform
SEED STAGE
$1.3M - Seed
Duplo (2021, Lagos, $1.3M)
Open banking suite
Oui Capital, MyAsiaVc, Y Combinator, Olugbenga
Agboola, Abdul Hassan
SEED STAGE
$1.3M - Seed
cARscan (2020, Johannesburg, $1.3M)
AI & AR-driven mobile app provider for car condition
estimation
Launch Africa, Allan Gray, AlphaCode, Kalon Venture
Partners, IDF Capital
SEED STAGE
$2.0M - Seed
Afya Rekod (2019, Nairobi, $2.0M)
Provider of an AI and blockchain-based patient data
managing software
MaC Venture Capital, Next Chymia Consulting
SEED STAGE
$4.0M - Seed
Casava (2016, Lekki, $4.0M)
Online life & non-life insurance platform for individuals
and businesses
Target Global, Entree Capital, Tom Blomfield, Oliver
Jung, Ed Robinson, and 8 more
SEED STAGE
$5.0M - Seed
Milezmore (2021, Maadi, $5.0M)
Provider of cloud-based e-commerce fulfillment
solutions
Brimore
SEED STAGE
$5.0M - Seed
Nawy (2004, , $5.0M)
Online listing platform to buy, sell or rent residential
and commercial properties
SEED STAGE
Seed
FreshSource (2018, Cairo)
Online B2B platform for horticulture products
Wamda, 4DX Ventures
8. Africa Tech - February 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
List of Funding Rounds (4/4)
List of Funding Rounds in Africa Tech in February 2022
Africa Tech: List of Funding Rounds
Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+), PE
8
SEED STAGE
Seed
Badili Africa (2021, Nairobi)
Online marketplace platform offering preowned
mobiles
The Mobile Only Accelerator
SEED STAGE
Seed
ChapChap (2016, Kampala)
Mobile-based payment platform for individuals and
businesses
Nordic Impact Funds
SEED STAGE
Angel
HyperCap (2020, Johannesburg)
Finance & accounting software for businesses
Manish Bhartia
9. Africa Tech - February 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
New Investors (1/2)
List of New Investors in Africa Tech in February 2022
Africa Tech: List of New Investors
9
Investor Company Info Round Amount Round Name
CZI
34 portfolio companies | Foundation engaged in the areas of science, education,
and justice
Apollo Agriculture
Online marketplace for farm loans
$40.00M Series B
Vastly Valuable Ventures
2 portfolio companies | Venture capital firm focused on pre-seed to series A
stage
MarketForce360
Cloud based sales and distribution management solution for businesses
$40.00M Series A
Voltron Capital
5 portfolio companies | Venture capital firm focused on early-stage investments
Remedial Health
Provider of a supply chain management software for pharmacies and
insurers
$1.00M Seed
DisruptAD
2 portfolio companies | Venture capital-backed startup studio focused on early
and late-stage startups
Yalla Fel Sekka
Offers a web-based B2B delivery service platform
$7.00M Series A
CONTACT
1 portfolio companies | CONTACT | Contact
Wasla Browser
Provider of a web browser for Android devices
$9.00M Series A
VU Venture Partners
6 portfolio companies | Multiple sector focused seed stage VC firm
MarketForce360
Cloud based sales and distribution management solution for businesses
$40.00M Series A
Yara Growth Ventures
3 portfolio companies | Venture capital and funds of fund focused on agrotech
and greentech sectors
Apollo Agriculture
Online marketplace for farm loans
$40.00M Series B
MyAsiaVc
7 portfolio companies | Venture capital fund investing in early stage startups
Duplo
Open banking suite
$1.30M Seed
M3
6 portfolio companies | Japan's networking site dedicated to healthcare
professionals
RelianceHMO
Cloud-based health insurance platform for individuals and businesses
$40.00M Series B
Prosus
70 portfolio companies | Venture capital firm investing in tech companies
thndr
App-based platform for trading stocks
$20.00M Series A
10. Africa Tech - February 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
New Investors (2/2)
List of New Investors in Africa Tech in February 2022
Africa Tech: List of New Investors
10
Investor Company Info Round Amount Round Name
SBI
37 portfolio companies | Commercial bank
Apollo Agriculture
Online marketplace for farm loans
$40.00M Series B
StonePine Capital Partners
3 portfolio companies | Private equity firm focused on multiple sectors
Nerhadou
Developer of nutritional supplements and oral drug delivery strips
$20.00M Series B
PerTech Solutions
1 portfolio companies | Developer of eye tracking hardware and software
Reliance Health
Online health insurance solutions for individuals and businesses
$40.00M Series B
Affirma Capital
23 portfolio companies | Private equity firm focused on acquisitions & buyouts
Nerhadou
Developer of nutritional supplements and oral drug delivery strips
$20.00M Series B
216 Capital
3 portfolio companies | Venture capital firm investing in pre-seed and seed
stage startups
AVIDEA
Insurance claims management solutions for the auto insurance industry
$696K Seed
RailTel Corporation of India
1 portfolio companies | Broadband internet connectivity and data center
services provider
Reliance Health
Online health insurance solutions for individuals and businesses
$40.00M Series B
PixCap
1 portfolio companies | Web-based 3D animation engine provider
Reliance Health
Online health insurance solutions for individuals and businesses
$40.00M Series B
Brimore
1 portfolio companies | App-based community platform offering multi-category
products
Milezmore
Provider of cloud-based e-commerce fulfillment solutions
$5.00M Seed
tenx.tc
1 portfolio companies | Tencent.com
RelianceHMO
Cloud-based health insurance platform for individuals and businesses
$40.00M Series B
MaC Venture Capital
40 portfolio companies | Early stage investments focused VC firm
Afya Rekod
Provider of an AI and blockchain-based patient data managing software
$2.00M Seed
11. Africa Tech - February 2022 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.
11
Rank Business Model $ Funding # Rounds Top Funding Round
1 ▲57 Digital Wallets $640M 15 OPay | $400M | Series C
2 ▲8 Business Payments Solutions $547M 7 OPay | $400M | Series C
3 ▲1 Sports Betting Platforms $293M 1 BetKing | $293M | Series C
4 ▲1 Sports Betting Platforms $293M 1 BetKing | $293M | Series C
5 ▼-4 Retail Banking $150M 3 TymeBank | $70.0M | Series B
6 ▲6 Retail Stores Informal Distribution $124M 6 TradeDepot | $110M | Series B
7 -- Internet First Lenders $120M 1 MNT Halan | $120M | Series A
8 ▼-2 Internet First Loan Marketplace $120M 1 Jumo | $120M | Series D
9 ▲10 B2B E-Commerce Software Suite $110M 1 TradeDepot | $110M | Series B
10 ▲11 CPG Brands Informal Distribution Solutions $110M 4 TradeDepot | $110M | Series B
12. Africa Tech - February 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
New Analyst Picks (1/2)
Interesting Companies identified by Analysts in Africa Tech in February 2022
Africa Tech: Analyst Picks
12
Upgraded to SOONICORN
RelianceHMO (2017, Lagos, $120K, Seed)
Cloud-based health insurance platform for individuals
and businesses
General Atlantic, Partech Partners, Picus Capital and 11
other Investors
Upgraded to SOONICORN
Apollo Agriculture (2016, Nairobi, $3.6M, Series A)
Online marketplace for farm loans
SoftBank Vision Fund, CZI, Yara Growth Ventures and
21 other Investors
Upgraded to SOONICORN
MarketForce360 (2017, Nairobi, $350K, Seed)
Cloud based sales and distribution management
solution for businesses
V8 Capital Partners, TEN13, SOSV and 17 other
Investors
Upgraded to SOONICORN
Reliance Health (2020, Lagos, $40.0M, Series B)
Online health insurance solutions for individuals and
businesses
General Atlantic, PerTech Solutions, AAIC and 5 other
Investors
Upgraded to MINICORN
thndr (2020, Cairo, $150K, Seed)
App-based platform for trading stocks
Tiger Global Management, BECO Capital, Jimco and 11
other Investors
Upgraded to MINICORN
Wasla Browser (2018, Cairo, $180K, Angel)
Provider of a web browser for Android devices
CONTACT, Egypt Ventures, Ebtikar and 3 other
Investors
Upgraded to MINICORN
Yalla Fel Sekka (2019, Cairo, $7.0M, Series A)
Offers a web-based B2B delivery service platform
Flybridge Capital Partners, I Squared Capital, DisruptAD
and 1 other Investors
Upgraded to MINICORN
Casava (2016, Lekki, $4.0M, Seed)
Online life & non-life insurance platform for individuals
and businesses
Target Global, Entree Capital, Tom Blomfield and 10
other Investors
Upgraded to MINICORN
PAIX (2016, Sandton, $20.0M, Series B)
Platform offering data center colocation services
Africa50and
Upgraded to MINICORN
Nerhadou (1996, Giza, $20.0M, Series B)
Developer of nutritional supplements and oral drug
delivery strips
Affirma Capital,StonePine Capital Partnersand
Upgraded to MINICORN
Milezmore (2021, Maadi, $5.0M, Seed)
Provider of cloud-based e-commerce fulfillment
solutions
Brimoreand
13. Africa Tech - February 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
New Analyst Picks (2/2)
Interesting Companies identified by Analysts in Africa Tech in February 2022
Africa Tech: Analyst Picks
13
Added to Editor's Pick
Chekkit (2018, Lagos, $500K, Seed)
Provider of web-based supply chain tracking and
customer intelligence software
Launch Africa, , Blockchain Founders Fund and 4 other
Investors
Added to Editor's Pick
Duplo (2021, Lagos, $1.3M, Seed)
Open banking suite
Oui Capital, MyAsiaVc, Y Combinator and 4 other
Investors
Added to Editor's Pick
OKX (2017, Victoria, Unfunded)
Financial services platform offering trading and wallet
Blok Venturesand
Added to Editor's Pick
Aura (2017, Johannesburg, $416K, Seed)
Provider of an app to send emergency alerts
HAVAIC,Cactus Advisorsand
Added to Editor's Pick
cARscan (2020, Johannesburg, Undisclosed, Seed)
AI & AR-driven mobile app provider for car condition
estimation
Kalon Venture Partners, Launch Africa, Allan Gray and
3 other Investors
Added to Editor's Pick
Remedial Health (2020, Lagos, $125K, Seed)
Provider of a supply chain management software for
pharmacies and insurers
Global Ventures, Ventures Platform, Ingressive Capital
and 5 other Investors
Added to Editor's Pick
Credrails (2020, Nairobi, $2.5M, Seed)
Open banking aggregation APIs
Samos Investments,Precursor Ventures,and
Added to Editor's Pick
Eazipay (2021, Lagos, $125K, Seed)
Payroll and bookkeeping management solutions for
small businesses
Y Combinatorand
Added to Editor's Pick
Lipa Payments (2020, Sandton, $661K, Seed)
NFC-enabled POS solutions for merchants and
businesses
Imvelo Ventures,Empowerment Capitaland
Added to Editor's Pick
AISuperVision (2020, Mannheim, $125K, Seed)
Provider of AI based process analytics solutions
Y Combinatorand
Added to Editor's Pick
AVIDEA (2017, Tunis, $696K, Seed)
Insurance claims management solutions for the auto
insurance industry
Capsa Capital Partners,216 Capitaland
Added to Editor's Pick
Synnefa (2014, Nairobi, Unfunded)
Developer of cloud and AI-based solutions for crop
farming efficiency improvement
Founders Factory Africaand
14. Africa Tech - February 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Acquisitions
List of Acquisitions in Africa Tech in February 2022
Africa Tech: Acquisitions
14
Acq. Date Company Acquirer Deal Size
03 Feb 2022
ParkUpp(2016, Green Point)
Online marketplace for on-demand parking spaces
Docklands Ventures
07 Feb 2022
Wazo(2020, Lagos)
Payment processing solutions for bills, wallets, bulk payments,
and scheduled payments
Transtura
10 Feb 2022
Tonaton.com(2013, Accra)
Saltside's free classified ads website in Ghana
Jiji.ng
21 Feb 2022
PayJustNow(2019, Cape Town)
Online platform for point of sale financing
Weaver Fintech
28 Feb 2022
Circle(2019, , $0.1M)
App-based property management software gated communities
Milango
15. Africa Tech - February 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Recent News (1/2)
Recent News in Africa Tech in February 2022
Africa Tech:News
15
Exit News
.
● B2B eCommerce acquisition looks to tap into Ghana’s US$24.4bn retail sector
ITWeb
.
● Weaver Fintech acquires 85% stake in Cape Town-based PayJustNow Finextra
.
● Docklands Ventures acquires prop-tech startup ParkUpp Africa Business Communities
.
● Tilting Point acquires AN Games GamesIndustry
.
● Kenyan insurtech startup Lami acquires counterpart Bluewave to expand to
new African markets Disrupt Africa
.
● Jiji acquires Ghana competitor Tonaton.com Telecompaper
.
● Transtura acquires WazoMoney; Set to launch payment and marketplace
solutions for the mobility sector Nairametrics
.
People News
.
● Stephane Duproz exits as Africa Data Centres CEO TechCentral
16. Africa Tech - February 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
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