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Top Funded African Startups

Africa is the second-largest and also the second most populated continent. It also has some of the highly funded startups. Africa is endowed with different natural resources and wildlife, making it the most favorable spot for startups. Besides, Africa is making much economic progress in various sectors, such as tourism and agriculture. Many businesses and startups are doing well and competing with most startups around the globe.

The following are Africa's top startups to watch.

1. Trella

Trella was founded in 2018 by Ali El Atrash, Omar Hagrass and Pierre Saad. It has its operations in Egypt. The company provides B2B transportation for shippers. It makes trucking and supply chain fast and efficient. The company intends to expand its operations to other countries, having made hundreds of trucking trips within Egypt.

The startup is creating job opportunities for drivers and also empowering them by giving them a source of income. It has so far received a seed funding of $600,000.

Read also: Top fintech startups worldwide. 

2. Gozem

Gozem was founded in 2018 by Emeka Ajene, Gregory Costamagna and Raphael Dana. It is a transportation company that works through the use of an App. It operates in Togo and Benin employing between 500 and 1000 employees and has over 800,000 users.   

The startup is registered in Singapore but moved its operation to Africa. Recently, the company began its operations in Burkina Faso, Mali, Gabon, Senegal and Cameroon.  It offers transport services through motorcycles and taxis. Its app shows that there are more than 800 drivers registered on the app. The startup has a funding of $900,000, making it among the top funded African startups.

3. Mpost

Mpost is a Kenyan startup founded in 2016 by Abdulaziz Omar and Twahir Mohamed. It employs between 1000 and 5000 employees. The startup offers postal services with mobile phone numbers being used as addresses. Whenever one has a mail, a notification is sent to the recipient through the mobile number.

Essentially, it is a mobile post office that works through the use of an app. The company has funding of $1,900,000 and it plans to expand its operations. It’s no doubt it is among top funded African startups.

4. RideSafe

RideSafe is a Kenyan startup that was founded in 2017 by Asiimwe Benson Mugisha. The startup is offering insurance services to motorcycle riders. Riders receive first aid in case motorcycle accidents. The company works in collaboration with passengers, first responders and investors to avail health services during accidents. The firm rewards motorcycle riders who portray good behavior.

Motorcycle death-related incidences have been on the rise and that is why the startup is working to find a solution. The company has received funding of $100,000. It is on the top list of top funded African startups.

Read also: Top sources of business ideas. 

5.  Kaoun

Kaoun is a Tunisian founded startup that was founded in 2018 by Nebras Jemel, Anis Kallel and Rostom Bouazizi. It is a financial, cryptocurrency, mobile payments and FinTech Company that allows users to create remote bank accounts on web or app.

The company is working in partnership with Tunisian banks which can register users through Know Your Customer (KYC) service via a Smartphone.

6. Pineapple

Pineapple is a South African startup founded in 2017 by Marnus Van Heerden, Matthew Elan Smith and Ndabenhle Junior Ngulube. The startup offers peer to peer insurance services to users. One can get quotes related to insurance products through a picture.

All you need to do is take a picture of what you want to ensure and then post it. You will get an insurance quote for that product. It has total funding amounting to $1,900,000, making it among the top funded African startups.

7. Yobante Express

Yobante Express is a Senegalese startup that was founded in 2018. It is a platform that brings together local couriers and the domestic and cross-border traders to offer them efficient delivery. Therefore, the company offers delivery services through the use of a motorcycle, bus or car. Users can use an app to request a delivery. Once the parcel has been sent to the pickup point, the recipient uses a unique PIN to confirm that he has received the parcel.

Yobante Express has received over $500,000 funding and it aims to expand its operations to other countries.

Read also: Top funded Kenyan startups. 

8. FlexClub

FlexClub is a South Africa startup registered in the Netherlands. It was founded in 2018 by Marlon Gallardo, Rudolf Vavruch and Tinashe Ruzane. It is a subscription platform for people who want to buy cars. The platform then marches the car with Uber drivers. The company has plans to expand to other geographies and so far, it has received funding amounting to $1,200,000.

Bottom Line

Many investors are scrambling to get a share of the continent's cake with many startups coming up in Africa. The next Silicon Valley is due to its enormous economic potential for its vast natural resources and wildlife. There is a lot that remains underutilized increasing Africa's potential. It is no doubt that Africa is the place to watch for upcoming startups.