Investor Urge for food Robust for Seed Stage Fintech and Crypto Offers in Africa

In at the moment’s funding replace, a crypto change, a fintech API platform and an MSME lender have raised seven-figure funding rounds throughout pre-seed and seed stage offers in Africa.

The offers point out that very early stage offers stay well-liked for fintech firms throughout the African continent, regardless of a lot of mega rounds and unicorn valuations raised this 12 months.

Crypto change Busha raised US$4.2 million seed funding

Nigeria-based crypto change Busha, based in 2019, has raised US$4.2 million in a seed funding spherical. The funding might be used to scale past Nigeria throughout the remainder of West Africa and different African areas, the corporate stated. The seed funding spherical was led by Leap Capital. Taking part buyers included Cadenza Ventures, Blockwall Capital, CMT Digital, Greenhouse Capital, Raba Capital, and others.

Busha at present has over 200,000 customers, and goals to onboard a million Africa-based customers going ahead.

Fintech API supplier OnePipe secures US$3.5 million seed spherical

Nigerian API developer OnePipe has raised US$3.5 million in seed funding to spice up its embedded finance API. The spherical was co-led by Atlantica Ventures, Tribe Capital and V&R Associates.

It additionally featured Canaan Companions, Saison Capital, Klarna founder Niklas Adalberth Norrsken, The Fund and Two Tradition Cap. Different collaborating buyers included Chris Adelsbach, Techstars, Ingressive Capital, Acquity, P1, Raba, DFS Lab, and a few angel buyers as properly.

MSME lending app Asilimia picks up US$2 million pre-seed spherical

Kenya-based Asilimia, which offers cell cash transaction capabilities to MSMEs by way of its Leja app, is seeking to department into lending by way of a US$2 million pre-seed spherical. With the funding, the startup might be bolstering its tech and increasing inside East Africa, and increasing MSME loans primarily based on information from the Leja app.

The funding was break up equally between fairness and debt. Fairness financing was offered by serial entrepreneur Fredrik Jung Abbou, whereas French Public Funding Financial institution (Bpifrance) and GreenTec Capital Companions offered the debt facility.

Different seed stage offers in Africa this quarter to this point

We’ve noticed a lot of very early stage funding rounds going down throughout Africa, a lot of which had been closed in This fall this 12 months. Right here’s a fast take a look at the startups that closed seed and pre-seed rounds:



– Nigerian neobank Sparkle secured US$3.1 million seed funding for growth.
– Nigeria-focused Periculum fetched US$620,000 in a pre-seed deal for its automated credit score evaluation.
– Nigeria’s SME lending startup Payhippo secured US$3 million in seed funding.
– Nigeria-based fintech Lemonade Finance picked up US$725,000 in a pre-seed spherical to scale its operations.
– Nigerian enterprise accounting startup Kippa closed US$3.2 million in a pre-seed funding spherical.
– Nigeria-based cash switch startup Aboki Africa raised an undisclosed pre-seed funding spherical to scale.

South Africa

south africa

– South African API fintech Sew raised US$2 million seed extension for its Nigeria growth.
– South Africa-based FinMeUp closed an undisclosed seed funding spherical for current and new merchandise.
– South African insurtech startup Root secured US$3 million in seed funding for growth efforts.


– Norrsken invested in Rwanda-based fintech startup PesaChoice’s seed funding spherical.


– Zambia-based API fintech Union54 secured US$3 million in seed funding.

Featured picture: Unsplash

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