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    HomeAnalysis & OpinionsA Directory of Active Investors in African Startups for Q3 2024

    A Directory of Active Investors in African Startups for Q3 2024

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    In Q3 2024, African tech startups faced a significant setback, witnessing a roughly 40% decline in funding activity compared to the same period in 2023. This downturn is part of a wider global funding slowdown, as a persistent capital shortage continues to affect the tech ecosystem. However, the recent notable funding rounds from companies like NALA, MNT-Halan, and Paymob have sparked a glimmer of optimism, hinting at a potential recovery as new investment funds are launched. But who are the investors rallying behind these African startups in Q3 2024? Here’s a sneak peek into the entities making an impact in this challenging landscape.

    StartupCountryInvestors
    SETTLEEgyptShorooq Partners, Elsewedy Capital Holding, Acasia Ventures, Plus VC
    Happy PaySouth AfricaE4E Africa, 4Di Capital, DotExe Ventures, Launch Africa, Equitable Ventures, Felix Strategic Investment, Gaingels
    LablabeeAlgeriaReach Capital, Classera, Brighteye Ventures, e& capital
    TuzzoIvory CoastRing Capital, Mstudio (in-kind)
    UserguestMoroccoAl Mada Ventures, CDG Invest, Saviu Ventures, UM6P Ventures, Kalys VC, Plug & Play
    KWiKSMoroccoAzur Innovation Management (AIM)
    Talk360South AfricaHavaic
    PaymobEgyptEBRD Venture Capital, PayPal Ventures, Endeavor Catalyst, British International Investment (BII), FMO, A15, Nclude, Helios Digital Ventures (HDV)
    FlapKapEgyptBECO Capital, Pact VC, A15, Nclude, QED Investors
    WattnowTunisiaLateral Frontiers, 216 Capital, Outlierz Ventures, Satgana, Octerra Capital
    Jackfruit FinanceKenyaPlesion Capital, VestedWorld, Sherpa Ventures
    ChpterKenyaPani, Plesion Capital, Techstars, Norrsken, Renew Capital, ViKtoria Ventures
    KredeteNigeriaBFF, Techstars, Tezos Foundation, Polymorphic Capital, Launch Africa, Neer Venture Partners, SDF, DNA Fund
    AmpersandKenyaAHL Venture Partners, Everstrong Capital, Beyond Capital Ventures
    RubyxSenegalProparco
    WorkPayKenyaNorrsken22, Visa, Plug and Play, Y Combinator, Saviu Ventures, Axian, Verod-Kepple Africa Ventures, Acadian Ventures
    Solarise AfricaSouth AfricaMergence Investment Managers
    WazaNigeriaY Combinator, Byld Ventures, Norrsken Africa, Heirloom VC, Plug and Play Tech Center, Olive Tree Capital, Timon Capital (debt)
    FidoGhanaFMO
    Open Access EnergySouth AfricaFactor E Ventures
    doo!Cote d’IvoireSaviu Ventures
    MattaNigeriaOui Capital, DFS Lab
    Lucky OneEgyptLorax Capital Partners, KEM, DisrupTech Ventures
    QardyEgyptWhite Field Ventures, Vastly Valuable Ventures
    Synapse AnalyticsEgyptSilicon Badia, Hub 71
    Hub2Ivory CoastEnza Capital
    CartonaEgyptAlgebra Ventures, Silicon Badia, SANAD Fund for MSME (equity), Camel Ventures, GlobalCorp (debt)
    Sukhiba ConnectKenyaMusha Ventures, CRE Venture Capital, Antler, EQ2 Ventures, Goodwater Capital, Chandaria Capital
    EducatlyEgyptTLcom Capital, Plus VC, Egypt Venture, HBAN syndicate
    PremierCreditZambiaEnygma Ventures
    Intron HealthNigeriaMicrotraction, Plug and Play Ventures, Jaza Rift Ventures, Octopus Ventures, Africa Health Ventures, OpenseedVC, Pi Campus, Alumni Angel, Baker Bridge Capital
    Aquarech, CoamanaKenya, NigeriaVillage Capital
    ShiprazorSouth AfricaLaunch Africa
    PlentifySouth AfricaE3 Capital, Third Sphere, TELUS Pollinator Fund for Good, Susquehanna Foundation, Fireball Capital
    MNT-HalanEgyptInternational Finance Corporation (IFC), Development Partners International (DPI), Lorax Capital Partners, Apis Partners LLP, Lunate, GB Corp
    d.LightKenyaAfrican Frontier Capital (AFC)
    dopayEgyptArgentem Creek Partner, Alder Tree Investments
    Bio-LogicalKenyaCrossBoundary, Redshaw Advisors, Steyn Group
    UncoverKenyaEQ2 Ventures, IgniteXL Ventures, Chui Ventures, Samata Capital, Altree Capital
    AURASouth AfricaHAVAÍC, AfricInvest
    SommalifeGhanaWangara Green Ventures
    NALATanzaniaAcrew Capital, DST Global, Norrsken22, HOF Capital, Amplo, NYCA Partners
    BlueroomcareNigeriaEHA Impact Ventures, TVC Labs, Innovest Africa
    OmnisientSouth AfricaArise Investment
    EdVentures (Investor)EgyptElkheta, Saikoro, The Copywriter, Techy App, SchoolZ, ArmStrong, Tutoro, InvestED (Startups)
    Digital Africa via Fuze (Investor)VariousTenderz, Remotion, Konnect Networks, Makifaa, Seabex (Startups)
    Baobab Network (Investor)VariousBuyam, Swyft, RentScore, EnvoyX, VOVE ID, Lemonade, Aktivate, iFunza, PeerCarbon (Startups)
    According to Launch Base Africa’s database, it’s important to note that some investors may have participated in multiple funding rounds. However, the primary aim of this dataset is to highlight the active investors during Q3, 2024.

    The Bottom Line

    While the 40% decline in funding for African tech startups in Q3 2024 reflects the ongoing challenges in the global investment landscape, investment activity so far in Q4 is suggesting that optimism is on the horizon. The emergence of new funds and new investors in 2024 may also signal a turning point, offering renewed support for African startups. As we look ahead, identifying the investors who are stepping up to back these startups will be key to understanding the future trajectory of Africa’s tech ecosystem.

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