The $2 million ticket into the Guinean fintech is modest, but it signals growing development-finance appetite for the unglamorous plumbing that connects global money-senders to mobile wallets and cash agents on the continent
As African startups mature and pressure grows for profitability and impact, models like COREangels MEA — which blend financing with operational expertise — may become a more common fixture.
Founded to address the fragmented nature of material sourcing in Nigeria, Cutstruct offers a digital marketplace where developers and contractors can procure all their building materials in one place.
Ethiopia’s mobile money market has boomed in the past three years, led by Telebirr — operated by the state-owned Ethio Telecom — which claims over 40 million users.
MaC Venture Capital has previously backed African startups including Big Cabal Media (media), Afya Rekod (healthtech), and IdentityPass (identity verification).
“We’ve built a differentiated model that has consistently delivered growth and profitability despite limited access to capital and tough macro conditions."
The $2 million ticket into the Guinean fintech is modest, but it signals growing development-finance appetite for the unglamorous plumbing that connects global money-senders to mobile wallets and cash agents on the continent
