Adrian Garcia-Aranyos’ Post

So what happened in the African startup funding landscape in the first half of 2024? As predicted, the ecosystem faced significant challenges. For instance, the total funding dropped by 57% compared to H1 2023, amounting to approximately $780 million. Be that as it may, key sectors such as transport, fintech, and cleantech continued to attract substantial investments. 𝐎𝐯𝐞𝐫𝐚𝐥𝐥 𝐅𝐮𝐧𝐝𝐢𝐧𝐠 𝐓𝐫𝐞𝐧𝐝𝐬: African startups raised approximately $780 million in H1 2024, marking a notable decrease from the $1.8 billion raised in H1 2023. This 57% drop reflects the broader economic pressures but also highlights a shift towards more sustainable and strategic investments. 𝐓𝐨𝐩 𝐅𝐮𝐧𝐝𝐞𝐝 𝐒𝐭𝐚𝐫𝐭𝐮𝐩𝐬: ✅ Moove (Nigeria) - $100 million ✅ M-KOPA (Kenya) - $51 million ✅ SPIRO (Kenya) - $50 million ✅ SunCulture (Kenya) - $27.5 million ✅ Roam (Kenya) - $24 million ✅ PULA (Kenya) - $20 million ✅ Valu (Egypt) - $18.7 million ✅ OneOrder (Egypt) - $16 million ✅ Planet42 (South Africa) - $16 million ✅ Simera Sense (South Africa) - $15 million Jesse Moore Christo Rust Johann Du Toit Ana-Mia Louw Kammy Brun Eerik Oja Marten Orgna Tamer Amer Karim Maurice Walid Hassouna Mostafa El-Sahn Habiba Naguib Thomas Njeru Rose Goslinga Sarfraz Shah, FIII Nabil Janmohamed Silvere Mantz Cedrick A Todwell Joyce Mlewa Mikael Gånge Clare Awuor Olov Daniels Filip Lövström Samir Ibrahim Njeri N. Hack Stiernblad Henry Clarke Andrew Reicher Mikayla Czajkowski Ladi Delano   Learn More 👉 https://lnkd.in/dBAn9TrB #empowerafrica #africa #investinafrica #AfricanStartups #Innovation #Funding #Entrepreneurship

🌍 Most Active APAC Investors in African Startups 🚀 In recent years, the African startup ecosystem has captured the attention of international investors, including investors from APAC. These firms invested heavily in sectors such as fintech, agritech, and e-commerce, bringing in capital and global expertise to help African startups scale. From large funding rounds to strategic partnerships, these APAC investors are enabling African founders to innovate, expand into new markets, and bring cutting-edge solutions to global challenges: - Jack Ma Foundation and Alibaba Group Philanthropy through Africa's Business Heroes - Antler, led in Africa by Marie Nielsen and Melalite Ayenew - AAIC | Asia Africa Investment & Consulting, led by Shohei Namba, Shigeru Handa, and Hiroki Ishida - EMURGO, led by Ken Kodama - Kepple Africa Ventures, led by Takahiro（Taka） Kanzaki, Satoshi Shinada and Ryosuke (Rio) Yamawaki - mobility54, led by Takeshi Watanabe, Daiki Sato, Marika S, and Agnes Karwamba - MSA Capital, led by Jenny Zeng - SAMURAI INCUBATE, led by Rena Yoneyama - SBI Investment - TEN13, led by Steve Baxter, Stew Glynn, and An Vo - Tencent - UNCOVERED FUND, led by Takuma Terakubo and Papama Nyati 📧 If you want more details on each investor, check out our article in Startup Researcher Africa, and don't forget to subscribe to our newsletter. Source: Africa: The Big Deal #africa #APAC #investors #venturecapital

Fascinating data about the VC investments per capita by now in 2024 that Yoram Wijngaarde and his team at Dealroom.co brings. As we get stuck in our mindset on the big advanced ecosystems that are making lots of noise, there are incredible places where resiliency in terms of capital raised is remarkable. Singapore 🇸🇬 (Jacqueline Poh, YC Choy) is at the top of the charts followed by the UAE 🇦🇪, right ahead the US! Switzerland 🇨🇭 is the leading European country with the most VC money invested per capita, followed by Israel 🇮🇱 (Michal Freeman-Shor). My take is, watch for small countries that put tech, AI, startups and the private capital market in their priorities as a leading economic growth driver. Those are the tech exporters of talent, tech and capital and will attract investors globally. #capitalmarkets #privatecapital #venturecapital #startups #innovation #technology #AI #economy #growth #entrepreneurship #privateequity

It's no longer news that we are in a slowing fundraising market. According to AVCA - The African Private Capital Association, African startups raised 900m+ from 182 deals in H1 2024. This was the lowest performance by the African tech space since 2017. While many might feel disheartened by these current trends, history shows that the most successful startups often emerge during challenging times. As highlighted in our recent webinar, "Africa's Tech Uprising: Opportunities with Global and Diaspora support", this period can be an opportunity for African founders to rethink their strategies and focus on what truly drives value for their startups. This is already happening. According to Calvin Chitangala, Project Manager, Renew Capital, "More startups are prioritising sustainable growth. So as they chase high high-revenue growth, they also seek to chase profitability" As a founder, investing time and energy into refining your business model, and understanding your market better, can lead to lasting success. Now is the time to dig in, pivot where necessary, and explore new avenues for growth. Let's embrace this moment as a catalyst for creativity and resilience! 💪✨ Source: Panel Discussion on "Africa: New Opportunities with Global and Diaspora Support" by Bernard Laurendeau (ቤርናር - ベルナルド), CEO, Arifpay; Mateo Klemmayer, Co-CEO, ChipChip; Bethelhem Dejene(Betty), CEO, Zafree, Calvin Chitangala, VC and Project Manager, Renew Capital. #Bantaba #Africa #Startup

Nubank joins TymeBank Group's shareholder base in a $250m Capital D series raise, solidifying its unicorn status and highlighting the power of global networks! 🚀 TymeX Group, founded by Endeavor Entrepreneurs Coenraad (Coen) Jonker , Nathaniel (Nate) Clarke, Tauriq Keraan, and Tjaart van der Walt, has reached a $1.5 billion valuation, officially becoming one of Africa’s unicorns 🦄 after raising $250 million This marks a huge milestone in Tyme's leadership in digital banking across Africa and Southeast Asia. 📈 Key Highlights:  ✅ $250 million raised, including $150 million from Nubank Holdings  ✅ 15 million+ customers across South Africa (TymeBank) and the Philippines (GoTyme Bank)  ✅ 317% YoY growth for GoTyme Bank in the Philippines The strategic partnership with Nubank, facilitated by Endeavor is a partnership that is set to accelerate Tyme's growth in emerging markets, with plans for expansion into Indonesia next. Alison Collier, MD of Endeavor South Africa, said: "This partnership between Nubank and Tyme highlights the essence of Endeavor’s mission—connecting high-impact entrepreneurs from emerging markets with opportunities that allow them to scale beyond borders." Tjaart van der Walt, co-founder of TymeBank, has also joined the Endeavor South Africa board to continue supporting high-impact entrepreneurs and the Endeavor mission of fostering scalable, cross-border connections. Read More: https://lnkd.in/dBqCp8wM Financial Times article: https://lnkd.in/dzkQW8uJ Antonia B. Nolufefe Nghala Marc Herson Linda Rottenberg Adrian Garcia-Aranyos Allen Taylor Michele Wanjiku David Vélez

Great insight! Thanks for dispelling these myths. And contrary to popular belief, the continent presents numerous opportunities for growth, though many challenges exist, they are not insurmountable! #africanstartups #emergingmarkets #investestinginAfrica #fintech

Here are 5 of the biggest misconceptions about investing in African startups - DEBUNKED ❕❗❕ #1 High Risk & Low Returns 💰 Many investors assume that investing in African startups is inherently risky with minimal chances of high returns. Paystack, a Nigerian fintech company, exemplifies the significant growth & innovation potential of African startups. In October 2020, Paystack was acquired by Stripe for over $200 million. This acquisition underscored Paystack's value & potential in the fintech sector, providing a lucrative exit for early investors. #2 Startups Lack Scalability 🌍 There’s a misconception that African startups cannot scale effectively due to infrastructure limitations & market diversity. In truth, many African startups have shown remarkable scalability, expanding both regionally and globally. Nando's South Africa was founded in 1987, since its founding they have expanded internationally and are now present in over 30 countries worldwide. #3 Limited Talent Pool 🧑🎓 Africa has a vast & growing pool of skilled professionals. Moringa School is an excellent example. Since its inception in 2014, Moringa has trained over 4,000 students & placed more than 70% of its graduates into leading companies throughout Africa & the world, showcasing the continent's burgeoning talent. #4 African-Domiciled Businesses are Risky & Complex 📃 Many, if not most, African startups are successfully addressing challenges like regulatory compliance, stability & access to capital by incorporating in internationally recognised, investor-friendly jurisdictions. Planet42's international incorporation strategy has boosted capital access, investor confidence, & advanced its mission to tackle mobility challenges in underserved communities, showcasing the impact of leveraging globally recognised jurisdictions for growth & scalability. #5 African Markets are too Small & Fragmented 🧩 Jumia Group is Africa's largest e-commerce platform, often referred to as "the Amazon of Africa." It operates in multiple countries across the continent, offering a wide range of products and services. Jumia's platform has scaled to serve millions of customers, adapting its business model to various African markets with diverse consumer preferences & logistical challenges. #africastartups #africainnovation #emergingmarkets #africaecosystem #africainvestment #africaoppertunities #thedelta

Great reminder from Illai Gescheit that Singapore a country to be reckoned with despite our size. I do think that it is our forefathers' vision of building robust systems based of sound fundamentals that brought us here today. We cannot attract VC investment in such turbulent and uncertain time if we do not have the fundamentals of our financial systems, government incentives and judiciary system working well together to create a reputation of reliablity that has been stressed tested. Though no system is 100%, but we will resolve issues with greater coordination and due delligence to create even strong systems for the foreseeable future. This timely data also highlights the strength of systems thinking that really needs to be "baked-in" to modern systems to enhance resiliance, innovation and most important understand issues from a multi-stakeholders' perspective in order to provide solutions in the same spirit. The future remains prosperous if we can figure out how to work with nature instead of against it and remember that nature never needed us to survive, while it is not true the other way round. Have a joyful weekend everyone. #Investment #VC #Singapore #Nature #sustatainableinvestment #APAC #ASEAN #VCInvestmentpercapita #Multistakeholderperspective #Systemsthinking #NatureFirst #sustainablitypivot

"If the next generation of African unicorns are to last, venture capitalists must shift away from demanding rapid, exponential growth and favor paced profitability as the model of success." Sabrina Dorman, Co-founder Zumi. This article was published a short while back before Copia and Gro hit the news. I agreed with everything that she put out in the article especially the last part... "If African investors can shift this paradigm, the valuable businesses they create will in turn become investors in their own ecosystem and nurture the next generation of African unicorns." More than just nurturing the next generation of unicorns, they will nurture the businesses that "make what people want". Key word is business not startup. Time for the African startup to run like an Indian business? PS. It took 4-5 years of me consulting for an Indian owned tech company for me to really understand the difference between being in business and being in startup. Read the full article by Sabrina - https://lnkd.in/dGShAq8y I've written about VC in Kenya/Africa before on a slightly similar tone. "The curse of VC funds, or is Africa just a tough market?" Read more - 🚀 https://lnkd.in/d7pzx-Pq

The Rise of African Startups: Exploring Untapped Potential Africa's startup ecosystem is experiencing extraordinary growth and innovation, presenting exciting opportunities for investors and entrepreneurs. In 2022, African startups raised an impressive $3.54 billion in funding, significantly increasing from the previous year. This steady rise continued into 2023, with funding surpassing $4 billion, reflecting the growing confidence and interest in Africa's entrepreneurial ecosystem. Unique Opportunities: From fintech platforms facilitating financial inclusion to agritech startups transforming agriculture to healthtech seeking to improve the healthcare system, African entrepreneurs are tackling local challenges with innovative ideas bringing transformative solutions to the world. Challenges and Resilience: Despite the promise, African startups face unique challenges such as access to funding, infrastructure limitations, and regulatory complexities. However, these challenges have encouraged resilience and creativity among entrepreneurs, leading to impactful solutions that address pressing societal needs. TIRAH's Commitment: As part of its mission in 2024, TIRAH is dedicated to supporting and investing in Africa's promising startups. Through mentorship, funding, and strategic partnerships, we are poised to empower entrepreneurs to scale their ventures and drive sustainable impact. What's in it for YOU? ·        Connect with TIRAH's network of seasoned experts ·        Gain valuable guidance on corporate governance, go-to-market strategies, and more ·        Access resources to accelerate your growth and unlock your full potential. Do you have a groundbreaking idea that's ready to take off? Let us know in the comments! #InvestInGhana #Startups #GrowthPartners