The venture capital scene in Africa has reached impressive heights in recent years. For instance, South Africa grew from raising $400 million in 2015 to $2 billion in 2019, according to a report from Tech Crunch. Currently, South Africa, Kenya, and Nigeria are dominating the venture capital landscape. But with countries like Rwanda and Ghana pushing for legislation to support the local startup ecosystem, one can expect that fledgling enterprises will eventually flourish across the continent.
And although 2020 has proven to be a rough year for businesses with startups taking the bigger hit, there are plenty of initiatives that have persevered and gained traction in the entrepreneurial field. Here we’re sharing with you four African startups that have found success in the global tech ecosystem.
Bridge International Academies
Bridge International Academies offers a “school-in-a-box” technology, training teachers to educate 10 million children throughout the developing world. After being launched by financial analyst Shannon May and her husband Jay Kimmelman in 2009, the startup was able to build 150 schools in a year, in the face of people’s doubts, some of which are in Kenya, Uganda, and Nigeria. According to May, even those living in extreme poverty can afford to send at least two children to the institution. Wired notes that it is backed by big investors including Mark Zuckerberg, Bill Gates, and the Omidyar Network. The startup has also received numerous recognitions such as the 2019 African Business Employer of Choice Award, and the 2019 Wealth and Society Best Tech Product/Service in West Africa.
Mobiz
Mobiz launched in 2014 and is based in Cape Town, South Africa. It specialises in providing a cloud for businesses to send out content-rich, hyper-personalised SMS messages in order to attract customers. This is to boost marketing campaigns and customer service and connect brands with their customers in general. It received $1 million in funding from Kalon Venture Partners in March 2020, and another million from Alchemist Accelerator in June 2020.
Flutterwave
Africa is considered one of the world’s fastest-growing digital payment markets, and yet it has the largest population of underbanked people. Flutterwave set out to bridge this gap by building a digital infrastructure and providing a variety of payment services. Just five years later, Flutterwave now operates in 15 countries and has proudly processed over 140 million transactions amounting to $6 billion in payments worldwide. In September of 2021, Flutterwave has partnered up with Indian tech solutions firm Websites to help small and medium-scale businesses in Africa build their websites for free. Through this, company founder Kartik Raichura hopes to help ease the burden COVID-19 has brought upon other startups, and help connect them to consumers.
Contro
Recently launched in May of 2020, Contro is an online prescription and delivery service geared towards sexual health and confidence. Despite launching in a difficult year, the startup has already garnered hundreds of users with zero marketing spend and has also raised its pre-seed funding round in early 2021. Alex Schmid, who co-founded the startup alongside Ross Malan and David Saunders, told Disrupt Africa of their ambition to be able to provide a convenient, affordable, and discreet service for individuals to obtain their sexual health medication — without the stigma, hassle, or the usual expenses. Contro also offers a digital consultation with a verified doctor for ZAR10.
Fortunately, 2020 wasn’t able to block the growth of African entrepreneurs. Make sure to keep an eye out for these budding startups, as they could rise to become some of the main players in the business field.
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