Company

Background

Highlights

Founder: Gbenro Dara (2x founder, marketplace startup acquired)

Sector: Fintech- Digital Insurance

Description: Insurance APIs

Stage: Seed (deck)

Geography: Nigeria

News: Vanguard

Round size: $3 million

Valuation: $4 million post-money (Recent Round)

• Market size: Large and untapped digital insurance market - Africa (TAM $68Bn, auto SOM $5.5Bn); Nigeria(TAM $3Bn, auto SOM $150M)
• Problem: manual, inefficient, insurance
• Solution: automated claims, underwriting analytics, embedded insurance APIs
• Traction: 200 dealers, 4k claims processed, downloads of autocheck with 200% MoM growth
• Co-Investors: EchoVC, SAO Capital, FIAT Ventures

Founder: Tunji Andrews

Sector: Fintech - pensions

Description: Micro-Pensions

Stage: Seed (deck)

Geography: Nigeria

News: Arise Interview

Round size: $1 million

Valuation: $8 million post-money

• Market size: $3Bn micro-pensions SOM in Nigeria
• Problem: 75% of NIgerian labor market(59million people) is informal with no retirement services
• Solution: Web and mobile apps providing micropensions, microloans, micro investments, microsavings, microinsurance
• Traction: 18k savers growing 33% MoM; $2 per week savings on average;
• Co-Investors: Techstars UK, Babs Ogundeyi (Kuda Bank)

Founder: Desmond Koney (2x founder)

Sector: AgriTech

Description: Exporting food to Global Corporates (Asia, Europe, USA) through a digital farming marketplace

Stage: Series A (deck)

Geography: Ghana

News: AgFunder NetWork

Round size: $8 million

Valuation: TBD

• Market size: Africa crops value ($192.8Bn); value of target crops (TAM $19.7Bn)
• Problem: Farmers lack access to premium markets, industries face unpredictable supplies, middlemen inefficiencies
• Solution: One marketplace platform (providing insurance suppliers, certification, logistics) accessible on app, web, tablets
• Technology: Data protocols for demand forecasts, satellite &IoT monitoring, Agronomy Advisory, escrow payments & quality controls
• Traction: $9m GMV & $2.8m Revenues in 2021; $15m in Purchase Orders; 3,952 Farmers farming 15k acres; 271 buyers purchasing 42k megatonnes; 40% MoM user growth
• Co-Investors: Ceniarth, Ingressive Capital, EchoVC, Village Capital

Founder: Moustapha Ndoye (Senior PM @Wave-unicorn, 3x co-founder)

Sector: Logistics - Trucking

Description: Logistics company for booking trucks

Stage: Pre-Seed (deck)

Geography: Senegal

News:

Round size: $100k

Valuation: $1 million post-money

• Market: Senegal (2000+ trucks daily, 600k
• Problem: Shippers (difficult access to truck owners, no tracking, no coverage); Truck owners(lose 40% to brokers, no financing)
• Solution: Connect shippers and carriers with integrated web platform and mobile app)
• Traction: 100 trucks on platform
• Co-Investors: Angels
• Wuri Ventures Fellows Program

Founder: Fatu Fall (Forbes 30u30, 2x founder, Harvard)

Sector: AgriTech

Description: Urban Hydroponic Gardening DIY Network

Stage: Pre-Seed (deck)

Geography: Senegal

News:

Round size: $400k

Valuation: $3 million post-money

• Market: $3,2Bn TAM, $356M SAM in Sahel Region
• Problem: Only 4-6 productive months in year, 80% of food is imported, 52% of produce rot in transport
• Solution: Pioneers in Hydroponics in Africa; 4-7x more production in same space; predictable output year-round; 80% water savings; no pesticides; only 3% product loss
• Technology: MVP established in 7 months with 100% local materials (including software and hardware, automation, light intensity control);
• Traction: Each greenhouse creates $30k US EBIT, high margin business model (100% markup for raw produce, 400-600% markup for processed); large early adoption in Senegal (2 e-commerce groceries, 70 high end restaurants, 40 high-end hotels, 5 health markets)
• Co-Investors: I&P (Potential)

Founder: Sayo Folawiyo (LSE, Bain & Co., Microtraction, Pave Investments)

Sector: JobsTech

Description: Marketplace for handyman home services in South Africa

Stage: Seed (deck)

Geography: South Africa

News:Knife, Allan Gray, invest in Kanuda

Round size: $2 milion

Valuation: $5.5 million Pre-money

• Market size: $4Bn in South Africa alone; 80% of homeowners prefer small business owners for home repairs; substantial B2B market
• Problem: Marketplace - Home owners struggled to find trusted handymen; independent providers relied on word of mouth marketing
• Solution: Full-service operating system(marketplace) with algorithmic matching of single home and large businesses to independent service providers- OS and app provide payments, training, insurance, CRM, vetting and verification
• Traction: 9400 Professionals and 5400 Active Customers over 100 categories
• Co-Investors: Knife Capital, Allan Gray