Africa’s fintech sector, leaders, and pioneers will gather in Washington, D.C. on April 12, to discuss solutions for changing the industry.
African founders and tech entrepreneurs are aiming to build a promising future by securing millions of dollars for climate change initiatives and creating innovative technology. Global events, such as AfroTech Executive D.C., are taking notice of this powerful movement and bringing it to the forefront. On May 11, executives will gather to discuss Africa’s growth in the technology industry.
Prosper Africa, the leading US-Africa trade and investment initiative, has partnered with the Africa Fintech Summit ahead of AfroTech Executive D.C. Africa’s fintech sector, leaders, and pioneers will gather in Washington, D.C. on April 12, to discuss solutions for changing the industry.
In light of the rising tech trailblazers, AfroTech is highlighting African startups that are not only making waves but are gearing up to make a lasting impact.
Shuttlers
Damilola Olokesusi, founder of Shuttlers, raised $1.6 million in 2021 to improve the mobility industry in Africa. In April 2023, the Nigerian mobility company raised $4 million in a new funding round led by Verod-Kepple Africa Ventures (VKAV) and is on its way to going live in five more cities. Olokesusi’s main focus is to take over the bus-sharing space and become a profitable startup. She has built an infrastructure that allows them to expand into different geographies and supports multiple stakeholders.
Rwazi
Rwazi is a market intelligence startup founded in 2021 by Eric Sewankambo and Joseph Rutakangwa. It has a network of over 50,000 consumers and raised a $4 million seed funding round in March 2023. As of this writing, Rwazi’s products are available in 40 African countries and in South Asia and Latin America.
Afriex
Afriex, based in Lagos, Nigeria, and San Francisco, CA, provides reliability for its users to send and receive money. It has raised $11.4 million over five rounds to fund its core money transfer product and vision to launch a stablecoin. Co-founder Tope Alabi told Forbes that they are building a web-based mesh of financial institutions that could become something like the next Visa.
DrugStoc
DrugStoc is a Nigerian tech startup founded by Chibuzo Opara and Adham Yehia in 2021. It is committed to supporting those in need of pharmaceutical products and healthcare providers, and raised $4.4 million in a Series A funding round led by Africa HealthCare Master Fund. Other investors include Vested World, the German Development Bank, and others.
Vendease
Vendease is a Nigerian marketplace that raised $30 million in a Series A funding round in September 2022 to provide a solution to combat Africa’s food supply issue.
CEO Tunde Kara explains that Vendease is building technology to efficiently move food from the point of production to the point of consumption. Everything they build is tailored towards ensuring that food flows efficiently from the point of production to the point of consumption.