Future Africa, a platform that provides capital, coaching, and community for mission-driven innovators, has disclosed that it invested $1 million across 9 African startups in the 3rd Quarter, 2020.
These include new and follow-on investments for startups across fintech, health, service, and remittances subsectors. This brings to 35 the total number of portfolio startups or companies Future Africa has funded.
Meet the startups the firm funded in Q3 2020
- Bamboo helps Nigerians create wealth by investing in Nigeria and United State stocks.
- Eden is a tech-enabled concierge service for Nigerians to live better and simpler lives.
- Releaf is improving the value-chain of agricultural products in Nigeria starting with the oil palm fruit.
- Tambua Health has invented precise, non-invasive and radiation-free lung imaging devices for use by primary health care providers.
- Indicina is building Africa’s credit infrastructure to digitise the credit value chain and improve decision making by creditors.
- Evolve Credit is a marketplace for financial services in Nigeria. It helps Nigerians make better financial decisions.
- Shara is building a distribution platform to help FMCGs provide financial and logistical support to retailers.
- Myawayhome is the trusted service for diasporans to own and manage property back home.
- Stears is building a media and data network for Africa to help individuals, development organisations, investors, governments and companies access data they need to make better decisions.
Future Africa’s founder Iyinoluwa Aboyeji, commenting on the types of startups it backs said: “We believe there is a truly unique opportunity for innovators to turn our continent’s biggest challenges into massive business opportunities. We will continue to provide capital, coaching, and community to founders building the future in Africa”.
He adds that the firm is particularly excited about opportunities in the remittances, financial infrastructure, media, and the environment. The firm notes that it has reopened admissions into the Future Africa Collective to join its existing syndicate of 125 angel investors.
Iyinoluwa Aboyeji; Olabinjo Adeniran, Adenike Sheriff, and Chuba Ezekwesili in March 2019. The firm invests in startups via its Future Africa Collective – a syndicate for angel investors, Future Africa Rolling Fund – an investment subscription product, and the Future Africa Fund.