The document provides an overview of Africa Tech for May 2021. It includes key metrics like total funding ($43.1M), number of funding rounds (20), new investors (18), and analyst picks (24). Specific details covered include the top funded rounds, markets, investors, cities, business models, and companies upgraded to "minicorn" status or added to the editor's pick list.

1. TRACXN MONTHLY REPORT
MAY 2021
AFRICA TECH

2. Africa Tech - May 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Contents
2
Africa Tech Snapshot 3
Investment Snapshot 4
List of Funding Rounds 5
New Investors 7
Top Funded Business Models - last 1 year 9
New Analyst Picks 10
Acquisitions 12
Recent News 13

3. Africa Tech - May 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Africa Tech Snapshot – May 2021
Africa Tech: Snapshot – May 2021
Note : "Investors" refers to "Institutional Investors" only
3
$43.1M
5
Overall Geo Stats
20
1
50
24
18
Funding Rounds $ Invested Analyst Picks
Homzmart
Upgraded to
MINICORN
New Investors
Ruby Capital
Wealth Well
Series A+ rounds Active Investors IPOs Acquisitions
UDoTest#@
Top Funding Rounds Top Markets Top Investors Top Cities
Monthly Leader Board
Cape Town
(4 Rounds, $5.1M)
Nairobi
(4 Rounds, $3.2M)
Cairo
(3 Rounds, $25.0M)
Abidjan
(3 Rounds, $25.0M)
$15M - Series A
Homzmart (2018, Cairo, $17.2M)
$6.7M - Series A
Bosta (2016, Cairo, $8.1M)
$5M - Seed
telda (2019, Heliopolis, $5M)
$4.7M - Series A
Pynths (2021, Victoria, $4.7M)
MSA
(2 Investments)
Investisseurs &
Partenaires
(2 Investments)
AlphaCode
(2 Investments)
Y Combinator
(1 Investments)
Home Improvements
Homzmart
Logistics Tech
Bosta
Payments
telda
Blockchain Infrastructure
Pynths
Market Size
Companies Covered 16,242
Funded Companies 2,168
Total Funding $6.9B
Funding in last 12 months $709M
Top Exits
IPOs 37
Acquisitions 232
Company Stage
Unicorns -
Soonicorns 12
Minicorns 96
Editor Picks 822
Series A+ 291
Series C+ 78
Acqui-Hires 4
Deadpooled 1,861
Top Cities
Cape Town (263 Rounds, $701M)
Lagos (246 Rounds, $1.4B)
Top Investors
Flat6Labs (49 Investments)
Y Combinator (39 Investments)

4. Africa Tech - May 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Investment Snapshot
Investment Snapshot of Africa Tech as of May 2021
Africa Tech: Investment Snapshot
4
# Rounds
$ Funding
Investment Trend Top Investments (May 2021)*
Homzmart
(2018, Cairo, $17.2M)
$15.0M - Series A MSA
Bosta
(2016, Cairo, $8.1M)
$6.7M - Series A Silicon Badia
telda
(2019, Heliopolis, $5.0M)
$5.0M - Seed Global Founders Capital
Pynths
(2021, Victoria, $4.7M)
$4.7M - Series A LD Capital
Flextock
(2020, Cairo, $3.4M)
$3.3M - Seed Foundation Ventures
iX
(2013, Cape Town, $2.5M)
$2.5M - Series A Kalon Venture Partners
Libryo
(2015, Cape Town, $2.9M)
$1.9M - Seed
Future Energy Ventures
Management
Lami
(2019, Nairobi, $1.8M)
$1.8M - Seed Accion
Kidato
(2020, Nairobi, $1.4M)
$1.4M - Seed Learn Capital
Watobe
(2019, Cape Town, $636K)
$636K - Seed Twinkl
Rabawa
(2021, Lagos, $163K)
$163K - Seed Aptive Capital
*Shows only the lead Investors

5. Africa Tech - May 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
List of Funding Rounds (1/2)
List of Funding Rounds in Africa Tech in May 2021
Africa Tech: List of Funding Rounds
Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+), PE
5
EARLY STAGE
$2.5M - Series A
iX (2013, Cape Town, $2.5M)
Online platform providing courses in design,
technology, and data
Kalon Venture Partners, Caleo Private Equity
EARLY STAGE
$4.7M - Series A
Pynths (2021, Victoria, $4.7M)
Decentralized cross-chain synthetic asset issuance and
derivative exchange protocol
LD Capital, Ruby Capital, , One Block Capital
EARLY STAGE
$6.7M - Series A
Bosta (2016, Cairo, $8.1M)
On-demand delivery service for businesses
Silicon Badia, Wealth Well, Khwarizmi Ventures, 4DX
Ventures, Plug and Play Tech Center
EARLY STAGE
$15.0M - Series A
Homzmart (2018, Cairo, $17.2M)
Online marketplace offering home improvement
products
MSA, Nuwa Capital, Outliers Venture Capital, Rise
Capital, EQ2 Ventures, and 1 more
EARLY STAGE
Series B
Kasha (2016, Nairobi, $8.5M)
Online retailer of multi-category women's healthcare
products
SEED STAGE
$35.0K - Seed
AgriCool (2018, Pietermaritzburg, $35.0K)
Digital crowdfunding platform for agribusinesses
AlphaCode
SEED STAGE
$35.0K - Seed
Bento (2020, Cape Town, $35.0K)
Online employee benefits & perks solution for SMEs
and startups
AlphaCode
SEED STAGE
$163.0K - Seed
Rabawa (2021, Lagos, $163.0K)
Online social marketplace platform for multi-category
products
Aptive Capital
SEED STAGE
$636.0K - Seed
Watobe (2019, Cape Town, $636.0K)
Online platform providing mathematics-related
learning solutions
Twinkl

6. Africa Tech - May 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
List of Funding Rounds (2/2)
List of Funding Rounds in Africa Tech in May 2021
Africa Tech: List of Funding Rounds
Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+), PE
6
SEED STAGE
$1.4M - Seed
Kidato (2020, Nairobi, $1.4M)
Online platform providing multiple learning classes for
kids
Learn Capital, Launch Africa, Graph Ventures, Century
Oak Capital
SEED STAGE
$1.8M - Seed
Lami (2019, Nairobi, $1.8M)
Software suite for the insurance industry
Accion, Asia Africa Investment and Consulting,
Consonance Capital, Acuity Venture Partners Limited, ,
and 2 more
SEED STAGE
$1.9M - Seed
Libryo (2015, Cape Town, $2.9M)
Cloud-based legal compliance management solution
provider
Future Energy Ventures Management, , Nextlaw
Ventures
SEED STAGE
$3.3M - Seed
Flextock (2020, Cairo, $3.4M)
Offers end-to-end e-commerce fulfillment solutions
MSA, JIMCO, Flexport, Access Bridge Ventures, CRE
Venture Capital, and 4 more
SEED STAGE
$5.0M - Seed
telda (2019, Heliopolis, $5.0M)
App-based wallet for consumer payments
Sequoia Capital, Class 5, Global Founders Capital
SEED STAGE
Seed
Keiwa (2019, Abidjan)
Mobile-based accounting management software for
small & medium businesses
Investisseurs & Partenaires
SEED STAGE
Seed
Legafrik (2017, Abidjan)
Legal practice and document management software
Investisseurs & Partenaires
SEED STAGE
Seed
Poynting (2001, Centurion)
Wireless antennas and accessories provider
Technology Innovation Agency
SEED STAGE
Seed
AiCare (2020, Nairobi)
AI-enabled platform offering risk assessment solutions
Mobility 54 Investment SAS, CFAO Group

7. Africa Tech - May 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
New Investors (1/2)
List of New Investors in Africa Tech in May 2021
Africa Tech: List of New Investors
7
Investor Company Info Round Amount Round Name
Ruby Capital
1 portfolio companies | Provider of real estate, mezzanine debt, and bridge
loans
Pynths
Decentralized cross-chain synthetic asset issuance and derivative
exchange protocol
$4.70M Series A
Wealth Well
3 portfolio companies | VC & PE firm focused on multiple sectors
Bosta
On-demand delivery service for businesses
$6.70M Series A
Global Founders Capital
99 portfolio companies | Stage-agnostic tech-focused VC firm funding
companies globally
telda
App-based wallet for consumer payments
$5.00M Seed
JIMCO
1 portfolio companies | JIMCO
Flextock
Offers end-to-end e-commerce fulfillment solutions
$3.25M Seed
Learn Capital
92 portfolio companies | US focused venture capital firm
Kidato
Online platform providing multiple learning classes for kids
$1.40M Seed
tcvp.co
1 portfolio companies | The Continent Venture Partners
Lami
Software suite for the insurance industry
$1.80M Seed
B&Y Venture Partners
31 portfolio companies | Seed & growth stage tech-focused VC firm funding
companies globally
Flextock
Offers end-to-end e-commerce fulfillment solutions
$3.25M Seed
Nuwa Capital
4 portfolio companies | Venture capital firm focused on multiple sectors
Homzmart
Online marketplace offering home improvement products
$15.00M Series A
Access Bridge Ventures
1 portfolio companies | Venture capital fund investing in early stage startups
Flextock
Offers end-to-end e-commerce fulfillment solutions
$3.25M Seed
EQ2 Ventures
4 portfolio companies | Venture capital fund focused on multiple sector
Homzmart
Online marketplace offering home improvement products
$15.00M Series A

8. Africa Tech - May 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
New Investors (2/2)
List of New Investors in Africa Tech in May 2021
Africa Tech: List of New Investors
8
Investor Company Info Round Amount Round Name
Twinkl
2 portfolio companies | Operator of K-12 schools
Watobe
Online platform providing mathematics-related learning solutions
$636K Seed
Consonance Capital
10 portfolio companies | PE firm investing in the US
Lami
Software suite for the insurance industry
$1.80M Seed
Outliers Venture Capital
7 portfolio companies | Venture capital firm investing in early stage tech-driven
businesses
Homzmart
Online marketplace offering home improvement products
$15.00M Series A
Future Energy Ventures Management
4 portfolio companies | Infrastructure funds focused on energy sector
Libryo
Cloud-based legal compliance management solution provider
$1.90M Seed
Impact46
16 portfolio companies | Venture capital firm focused on multiple sectors
Homzmart
Online marketplace offering home improvement products
$15.00M Series A
Class 5
9 portfolio companies | Venture capital firm investing in multiple sectors
telda
App-based wallet for consumer payments
$5.00M Seed
Alter
1 portfolio companies | Alter Global | Venture Capital in Emerging Markets |
Alter Global
Flextock
Offers end-to-end e-commerce fulfillment solutions
$3.25M Seed
Aptive Capital
1 portfolio companies | Venture capital fund focused on impact investing
Rabawa
Online social marketplace platform for multi-category products
$163K Seed
LD Capital
23 portfolio companies | Investment firm for blockchain technology
Pynths
Decentralized cross-chain synthetic asset issuance and derivative
exchange protocol
$4.70M Series A
One Block Capital
3 portfolio companies | Digital asset investment & consulting group
Pynths
Decentralized cross-chain synthetic asset issuance and derivative
exchange protocol
$4.70M Series A

9. Africa Tech - May 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Top Funded Business Models - last 1 year
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1
year.
9
Rank Business Model $ Funding # Rounds Top Funding Round
1 ▲18 Digital Native Retail Banks $145M 3 TymeBank | $110M | Series B
2 -- Banking Software Suite $110M 1 TYME | $110M | Series B
3 ▲1 Internet First Loans Marketplace $53.0M 2 Jumo | $52.0M | Series C
4 ▼-3 Business Payments Solutions $37.0M 5 Adumo | $15.0M | Series B
5 ▲15 Farming as a Service $31.6M 2 Komaza | $28.0M | Series B
6 -- Internet First Working Capital Loans Marketplaces $17.3M 3 Adumo | $15.0M | Series B
7 ▲31 Drone Services for Agriculture $17.0M 1 Aerobotics | $17.0M | Series B
8 ▲31 Drone Based Farm Analytics $17.0M 1 Aerobotics | $17.0M | Series B
9 -- ERP for SMBs $16.7M 1 Zagace | $16.7M | Seed
10 ▲42 Home Furnishing Products Marketplaces $15.0M 1 Homzmart | $15.0M | Series A

10. Africa Tech - May 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
New Analyst Picks (1/2)
Interesting Companies identified by Analysts in Africa Tech in May 2021
Africa Tech: Analyst Picks
10
Upgraded to MINICORN
Homzmart (2018, Cairo, $1.3M, Seed)
Online marketplace offering home improvement
products
500 Startups, Rise Capital, EQ2 Ventures and 6 other
Investors
Upgraded to MINICORN
telda (2019, Heliopolis, $5.0M, Seed)
App-based wallet for consumer payments
Sequoia Capital,Class 5,Global Founders Capitaland
Upgraded to MINICORN
Libryo (2015, Cape Town, $1.0M, Seed)
Cloud-based legal compliance management solution
provider
Force Over Mass Capital, innogy Innovation Hub,
Ascension Ventures and 7 other Investors
Upgraded to MINICORN
Pynths (2021, Victoria, $4.7M, Series A)
Decentralized cross-chain synthetic asset issuance and
derivative exchange protocol
LD Capital, One Block Capital, and 1 other Investors
Added to Editor's Pick
Ensibuuko (2012, Kampala, Undisclosed, Seed)
Financial inclusion solution provider in Africa
Ed Levinson, Pallasite Ventures, and 6 other Investors
Added to Editor's Pick
Bosta (2016, Cairo, $1.4M, Series A)
On-demand delivery service for businesses
Cairo Angels, DPD, Wealth Well and 6 other Investors
Added to Editor's Pick
Kashat (2019, Cairo, Undisclosed, Seed)
App for microloans
Cairo Angelsand
Added to Editor's Pick
Flextock (2020, Cairo, $125K, Seed)
Offers end-to-end e-commerce fulfillment solutions
MSA, JIMCO, Alter and 6 other Investors
Added to Editor's Pick
Lami (2019, Nairobi, $1.8M, Seed)
Software suite for the insurance industry
Acuity Venture Partners Limited, P1 Ventures, Asia
Africa Investment and Consulting and 4 other Investors
Added to Editor's Pick
Alpha Direct (2014, Gaborone, $600K, Seed)
App-based P&C insurance comparison platform for
individuals and businesses
Launch Africa,Century Oak Capitaland
Added to Editor's Pick
Watobe (2019, Cape Town, $636K, Seed)
Online platform providing mathematics-related
learning solutions
Twinkland
Added to Editor's Pick
Kidato (2020, Nairobi, $1.4M, Seed)
Online platform providing multiple learning classes for
kids
Launch Africa, Century Oak Capital, Learn Capital and 2
other Investors

11. Africa Tech - May 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
New Analyst Picks (2/2)
Interesting Companies identified by Analysts in Africa Tech in May 2021
Africa Tech: Analyst Picks
11
Added to Editor's Pick
ITR Technology (1999, Pretoria, Unfunded)
Cloud-based IT management software provider
Added to Editor's Pick
Momentum Health Solutions (2019, Centurion,
Unfunded)
Provider of AI-based medical insurance and healthcare
solutions for employees
Added to Editor's Pick
Medpages (1996, Cape Town, Unfunded)
Online platform for listing doctors, pharmacies, and
hospitals
Added to Editor's Pick
GoPay (2019, Kampala, Unfunded)
Payment gateway solutions for merchants &
businesses
Added to Editor's Pick
Kreditus (2020, Nairobi, Unfunded)
App-based platform for personal loans
Added to Editor's Pick
Manga Abyss (2021, Unfunded)
App-based comic book reading platform
Added to Editor's Pick
HollyDesk (2020, Cairo, Unfunded)
Expense approval software for businesses
Flat6Labsand
Added to Editor's Pick
Xhuma (2017, Gauteng, Unfunded)
App-based platform providing career guidance and
bursary opportunities for students
Added to Editor's Pick
Coretec (2002, Nairobi, Unfunded)
Banking software suite
Added to Editor's Pick
TracTrac (2018, Abuja, Unfunded)
Crowdfunding platform for tractor leasing and hiring
businesses
Added to Editor's Pick
HyperCap (2020, Johannesburg, Unfunded)
Finance & accounting software for businesses
Added to Editor's Pick
DFA (2020, Algiers, Unfunded)
Open banking platform

12. Africa Tech - May 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Acquisitions
List of Acquisitions in Africa Tech in May 2021
Africa Tech: Acquisitions
12
Acq. Date Company Acquirer Deal Size
06 May 2021
UDoTest(2012, Johannesburg, $0.1M)
Direct-to-consumer screening tests for sexually transmitted
diseases and GI disorders
Recuro Health

13. Africa Tech - May 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Recent News (1/2)
Recent News in Africa Tech in May 2021
Africa Tech:News
13
Exit News
.
● Knows acquires Wires to expand apps integration Telecompaper
.
● Transaction Capital in talks to acquire controlling stake in WeBuyCars
dealership IOL
.
● Paystack Expands Operation After Acquisition, Enters South Africa Investors King
.
● Pep&Co chooses Poland for multi-billion euro IPO Fashion Network
.
People News
.
● CloudMargin Names Martin Heraghty Sales Director, DACH Region AiThority
.
● Phuthuma Nhleko to chair JSE board TechCentral
.
Company News
.
● Paystack Launches In South Africa Innovation-village

14. Africa Tech - May 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Explore more on Tracxn
Explore more about Africa Tech on Tracxn Platform
Africa Tech: Explore more on Tracxn Platform
14
Companies
Recent Companies Covered
Funded Companies
Editor's Pick
Soonicorn Club
SaaS Companies in Africa
AI Companies in Africa
Fintech Companies Africa
Consumer Digital in Africa
Company Due Diligence
Detailed profile of
Competitors of
Cap Tables of
Investment Activity
Recent Investments
Investment Trend of last 10 years
Mega Investments Rounds
Investors
Most Active Investors
Most Active Angel Investors
Unicorn Investors
Exits
IPO'd Companies
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News & Events
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Upcoming Events
Library
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Tracxn Blog
Global Sector Landscape

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