TechCabal Insights

Over $198M was raised by 7 #Africanstartups this week! 🌍 Here's a breakdown of each deal: ◻Kenyan e-mobility startup SPIRO secured $100M, the largest-ever investment in Africa’s e-mobility sector. The round was led by FEDA with $75M, alongside other strategic investors. (Oct 21) ◻ Nigerian fintech Moniepoint Group raised $90M from ADP III, LeapFrog Investments, Lightrock, Google’s Africa Fund, Visa, IFC, and others. (Oct 21) ◻ Nigerian-founded cleantech startup Rana Energy (Techstars ‘23) raised $3M—$500K equity and a $2.5M green debt facility from Optimum Global and FSDH Asset Management. (Oct 20) ◻ South African startup Locstat secured $2.3M in pre-Series A funding led by Portugal Gateway Fund and ANZA Capital. (Oct 21) ◻ Ivorian fintech Julaya raised $1.4M through a convertible bond investment led by CDC-CI Capital. (Oct 17) ◻ Egyptian insurtech SehaTech raised $1.1M in a seed round led by Ingressive Capital. (Oct 20) ◻ Egyptian AI startup Nanovate closed a $1M pre-seed round from angel investors. (Oct 17) 👉 Follow us for more funding updates on African Funding #tcinsights #Africantececosystem #fundingtracker #Funding

What comes after the first wave of African commerce innovation? Depth, Infrastructure, or Integration? Last week at Moonshot by TechCabal, our Associate Consultant Adedayo Ojo presented our newly released Future of Commerce 2025 report, unpacking the key trends shaping the continent's commercial future. Adedayo's presentation highlighted that Africa is a mosaic of five distinct economies, each demanding tailored regional strategies, not one-size-fits-all continental approaches. With 1.5 billion people and internet penetration surging to 43.7%, the opportunity is massive. But it's highly concentrated as Nigeria anchors West Africa's 48 million e-commerce users, Egypt drives over half of North Africa's 54 million users, while entire regions remain largely offline. The presentation showed how capital flows reveal where the market is headed. Retail captured $1.08 billion while fintech and logistics raised over $750 million combined—but as these Y-area sectors mature, consolidation is accelerating. From OmniRetail acquiring Traction to MaxAB-Wasoko acquiring Fatura, the wave of M&A activity signals that the first generation of solutions is solidifying, creating space for the next generation of builders to tackle deeper, unsolved operational challenges. 🔗 Download the full report now: https://lnkd.in/dZNDbsED #tcinsights #Futureofcommerce #FOC2026 #FutureofCommerceinAfrica

Africa’s creative economy holds immense potential, but it needs stronger policy and funding frameworks to scale. Our recent roundtable brought together regulators, donor agencies, IP experts, and creative tech leaders to chart a path toward a more supportive environment for digital creatives across the continent. With contributions from leaders representing the EU, Guinea, Ghana, Senegal, Finland, and the French Development Agency, the discussion underscored one thing: Africa’s creative future depends on collaboration and smart policy. Thanks to our expert contributors Massimo De Luca (EU Head of Cooperation to Nigeria and ECOWAS Commission), Bilia B. (Director General of the ICC at Ministry of Culture Guinea), Hon. Yussuf. I. Jajah (Deputy Minister of Tourism, Culture and Creative Arts of Ghana), Jérémie Petit (Chairman of the CCI Committee of National Entrepreneurship Council in Senegal), H.E Sanna Selin (Ambassor of Finland in Nigeria), and Sandra Kassab (Africa Department Director, French Development Agency), with moderation by Joy Mawela (Head of Digital Content Hub, Tshimologong Digital Innovation Precinct). 👉 If you were at the roundtable or joined us for the whole Moonshot experience, we’d love to hear your thoughts. 🔗Share your feedback here: https://lnkd.in/daFkUjeC . #Moonshot2025 #tcinsights #creativeeconomy #roundtablesession

Three standout startups from TC Battlefield 2025 are taking their next big step🎉! Through our partnership with Antler Africa, these founders have been selected to join the Antler Africa Lagos Cohort (October 2025) — unlocking funding, mentorship, and a global founder network to scale their ideas. Congratulations to our selected founders!

Africa's $2.27B commerce bet is on the wrong layer. In the past decade, African commerce has been transformed by innovations that digitized payments, solved delivery challenges, and brought shopping to smartphones. But regulatory complexity, inaccessible business insurance, and fragmented data systems still prevent businesses from truly scaling across borders. The next wave of value won't come from more consumer apps, it will come from the infrastructure layer that enables seamless trade. We've mapped the shift from crowded 'Y Areas' to the new 'X Area' opportunities in B2B, supply chain, and RegTech that will define the future of commerce. 👉 Read the full article here: https://lnkd.in/dKZt95nD . #tcinsights #futureofcommerceinAfrica #futureofcommerce #FOC2026

Here's why some startups raise millions and still fail... They confuse investment with validation. During our Ask an Investor session on engineering early-stage returns in Africa, Olu Oyinsan, MBA, Managing Partner at Oui Capital, cut straight to it: "The driver of return is value." Simple. Direct. True. 1. Your unit economics will expose you. Before you chase that next round, ask yourself: does each customer actually generate profit? Are they contributing to your fixed costs, or are you just racking up vanity metrics? In African markets where capital is expensive and investor patience runs thin, this isn't academic. If your math doesn't work per customer, scale won't save you. It'll speed up your collapse. 2. Investment is fuel, not proof. You can close a successful funding round and still build a failing company. The money doesn't validate your idea. What you do with it does. The real work that engineers returns? It's unglamorous. It's selling. It's proving value before scale. It's getting out of your head and into the market. Moderated by Muktar Oladunmade, the session was a well needed opening conversation: in Africa's startup ecosystem, return follows value. One unit at a time. One customer at a time. If you missed the session? The full Moonshot Roundtable Report drops soon. Be on the watch out #techcabalinsights #Africantechecosystem #tcinsights