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1. TRACXN MONTHLY REPORT
FEBRUARY 2021
AFRICA TECH

2. Africa Tech - February 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 - February 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Africa Tech Snapshot – February 2021
Africa Tech: Snapshot – February 2021
Note : "Investors" refers to "Institutional Investors" only
3
$230M
6
Overall Geo Stats
18
2
35
12
17
Funding Rounds $ Invested Analyst Picks
Stitch Upgraded to
MINICORN
New Investors
Optimizer Foundation
ACDI
Series A+ rounds Active Investors IPOs Acquisitions
Parcelninja#@
Surebet Kenya#@
Top Funding Rounds Top Markets Top Investors Top Cities
Monthly Leader Board
Johannesburg
(3 Rounds, $220M)
Nairobi
(3 Rounds, $1M)
Cape Town
(2 Rounds, $4M)
Cairo
(2 Rounds, $1.1M)
$110M - Series B
TYME (2012, Johannesburg, $110M)
$110M - Series B
TymeBank (2012, Johannesburg, $123M)
$4M - Seed
Stitch (2019, Cape Town, $4M)
$3.5M - Series A
Diool (2015, Douala, $5.6M)
JG Summit Holdings
(2 Investments)
Apis Partners
(2 Investments)
500 Startups
(2 Investments)
FMO
(1 Investments)
Banking Tech
TYME
Cybersecurity
RegTech
Payments
Diool
Market Size
Companies Covered 14,772
Funded Companies 2,026
Total Funding $6.6B
Funding in last 12 months $630M
Top Exits
IPOs 37
Acquisitions 221
Company Stage
Unicorns -
Soonicorns 11
Minicorns 87
Editor Picks 770
Series A+ 279
Series C+ 77
Acqui-Hires 4
Deadpooled 1,673
Top Cities
Cape Town (254 Rounds, $687M)
Lagos (235 Rounds, $1.2B)
Top Investors
Flat6Labs Cairo (58 Investments)
500 Startups (34 Investments)

4. Africa Tech - February 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Investment Snapshot
Investment Snapshot of Africa Tech as of February 2021
Africa Tech: Investment Snapshot
4
# Rounds
$ Funding
Investment Trend Top Investments (February 2021)*
TymeBank
(2012, Johannesburg, $123M)
$110M - Series B JG Summit Holdings
TYME
(2012, Johannesburg, $110M)
$110M - Series B Apis Partners
Stitch
(2019, Cape Town, $4.0M)
$4.0M - Seed The Raba Partnership
Diool
(2015, Douala, $5.6M)
$3.5M - Series A The Lundin Group
Sakneen
(2019, Cairo, $1.3M)
$1.1M - Seed Algebra Ventures
Kasha
(2016, Nairobi, $8.5M)
$1.0M - Series B DFC
MortgageMarket
(2018, Rivonia, $1.2M)
$681K - Seed IDF Capital
*Shows only the lead Investors

5. Africa Tech - February 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
List of Funding Rounds (1/2)
List of Funding Rounds in Africa Tech in February 2021
Africa Tech: List of Funding Rounds
Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+), PE
5
LATE STAGE
Series D
Sarwa Capital (2009, Cairo, $56.0M)
Diversified NBFI
EARLY STAGE
$1.0M - Series B
Kasha (2016, Nairobi, $8.5M)
Online retailer of multi-category women's healthcare
products
DFC, Finnfund, Swedfund
EARLY STAGE
$3.5M - Series A
Diool (2015, Douala, $5.6M)
Cloud-based mobile payment solution for businesses
The Lundin Group
EARLY STAGE
$110.0M - Series B
TYME (2012, Johannesburg, $110.0M)
Designs and builds digital banking ecosystems.
Apis Partners, JG Summit Holdings
EARLY STAGE
$110.0M - Series B
TymeBank (2012, Johannesburg, $123.3M)
Internet first bank
JG Summit Holdings, Apis Partners
EARLY STAGE
Series B
Nomanini (2011, Cape Town, $5.0M)
Financial inclusion solution provider
FMO
SEED STAGE
$681.3K - Seed
MortgageMarket (2018, Rivonia, $1.2M)
Loan comparison platform for residential mortgages
IDF Capital
SEED STAGE
$1.1M - Seed
Sakneen (2019, Cairo, $1.3M)
Online real estate platform to buy and sell residential
properties
Algebra Ventures, Hem, Foundation Ventures, Sarwa
Capital
SEED STAGE
$4.0M - Seed
Stitch (2019, Cape Town, $4.0M)
Open banking API solutions for financial institutions
The Raba Partnership, Firstminute Capital, 500
Startups, Norrsken Foundation, Musha Ventures, and
21 more

6. Africa Tech - February 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
List of Funding Rounds (2/2)
List of Funding Rounds in Africa Tech in February 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
Seed
ImaliPay (2020, Nairobi)
AI-enabled digital financial platform for gig workers
TEN13, Mercy Corps, Change Com, FINCA Ventures,
Optimizer Foundation
SEED STAGE
Angel
elmenus (2011, Maadi, $10.0M)
Online food ordering and delivery platform
David Buttress
SEED STAGE
Seed
Skudu (2017, )
Provider of fertilizer management solutions
SEED STAGE
Seed
AmiTruck (2018, Kiambu)
App-based marketplace for trucking services
Dynamo, Plug and Play Tech Center
SEED STAGE
Seed
Synatic (2013, Johannesburg)
Cloud-based data integration solution for enterprises
Umkhathi Wethu, , Allan Gray
SEED STAGE
Seed
Popote Payments (2014, Nairobi)
Financial management software
GreenHouse Capital
SEED STAGE
Seed
Thank U Cash (2018, Lagos, $650.0K)
Reward-based digital wallet for consumer payments
Betatron, 500 Startups, Predictive Venture Partners,
Craig Fenton, Brandon Drew
SEED STAGE
Seed
SEND (2017, Lagos, $125.0K)
Provider of tech-enabled freight forwarding and
customs clearance services
Uncovered Fund

7. Africa Tech - February 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
New Investors (1/2)
List of New Investors in Africa Tech in February 2021
Africa Tech: List of New Investors
7
Investor Company Info Round Amount Round Name
Optimizer Foundation
1 portfolio companies | Home - Optimizer Foundation
ImaliPay
AI-enabled digital financial platform for gig workers
Undisclosed Seed
ACDI
1 portfolio companies | Homepage - ACDI/VOCA
AgroCenta
Digital market linkage platform for smallholder farmers for their
produce
$790K Seed
Sarwa Capital
1 portfolio companies | Diversified NBFI
Sakneen
Online real estate platform to buy and sell residential properties
$1.10M Seed
Norrsken Foundation
27 portfolio companies | Venture capital firm investing in seed & series A
startups
Stitch
Open banking API solutions for financial institutions
$4.00M Seed
Uncovered Fund
1 portfolio companies | Venture capital fund investing in digital startups
SEND
Provider of tech-enabled freight forwarding and customs clearance
services
Undisclosed Seed
FINCA Ventures
3 portfolio companies | VC firm focused on early stage social enterprises
ImaliPay
AI-enabled digital financial platform for gig workers
Undisclosed Seed
UK Government
368 portfolio companies | Government backed sovereign wealth fund in the UK
AgroCenta
Digital market linkage platform for smallholder farmers for their
produce
$790K Seed
Predictive Venture Partners
3 portfolio companies | Venture capital fund focused on early stage startups
Thank U Cash
Reward-based digital wallet for consumer payments
Undisclosed Seed
Firstminute Capital
41 portfolio companies | Teh focused Seed-stage VC firm investing primarily in
Europe
Stitch
Open banking API solutions for financial institutions
$4.00M Seed
agventures.africa
1 portfolio companies |
Skudu
Provider of fertilizer management solutions
Undisclosed Seed

8. Africa Tech - February 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
New Investors (2/2)
List of New Investors in Africa Tech in February 2021
Africa Tech: List of New Investors
8
Investor Company Info Round Amount Round Name
Hem
1 portfolio companies | Restoring Historic Properties – Durham, NC | Hem +
Spire
Sakneen
Online real estate platform to buy and sell residential properties
$1.10M Seed
Dynamo
25 portfolio companies | Tech focused VC firm investing in early stage
companies in the US
AmiTruck
App-based marketplace for trucking services
Undisclosed Seed
The Lundin Group
1 portfolio companies | Provider of oil and gas exploration services
Diool
Cloud-based mobile payment solution for businesses
$3.50M Series A
TEN13
1 portfolio companies | Venture capital invesing in early stage tech companies
ImaliPay
AI-enabled digital financial platform for gig workers
Undisclosed Seed
Change Com
1 portfolio companies | Investment management firm
ImaliPay
AI-enabled digital financial platform for gig workers
Undisclosed Seed
esquared.in
1 portfolio companies | E-squared
Synatic
Cloud-based data integration solution for enterprises
Undisclosed Seed
orascomih.com
1 portfolio companies | Orascom Investment Holding
Sarwa Capital
Diversified NBFI
Undisclosed Series D
JG Summit Holdings
4 portfolio companies | Diversified conglomerate
TymeBank
Internet first bank
$110M Series B

9. Africa Tech - February 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 ▲15 Digital Native Retail Banks $120M 2 TymeBank | $110M | Series B
2 -- KYC Solutions for Banks $110M 1 TYME | $110M | Series B
3 -- KYC Solutions $110M 1 TYME | $110M | Series B
4 <> 0
Alternative Lending > Online Lenders > Diversified >
Marketplace
$53.0M 2 Jumo | $52.0M | Series C
5 ▼-2 Mobile Banking Software $52.0M 1 Jumo | $52.0M | Series C
6 -- Agriculture Drones $22.5M 2 Aerobotics | $17.0M | Series B
7 ▼-2
Road Transport Tech > Mass Transit > Shuttle >
Aggregator
$20.3M 2 Swvl | $20.0M | Series C
8 ▲12 Pharmacy IT > Pharmacy Management Systems $18.5M 1 mPharma | $18.5M | Series B
9 -- ERP for SMBs $16.7M 1 Zagace | $16.7M | Seed
10 ▲26 Biotech R&D > Services and Enablers > Biorepository $15.0M 1 54gene | $15.0M | Series A

10. Africa Tech - February 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
New Analyst Picks (1/2)
Interesting Companies identified by Analysts in Africa Tech in February 2021
Africa Tech: Analyst Picks
10
Upgraded to MINICORN
Stitch (2019, Cape Town, $4.0M, Seed)
Open banking API solutions for financial institutions
André Moniz, Nitesh Banta, CRE Venture Capital and 23
other Investors
Upgraded to MINICORN
Diool (2015, Douala, $600K, Seed)
Cloud-based mobile payment solution for businesses
The Lundin Groupand
Added to Editor's Pick
Kasha (2016, Nairobi, $5.3M, Series B)
Online retailer of multi-category women's healthcare
products
Swedfund, Sorenson Capital, SPRING Accelerator and
11 other Investors
Added to Editor's Pick
ARM Pensions (1994, Lagos, Undisclosed, Series A)
Retirement planning and pension management
platform
Helios Investment Partners,LeapFrogand
Added to Editor's Pick
Popote Payments (2014, Nairobi, Undisclosed,
Seed)
Financial management software
GreenHouse Capitaland
Added to Editor's Pick
DilenyTech (2018, Giza, $160K, Grant (prize money))
Provider of an AI based medical imaging and cancer
diagnostic tool for radiologists and healthcare
professionals
Information Technology Industry Development
Agencyand
Added to Editor's Pick
Releaf (2017, Unfunded)
Provider of industrializing food processing platform for
crop farming
Agrolay Venturesand
Added to Editor's Pick
iFings (2015, Cape Town, Unfunded)
IoT based platform & sensing solutions
Added to Editor's Pick
MYCHURCHMATE (2017, Unfunded)
Web-based platform for church management
Added to Editor's Pick
WhoYou (2011, Johannesburg, Unfunded)
KYC & onboarding solutions for multiple sectors

11. Africa Tech - February 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
New Analyst Picks (2/2)
Interesting Companies identified by Analysts in Africa Tech in February 2021
Africa Tech: Analyst Picks
11
Added to Editor's Pick
YeboERP (2018, Johannesburg, Unfunded)
Cloud-based enterprise resource planning software
provider
Added to Editor's Pick
Infinitus Reporting (2010, Fourways, Unfunded)
Provider of corporate performance management and
financial planning software for businesses

12. Africa Tech - February 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Acquisitions
List of Acquisitions in Africa Tech in February 2021
Africa Tech: Acquisitions
12
Acq. Date Company Acquirer Deal Size
01 Feb 2021
Parcelninja(2012, Johannesburg, $1.7M)
Provider of tech-enabled warehousing & fulfillment services
Imperial Logistics
04 Feb 2021
Surebet Kenya(2020, Nairobi)
Online betting platform for multi-category sports
Transatlantic Capital Group

13. Africa Tech - February 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Recent News (1/2)
Recent News in Africa Tech in February 2021
Africa Tech:News
13
Exit News
.
● ACCC concern for ‘lessening’ of competition over MYOB’s GreatSoft
acquisition iTWire
.
● Imperial announces half-year results and acquisition of ParcelNinja Transport Intell
.
● HPS acquires Mauritius payments processor ICPS FinTech Futures
.
● HPS strengthens its processing activities in Africa with acquisition of ICPS in
MauritiusAfrica Business Communities
.
Company News
.
● 9mobile expands 4G footprint to Ilorin commsupdate.com

14. Africa Tech - February 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
Recent Acquisitions
Most Active Acquirers
Recent Acquihires
News & Events
Recent News
News on People
News on Unicorns
Upcoming Events
Library
Recent Reports
Tracxn Blog
Global Sector Landscape

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