Africa Startups
Visa Africa Fintech Accelerator Opens Applications for Fifth Cohort, Welcomes 22 Startups to Fourth
- Africa-focused start-ups are invited to apply for the next edition, with submissions open until August 15.
- Participating companies will benefit from a comprehensive 3-month program of training, mentorship, and networking.
- Since its launch, the program has accelerated 64 start-ups helping them add more than $3 million in revenue uplift during the training, and alumni to raise upwards of $55 million since completing the program.
Visa, a global leader in digital payments, announced that applications are open for the fifth cohort (Cohort 5) of its Visa Africa Fintech Accelerator, a 12-week intensive program designed to help startups fast-track their growth and impact. Fintechs with a minimum viable product (MVP) or a market-ready solution based in Africa are invited to apply before August 15.
Visa also announced 22 participating startups for the fourth cohort (Cohort 4) of its program, spanning 12 countries. These startups aim is to tackle challenges in Africa’s fintech sector and promote financial inclusion and digital growth. They provide solutions in Small and Medium Business (SMB) digitization, lending, cross-border payments, payroll, business-to-business (B2B) payments, AI-powered payments, social commerce, climate insurance, and neo-banking.
The Visa Africa Fintech Accelerator offers Africa-focused startups mentorship, tailored training, networking, and access to funding and resources, helping them advance in the fintech sector. This initiative is part of Visa’s continued commitment to advancing Africa’s digital economy, and the company’s pledge of $1 billion by 2027 to transform the payments ecosystem.
Since its inception in 2023, the Visa Africa Fintech Accelerator program has accelerated 64 fintechs across three cohorts, with an estimated cumulative portfolio value of $1.1 billion. In the first three cohorts, participation has spanned 17 countries with operational footprint in 31. Nearly two-thirds (62%) of the startups included women on their leadership teams. Collectively, these fintechs have added more than $3 million in revenue during the course of the training, and alumni have subsequently raised more than $55 million following completion of the program[1].
[VISA SPOKESPERSON] stated: “Visa is committed to fostering innovation and promoting access and inclusion within Africa’s financial ecosystem. As digital transformation accelerates across the continent, we are pleased to invite applications for Cohort 5 of the Visa Africa Fintech Accelerator, in alignment with our mission to support emerging start-ups in advancing their innovative solutions. We are also proud to introduce the participants of Cohort 4, whose diverse initiatives are set to deliver meaningful benefits to individuals, merchants, and businesses.”
The virtual Accelerator program will conclude with an in-person Demo Day, where startups will have the opportunity to pitch their innovations to key ecosystem players, funding partners, angel investors, and venture capitalists.
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Startups shortlisted for Cohort 4 of the Visa Africa Fintech Accelerator are:
- BigDot.ai (Zimbabwe): BigDot is helping SMEs use less cash through digital transformation, seamless checkouts, and blockchain-powered financial inclusion.
- ChatCash (Zimbabwe): ChatCash enables African SMEs to sell and get paid through popular messaging apps using AI-powered, multilingual tools. The platform integrates payments, customer engagement, and business resources.
- Credify Africa (Uganda): Credify is bridging the trade finance gap for African importers by providing seamless access to capital, logistics, and cross-border payments.
- Flend (Egypt): Flend is a digital NBFI for SME finance, providing tech-enabled, data-driven solutions to close the financing gap for underserved businesses in North Africa.
- Hsabati (Morocco): Hsabati is a platform that helps businesses manage operations, enabling data collection and ecosystem scoring to facilitate financing through partner banks.
- IPT Africa (Mauritius): IPT Africa provides cross-border payments solutions, including payroll processing, real-time FX pricing, and same-day bulk payments.
- Lemonade Payments (Kenya): Lemonade’s white-label digital payments solution empowers businesses with secure, blockchain-powered wallets, without compromising user data.
- Maishapay (Democratic Republic of Congo): Maishapay is an all-in-one B2B financial platform offering payroll solutions, digital payments, and POS terminals to help streamline transactions.
- MNZL (Egypt): MNZL is expanding access to credit through a digital platform for asset-backed financing by tapping into consumers home and car equity.
- Motito (Ghana): Motito is an asset financing marketplace that provides alternative payment options for customers to purchase essential assets.
- Muda (Kenya): Muda is a digital asset exchange and OTC platform focused on cross-border payments and stablecoin liquidity solutions for African businesses and fintech’s.
- mystocks.africa (Botswana): Mystocks.africa simplifies investing across African stock markets by providing a unified platform for trading all African stocks.
- OKO Finance Ltd (Ivory Coast): OKO distributes automated climate insurance, allowing farms to boost their climate resilience and banks to de-risk their investment in agricultural projects.
- PressPayNg (Nigeria): PressPayNg is an education-focused fintech platform that provides banking, financing, savings, and insurance solutions to help parents, guardians, youths, and students fund education.
- Sevi (Kenya): Sevi streamlines B2B payments within non-digital value chains. This optimizes efficiency in credit, payments and reconciliation for the supplier, and access to stock and stock financing for small retailers.
- Shiga Digital Inc (Nigeria): Shiga Digital provides simplified access to decentralized financial solutions for the African market with a purpose-built Defi account.
- ShopOkoa (Kenya): ShopOkoa provides AI-driven credit and payment solutions to small- and micro-enterprises in Africa. It operates as a membership-based system combining daily savings, revenue-based financing, and automated cashflow tracking.
- Startbutton (Nigeria): Startbutton is a merchant of record helping businesses expand across Africa by paying and receiving local currency payments from their customers in a tax efficient and compliant manner, and without the need to setup local offices.
- Twiva (Kenya): Twiva is a social commerce platform where businesses market and resell their products and services through social media influencers.
- Vittas (Nigeria): Vittas empowers healthcare providers with access to tailored financing, digital tools, and payment solutions, enabling them to improve patient care.
- Woliz (Morocco): Woliz is a fintech ecosystem transforming nano-stores into digital hubs with loyalty rewards, payments, and AI-driven operations.
- Zazu (South Africa): Zazu is a neobank for African small and medium-sized businesses, providing digital business accounts, expense management, invoicing, and bookkeeping tools in one platform.
About Visa Inc.
Visa (NYSE: V) is a world leader in digital payments, facilitating more than 215 billion payments transactions between consumers, merchants, financial institutions, and government entities across more than 200 countries and territories each year. Our mission is to connect the world through the most innovative, convenient, reliable, and secure payments network, enabling individuals, businesses, and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere, and see access as foundational to the future of money movement. Learn more at Visa.com.
Africa Startups
Nigerian Food Processing Company Tomato Jos Secures $2M Debt Facility to Expand Production and Smallholder Farmer Network
The naira-denominated facility from Sabou Capital links investor returns to the company’s social and economic impact.
Tomato Jos Farming and Processing Limited, a Kaduna-based tomato paste manufacturer, has secured a $2 million impact-linked debt facility from Sabou Capital.
The naira-denominated financing will support the expansion of Tomato Jos’ processing capacity, smallholder farmer network and domestic operations as Nigeria moves to reduce its reliance on imported tomato paste.
Linking Financial Returns to Measurable Impact
The facility is structured as impact-linked debt, meaning elements of the investor’s financial return are connected to agreed social and economic outcomes generated by the borrower.
The model is intended to align Tomato Jos’ commercial growth with outcomes including local employment, higher farmer incomes and greater participation by women in the agricultural supply chain.
“Tomato Jos is exactly the kind of business we back, one that turns an import dependency into local jobs, farmer income, and a stronger domestic economy,” said Surayyah Ahmad, Managing Partner at Sabou Capital. “We structured this deal so that our financial return grows with the impact they create.”
Tomato Jos directly employs 204 people and purchases tomatoes from more than 3,000 smallholder farmers, around 60% of whom are women. Sabou Capital said the company meets all four criteria of the 2X Challenge, a global benchmark for gender-lens investing.
Building a Domestic Tomato Processing Business
Founded in 2014 by Mira Mehta, Tomato Jos is a vertically integrated agricultural company producing branded tomato paste in Kaduna State.
The company operates a farm in Kangimi, within the Igabi Local Government Area, alongside a processing facility built to convert locally grown tomatoes into finished consumer products. Its model covers cultivation, sourcing from smallholder farmers, processing and distribution.
Mehta developed the idea after observing a tomato surplus in northern Nigeria while the country continued to depend heavily on imported tomato paste.
Sabou Capital describes Tomato Jos as operating one of Nigeria’s most technologically advanced tomato-processing facilities and working with the country’s largest network of smallholder tomato farmers.
Import Restrictions Create an Opening for Local Producers
Nigeria consumes more than 2.3 million tonnes of fresh tomatoes annually, while imports have historically met as much as 90% of demand for processed tomato products, according to Sabou Capital.
The investment follows the Federal Government’s restrictions on tomato paste imports, creating a larger addressable market for domestic manufacturers with established processing facilities and local supply chains.
Tomato Jos plans to compete for at least 10% of the domestic market. The company will use the financing to increase production and strengthen its ability to source tomatoes locally as demand for Nigerian-made products grows.
“The opportunity in front of us is real, but so is the competition; we’re up against international organisations with deep pockets,” Mehta said. “We are grateful to investors like Sabou who understand why our business matters beyond the cheque they write and the financial return they will get.”
Expanding the Smallholder Supply Chain
Tomato Jos intends to grow its network of smallholder suppliers and eventually source at least half of its raw materials from independent farmers.
Although the company currently purchases directly from more than 3,000 farmers, Mehta said its operations support a wider community of more than 10,000 farmers and family members.
The transaction also aligns with Sabou Capital’s strategy of providing adaptive credit and structured debt to growth-stage companies in underserved African markets. The Abuja-headquartered investment firm focuses on businesses operating in sectors including agriculture, healthcare, financial technology, logistics and essential consumer services.
Africa Startups
Pan-African Fund 3IF Ventures Makes Debut Investment in Kenyan InsurTech Turaco to Expand Insurance Access Globally
The undisclosed investment backs an embedded insurance company that has reached more than eight million people across Africa.
Mauritius-based 3IF Ventures has made its first investment, backing Nairobi-based embedded insurance company Turaco.
The financial terms were not disclosed. The transaction marks the first portfolio investment from 3IF Ventures, a pan-African fund established to support technology-enabled companies addressing the continent’s insurance protection gap.
3IF Ventures Begins Deployment
3IF Ventures invests from pre-Seed through Series B across insurance and adjacent sectors. The fund typically provides between $250,000 and $750,000 at the early stage, with investments exceeding $1 million possible at the Series A and Series B stages.
In June 2026, the Inclusive Insurance Investment Fund reached a $12 million first close, backed by limited partners including FSD Africa Investments and ZEP-RE. The fund is targeting a final close of $30 million.
Its investment strategy focuses on three structural barriers that limit insurance adoption in Africa: access, affordability and awareness, which the firm describes collectively as the “3A Challenge.”
3IF Ventures estimates that more than 90% of African households and micro, small and medium-sized enterprises lack insurance coverage. In addition to providing capital, the fund plans to offer portfolio companies insurance expertise, operational support and connections to insurers, reinsurers and other industry partners.
“Turaco has built a very strong model with clear traction and expansion strategy,” said Anthony Chaillet, General Partner at 3IF Ventures. “We are excited to work alongside Ted and the team on the next phase of growth.”
Turaco Reaches Eight Million People
Founded in 2019 by Ted Pantone and Peter Gross, Turaco provides affordable embedded insurance products to underserved customers through partnerships with consumer-facing companies.
Turaco says it has reached more than eight million people across six African markets. The company recently entered its first Asian market through a launch in Pakistan.
The company distributes insurance through partners including ASA International, M-KOPA and Safaricom. These partnerships allow customers to access coverage through platforms and services they already use.
Turaco combines embedded distribution with proprietary underwriting and claims technology. Its products are primarily designed for low-income customers who may have limited access to conventional insurance services.
Expanding an Africa-Built Insurance Model
Turaco began operating in Kenya and Uganda in 2019. It raised $2 million in Seed funding in 2020 before securing a $10 million Series A in 2022, which supported its entry into Nigeria.
The company expanded into Ghana in 2023 and obtained microinsurance underwriting licences in Kenya and Uganda in 2024. In 2025, Turaco passed five million insured customers and launched operations in Zambia and Pakistan.
Turaco has set a long-term goal of insuring one billion people globally. Its expansion into Pakistan is an early test of whether the embedded insurance model developed across its African operations can be replicated in other emerging markets.
“We are excited to welcome the 3IF Ventures team as partners in Turaco,” said Pantone, co-founder and CEO of Turaco. “As one of Africa’s leading insurance innovators, it will be great to have such seasoned (re)insurance experts in our corner.”
New Capital Supports Turaco’s Growth
Turaco and 3IF Ventures have not disclosed the size, structure or intended use of the investment.
The transaction nevertheless gives Turaco access to a fund specialising in insurance and reinsurance as it expands beyond Africa and builds relationships with additional distribution partners.
For 3IF Ventures, the investment provides an established first portfolio company with operating scale, regulatory experience and a presence across multiple markets. It also begins the deployment of the fund’s strategy to back businesses making insurance more accessible to underserved consumers and enterprises.
Africa Startups
South African FinTech Mission Mobile Secures Up to $30.9M from DNI to Scale Smartphone Financing Across Africa
The growth capital will support product development and customer expansion across Mission Mobile’s device-financing platform.
South African financial technology company Mission Mobile has secured up to R500 million, approximately $30.9 million, in growth capital led by investment group DNI.
The financing will help Mission Mobile accelerate its product roadmap, expand its customer base and grow its team as it develops smartphone-financing infrastructure for mobile network operators and retail partners.
Smartphone Financing Without Partner Credit Risk
Mission Mobile provides financed smartphones and connectivity packages to consumers who may have limited access to conventional credit.
The company manages financing, fulfilment, billing and collections on behalf of mobile network operators and retailers. Mission Mobile retains the credit exposure, allowing its partners to increase smartphone adoption without placing handset costs or customer defaults on their balance sheets.
Its underwriting technology evaluates live cash-flow and alternative data instead of relying exclusively on conventional credit bureau records. Mission Mobile says the platform can return a verified offer in under two minutes and currently records an acceptance rate of approximately 95%.
The platform was developed for prepaid and underserved mobile customers in African markets, with prices disclosed upfront and no hidden fees or unexpected penalties.
Mission Mobile Chooses Permanent Capital
Mission Mobile said it selected DNI instead of following a conventional venture capital route because of the investor’s permanent-capital model and its operational involvement in portfolio companies.
“Their approach to permanent capital and their involvement in the companies they invest in align with how we want to build Mission Mobile,” the company said. “The systems, distribution, and customer relationships we’re building need room to compound.”
The company views the partnership as a long-term arrangement that could combine its financing technology with DNI’s telecommunications distribution capabilities and relationships across South Africa.
Founded in 2023 by brothers Timothy and Adam Strike, Mission Mobile operates at the intersection of financial services, telecommunications and physical retail distribution. Timothy Strike leads the company’s commercial and product strategy, while Adam Strike serves as chief technology officer.
Building the Platform From the Ground Up
Over the past year, Mission Mobile has developed its principal technology and operational systems internally.
These include a consumer assessment engine, billing and payments infrastructure, account-management software and point-of-sale tools for retail onboarding. The platform connects real-time credit decisions with device fulfilment, recurring billing and payment reconciliation across distributed retail networks.
Mission Mobile is also exploring a broader prepaid proposition combining smartphone access, preferential voice and data rates, and customer rewards.
The company believes connecting device financing with SIM usage and loyalty programmes could help mobile network operators increase recurring revenue, customer retention and lifetime value while giving consumers greater flexibility.
DNI Expands Its Connectivity Portfolio
Mission Mobile forms part of DNI’s R2.1 billion investment commitment across connectivity, digital services and FinTech.
The wider strategy includes investments in fibre network operator Frogfoot, internet service provider Vox, prepaid fibre business Hypa and eSIM provider KnowRoaming. Together, the businesses give DNI exposure across network infrastructure, internet access, smartphones, financial services and international connectivity.
DNI operates in more than 40 countries and generates annual revenue exceeding R12 billion. The group focuses on supporting founder-led businesses while connecting them with its distribution infrastructure, industry relationships and operating capabilities.
Mission Mobile complements DNI’s existing telecommunications activities by providing device-financing technology and affordable smartphone packages through mobile operator retail networks.
Funding Supports Product and Team Expansion
Mission Mobile will use the new capital to accelerate development of its platform and extend its reach to more customers.
The company also plans to expand its team across FinTech, product and operational roles as it scales a consumer platform connecting financial services, telecoms and retail distribution.
For mobile operators, Mission Mobile aims to generate additional recurring revenue without transferring credit risk. For consumers, its model seeks to make smartphone ownership faster and more transparent, particularly for prepaid subscribers underserved by traditional financing providers.
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