In a significant stride forward, Moroccan edtech startup Smartprof has announced a new phase of growth following an infusion of investment from Fuze, a prominent player in funding Francophone African startups. Smartprof has been redefining the educational landscape through its innovative platform that connects students seeking academic support with qualified tutors. The platform’s mission is to bridge the gap between the supply of proficient tutors and the demand from parents searching for effective tutors for their children.
Education stands as a cornerstone for a promising future, and Smartprof is at the forefront of fostering exceptional learning experiences. The Co-founder and CEO of Smartprof, Homza Faiz, expressed their excitement about the partnership with Fuze, stating that the collaboration is set to propel Smartprof’s presence within the Francophone African tech ecosystem. The streamlined and constructive investment process fostered a strong sense of trust between Smartprof and Fuze.
Beyond financial backing, Fuze brings a fresh perspective to the challenges Smartprof faces. Having an investor with a strong presence in the Francophone African region is anticipated to significantly aid Smartprof’s expansion strategy. The investment mechanism provided by Fuze is a fundamental pillar of this alliance, transforming funding accessibility for emerging startups in the region. Bolstered by a renewed vision and supported by Proparco, Digital Africa is poised for a new era of growth.
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Under the overarching umbrella of Digital Africa, initiatives like Bridge, Talents 4 Startups, and Fuze have already made lasting impressions. The Talents 4 Startups program, having garnered over 10,300 applications from African youth, stands as a testament to the region’s vibrant entrepreneurial spirit. Through collaborations with partner organizations across ten countries, Digital Africa has trained hundreds of students, expanding the program’s impact.
The synergy between Smartprof and Fuze is particularly evident in Fuze’s investment envelope of €6.5 million. The funding structure includes ideation tickets at €20,000, follow-on tickets at €30,000, and cumulative tickets at €50,000. This investment framework underscores Fuze’s mission to provide sustained financial support to French-speaking African startups, nurturing their growth trajectories. The first ideation ticket, designed to support startups during their inception, is being piloted with specific criteria focusing on regional presence, co-founder nationality, and technological solutions.
Far from limiting startups’ growth, this approach is tailored to address their evolving needs at various stages. Digital Africa’s comprehensive support system extends to later growth phases as well. For instance, the Bridge Fund, in collaboration with Proparco, offers bridge financing to startups ranging from €200,000 to €600,000. Additionally, the partnership with BPI France on Africa Next unites a community of investors ready to back startups seeking higher funding brackets.
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The ethos behind Fuze is not just about providing initial financial backing, but also about integrating startups into a continuum that equips them with the necessary tools to thrive. As Smartprof takes this monumental step forward with Fuze’s backing, the edtech sector in Francophone Africa stands poised for remarkable expansion and transformation.
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard