Digital Africa has announced its strategic investment in four innovative African startups, marking a significant milestone for the Fuzé initiative. These dynamic additions to the portfolio showcase Digital Africa’s commitment to fostering technological solutions aligned with Africa’s economic landscape. The startups include: Valorigo, MONSAPO, REasy, and Kwely Inc.
Valorigo: Valorigo is an online marketplace based in the Democratic Republic of Congo, streamlining access to healthcare products. By providing consumers with an easy-to-use tool to compare and access healthcare products, #Valorigo enhances sales and visibility for pharmacies. Valorigo has received support from partners IMPACT Lab and Kobo Hub.
Kwely Inc: A B2B e-commerce platform focusing on Made-in-Africa products, Kwely aspires to be the leading African B2B e-commerce platform, redefining perceptions of African products and transforming the interaction between African buyers and sellers globally.
MONSAPO: Specializing in eco-friendly and sustainable cleaning products, MONSAPO, a Tunisian startup, operates on circular economy principles, catering to both individuals and professionals.
REasy: Supporting African SMEs in global financial transactions with suppliers and partners, REasy emphasizes speed, traceability, and cost efficiency, simplifying payment processes and saving considerable time for African SMEs.
Digital Africa’s investment mechanism, Fuzé, has played a pivotal role in transforming funding accessibility for startups in Francophone Africa. Bolstered by Proparco’s support, this collaboration aims to cultivate opportunities, facilitate funding avenues, and amplify visibility for startups crafting technological solutions aligned with Africa’s economic landscape.
Digital Africa’s initiatives, including Bridge, Talents 4 Startups, and Fuzé, have already made indelible marks. The Talents 4 Startups program, with over 10,300 applications, successfully trained 294 students in its pilot phase. The second edition aims to deploy 1,000 scholarships across Africa and enhance professional integration strategies in collaboration with Edtech partners.
With an investment envelope of €6.5 million, #Fuzé comprises ideation tickets at €20K, follow-on tickets at €30K, and cumulative tickets at €50K. This funding initiative addresses startups’ financial needs during inception, positioning them for continued growth through subsequent phases.
Digital Africa continues to support businesses in later growth phases through initiatives like the Bridge Fund and the collaboration with BPI France on Africa Next. The ethos behind #Fuzé is to provide startups with the necessary tools to flourish, ensuring a seamless continuum from inception to sustained success.
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.