BaaS Startups in Africa

Overview Powered by AI

BaaS in Africa: Gaining traction, but challenges remain. Local leaders see it as a potential game-changer for financial inclusion and digital transformation. Key concerns include regulatory compliance, infrastructure limitations, and customer adoption.

Cummulative Funding

$15.2M+

Total # of Companies

8

Total Deal Count

14

Total M&A Count

1

Total # of Investors

42

List of BaaS startups in Africa

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StartupOverviewLast roundTotal raisedFounded
1.

Banking services for the unbanked: Maplerad provides a modern banking platform for Nigerians.

Seed

$ 6,000,000

2022

2.

ARC Ride is providing the electric solution to mass-transportation in rapidly-growing African cities.

Venture

$ 5,000,000

2020

3.

Anchor is a banking-as-a-service startup that builds, embeds and launch financial products for African businesses.

Non-equity Assistance

$ 3,400,000

2021

4.

EasyBank provides digital solutions that enhance access to loans and other financial products.

Seed

$ 370,000

2023

5.

Cauri Money offers payment services for African diasporas

Grant

$ 350,000

2021

6.

hela.money aims to digitise the way money moves and flows in the global economy.

Non-equity Assistance

$ 175,000

2022

7.

Bloc is building the all-in-one FinTech infrastructure stack β€” for startups and organisations.

Undisclosed

Undisclosed

2009

8.

Menthum is an Egypt-based FinTech venture which is devising a digital saving solution that's simple & secure.

Pre-seed

Undisclosed

2021

Maplerad

Founded

2022

Overview

Banking services for the unbanked: Maplerad provides a modern banking platform for Nigerians.

Last round

Seed

Total raised

$ 6,000,000

Employee

2-10

ARC Ride

Founded

2020

Overview

ARC Ride is providing the electric solution to mass-transportation in rapidly-growing African cities.

Last round

Venture

Total raised

$ 5,000,000

Employee

11-50

Anchor

Founded

2021

Overview

Anchor is a banking-as-a-service startup that builds, embeds and launch financial products for African businesses.

Last round

Non-equity Assistance

Total raised

$ 3,400,000

Employee

2-10

EasyBank

Founded

2023

Overview

EasyBank provides digital solutions that enhance access to loans and other financial products.

Last round

Seed

Total raised

$ 370,000

Employee

2-10

Founded

2021

Overview

Cauri Money offers payment services for African diasporas

Last round

Grant

Total raised

$ 350,000

Employee

2-10

Founded

2022

Overview

hela.money aims to digitise the way money moves and flows in the global economy.

Last round

Non-equity Assistance

Total raised

$ 175,000

Employee

2-10

Bloc

Founded

2009

Overview

Bloc is building the all-in-one FinTech infrastructure stack β€” for startups and organisations.

Last round

Undisclosed

Total raised

$ 0

Employee

201-500

Menthum

Founded

2021

Overview

Menthum is an Egypt-based FinTech venture which is devising a digital saving solution that's simple & secure.

Last round

Pre-seed

Total raised

$ 0

Employee

11-50

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