BaaS Startups in Africa

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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

$10.2M+

Total # of Companies

4

Total Deal Count

8

Total M&A Count

1

Total # of Investors

30

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.

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

3.

Jamborow is a B2B AI and Blockchain driven fintech platform focused on financial inclusion and grassroot empowerment.

Funding Round

$ 850,000

2018

4.

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

Undisclosed

Undisclosed

2009

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

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

Jamborow

Founded

2018

Overview

Jamborow is a B2B AI and Blockchain driven fintech platform focused on financial inclusion and grassroot empowerment.

Last round

Funding Round

Total raised

$ 850,000

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

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