Financial Inclusion Startups in Africa
Overview Powered by AI
Financial inclusion initiatives are gaining traction, but challenges remain. Local business leaders acknowledge progress by players like Finclusion Group, Alsoug.com, and Asante Financial Services Group in providing financial services to underserved populations. However, infrastructure gaps, regulatory hurdles, and financial literacy hurdles still hinder widespread adoption. Collaboration between governments, financial institutions, and fintechs is crucial to accelerate progress.
Cummulative Funding
$487.7M+
Total # of Companies
55
Total Deal Count
109
Total M&A Count
4
Total # of Investors
164
List of Financial Inclusion startups in Africa
Add Startup| Startuparrow_upward | Overviewarrow_upward | Last roundarrow_upward | Total raisedarrow_upward | Founded |
|---|---|---|---|---|
Tasaheel is a financing company for micro-projects with easy and simple payment systems. | Funding Round | $ 138,000,000 | 2015 | |
Flow48 enables SME growth by transforming future revenues into up-front capital under flexible terms. | Series A | $ 94,000,000 | 2022 | |
Fintech lender empowering individuals and MSMEs with digital financial access. | Debt Financing | $ 74,500,000 | 2014 | |
GoCab: Ivorian fintech startup empowering entrepreneurs with accessible financial solutions. | Seed | $ 45,000,000 | 2024 | |
Finclusion is a Mauritian startup which drives financial inclusion in Sub-Saharan Africa using AI powered and data driven lending. | Seed | $ 42,000,000 | 2019 | |
Mylo is a Cairo-based B2C fintech platform, spun out of B.TECH, offering Sharia-compliant consumer finance solutions. | Debt Financing | $ 37,300,000 | 2022 | |
Asante Financial Services Group is a Kenyan startup advancing financial independence of underserved small businesses and individuals in Africa. | Series A | $ 7,500,000 | 2016 | |
enza empowers Africa’s financial institutions with the innovation needed for more inclusive, opportunity-led commerce. | Seed | $ 6,750,000 | 2023 | |
Nairagram is a US-headquartered remittance service for Nigerians in diaspora. | Debt Financing | $ 6,500,000 | 2016 | |
CrowdForce is an all inclusive crowdsourcing platform for emerging markets. | Debt Financing | $ 5,180,000 | 2018 | |
Alsoug.com is a Sudanese startup that is launching a new fintech platform to support financial inclusion | Seed | $ 5,000,000 | 2016 | |
Touch and Pay Technology Services Limited (TAP) is a Nigerian NFC powered payment and financial inclusion firm | Grant | $ 3,050,000 | 2017 | |
LittleFish is a fintech startup that is enabling commerce, particularly for nano, micro, and small business owners. | Seed | $ 2,500,000 | 2021 | |
Woliz digitizes Morocco’s neighborhood shops, empowering retailers with financial access and modern tools. | Pre-seed | $ 2,200,000 | 2024 | |
Liquify is an invoice financing platform connecting African SMEs with global capital markets. | Seed | $ 2,120,000 | 2023 | |
Ghana-based loyalty rewards platform empowering everyday consumer spending. | Seed | $ 2,000,000 | 2020 | |
Cinch Markets aggregates smallholder plots into managed irrigated farms, supplying enterprise buyers and creating local income. | Funding Round | $ 1,881,000 | 2017 | |
Ohana Africa is a fintech company digitizing Africa’s traditional savings groups, empowering individuals with collective financial inclusion. | Angel | $ 1,650,000 | 2024 | |
Masroofi enables parents and kids to manage their money and spend it in a cashless way via using masroofi mobile app and pre-paid cards. | Seed | $ 1,500,000 | 2022 | |
Qwili solve’s for digital inclusion with a hybrid hardware-software product. | Seed | $ 1,200,000 | 2019 |
Founded
2015
Overview
Tasaheel is a financing company for micro-projects with easy and simple payment systems.
Last round
Funding Round
Total raised
$ 138,000,000
Employee
10,001+
Founded
2022
Overview
Flow48 enables SME growth by transforming future revenues into up-front capital under flexible terms.
Last round
Series A
Total raised
$ 94,000,000
Employee
11-50
Founded
2014
Overview
Fintech lender empowering individuals and MSMEs with digital financial access.
Last round
Debt Financing
Total raised
$ 74,500,000
Employee
51-200
Founded
2024
Overview
GoCab: Ivorian fintech startup empowering entrepreneurs with accessible financial solutions.
Last round
Seed
Total raised
$ 45,000,000
Employee
51-200
Founded
2019
Overview
Finclusion is a Mauritian startup which drives financial inclusion in Sub-Saharan Africa using AI powered and data driven lending.
Last round
Seed
Total raised
$ 42,000,000
Employee
2-10
Founded
2022
Overview
Mylo is a Cairo-based B2C fintech platform, spun out of B.TECH, offering Sharia-compliant consumer finance solutions.
Last round
Debt Financing
Total raised
$ 37,300,000
Employee
201-500
Founded
2016
Overview
Asante Financial Services Group is a Kenyan startup advancing financial independence of underserved small businesses and individuals in Africa.
Last round
Series A
Total raised
$ 7,500,000
Employee
11-50
Founded
2023
Overview
enza empowers Africa’s financial institutions with the innovation needed for more inclusive, opportunity-led commerce.
Last round
Seed
Total raised
$ 6,750,000
Employee
11-50
Founded
2016
Overview
Nairagram is a US-headquartered remittance service for Nigerians in diaspora.
Last round
Debt Financing
Total raised
$ 6,500,000
Employee
11-50
Founded
2018
Overview
CrowdForce is an all inclusive crowdsourcing platform for emerging markets.
Last round
Debt Financing
Total raised
$ 5,180,000
Employee
11-50
Founded
2016
Overview
Alsoug.com is a Sudanese startup that is launching a new fintech platform to support financial inclusion
Last round
Seed
Total raised
$ 5,000,000
Employee
11-50
Founded
2017
Overview
Touch and Pay Technology Services Limited (TAP) is a Nigerian NFC powered payment and financial inclusion firm
Last round
Grant
Total raised
$ 3,050,000
Employee
11-50
Founded
2021
Overview
LittleFish is a fintech startup that is enabling commerce, particularly for nano, micro, and small business owners.
Last round
Seed
Total raised
$ 2,500,000
Employee
11-50
Founded
2024
Overview
Woliz digitizes Morocco’s neighborhood shops, empowering retailers with financial access and modern tools.
Last round
Pre-seed
Total raised
$ 2,200,000
Employee
51-200
Founded
2023
Overview
Liquify is an invoice financing platform connecting African SMEs with global capital markets.
Last round
Seed
Total raised
$ 2,120,000
Employee
2-10
Founded
2020
Overview
Ghana-based loyalty rewards platform empowering everyday consumer spending.
Last round
Seed
Total raised
$ 2,000,000
Employee
11-50
Founded
2017
Overview
Cinch Markets aggregates smallholder plots into managed irrigated farms, supplying enterprise buyers and creating local income.
Last round
Funding Round
Total raised
$ 1,881,000
Employee
51-200
Founded
2024
Overview
Ohana Africa is a fintech company digitizing Africa’s traditional savings groups, empowering individuals with collective financial inclusion.
Last round
Angel
Total raised
$ 1,650,000
Employee
1-10
Founded
2022
Overview
Masroofi enables parents and kids to manage their money and spend it in a cashless way via using masroofi mobile app and pre-paid cards.
Last round
Seed
Total raised
$ 1,500,000
Employee
2-10
Founded
2019
Overview
Qwili solve’s for digital inclusion with a hybrid hardware-software product.
Last round
Seed
Total raised
$ 1,200,000
Employee
2-10