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
$318.4M+
Total # of Companies
38
Total Deal Count
81
Total M&A Count
4
Total # of Investors
134
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 | |
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 | |
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 | |
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 | |
Liquify is an invoice financing platform connecting African SMEs with global capital markets. | Seed | $ 2,120,000 | 2023 | |
Cinch Markets aggregates smallholder plots into managed irrigated farms, supplying enterprise buyers and creating local income. | Funding Round | $ 1,881,000 | 2017 | |
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 | |
SAPay digitizes South Africa’s taxi fares with secure cashless payments, boosting efficiency, safety, and inclusion. | Seed | $ 1,000,000 | 2022 | |
Street Wallet converts digital payments into cash within 24 hours for unbanked Africans | Funding Round | $ 350,000 | 2021 | |
Zebra CropBank helps farmers store, manage, and monetize crops, strengthening Africa’s food value chain. | Seed | $ 200,000 | 2020 | |
iFunza is a parent‑engagement super‑app connecting families and schools through integrated services. | Grant | $ 200,000 | 2022 | |
Mosabi’s platform blends fintech and edtech to bring emerging market citizens the skills and services to better manage their businesses and money. | Non-equity Assistance | $ 170,000 | 2018 | |
Mazzuma is building blockchain infrastructure tools for developers and remittances in emerging markets. | Venture | $ 125,000 | 2015 | |
Gigmile empowers Africa’s gig workers with vehicle financing and mobility-focused financial services. | Seed | $ 120,000 | 2022 |
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
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
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
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
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
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
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
Founded
2022
Overview
SAPay digitizes South Africa’s taxi fares with secure cashless payments, boosting efficiency, safety, and inclusion.
Last round
Seed
Total raised
$ 1,000,000
Employee
11-50
Founded
2021
Overview
Street Wallet converts digital payments into cash within 24 hours for unbanked Africans
Last round
Funding Round
Total raised
$ 350,000
Employee
2-10
Founded
2020
Overview
Zebra CropBank helps farmers store, manage, and monetize crops, strengthening Africa’s food value chain.
Last round
Seed
Total raised
$ 200,000
Employee
11-50
Founded
2022
Overview
iFunza is a parent‑engagement super‑app connecting families and schools through integrated services.
Last round
Grant
Total raised
$ 200,000
Employee
1-10
Founded
2018
Overview
Mosabi’s platform blends fintech and edtech to bring emerging market citizens the skills and services to better manage their businesses and money.
Last round
Non-equity Assistance
Total raised
$ 170,000
Employee
2-10
Founded
2015
Overview
Mazzuma is building blockchain infrastructure tools for developers and remittances in emerging markets.
Last round
Venture
Total raised
$ 125,000
Employee
11-50
Founded
2022
Overview
Gigmile empowers Africa’s gig workers with vehicle financing and mobility-focused financial services.
Last round
Seed
Total raised
$ 120,000
Employee
11-50