May 28, 2022


Accounting + Finance Blog

Nine Nigerian Tech Startups make it to XL Africa Cohort


Below is the list of 20 tech startups that makes if to the XL Africa cohort.

Aerobotics, a Data analytic in South Africa

Asoko Insight, a Data analytic in Kenya, Ethiopia, Ghana, United Kingdom, and Nigeria

Coin Afrique, a Marketplace in Senegal and Benin

Edgepoint Digital (also called Jamii), a FinTech/Insurance startup in Tanzania

Electronic Settlement Limited, a FinTech in Nigeria

Lynk Jobs Ltd. a HR in Kenya

MAX a Transport tech in Nigeria

ogaVenue,  a Venue Platform in Nigeria

Ongair, an SME Services in Kenya, a FinTech in Kenya

Prepclass, an EdTech in Nigeria

Printivo, a Printing tech in Nigeria

Rasello Company Ltd. an SME Services in Tanzania

Rensource, an Energy tech in Nigeria

Sendy Ltd. a Delivery tech in Kenya

Snapplify a Publishing tech in South Africa and Kenya

Sokowatch, a Delivery tech in Kenya

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TalentBase, a HR tech in Nigeria

Timbuktu, a Travel tech in South Africa

Tizeti Network Ltd. a Connectivity tech in Nigeria

These tech startups are from various countries in Africa, however Nigeria startups made most of the list. Nine of Nigeria tech startups made it to the list. This is followed by Kenya startups which are six in number.

“We are pleased by the interest infoDev and XL Africa generated across the continent in just a few months,” said Klaus Tilmes, Director of the Trade & Competitiveness Global Practice at the World Bank Group. “XL Africa attracted firms with high-growth potential; many have female co-founders, have already raised early stage investment, and have demonstrated significant market traction. The number and quality of applications received are a clear testament to the competitiveness of African start-ups and the key role they play in Africa’s growing digital economy.”

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“We encountered very strong companies, particularly in the transportation, HR, and data analytics sectors,” said Danai Musandu, investment associate at Goodwell Investments. “We also observed signals of a nascent pipeline of digital companies beyond the traditional hot spots of Nigeria, Kenya, and South Africa. These talented entrepreneurs are among those who are going to drive innovation on the continent and offer great opportunities for investors looking at African markets.”

For four months this tech startups will be trained and mentored and also showcase their business models to investors that are interested in investing in Africa. The startups will have the opportunity to get seed fund between the range of $250,000 to $1,500,000 in series A capital.

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