Top 10 Technology Startups to Watch in Sub-Saharan Africa; by Akinkunmi Akindiji
The tech startup scene in Sub-Saharan Africa is flourishing, with record-breaking investment and innovative ideas driving its growth. These are the top 10 startups to watch out for in the region.
Chipper Cash is a peer-to-peer cross-border payment service app that allows Africans and Europeans to send money without fees. Prior to its creation, it was difficult to send funds across countries, and platforms like PayPal had even blacklisted countries like Nigeria. Chipper Cash is now used in many African countries, including Ghana, Nigeria, Uganda, Tanzania, Rwanda, South Africa, and Kenya, and is a useful tool for businesses and merchants. The app's unique selling point is that it is free of any fees. Amount raised: $302.2 million from 6 rounds.
Jumo is a platform for financial services catering to mobile network operators and banks. Founded by Andrew Watkins-Ball, the South African and London-based app uses powerful AI to securely process financial transactions and interpret data, reducing costs and risks. Currently, the app is used in countries such as Ghana, Tanzania, Kenya, Uganda, Zambia, and the Ivory Coast, serving over 10 million customers. Jumo is definitely one to keep an eye on this year. Amount raised: $214.2 million from 6 rounds.
Payhippo is a startup that provides loans to small businesses in Africa within three hours. Small and medium-sized enterprises (SMEs) make up a large part of Nigeria's economy, accounting for 85% of employment in the country. Payhippo was created to address the difficulty small businesses face in obtaining credit, which has been limiting the country's GDP growth. Payhippo is definitely worth watching.
Trella is a B2B platform connecting multiple shippers and carriers in the freight industry. Based in Cairo, the app operates in Egypt, Saudi Arabia, and Pakistan and serves over 350 shipping partners and over 15,000 carriers. Trella was accepted into the Y Combinator accelerator and successfully acquired its local competitor, Trucko Technologies, with the aim of expanding in the MENAP region. Trella is definitely a startup to watch. Amount raised: $42.8 million in 5 rounds.
Expensya is a B2B platform that helps businesses manage and automate their expenses using APIbased tools, saving time on manual tasks. The startup serves over 100 countries and has over 600,000 active users. It has gained the attention and partnerships of major companies such as Orange, BNP Paribas, Grant Thornton, and Microsoft. The system is capable of handling simple to complex tasks, such as purchases, overheads, expense reports, commutes, per diems, and mileage expenses. Amount raised: $25.6 million from 4 rounds.
mPharma is a Ghanaian health tech startup that aims to make it easier to access and administer medical care. The company assists with financing and easy inventory management for medicine and