African Entrepreneurs Making Waves on the Global Stage
The African entrepreneurial scene is witnessing remarkable growth and success, with several innovative startups and their founders making significant strides in various industries.
These visionary individuals are revolutionizing the fintech, food tech, and retail sectors, among others, and attracting substantial investments to support their expansion plans.
Let’s delve into the journeys of these African entrepreneurs who are making waves on the global stage and see what exciting developments they have in store for the new year.
1: Driving Rapid Expansion – Ham Serunjogi and Maijid Moujaled, Co-founders of Chipper Cash
Ham Serunjogi and Maijid Moujaled, the co-founders of Chipper Cash, have established their fintech startup as one of Africa’s most valuable ventures since its inception in 2014. With their sights set on further expansion, they raised an impressive $250 million in 2021 and launched operations in the US and the UK, enabling global remittances to Africa. As we enter 2022, all eyes are on Ham and Maijid as they continue to drive the rapid growth of Chipper Cash across more African countries.
2: Simplifying Financial Transactions – Dare Okoudjou, Founder & CEO of MFS Africa
Dare Okoudjou, the visionary founder and CEO of MFS Africa, is on a mission to make financial transactions as effortless as making a phone call. In 2021, he successfully raised approximately $100 million through debt and equity, propelling his fintech startup to become one of the top 20 African startups in terms of funds raised.
With this substantial investment, Dare’s plans for the new year are eagerly awaited, as he aims to further enhance the ease of sending and receiving money for Africans.
3: Facilitating International Expansion – Andrew Watkins-Ball, Founder & CEO of JUMO
Andrew Watkins-Ball’s fintech company, JUMO, secured an impressive $120 million in equity funding from notable investors, including Visa, Kingsway Capital, and Fidelity. This significant financial boost is set to fuel JUMO’s international expansion plans.
Present in more than six African countries, JUMO aims to extend its reach and impact even more individuals by providing innovative financial solutions. The new year promises exciting developments as Andrew and his team work towards expanding JUMO’s footprint.
4: Innovations in Fintech – Olugbenga GB Agboola, Co-founder & CEO of Flutterwave
Flutterwave, a fintech startup founded by Olugbenga GB Agboola, made headlines in 2021 by securing $170 million in equity funding during a successful Series C funding round led by Tiger Global and Avenir Growth. As we embark on a new year, the industry eagerly awaits the unveiling of new and groundbreaking innovations from Olugbenga and his team at Flutterwave.
5: Scaling the Food Tech Industry – Peter Njonjo, Co-founder and CEO of Twiga Foods
While fintech founders dominated the fundraising game in 2021, Peter Njonjo, the co-founder and CEO of Twiga Foods, showcased the success of entrepreneurs in other sectors. Twiga Foods, a food tech company, raised an impressive $50 million, aiming to achieve a valuation of $1 billion within the next five years. As we enter the new year, all eyes are on Peter and his team as they work towards realizing their medium-term goal and revolutionizing the food distribution landscape.
6: Driving Fintech Innovation – Tayo Oviosu, Founder & CEO of Paga
Paga, the fintech company founded by Tayo Oviosu, drew attention in 2021 with its transformative innovations. While no funding rounds were announced, Tayo hinted at a major fundraising event on the horizon, keeping the industry eagerly anticipating what the future holds for Paga. As the next phase of fintech innovation unfolds, Paga’s infrastructure is set to play a crucial role in driving this transformation across the continent.
7: Scaling Mobile Money Solutions – Drew Durbin, Founder & CEO of Wave Mobile Money
Drew Durbin, a serial tech entrepreneur and the founder of Wave Mobile Money, successfully raised $200 million in equity funding during a Series A funding round led by prominent investors, including Sequoia Heritage, Founders Fund, Ribbit Capital, and Stripe.
The Senegal-based fintech firm, renowned for its global remittance service SendWave, will continue its expansion under the leadership of Drew and his team.
8: Empowering Retail Distribution – Onyekachi Izukanne, Co-founder & CEO of TradeDepot
Onyekachi Izukanne, the co-founder and CEO of TradeDepot, has been hailed as the driving force behind retail distribution in Africa. TradeDepot, a B2B eCommerce and retail platform, secured over $100 million in funding in 2021, positioning itself as one of the year’s highest fundraisers.
With high expectations for the new year, industry watchers eagerly await the strategic plans and advancements that Onyekachi and his team have in store.
9: Revolutionizing Mobile Lending – Shivani Siroya, Founder & CEO of Tala
Shivani Siroya’s fintech startup, Tala, successfully raised $145 million in 2021 to fuel the expansion of its mobile lending business. Since its establishment in 2011, Tala has continuously impressed with its growth and impact.
As we enter a new year, all eyes are on Shivani and her team as they embark on their plans to further revolutionize the mobile lending landscape.
10: Enhancing Financial Services – Tauriq Keraan, CEO of TymeBank
TymeBank, a South African digital bank, raised a staggering $109 million in February and secured additional investments from Tencent and CDC to complete its $180 million Series B capital raise by the end of the year. With these funds, Tauriq Keraan, the CEO of TymeBank, aims to roll out enhanced financial services to cater to its growing mass market customer base. The industry eagerly awaits the unveiling of these new services and the bank’s continued growth.
11: Laurence Aderemi, Co-founder & CEO of Fair Money
Laurence Aderemi, the co-founder and CEO of Fair Money, has been instrumental in the growth and success of this fintech startup. While not mentioned in the original article, Fair Money has gained prominence in recent years by providing accessible financial services to the unbanked and underbanked population in Nigeria.
Laurence’s innovative approach and strategic vision have positioned Fair Money as a key player in the Nigerian fintech landscape.
12: Somto Ifezue, Odunayo Eweniyi, and Joshua Chibueze, Co-founders of PiggyVest
PiggyVest, a renowned Nigerian fintech startup, owes its success to the collaborative efforts of its co-founders: Somto Ifezue, Odunayo Eweniyi, and Joshua Chibueze. This innovative platform has revolutionized savings and investment practices in Nigeria by providing individuals with convenient digital tools and solutions.
With their relentless dedication and entrepreneurial spirit, Somto, Odunayo, and Joshua have propelled PiggyVest to become a leading player in the Nigerian fintech ecosystem.
These African entrepreneurs continue to inspire and pave the way for others in the industry, showcasing Africa’s immense potential for technological innovation and economic growth.
