5 African Start ups to look out for in 2020. These all belong to passionate individuals who saw a gap and took advantage to create multi-million start up businesses.
There is a long list of start up businesses that are making incredible impact on their communities and Africa at large. All too many to mention, here is a list of five exceptional start ups from different corners of Africa;
Egyptian trucking marketplace Trella is making big money moves having raised more than US$600,000 in a pre-seed funding round; selected for Silicon Valley-based accelerator Y Combinator; and concluding the year by acquiring local competitor Trukt.
Trella operates a B2B trucking marketplace, connecting shippers with carriers in real-time, with the goal of making the entire supply chain faster and more reliable while reducing slack and exceptions.
Rwandan fintech Exuus has been round-the clock busy honing its pitch to perfection. The startup is taking traditional savings groups online in a bid to smooth processes and help low income communities become more financially resilient. Exuus was one of 10 startups selected to pitch live to an audience of over 600 attendees at the annual Africa Startup Summit, held in Kigali; picked from more than 100 applicants from around the continent.
FlexClub is also doing exceptionally well after a solid start since launching in 2019. The South African startup allows users to purchase vehicles which are then matched with Uber drivers who pay a weekly rental charge to the investor. With a solid founding team – including two former Uber employees; the startup raised US$1.2 million in a seed round led by CRE Venture Capital and also featuring Montegray Capital and Savannah Fund in March, amidst plans to grow its team and expand into new geographies.
Insurtech startup Pineapple was founded in 2017. Pineapple allows users to get quotes and insurance on items with just the snap of a picture. The startup has been going from strength to strength since launching, raising seed funding, and taking part in Google’s Launchpad Africa accelerator and the US-based Hartford Insurtech Hub’s accelerator.
Then in 2019, it won the single biggest prize at the annual VentureClash challenge in the United States (US), securing US$1.5 million from a US$5 million prize fund.
Founded in 2017, OKO develops affordable mobile-based crop insurance products to provide smallholder farmers with the financial security they need, regardless of unstable climate trends.
The startup raised pre-seed funding of US$300,000; but is now looking to raise US$1.5 million in order to grow more quickly. There is no doubting that the company is headed towards greater heights.