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Welcome to another edition of 🔍 Startup Researcher - Africa, your essential digest delivering the latest news and premium insights on startups and venture capital across the region 🌍

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📰 Important News

• Revolut, the world’s fourth-largest digital bank, is exploring a South African launch, potentially disrupting the market with its financial super app.

• Flutterwave secured approval from the Bank of Ghana to offer inward remittance services, enhancing cross-border payments.

• d.light joined Nigeria’s $750 million World Bank-backed DARES program to expand off-grid solar energy, aiming to improve access to affordable power.

• Kenyan digital lender Whitepath was fined $2,000 for unlawfully listing a guarantor without consent, marking its second privacy violation.

• UK’s ICM.com is expanding services in Ghana and South Africa, enhancing trading solutions, local support, and regulatory compliance.

💸 Top Funding Rounds

• Go Big Partners and 216 Capital Ventures invested in Tunisia’s Juridoc to drive its expansion into the OHADA region, enhancing LegalTech accessibility and efficiency across 17 West and Central African countries.

💰️ Notable Exits

• Middle East-based Silver Box acquired Kenya’s Mobius Motors after financial struggles, appointing a new COO and planning to expand production, roll out new models, and revive the struggling SUV brand.

• CIG Motors has taken over LagRide’s operations, replacing its drive-to-own model with a salaried structure and planning a transition to electric vehicles to stabilize driver earnings and improve retention.

🏦 About Investors

• Equator raised $55 million to fund early-stage African climate tech startups, bridging financing gaps with investments of up to $2 million while prioritizing scalability, profitability, and regional expansion.

• Helios Investment Partners is raising $750 million for its fifth fund, backed by IFC and EIB, which committed $75 million, to invest in Africa’s digital infrastructure, fintech, and tech-enabled services.

• African investment professionals are earning 33% less than global counterparts due to smaller fund sizes, lower management fees, and limited access to carry, raising concerns about talent retention and industry growth.

🚀 Startup of the Week

Introducing our Startup of the Week 🏆

Juridoc

Juridoc.tn, a pioneering Tunisian LegalTech company founded in 2019 by Kais Assali, provides an interactive legal documentation platform specializing in business law. To support its expansion into the OHADA region, covering 17 West and Central African countries, Juridoc secured investment from Go Big Partners and 216 Capital Ventures—both backed by Tunisia’s ANAVA Fund of Funds, which aims to boost the local startup ecosystem. This strategic investment will enhance legal accessibility and efficiency across Africa, aligning with the broader goal of integrating technology into legal services for businesses and individuals.

💼 Investor of the Week

Introducing our Investor of the Week 🏆

Equator

Equator is a Nairobi-based venture capital firm, founded in 2023 by Nijhad Jamal and Morgan DeFoort, with teams in Lagos, London, and Colorado, focusing on early-stage climate tech ventures in energy, agriculture, and mobility across Sub-Saharan Africa. The firm has raised a $55 million fund, backed by DFIs like BII, Proparco, and IFC, along with foundations such as the Global Energy Alliance, Shell Foundation, and Bezos Earth Fund, to bridge financing gaps by investing up to $2 million per startup at the seed and Series A stages. With a strategy emphasizing scalability, profitability, and regional expansion, Equator, in collaboration with Factor[e] Ventures, provides both capital and operational support, positioning its portfolio for commercial success and strategic exits in Africa’s growing climate tech sector.

🤑 Opportunity Radar

Call for Applications: Brainforest’s Venture Program

Apply to Brainforest’s Venture Program by March 24, 2025, to accelerate your startup focused on nature, biodiversity, and forest solutions. Gain access to expert coaching, a strong network of impact investors and industry leaders, and the chance to secure $125,000 in funding for a 7% equity stake. The program runs from April 14 to June 5, 2025, offering tailored mentorship, financial modeling, and investor readiness support. Don’t miss this opportunity to scale your impact-driven venture—apply now and be part of Brainforest’s mission to drive environmental innovation.