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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

• Visa partnered with Chari to digitize small retailers in North Africa and boost financial inclusion for informal merchants across the region.

• Moniepoint launched MonieWorld, a zero-fee remittance app for the UK-based African diaspora to expand financial inclusion.

• Vendease exited Ghana after a year due to funding gaps and operational issues, shifting focus to software-driven growth.

• Tala laid off 28 employees, 3% of its workforce, following reduced loan defaults and support needs from flexible repayment options.

• Flutterwave launched the Accelerate Workshop, a virtual program to train young Africans in Data Privacy, Design, Marketing, and Product Management.

💸 Top Funding Rounds

• Arnergy raised $18 million in Series B funding to deploy 12,000 solar systems by 2029 amid Nigeria’s energy crisis, with a shift to lease-to-own solar systems driving adoption.

• South African startup Zimi secured $320,000 to test vehicle-to-grid (V2G) technology, aiming to turn EVs into backup power sources for homes, businesses, and the grid.

• Visa invested in Tunisian fintech Konnect and Moroccan startup PayTic to scale digital payment solutions, reinforcing its $1 billion commitment to Africa’s fintech growth.

💰️ Notable Exits

• Kenyan agri-tech firm Twiga Foods acquired majority stakes in three FMCG distributors to diversify its product range and expand its reach in Kenya’s regions through strategic partnerships.

• Publishared acquired NewsCentral Media, owner of TechCentral, with plans for expansion and growth, maintaining founder Duncan McLeod's leadership and commitment to innovation.

• Seesaw acquired Little Thinking Minds to expand in MENA, enhancing Arabic-English educational content for PreK-12 students with interactive tools and literacy programs.

🏦 About Investors

• 212 Founders launched Expand212 and HQ212 to support Moroccan and global startups with tailored expansion, funding, and market access.

• DPI acquired Egypt’s fintech fund Nclude and launched DPI Venture Capital to back early-stage tech startups across Africa.

• FSD Africa Investments invested $13 million in ARM-Harith’s ACT Fund to unlock Nigerian pensions for climate infrastructure with local currency backing.

• Scalar International and Mergence launched the $150 million Africa Decarbonization Fund I to support clean energy and digital infrastructure in Southern Africa.

• Flat6Labs and Tamwilcom launched a Moroccan accelerator to support FinTech, AI, and AgriTech innovation with funding and mentorship.

🚀 Startup of the Week

Introducing our Startup of the Week 🏆

Arnergy

Arnergy, a Nigerian cleantech startup founded in 2013 by Femi Adeyemo and Kunle Odebunmi, raised $18 million in Series B funding to expand its solar solutions amid Nigeria's energy crisis. The funding will help deploy 12,000 solar systems by 2029, with a shift to lease-to-own systems boosting adoption. With over 1,800 systems deployed across 35 states, Arnergy designs modular solar systems with lithium storage and remote management to provide off-grid electricity, aiming to expand into Francophone Africa despite challenges like a proposed ban on solar panel imports.

💼 Investor of the Week

Introducing our Investor of the Week 🏆

212 Founders

212 Founders, launched in 2019 by CDG Invest—the investment arm of Morocco’s public Caisse de Dépôt et de Gestion—is a leading national program dedicated to supporting and financing startups. As part of its ongoing evolution, 212 Founders has unveiled two strategic tracks: Expand212, aimed at helping Moroccan startups expand abroad, and HQ212, designed to support international startups entering the Moroccan market. These tracks offer tailored support, legal facilitation, networking, and up to $1.3 million in co-investment, reinforcing the program’s role as a key driver of startup scalability and cross-border innovation.

🤑 Opportunity Radar

Call for Applications: The UNICEF Venture Fund

Apply to the UNICEF Venture Fund by May 8th, 2025, for a chance to receive up to $100K in equity-free funding. This opportunity is open to early-stage, for-profit startups developing Open Source frontier tech solutions—like AI, data science, or blockchain—that improve the lives of children. Companies must be registered in a UNICEF program country and have a working prototype. Women-led, women-founded, and youth-led startups are especially encouraged to apply. Submit your application in English and help drive innovation for the health and well-being of girls and women worldwide.