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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

• Stripe expanded its tax automation service to 5 more African countries to support startup compliance and cross-border scaling.

• PalmPay was named Africa’s fastest-growing fintech by FT after surpassing 35 million users and announcing expansion into 4 new markets.

• Cross Switch entered Kenya via Pesawise, aiming to grow digital payments and support merchants with scalable infrastructure.

• Nigeria’s Central Bank launched digital BVN for the diaspora to boost remittances to $1 billion per month and widen financial access abroad.

• Chowdeck launched in Ghana with trained riders, rewards, and 30-minute delivery to fuel its pan-African expansion push.

💸 Top Funding Rounds

• Nawy secured $75 million to grow its AI real estate platform in MENA and acquired ROA to boost post-sale services.

• AURA closed $15.1 million to expand its smart emergency response API globally, starting with a U.S. launch for cross-border safety access.

• BURN got $5 million from ElectriFI to deploy 100,000 electric stoves in Kenya, cutting fuel costs and reducing 1.4 million tons of CO₂ emissions.

• Sycamore received $935,000 from Cascador to scale digital financial tools and expand access for individuals and SMEs across Africa.

• THE WHITEGUARD landed a six-figure pre-seed from DEN VC to scale AI cybersecurity across the Middle East and Africa.

🏦 About Investors

• EIB and Family Bank launched a $111 million fund to expand credit access for women and youth-led SMEs in Kenya’s trade, agriculture, and climate-smart sectors.

🚀 Startup of the Week

Introducing our Startup of the Week 🏆

Nawy

Nawy is a leading Egypt-based proptech startup founded in 2019 by Mostafa El-Beltagy and his team, offering an end-to-end digital platform for property search, advisory, financing, and investment, including innovative features like fractional ownership and Buy Now, Pay Later options. The company has completed over $1.4 billion in property sales and grown revenue fiftyfold since 2020, driven by its AI-powered recommendation engine and rising demand for real estate in inflationary markets. Nawy recently raised $75 million—including $52 million in equity and $23 million in debt—from global investors like Partech Africa, e& capital, Shorooq Partners, and top Egyptian banks, while also acquiring ROA to strengthen post-sale services and prepare for regional expansion into Morocco, Saudi Arabia, and the UAE.

💼 Investor of the Week

Introducing our Investor of the Week 🏆

Family Bank

Family Bank, a well-established Kenyan commercial bank founded in 1984 and renowned for its extensive SME customer base, digital banking innovations, and strong presence in financial inclusion, has partnered with EIB Global to launch a $111 million financing package aimed at expanding credit access for women-led and youth-led SMEs in Kenya’s trade, agriculture, and climate-smart sectors. Under this deal, EIB Global contributes $55.5 million while Family Bank matches the amount, targeting at least 50% of funds to women-led businesses and 30% to youth entrepreneurs, supported by technical assistance to strengthen gender-focused products and empower underserved communities.

🤑 Opportunity Radar

Call for Applications: Techstars New York City Accelerator

Apply to the Techstars New York City Accelerator by June 11th, 2025 to join one of the most founder-focused programs in the world. This in-person accelerator kicks off in September 2025 in the heart of NYC—home to leading hospitals, financial institutions, enterprise buyers, and media powerhouses. With a personalized approach, hands-on support, and access to a global network of 4,800+ startups, Techstars NYC is ideal for early-stage founders building in AI/ML, fintech, health, climate, enterprise SaaS, and beyond. Don't miss the chance to grow your startup in one of the world’s most dynamic ecosystems.