AFRICA – The Africa platform for startup funding, Venture Capital for Africa (VC4A) has announced the 12 ventures (11 Series A and 1 Seed+) for its 2019 Venture Showcase.
VC4A said that these companies represent the best investment opportunities on the continent. They have been vetted by 40 VC investors through a rigorous referral and selection process.
VC4A also commented that the companies demonstrate strong revenues and competitive edge, are well-positioned for regional and internal expansion, and are working on important innovations in the healthcare, finance, transport, commerce and advertising sectors.
The founders will showcase their businesses in front of the investors at Africa Early Stage Investor Summit in Cape Town on 13-14 November 2019, with the aim of raising US$250,000 and US$5 million in Series A capital. All companies provide technology-intensive or innovation-based products or services that are currently available in one or more African markets
These 12 selected startups will be linked to top VC investors as mentors in the coming weeks and receive bespoke investor readiness training that culminates in a 1-week residency in Cape Town, South Africa.
During the residency, the startups will have the opportunity to interact with and learn from their mentors, peers, and partners, before delivering their pitches on the main stage of the Africa Early Stage Investor Summit.
The program offers two days of networking opportunities at the Summit, where entrepreneurs will also engage with interested investors during deep-dive sessions. Moreover, the participants will pitch to a wider audience of corporates, investors and tech professionals at VC4A’s partner event, AfricaCom.
Four of those startups are from South Africa. These are AI-powered chatbot developer FinChatBot, vehicle leasing and ownership platform FlexClub, customer engagement platform Mobiz, and cashback coupon app Snapnsave.
Another four are from Egypt, including e-health startup 7keema, social distribution platform Brimore, and bus-booking service Buseet. The fourth Egyptian startup, VR startup VRapeutic, is the Seed+ selection.
Three Nigerian startups make the cut, in the form of PoS credit solution CredPal, blockchain startup CrowdForce, and medical distribution company LifeBank, while the list is completed by Algerian transportation service Yassir.
Mobiz chief executive officer (CEO) and co-founder Greg Chen said he was delighted at the opportunity that comes with being a Venture Showcase finalist.
VC4A is an ecosystem builder that leverages its infrastructure, network and expertise for the programs that contribute to Africa’s startup movement.
Since 2008, the organization designs, structures and implements successful entrepreneurship programs on the continent. VC4A runs an online platform, VC4A.com, featuring the world’s largest database of African startups and connecting local entrepreneurs to learning resources, mentors, investors and partner programs.