Talenteo, Paysika, ChipMango, Delta Oil and Bekia will each receive up to $200,000 and join Madica’s 18-month company-building program.

The investments bring Madica’s portfolio to 18 companies across 10 African markets and increase its announced capital deployment in 2026 to $1.6 million. Madica previously committed up to $600,000 to three startups in April.

Alongside the funding, the five companies will receive mentorship, executive coaching, peer learning, fully funded immersion trips and introductions to Madica’s global investor network.

The program is affiliated with Flourish Ventures, a global early-stage fintech investment firm with $850 million under management.

Talenteo is an Algerian human resources technology company co-founded by Louai Djaffer.

The company provides an integrated platform through which medium-sized businesses can manage payroll and other human resources functions.

It operates in Algeria and Tunisia, targeting companies seeking software designed for the operational and regulatory requirements of Francophone African markets.

Cameroon-based Paysika, co-founded by Roger Nengwe and Stezen Bisselou, provides digital financial services to consumers and small and medium-sized businesses in Central Africa.

Its platform supports virtual and physical payment cards and allows customers to access selected services through digital channels such as WhatsApp, Messenger and Telegram.

The company is building on the region’s mobile money infrastructure to expand access to online payments and other financial services.

ChipMango, founded in Nigeria by Ola Fadiran and Jovan Andjelich, combines semiconductor design services with engineering education and the development of edge artificial intelligence products.

The company trains engineers using industry-focused curricula and professional chip-design tools before involving them in commercial design and verification projects.

Madica participated in ChipMango’s recently announced $1.9 million seed round, which was led by Atlantica Ventures and included DFS Labs, Kaleo Ventures, Trilinear Technologies and Malta Ventures. The larger financing illustrates Madica’s growing use of co-investment as African startups seek enough capital to operate through longer periods between funding rounds.

The two Egyptian companies operate in the circular economy. Delta Oil, co-founded by Serag Moussa, coordinates used cooking oil collection and connects suppliers with international buyers that use the material as feedstock for renewable fuels.

Bekia, founded by Alaa Afifi, pays households and businesses for recyclable materials before supplying the recovered waste to industrial buyers.

The portfolio’s mix of financial technology, enterprise software, semiconductor services and recycling reflects Madica’s sector-agnostic investment strategy.

The program accepts applications throughout the year and generally targets Africa-based companies with a minimum viable product, early commercial traction, full-time local founders and limited institutional funding.

“At Madica, we’ve always believed that exceptional founders can be found in every corner of Africa, yet access to early-stage capital remains heavily concentrated in a handful of ecosystems,” said Emmanuel Adegboye, head of Madica.

“By making our first investments in Algeria and Cameroon, we’re continuing to prove that world-class businesses can emerge from markets that have historically been overlooked by venture capital,” Adegboye added.

Madica’s geographic expansion addresses a persistent imbalance in African technology investment. Data from Partech shows that Kenya, South Africa, Egypt and Nigeria received 72% of the $4.1 billion in equity and debt funding raised by African technology companies in 2025.

The same four markets accounted for 68% of the continent’s recorded transactions, while most other countries completed fewer than 25 deals during the year.

That concentration gives startups in less-developed investment markets fewer opportunities to secure institutional funding, experienced advisers and introductions to follow-on investors.

Madica’s first transactions in Algeria and Cameroon extend these resources into markets where local companies often have limited access to established venture capital networks.

The investments also create different commercial opportunities across the four participating countries.

Talenteo can use the program to expand workforce-management software across Francophone Africa, while Paysika is targeting financial access and cross-border digital commerce in Central Africa.

ChipMango is developing specialized engineering capacity in a semiconductor industry with high barriers to entry, while Delta Oil and Bekia are organizing fragmented waste supply chains and connecting recovered materials with commercial buyers.

Madica’s latest commitments will test whether relatively small, structured investments can help African startups build stronger operations and attract additional capital outside the continent’s dominant technology hubs.

By combining financing with long-term operational support and investor access, the program is seeking to widen Africa’s early-stage pipeline while helping companies in underfunded markets prepare for regional expansion and subsequent funding rounds.