Operating in Kenya, Uganda, Tanzania, Zambia, Rwanda, and India, Power Financial Wellness offers a comprehensive digital platform that equips workers with tools to manage their finances more effectively.

By partnering with employers and gig platforms, the company provides access to services aimed at reducing financial stress and boosting productivity.

Additionally, the platform serves banks, lenders, SACCOS, and HR platforms seeking to digitize or integrate financial services.

The platform’s features include earned wage access, enabling employees to access a portion of their income before payday to avoid high-interest lending options.

It also offers savings and investment plans, long-term loans, and insurance premium financing, supporting workers in securing health, funeral, and other essential insurance policies.

“We believe in empowering individuals by giving them access to tools that enable them to pay, save, borrow, and protect their financial health,” said Brian Dempsey, founder of Power Financial Wellness.

“By linking these services directly to earnings, we provide a seamless way for workers to reduce stress and take control of their financial futures.”

Esther Mwikali, senior investment manager at Renew Capital, praised the platform’s impact, noting its significance in addressing financial needs across economies.

“Power Financial Wellness is addressing a critical need in both the formal and informal economies. Their platform offers a comprehensive, easy-to-use solution that empowers workers to manage their finances, access savings and loans, and protect their future. We are committed to continue backing growth-oriented founders across the continent,” Mwikali stated.

This funding comes as part of EdVentures’ ongoing efforts to foster innovation and growth in the education sector across the MENA region.

Founded in 2020 by Abdel Monsef Ismail, Ayman Hamza, and Hosni Ahmed, Schoolz is a technology-driven platform designed to provide safe, reliable, cost-effective transportation solutions for students.

Schoolz has quickly positioned itself as a vital service in the education ecosystem by addressing a critical need for secure and affordable student mobility.

Ibn Sina Training Academy, established in 2017, focuses on specialized medical training programs.

Its offerings include courses in medical translation, coding, and digital marketing, equipping professionals with skills to meet the demands of the modern healthcare industry.

With the addition of these two startups, EdVentures has expanded its portfolio to 24 companies, further cementing its status as the leading corporate venture capital firm in ed-tech across the MENA region.

The investments were facilitated through the EdTech Ventures Studio (EDVS) program, an innovative initiative launched by EdVentures to nurture promising startups.

Schoolz and Ibn Sina Training Academy were selected from a competitive pool of 10 startups that participated in the inaugural EDVS BootCamp.

This program aims to provide entrepreneurs with the resources, mentorship, and funding needed to bring transformative educational solutions to market.

The funds will be used to bolster the company’s artificial intelligence (AI) infrastructure and support its expansion into Ghana and Kenya.

The funding round attracted diverse investors, including Launch Africa, Microtraction, Kaleo Ventures, Octerra Capital, Marula Square, XA Africa, ARM Labs, and Techstars.  

Founded in 2015 by Ayodeji Alaran, PBR initially operated in healthcare services but pivoted to big data and analytics in 2021.

The company provides pharmaceutical giants like Sanofi with critical market insights, enabling them to make data-driven decisions on product pricing, demand forecasting, and new product development tailored to African markets.

Pharmaceutical companies in Africa often face challenges related to overproduction, stemming from a limited understanding of market demand.

PBR addresses this issue by aggregating anonymized data—including drug quantities, prices, and purchase frequencies—from pharmacies.

This data helps companies align production volumes with actual market needs, reducing waste and improving efficiency.

The company’s AI-powered analytics dashboards deliver actionable insights, such as market share and consumption trends, across Nigeria and Ghana. 

Additionally, PBR offers a generative AI feature that allows users to generate custom analytics by asking specific questions. Its clientele includes pharmaceutical companies, consulting firms, NGOs, and multilateral organizations.

“Being backed by some of the most reputable venture capital investors and angels in Africa inspires us to do more and validates the need to close the gap in healthcare big data,” said Alaran. “This data will power AI and innovation while unlocking global life sciences growth driven by Africa.”

PBR Life Sciences was part of the second cohort of the ARM Labs Lagos Techstars Accelerator program.

The investment, sourced through Futuregrowth’s High Growth Developmental Equity Fund (HGDEF), reinforces Sourcefin’s mission to address the financing needs of small and medium-sized enterprises (SMMEs) in the country.

Established in 2020, Sourcefin focuses on bridging the critical financing gap for SMMEs, enabling them to manage working capital constraints and complete public and private sector purchase orders.

The company’s approach integrates technology with procurement and project management expertise, making it a leader in supporting tender fulfilment.

The new funding will allow Sourcefin to scale its investment significantly into South Africa’s SMME sector.

Co-founder, Director, and CEO Joshua Kadish highlighted the importance of the sector for economic growth, stating:

“There is no doubt about the massive impact that well-supported SMMEs can have on our country. With the support from Futuregrowth, Sourcefin’s ability to scale investment into the SMME sector significantly increases, and it is our commitment that all R150 million will be deployed as a reinvestment into the backbone of our economy.”

Amrish Narrandes, Futuregrowth’s head of private equity and venture capital, emphasized the strategic value of the investment, saying:

“The SMME sector is vital for South Africa’s economic growth, yet traditional financing solutions often fail to meet their unique needs, particularly in government-issued orders. Sourcefin’s technology-first approach, coupled with their expertise, has created a truly transformative solution. Their proven ability to support tender fulfilment while maintaining strong financial performance made this a compelling investment opportunity.”

Futuregrowth’s HGDEF has a strong track record of supporting high-growth businesses, including hearX, Yoco, Pineapple, Retail Capital, Ozow, and Cash Connect.

This milestone places Tyme as Africa’s ninth unicorn, following Nigeria’s Moniepoint, which crossed the billion-dollar mark just two months ago.

The company aims to go public by the end of 2028.

The funding round was spearheaded by Nu Holdings, the parent company of Nubank, Latin America’s leading fintech, which acquired a 10% stake for $150 million.

Additional participants included M&G Catalyst Fund and existing investors, signaling a resurgence in investor confidence in Africa after a recent funding slowdown.

As with other African unicorns, the round primarily attracted global investors, highlighting the continent’s ongoing challenges in securing local growth capital. 

Tyme’s ascent underscores the fintech sector’s dominance in Africa’s unicorn landscape, with seven out of the nine unicorns hailing from this sector.

Founded in 2019, Tyme Group operates a hybrid model that combines digital and physical banking services, offering checking and savings accounts, debit cards, and buy-now-pay-later options.

The company serves over 15 million customers and has disbursed more than $600 million in financing to small businesses in South Africa and the Philippines.

In August 2024, TymeBank, its South African subsidiary, announced plans to enter the Indonesian market by the end of the year.

This latest funding round brings Tyme’s total investment to approximately $600 million.

The funding targets early-stage start-ups in energy, agriculture, and mobility, sectors critical to addressing the continent’s escalating climate challenges.

Equator Africa Fund specializes in supporting climate technology ventures that drive both environmental sustainability and economic growth.

With teams based in Nairobi and Lagos, the fund leverages local knowledge alongside global expertise to foster solutions that combat Africa’s vulnerability to climate change and its growing population pressures.

The urgency of the investment aligns with alarming climate projections that estimate 39 million Africans may face chronic hunger by 2050 due to climate-related impacts.

Equator’s focus on renewable energy solutions, sustainable agricultural practices, and innovations in electric mobility seeks to mitigate these effects while creating long-term economic stability.

Proparco’s investment is part of its 2023-2027 strategic pillars of advancing climate initiatives and expanding economic opportunities.

The initiative qualifies for 40% to 60% climate co-benefits, reinforcing its commitment to sustainable development.

Fabrice Perez, Head of Proparco’s Venture Capital Division, emphasized the significance of the collaboration, stating:

“Through this investment, we aim to support ventures addressing the urgent climate challenges in sub-Saharan Africa. Equator’s approach echoes our commitment to driving sustainable development and climate resilience in the region. We believe these ventures hold promise for a sustainable future, enhancing both Africa’s economic strength and environmental resilience.”

Equator’s Managing Partner, Nijhad Jamal, welcomed Proparco’s participation, highlighting the role of active funding and mentorship for emerging ventures:

“We are extremely proud to have Proparco participate in our fund and to join Equator’s mission to provide much-needed capital and active hands-on support to early-stage climate-tech ventures at a critical juncture in their start-up journey. Proparco is uniquely positioned to provide expertise, networks, and capital directly to our portfolio companies as they scale across the region.”

This investment will enable Equator to bridge the climate funding gap by empowering innovative start-ups with the resources to enhance Africa’s climate resilience.

The first investment targets Truk Rwanda, a logistics company specializing in cold chain storage and transportation of fresh fruits and vegetables.

N3F’s funding will facilitate the acquisition of refrigerated trucks and the establishment of hybrid cold rooms.

This development will enable farmers to extend the shelf life of their produce, reduce food waste, and maximize their earnings.

In addition, Truk Rwanda plays a vital role in connecting farmers in central Rwanda with vendors while offering informal training on post-harvest handling to help preserve the nutritional quality of their products.

The second investment focuses on Couvoir Amar, a poultry company based in Senegal.

With the goal of increasing domestic poultry production, Couvoir Amar aims to make poultry more affordable for lower-income households.

This initiative supports greater consumption of protein-rich poultry, addressing Senegal’s low levels of poultry intake and contributing to improved nutrition in the region.

Both investments align with N3F’s mission to strengthen food value chains, reduce waste, and improve access to affordable, nutritious food across Africa.

The funds will enable the company to strengthen its marketing and business development teams, enhance its technology, and scale operations in Nigeria, the United States, the United Kingdom, and Canada.

The funding round was led by P1 Ventures, with additional backing from Ventures Platform, Future Africa, Magic Fund, and Microtraction.

Angel investors Andrew Alli, Gbenga Oyebode, and Tunde Folawiyo also participated.

Founded in 2021 by Ife Johnson and Justin Ziegler, Juicyway operates as a marketplace that facilitates currency exchanges between local currencies and dollars.

The platform serves both suppliers—businesses that provide foreign currencies such as USD or CAD—and buyers—businesses requiring foreign currencies to complete international transactions.  

“Businesses use our services for two main purposes. Some need to convert local currency into US dollars to make international payments through our banking partners, while others leverage our accounts to bring foreign currency into the continent and convert it into local currency for disbursements,” explained Juicyway co-founder and CEO Ife Johnson.

Juicyway’s innovative approach addresses the persistent foreign exchange (FX) challenges faced by Nigerian businesses conducting frequent international transactions.