Out of over 500 applications from 48 African nations, Renew Capital has chosen 15 African innovation firms to move forward through its first Renew Venture Lab: EmFi Series.
Renew Capital is a 13-country pan-African investment firm that supports innovative entrepreneurs who use technology to seize Africa’s most promising prospects. It is one of the most active investors in the development of Africa’s booming technology industry.
For its first Renew Venture Lab: EmFi Series, the business has now chosen 15 startups. This happened after 47 startups were chosen for a pitch competition and granted a startup package worth more than US$250,000 after over 500 applications were invited to exclusive expert sessions with founders from some of Africa’s fastest-growing businesses.
From this group, the 15 were selected to advance to deeper technical training and investment consideration. The 15 companies represented Ethiopia, Ghana, Kenya, Morocco, Nigeria, Senegal, South Africa, Togo, Uganda and Zambia.
“The next generation of Africa’s small business banks won’t be banks. They’ll be startups that already understand how SMEs operate, have their data and have earned their trust. These 15 companies are building from that advantage. That’s why we’re paying attention,” said Matthew Davis, co-CEO of Renew Capital.
The top 15 companies are:
