Outlierz Ventures, a pioneer early-stage VC fund from Francophone Africa dedicated to early-stage tech-enabled companies across the continent has announced investment in five startups in the continent.
Backed by private investors from Silicon Valley, Middle East and Africa, the VC fund reviewed over 1,000 investment opportunities, engaged in conversations with more than 350 entrepreneurs across the continent, and invested in 5 of the most promising ones.
“We see tremendous opportunities at the intersection of Technology, Africa’s young and fast-growing populations, and the continent economies. Our mission is to back extraordinary founders that leverage technology to transform African traditional economies,” stated Kenza Lahlou, co-founder and Managing Partner at Outlierz Ventures.
The fund invests in tech-enabled companies solving a fundamental problem across key industries in Africa, which include FinTech, InsurTech, AgriTech, HealthTech and logistics with investment tickets ranging between US$50k and US$500k in seed stage (product on the market and first customers) and Pre-Series A companies (revenue, growth and beginning of expansion).
Here are the first 5 investments the fund made:
- WaystoCap (Morocco), Africa focused B2B marketplace that helps SMEs import and export products securely and reliably, using technology to structure the value chain of international trade in Africa. After graduating from YCombinator, WaystoCap raised $ 3M in Seed and grew from 6 to 33 employees in less than two years with headquarters in Morocco and offices in Benin and Burkina Faso.
- Sokowatch (Kenya), is reinventing consumer goods retail value chain in the informal segment across East Africa. The platform enables small shop owners to order products via SMS or mobile app, pay via mobile money and get delivered for free the next day. Sokowatch raised $ 2M from Silicon Valley and Africa investors and is accelerating its African expansion with solid monthly growth.
- Asoko Insight (UK/Anglophone Africa), is a platform that structures data on private companies and key industries in Africa, considered as the most comprehensive database of African private companies for due diligence and business development. Asoko covers more than 7 markets across the continent.
- TousFacteurs (France), is a B2B last-mile delivery company, based in Paris and co-founded by an African diaspora founder. TousFacteurs addresses the growing logistics needs of merchants and international carriers such as DHL by enabling them to leverage independent cyclists to deliver packages at unbeatable prices and time slots via an optimized tech-enabled platform.
- MaxAB (Egypt), is a B2B E-commerce marketplace that connects food and grocery retailers to suppliers in Egypt’s most underserved geographies, using a tech platform to make on-demand and predictive micro-distribution directly to small shop owners. The company is co-founded by the former General Manager of Careem in Egypt and the former operation officer of Aramex.
“We are proud to announce our first five investments in promising African tech companies led by talented entrepreneurs across different markets who have the potential to transform the continent’s economies,” said Kenza Lahlou.
Outlierz Ventures was founded by a team of entrepreneurs, investment professionals and Africa experts led by Kenza Lahlou and Ali Bensouda, as General Partners and backed by leading US and African private investors, including Michael Seibel, CEO of Y Combinator.
Image Credits: Outlierz Ventures