Renew Capital, a pan-African investment firm with a presence in 13 countries, has selected 15 startups to advance through its inaugural Renew Venture Lab: EmFi Series, a program that combines technical training with investment consideration. The selection came from a field of more than 500 applicants spanning 48 African countries.
The process ran in three stages. All 500 applicants were invited to expert sessions with founders from companies in Renew Capital's portfolio. From there, 47 companies entered a pitch competition and received a startup package valued at more than $250,000. The 15 were then chosen from that group for the deeper engagement the EmFi Series provides.
Matthew Davis, co-CEO of Renew Capital, described the investment thesis behind the cohort's focus: "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."
The selected companies span ten countries. From Ghana: AgroCenta (founder Francis Obirikorang), Boost Technology (Mike Quinn), Kutana (Samuel Opoku) and Oze (Meghan McCormick). From Nigeria: Regxta (Rukayat Bello), Rigo (Olukayode Odeyinde) and Tradevu (Nkiru Amadi-Emina). From Kenya: Zendawa (Wilfred Njuguna). From Uganda: MajibuAfrica (Janis Zicans). From Ethiopia: Marakisoft (Alemayehu Seifu). From Zambia: Fanaka (Hillary Sang). From Senegal: Dots for Africa (Carlos Oba). From South Africa: Shiprazor (Lesego Tladinyane). From Togo: Solimi (Gael Egbidi). From Morocco: Z Systems (Samer Choumar).
