Participated · Seed · Mar 2026

Happy Pay operates an ad-supported, merchant-funded BNPL platform that lets consumers split purchases into interest-free instalments while merchants pay when transactions occur. The company integrates advertising, payments, and financing via a closed-loop AI engine that targets offers based on behavioural signals, transaction data, and affordability insights. Happy Pay has crossed 600,000 registered users and is preparing to scale to millions, investing in risk and fraud infrastructure to support that growth. It positions itself as a commerce layer beyond simple checkout integrations, enabling merchants to drive measurable sales through outcome-based ad spend. The startup was founded in 2021 by Wesley Billett, Patrick Postrehovsky, and Mark Geary. Its stated plans include deepening merchant partnerships and expanding distribution across online and physical retail channels while further developing its AI capabilities.

Participated · Series A · Oct 2025

Founded in 2018, Kuunda offers an embedded digital lending platform that lets banks and consumer platforms extend overdraft and working-capital credit to agents, micro-SMEs, and consumers. Its Lending-as-a-Service engine analyzes billions of data points to deliver tailored, sustainable credit decisions. The solution integrates directly into mobile money, e-commerce, and gig-economy channels, broadening financial access for underserved users. Kuunda has expanded from its initial markets of Tanzania and Pakistan into Uganda, Malawi, Kenya, and Mozambique, and plans further roll-outs across Africa and the MENA region. To date, the platform has powered more than USD 3 billion in loans and serves over 10 million end users. The company will apply new capital to deepen product innovation and accelerate geographic expansion while continuing to scale its LaaS offering.

Participated · Series A · Feb 2023

Sendmarc builds software that implements, monitors and maintains email authentication standards (SPF and DMARC) to prevent domain spoofing and email impersonation. The company was founded in 2020 by Sam Hutchinson, Keith Thompson and Sacha Matulovich after selling their prior communications platform. Its technology helps customers lock down domains and monitor attempted abuse, and it targets a largely underserved market of businesses that have not yet implemented global email security standards. Sendmarc has 1,000+ paying customers (about 80% in South Africa) including stock exchanges, law firms, insurers, banks, startups and law enforcement agencies across multiple regions. Customers pay monthly subscriptions between $49 and $119, generating over $2 million in ARR since 2021. The company has offices in the Netherlands, Argentina and Canada and plans to expand its product suite and scale to serve up to 100,000 customers in the next five years while growing sales teams across Africa, the U.S., Europe and Latin America. Sendmarc provides end-to-end implementation and monitoring of the DMARC industry standard to stop scammers from spoofing customers' domain names and sending fraudulent emails. The startup configures DNS and reporting for clients and charges between R450 and R50,000 per month for its service. Launched operations in July last year, Sendmarc is working with about 100 companies covering over 200 domains, though not all are paying customers. The company was founded in 2018 and has seven employees, with plans to hire roughly 10 more (sales and developers) in the next two to three months. Founders Keith Thompson and Sam Hutchinson initially self-funded the business, contributing roughly R1-million since inception; Sam joined full time in October last year and Sacha Matulovich joined recently. Management aims to expand the service to as many as 200,000 small and medium-sized firms in South Africa, while noting competition from established players such as Mimecast.

Participated · Seed · Nov 2022

Leta is a Nairobi-based logistics software-as-a-service provider whose AI-powered platform optimizes delivery routes, tracks shipments in real time, automates manifests and dispatch planning, and pulls live order data from ERP, POS and OMS systems. The platform selects optimal vehicles, applies FIFO or LIFO loading logic, and continuously updates its map layer to avoid flagged routes, enabling real-time route optimization and improved delivery efficiency. Leta charges on a per-delivery pricing model and says revenues have grown 5x since 2022 while it now powers 35+ major businesses (including KFC and Diageo) and optimizes 10,000+ daily trips across five markets. Since 2022 the company reports growth from 500,000 to 4.5 million deliveries, from moving 20,000 to 150,000 tons, and from managing 2,000 to 7,400 vehicles. Leta is piloting embedded-finance products—fuel cards for delivery partners, asset financing for vehicles and devices, and supply-chain financing for FMCG merchants—as a natural extension of its platform. The company aims to double revenue in coming months as it expands into more countries across Africa and the Middle East and emphasizes sustainability by helping clients reduce fleet size, fuel use and emissions. Leta provides a proprietary route and load optimization SaaS that helps distributors, logistics providers and marketplaces reduce vehicles needed, cut costs and improve delivery times. Its platform includes a driver app for sequenced stops and proof-of-delivery, customer tracking links, and telematics-style metrics (speed, braking, idle time, utilization). Since launch last year, Leta says it has optimized over 500,000 deliveries, moved more than 20,000 tons of goods and managed around 2,000 vehicles. The startup works with more than 20 major customers, including Simbisa Brands, Chandaria Industries, Twiga and ShopZetu. Leta is preparing a transport marketplace to enable on-demand additional vehicles and is in talks with financial providers to offer asset-financing and other fintech products. The company plans to scale beyond its current five markets (Kenya, Tanzania, Uganda, Zambia and Zimbabwe) beginning with a December launch in Ghana and later expansion into Nigeria.

Participated · Series A · Sep 2022

Numida is a Kampala, Uganda-based fintech that provides unsecured working capital loans to African micro- and small businesses using proprietary credit models and tech-enabled underwriting. Customers apply via the Numida app in minutes and can receive capital within a day instead of borrowing from informal lenders or family. Since 2021 the company has provided $20m in working capital to 27,000 businesses in East Africa. Numida intends to reinforce its Ugandan presence and launch in two new African markets while growing its active client base to 40,000 businesses. The company plans to double its team to about 200 people across credit operations, data, product development, and growth over the next 18 months. Led by CEO Mina Shahid, Numida will use the new funding to support these expansion and hiring plans. Numida began as a bookkeeping pilot in 2016 and pivoted in 2017 to focus on lending to semi-formal micro and small businesses in East Africa. The company uses a proprietary credit score and risk-based pricing to offer unsecured working-capital loans of up to $3,500 that can be disbursed in under two hours. Numida says it has provided more than $2 million in unsecured credit to roughly 3,000 businesses and currently disburses around $250,000 per month, reporting strong collections, repayment rates and client retention. Its underwriting model was built off 15,000 loans and the company iterated for months before scaling; since October 2019 it has grown lending volumes by 6x. Numida focuses on business fundamentals and cash-flow data rather than broad social or mobile data to underwrite borrowers. With the new funding it plans to expand aggressively in Uganda, pilot in a West African market (preferably Ghana), and introduce additional services such as payments, micro-insurance and deposits.