The Venture Codex

Participated · Series A · Dec 2025

Founded in 2015 by Omar Saqr, Nawah Scientific operates a cloud lab that lets researchers and companies submit samples and receive advanced testing results without owning in-house equipment. Its four business units cover life-science research, food and agriculture safety testing, pharmaceutical R&D and formulation, and the production of certified reference materials used for calibration and quality control. Over its first decade, the company has processed more than one million samples, employs 160 researchers, and serves clients in over 30 countries. Revenue or profitability figures were not disclosed, but the scale of testing activity underscores meaningful commercial traction. The firm plans to channel fresh capital into a 10,000-sqm global R&D centre in Rwanda, while simultaneously doubling laboratory capacity in Egypt and Saudi Arabia. Additional expansion is slated for North Africa and Europe, positioning Nawah as a regional hub for outsourced scientific services. These initiatives aim to deepen its research capabilities and broaden market reach.

Led · Series A · Sep 2025

Kredete, founded in 2023 by serial entrepreneur Adeola Adedewe, operates a fintech platform that links cross-border remittances with a proprietary credit-building system aimed at African immigrants. Its consumer app lets users send money to more than 30 African countries and simultaneously report those transactions to boost credit scores in the United States and other markets. The company says it has attracted over 700,000 monthly users, processed $500 million in remittances, and lifted users’ U.S. credit scores by an average of 58 points. Beyond retail services, Kredete offers businesses an API layer that uses stablecoin rails for real-time, low-cost payouts across Africa. The roadmap includes launching Africa’s first stablecoin-backed credit card usable in 41 African countries, plus new products such as rent reporting, credit-linked savings, goal-based lending, and USD/EUR interest-bearing accounts. The firm is also building what it calls the continent’s largest aggregation layer of banks and wallets to provide one API for payouts. Recent funding will support geographic expansion into Canada, the UK, and additional European markets. Total funding to date stands at $24.75 million.

Led · Equity · Aug 2025

Land’Or Maroc began as an importer and distributor of Land’Or’s portioned processed cheese and in 2022 became a manufacturer with the inauguration of a factory in Kénitra after two years of construction. The company has operated in Morocco for six years and has established itself as a notable challenger in the portioned processed‑cheese segment. It targets accelerating industrial investments to grow volumes and market share, aiming to exceed 15% and reach third place nationally. The Moroccan processed‑cheese market remains dynamic and is still dominated by Les Fromageries Bel, which holds over 40% market share. In 2023 Land’Or Maroc expanded capacity with a €3.5 million loan from the EBRD (about 37 million dirhams). The group’s strategy emphasizes leveraging a strong brand and institutional investor support to scale across the Maghreb.

Led · Series A · Sep 2022

Turaco is a Kenya-based insurtech that distributes white-labeled life, asset, medical and vehicle insurance via a B2B2C model and API integrations. It partners with PayGo firms (e.g., M-KOPA), ride-hailing platforms (SafeBoda), fintechs and microfinance institutions to bundle insurance into core products. Policies can be sold from as low as $0.2 and the company reports over half a million customers, 268,000 of whom are active, with user growth of 300% since 2020. Turaco operates in Kenya, Uganda and Nigeria and says its distribution-driven approach produces conversion rates north of 50% in its partnerships. The company is in a growth phase and is pursuing more partnerships and large-brand collaborations to scale adoption. Co-founder and CEO Ted Pantone has articulated a long-term ambition to insure one billion people over 25 years and an intermediate goal of 100 million. Turaco provides affordable health and life microinsurance, with packages available for as little as R31.41 (~$2) on flexible monthly payment plans. The company is operational in Kenya and Uganda and claims to have insured over 70,000 individuals and paid nearly 2,000 claims with an average turnaround under three working days. Turaco partners with local businesses to design and distribute products and aims to expand distribution across Sub‑Saharan Africa. The startup plans to use new funding to upscale operations, develop proprietary technology, and create employment as it grows. Turaco’s leadership has articulated a long-term vision to insure a billion people over the next 25 years. Launched in 2008, Turaco offers life and health insurance products with monthly premiums as low as $2, distributed via partnerships with local companies and mobile lending organisations. The company uses a subscription model that enables consumers to opt in for automated medical policy renewals bundled with existing payments. Turaco says it has insured more than 30,000 users in Kenya and Uganda. It maintains offices in Nairobi and Atlanta and was founded by Ted Pantone and Peter Gross. Previously the startup received non-equity accelerator support of roughly $50,000–$60,000 from the Catalyst Fund and a $40,000 grant from Villgro Kenya. Turaco plans to use new funding to scale operations across Africa, cement presence in new markets, and further develop pilots and partnerships with businesses and fintech companies, targeting entry into one or two new East and West African markets next year.

Led · Series B · Aug 2022

ArabyAds operates a suite of adTech platforms—iConnect (influencer marketing), Boostiny (coupon-based advertising), Ritelo (retail media), Dmenta (live commerce), and Deviceboost (on-device contextual advertising)—to help advertisers with customer acquisition, retention, and monetization. Founded in 2013, the company is based in Egypt with offices in the UAE and tech hubs across Egypt, Tunisia, and Jordan. ArabyAds positions itself as a performance advertising delivery provider and says it is one of the MENA region’s fastest-growing and most profitable businesses. The firm plans to expand into newer markets where its scalable, secure, end-to-end platforms can support e-commerce companies globally. It will use the new funding to increase reach, invest in technological development, and hire additional personnel to support growth. The company is led by CEO and co-founder Mahmoud Fathy, who highlighted AfricInvest as a long-term investor.