Skip to content
Entrepreneur's Corner

Founders Factory Africa Secures USD114 Million

BY Soko Directory Team · August 14, 2023 07:08 pm

founders Factory Africa has secured an additional $114 million in funding to scale its model to better serve founders across the African tech ecosystem.

The additional support from the Mastercard Foundation and Johnson & Johnson Impact Ventures, an impact fund within the Johnson & Johnson Foundation, follows on from previous investments into Founders Factory Africa by Standard Bank, Small Foundation, and Netcare. The support will enable Founders Factory Africa to scale its model and better serve technology-led start-ups and founders across the African continent.

“We are excited to have new and dynamic funding, which follows on from previous investments into Founders Factory Africa by Standard Bank Group, Small Foundation, and Netcare Group,” says Alina Truhina, co-founder of Founders Factory Africa.

Since its inception in 2018, Founders Factory Africa has catalyzed the trajectory of over 55 tech start-ups across the continent. The additional funding affirms Founders Factory Africa’s hybrid investment model of combining capital and operational support and will help the early-stage investor further iterate this model by:

  • Becoming sector-agnostic  in its investment with founders who prioritize business fundamentals  and will also double down on addressing the gender imbalance in the ecosystem.
  • Broadening its capital investment offering to include non-dilutive capital, supporting the continent’s need for different capital deployment types across the venture maturity curve.

Strengthening Founders Factory Africa’s internal capacity to continue to provide its portfolio of start-ups with the best venture-building support on the continent.

“Come build with us,” says Founders Factory Africa CEO, Bongani Sithole.

“Moving Africa forward requires more of us to support tech-driven, solution-oriented ventures that have the potential to scale and make an impact at speed. Our role as Founders Factory Africa is to provide founders with the funding, knowledge, and hands-on venture-building support they need to achieve commercial success and create outsized, systematic impact.”

Read Also: Dear Entrepreneur, Here’s How To Create A Growth Strategy Plan For Your Business

Soko Directory is a Financial and Markets digital portal that tracks brands, listed firms on the NSE, SMEs and trend setters in the markets eco-system. Find us on Facebook: facebook.com/SokoDirectory and on Twitter: twitter.com/SokoDirectory

Trending Stories
Government and Policy Understanding The Revised NTSA Traffic Offenses And Fines: A Guide For Safer Roads Steve Biko Wafula
Government and Policy TSC Releases New Requirements For Deployment Of P1 Teachers To Junior Secondary Getrude Mathayo
Investment Rendeavour Appoints New Board Chairman And Independent Directors Soko Directory Team
Market News Kenya Airways Resumes Trading At The NSE With A Bang, Price Ups 5.7% Standard Investment Bank
Headlines Why Health Insurance Is More Than A Policy—It’s A Promise Soko Directory Team
Related Articles
Entrepreneur's Corner New Year, New Financial Goals With NCBA: Why Financial Literacy Is The Real Resolution Soko Directory Team
Entrepreneur's Corner A 7% Return Difference Between The Best And Worst Performing Pension Fund In Kenya: Why Research Is Key Steve Biko Wafula
Entrepreneur's Corner SportPesa’s Goal Rush Festive Campaign Brings Bigger Rewards And Daily Winners Soko Directory Team
Entrepreneur's Corner How Kenyans Can Power Their Economy And End Government Borrowing Steve Biko Wafula
Entrepreneur's Corner Maximizing Dividends: How Investing 1M KES in Equal Ksh 100K Investments Perform Across Top NSE Stocks Steve Biko Wafula
Explore Soko Directory
Banking Blogging Commodity Watch Did you know Entertainment Entrepreneur's Corner Feature Government and Policy Headlines Investment Lifestyle Market News Money Opinion Press Releases Stock Watch Technology
Soko Directory Archives