Author: Founder Africa
Years ago, Jessica Boonstra moved from the Netherlands to South Africa with her family, seeking adventure in Cape Town. With a background in online business, she aimed to make waves in South Africa’s e-commerce scene. Jessica noticed a gap in the market – while cities enjoyed doorstep deliveries, townships were left behind. And thus, Yebo Fresh was born, a special grocery store catering exclusively to township communities in the Western Cape. Yebo Fresh emerged as a beacon of innovation, addressing the unique needs of township communities wit its fresh grocery delivery service. Founded in 2018, the startup swiftly…
Powerhive is a technology venture founded in 2011 developing innovative energy solutions for emerging markets, enabling energy access and productive use for thousands of off-grid households and businesses. Now, leveraging over a decade of leadership in the mini-grid industry, Powerhive has pioneered and proven electric mobility solutions for all of Africa. Powerhive is headquartered in Nairobi, Kenya. Product Offerings: Powerhive’s proprietary technology platform enables the financing, monetization, and management of off-grid utility solutions. Their cloud-based software and smart metering automate account management tasks, monitor microgrid operations, and enable customers to prepay for electricity through mobile money networks. In…
South Africa – 22 February 2024 Hohm Energy, the South African Climate Fintech company that helps homeowners and businesses to go solar with accredited solar installers, product suppliers, and embedded solar finance, has today announced the successful final close of its $8m Seed round. The funding marks the largest seed round for a tech startup in South Africa totalling $8m, which was led by E3 Capital and 4DX Ventures and attracted participation from new investors, including Breega, E4E Africa, TO.org, Tekton Ventures, Sunu Capital, Musha Ventures, and Climate Capital Ventures. Hohm Energy will now accelerate the adoption of rooftop solar in the region by investing in its new cutting-edge climate fintech strategy, additionally bolstering…
In South Africa’s automotive industry, one company has revolutionized how people access and experience car ownership. Planet42, a car subscription company founded with the vision of making mobility accessible to all, has embarked on a remarkable journey. Planet42 is a mobility startup that offers rent-to-buy car subscriptions. Founded in 2017 by Eerik Oja and Marten Orgna in Estonia and with operations in South Africa and Mexico, Planet42 is fighting transport inequality by putting cars in the hands of people unfairly ignored by banks. By combining a proprietary scoring engine with a robust car dealership partner network, Planet42 has been…
The Path to Investment Readiness Securing investment is a pivotal step for startups, and being investment-ready is the key to success. This article delves into the essentials of investment readiness, guided by Tomi Davies’s insights. The Trio of Essential Documents Pitch Deck A concise presentation offering an overview of the business. Essential for making a positive first impression on investors. Business Plan A detailed document reflecting startup objectives and strategies. Living documents evolving with research and discussions. Data Room An online storage facility for secure sharing of critical information. Crafting a Plausible Business Plan…
In this article, we explore the essence of milestones, focusing on the ‘M’ in the POEM framework. Developed by Tomi Davies, the framework offers strategic guidance for techpreneurs, investors, and innovation hubs. The Essence of Milestones Milestones symbolize the journey toward realizing a startup’s vision. Investors and innovation hubs actively seek to be part of this journey, providing crucial support in various forms. Navigating Startup Stages The startup journey unfolds through distinct stages, each demanding specific attention and resources: Stage 1: Pre-Seed/Incubation Idea conception, relying on personal funds and support from friends and family. Goal: Creating a…
In 2019, a Kenyan startup emerged on the scene with a visionary mission: to revolutionize primary healthcare in Africa. Ilara Health, founded in Nairobi, embarked on a journey to bridge the healthcare accessibility gap and ensure quality healthcare services were within reach for all. The company aims to improve the state of primary care in Africa by building a network of health clinics that provide a range of healthcare services for an affordable price, making healthcare more accessible. The Early Days Ilara Health was born out of a shared vision by its co-founders, Amaan Banwait, Emilian Popa, Hannes…
In this review, we’ll delve into a segment from the Investment Worthy Startup book that dissects the economic aspect of startups using the POEM Framework. This framework is an acronym that stands for the Proposition, Organization, Economics, and Milestones. Let’s uncover the valuable takeaways from the Economics section. Capital Sources The Economics segment of the POEM Framework begins by emphasizing the critical role of capital. It emphasizes the importance of both human and financial capital in a startup’s journey. Founders often invest their human capital, accompanied by initial financial support from family, friends, or “Fools” (FFF). Additionally, grants and prizes…
Founded by Elizabeth Rossiello, AZA Finance is a global fintech company that is accelerating economic growth in Africa through its best-in-class foreign exchange, payments, settlement, and treasury services. AZA Group was founded in Nairobi, Kenya, in 2013. A true visionary, Rossiello saw first-hand how African businesses and currencies were consistently undervalued and underserved by the “developed world,” in part due to pervasive Western stereotypes about the continent. She realized that Africa’s embrace of financial technologies like mobile money posed an invaluable opportunity to change the narrative. The right company could bridge the financial services gap between G20 and African countries,…
The “Organization” component in the POEM Framework, as outlined by Tomi Davies, is an essential guide for startup founders looking to establish a strong foundation for their ventures. The Section addresses key factors that contribute to a startup’s success and attractiveness to investors. This review highlights some of its key points in simple terms for startup founders. Legal Structure: TD emphasizes the importance of choosing the right legal structure for your startup. While there are various options, the most effective one in many cases is a limited liability company (LLC). This structure offers legal protection and flexibility. Ensure…
