The Africa platform for startup funding, Venture Capital for Africa (VC4A) has selected the 12 startups that would be participating in its 2019 Series-A Venture Showcase.
This was announced by VC4A in a statement. Among the 12 selected, 11 have completed Series-A raises and one has received seed funding.
The founders of the 12 companies would showcase their businesses in front of investors at the Africa Early Stage Investor Summit (AESIS) which will be held in Cape Town on 13 and 14 November with the aim of raising between $250 000 and $5 million in Series-A capital.
About the startups: The startups, which are from 4 African countries – Nigeria, Egypt, South Africa and Algeria are:
- Brimore (Egypt);
- Buseet (Egypt);
- CredPal (Nigeria)
- Crowdforce (Nigeria);
- FinChatBot (SA);
- FlexClub (SA);
- LifeBank (Nigeria);
- Mobiz (SA);
- SnapnSave (SA);
- Yassir (Algeria);
- VRapeutic (Egypt); and
How the startups were selected: According to the statement, the 12 were selected by 40 venture capitalists as well as multiple angel groups, through a rigorous referral and selection process as they were sought after to represent the best investment opportunities on the continent.
Why this matters: This initiative by the Venture Capital for Africa will help the startups develop as they will get the chance to network with their mentors, peers, and partners, before delivering their pitches on the summit. The initiative will put the participants on the limelight for possible funding and investments in millions of dollars by corporates, investors and tech professionals.
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What you should know: Venture Capital for Africa is a fast-growing community of business professionals in 159 countries dedicated to building game-changing companies on the continent. Founded in 2007, the platform, which is headquartered at the Netherlands, is aimed at connecting startup entrepreneurs with the knowledge, support programmes, mentors and investors they require to succeed in their various fields.