What if you were the next one to raise $100 million with your start-up?

Hello Founders,

Big moves in the ecosystem.

It’s a week of fundraising and strategic deals: record amounts, unexpected acquisitions and strong signals for those building on the continent.

But beyond the figures, we’ll be talking mainly about strategy, viability and timing – those little details that make the difference between a startup that shines and one that lasts.

Let’s start with the latest news.

Latest News:

• Moniepoint raises $90 million to accelerate its expansion, with support from Visa, Leapfrog, DPI and the Google Africa Investment Fund. Already a payment giant in Africa, the start-up processes more than $250 billion in transactions per year, mainly in Nigeria. This new funding will be used to strengthen its local presence and expand into Kenya and the United Kingdom.
• ANKA platform has just been acquired by New York-based Global Shop. The Ivorian e-commerce start-up is known for enabling thousands of African designers to sell and deliver internationally. Founded in 2016, ANKA had raised more than $13 million and processed more than $60 million in transactions. Under the leadership of Matilda Ceesay, the new CEO, the platform is retaining its team and infrastructure in Africa.
• Spiro has just raised $100 million, a record for the electric motorcycle sector in Africa. The investment, led by the Fund for Export Development in Africa (FEDA), will enable it to expand its network of battery exchange stations and deploy more than 100,000 vehicles by the end of 2025. The start-up already has a presence in Kenya, Nigeria, Benin and Togo.
  

Insights:

Case Studies

Quizac: The start-up that confused traction with a sustainable model

Quizac, a Nigerian edtech company, wanted to make learning fun for African children. With its gamification approach, the start-up quickly attracted more than 12,000 learners and established itself as a promising player in the digital education sector.

Despite its rapid growth, Quizac never found a way to effectively monetise its student audience. Attempts to generate revenue were hampered by the reality of a market with limited purchasing power.

When offered £250,000 in funding, the founders turned down the offer, which they considered unfavourable, thinking they could come back with better terms. The timing proved fatal, as the global economic situation froze investment, cutting off their room for manoeuvre.

The start-up attempted a pivot towards B2B, but it was too late. It was eventually bought out by Tekedia Capital.

For founders: A good product without a profitable model remains vulnerable. Traction is worthless without a clear conversion strategy.

PMF insight

You can’t run a business with last year’s roadmap. Retention data is very useful, but by the time it appears, the ship may already be sinking.

A leading indicator is your early warning system for customer churn. It tells you within a few weeks whether a customer is likely to stay, allowing you to take action before it’s too late.

Analysis:

● Without it, you’re flying blind.

● With it, you can focus your team on the actions that matter most.

● It’s not a guess, it’s a measurable and repeatable event.

Example:

At Swan, our leading indicator is the first qualified lead within 14 days. If that happens, retention skyrockets.

If not, it’s a red flag.

Opportunities:

Goodwell seeks impact entrepreneurs

Goodwell, the investment fund committed to a more inclusive economy, finances entrepreneurs who tackle real everyday challenges in their communities. If your project creates local, social or environmental value, simply fill out the application form.

Aurora Open Call 2026

inDrive is launching Aurora Open Call 2026, a global competition dedicated to female founders of tech start-ups. The prize: £100,000 to be shared between the three winners, direct access to investors and international media visibility.

Apply here before the deadline: 12 November 2025.

Future Studio Pre-Entrepreneurship Bootcamp

The Pre-Entrepreneurship Bootcamp is back for a second edition dedicated to those who want to turn their ideas into action.

The programme includes personalised mentoring, meetings with a community of passionate entrepreneurs, and a structured pathway to lay the foundations for your future project.

Places are limited. If your idea deserves to see the light of day, now is the time to register.

IDERA call for projects

The IDERA initiative, led by CDC Benin, is launching a call for projects to support women-led businesses. The aim is to finance and support projects with a strong economic and social impact in industry, agribusiness, services or innovation. Projects must be based in Benin, already structured and demonstrate their viability. Take advantage of this opportunity before 28 November 2025.

Best Young Manager: bringing out the future leaders of Benin

Best Young Manager (BYM) seeks to reveal a new generation of Beninese entrepreneurs who are ambitious, creative and rooted in their territory. The competition recognises young women and men who are leading or managing innovative projects in the country’s 12 departments, with a real desire to promote female leadership.

The call for applications is open to all entrepreneurs based in Benin.

Applications must be submitted online using this official form.

Events:

Social Innovators Programme & Awards 2025

LEAP Africa is launching the 2025 edition of the Social Innovators Programme & Awards, with the theme ‘Africa as a key sector: optimising opportunities through technology, finance and policy’.

The event will take place on 25 November 2025, at the Four Points by Sheraton, Lagos, from 9am to 4pm.

This is a must-attend event for young innovators who are rethinking social impact on the continent.

Learning Resources:

Need a little entrepreneurial energy this weekend? Three inspiring podcast episodes to listen to if you are a founder or aspiring founder.

1. Founder Who Lost $3.9m Reveals the Hard Truth About Money And Freedom - YouTube
2. Vusi Thembekwayo: The Truth About Money, His Traumas, and Building Africa’s Future - YouTube
3. From 2 friends to €30M in turnover – with Hugo Geissmann (Thiga)

Before leaving, Pixel Mart sets its sights on the global stage

After winning the local Founders Live competition, Pixel Mart will now represent the region in the global Prime Time competition this autumn.

The team needs your support to take this next step: a 99-second video that will be put to a public vote.

Every vote counts, and it’s a concrete way to help a local start-up shine on the international stage.

The link to vote: https://primetime.founderslive.com/pitches/cotonou-pixel-mart

That’s all for today.

Keep building, experimenting, and above all, keep a critical eye on your own model.