As we begin 2025, the year holds immense promise as a turning point for groundbreaking innovation. It is poised to be a defining chapter not only for the growth and impact of startups but also for the transformative synergy between human creativity and artificial intelligence.
This harmonious fusion has the potential to unlock unprecedented possibilities, enabling us to tackle complex challenges, redefine industries, and create solutions that push the boundaries of what was once thought achievable. From healthcare to finance, education to climate action, 2025 could well be the year where the confluence of human ingenuity and AI paves the way for remarkable achievements that reshape our world.
Africa has witnessed numerous high-profile launches and staggering valuations. Yet, some startups quietly impact industries and improve lives in ways that deserve equal attention. Across Nigeria and other African nations, innovators are tackling challenges in climate, AI, fintech, and more, building solutions with commendable creativity and resilience.
In 2024, African startups secured over $2 billion in funding. While this figure marked a slight decline from the previous year, the continent made strides in global competitiveness and recognition. This progress demonstrates that Africa is no longer in a phase of merely catching up, it’s shaping the future of innovation.
Startups like Moniepoint, Flutterwave, Opay, and Moove continue to captivate us with their transformative solutions. However, 2025 promises the emergence of even more disruptive startups poised to redefine industries with fresh perspectives and unwavering determination.
Our startups to Watch in 2025 include:
1. AMAKA Studio: Empowering Creative Entrepreneurs Across Africa
AMAKA Studio is a media-tech platform dedicated to empowering Black and African creators globally. It offers resources to help creators monetize their work and connect with brands. In October 2024, AMAKA Studio raised $2 million in seed funding, led by Equitane (formerly the Africa Transformation and Industrialization Fund – ATIF), with additional support from Morgan Stanley Inclusive Ventures Lab, Silverbacks Holdings, and a group of angel investors. This funding will enable AMAKA Studio to expand its operations and continue its mission of supporting Black and African creators in the growing creator economy.
In November 2024, AMAKA Studio partnered with Sony to host the Sony Alpha Fest 2024 in Lagos, Nigeria, under the theme “Art Connects.” This event celebrated Nigerian content creators, photographers, videographers, and cinema professionals, offering them a platform to showcase their talents and connect with industry leaders.
2. Moniepoint: Transforming Financial Services in Africa
Moniepoint (formerly TeamApt) is a Nigerian fintech company that provides an all-in-one financial ecosystem for businesses and individuals, offering services like digital payments, banking, credit, and business management tools. They are particularly known as Nigeria’s largest merchant acquirer, powering a significant portion of the country’s point-of-sale (POS) transactions.
In October 2024, Moniepoint raised US$110 million in Series C equity funding. This funding round propelled them to “unicorn” status, meaning they achieved a valuation of over $1 billion.
The Series C investment was led by Development Partners International’s African Development Partners (ADP) III fund.
3. Leatherback: Simplifying Cross-Border Payments
Leatherback is a fintech company that simplifies global trade and payments for individuals and businesses. They facilitate cross-border money transfers and offer multi-currency accounts.
Leatherback raised $10 million in a seed funding round on April 6, 2022. The funding was secured from Zedcrest Capital, a pan-African principal investment firm.
In October 2024, Leatherback’s co-founder and CEO, Ibrahim Ibitade, stepped down after five years in the role. Toni Campbell, a managing partner at Kinfolk Venture Capital, was appointed as the interim CEO. This is a significant leadership change for the company.
In March 2024, Leatherback partnered with YES BANK, a Mumbai-based commercial bank, to improve remittance and Indian Rupee (INR) payouts within India. This collaboration allows Leatherback users to seamlessly send funds to individuals and businesses in India, which can then be instantly withdrawn in INR. This is a strategic move to tap into the growing trend of business and other opportunities between Africa and India.
4. Juicyway: Innovating Cross-Border Payments for Businesses.
Juicyway is a Nigerian fintech startup that focuses on facilitating fast and affordable cross-border payments for businesses in Africa. They leverage stablecoin technology to overcome challenges related to currency exchange and liquidity in African markets.
In December 2024, Juicyway announced that they had raised $3 million in pre-seed funding.
It’s interesting to note that Juicyway operated in stealth mode for about three years before publicly announcing its funding and services. During that time, they reportedly processed over 25,000 transactions, generating $1.3 billion in total payment volume (TPV) from around 4,000 users, primarily through word-of-mouth referrals. Their client base includes notable companies like Bolt, Piggyvest, and Bamboo.
5. Paymob: Driving Digital Payments Across Emerging Markets
Paymob is a leading fintech company in Egypt and the MENA region, providing a comprehensive suite of digital payment solutions for businesses of all sizes.
Provides seamless online and offline payment solutions through advanced payment gateways, POS systems, and mobile wallet technology. Supports over 50 payment methods, including cards, mobile wallets, BNPL (Buy Now Pay Later), and QR code payments.
6. Cartona: Revolutionizing B2B e-commerce in Africa
Cartona is a B2B e-commerce platform transforming the FMCG supply chain in Africa. Established in 2020, the company connects retailers with suppliers, offering competitive pricing and efficient logistics.
In 2024, Cartona expanded into new African markets, supporting over 20,000 businesses with its platform. With plans to integrate AI-driven inventory management tools in 2025, Cartona is poised to revolutionize the retail sector.
Cartona has successfully raised funding to support its growth and expansion. In July 2024, they secured $8.1 million in an extended Series A funding round. This round was led by Algebra Ventures, a prominent Egyptian tech venture capital firm. Existing investors like Silicon Badia and the SANAD Fund for MSME also participated. This $8.1 million was an extension of a previous Series A round of $12 million that they raised in 2022. This brings their total Series A funding to $20.1 million.
7. Kofa: Enhancing Clean and Portable Battery Solutions
Kofa is a Ghanaian company focused on revolutionizing energy access through clean and portable battery solutions. They aim to create an affordable and sustainable electricity network powered by renewable energy, reducing reliance on fossil fuels in various sectors.
Kofa’s core offering is its “Swap & Go” network. This network consists of conveniently located swap stations where users can quickly exchange depleted batteries for fully charged ones. This model addresses the challenges of long charging times associated with electric vehicles and other battery-powered devices.
8. PaidHR: Streamlining Payroll and HR in Africa
PaidHR simplifies payroll and HR management for businesses across Africa. Founded in 2020, the startup processes billions in salaries and offers a cross-border payroll solution supporting 49 currencies.
Its innovative wallet feature allows employees to convert salaries into preferred currencies, addressing naira devaluation challenges. PaidHR is redefining HR management, making it one of the startups to watch in 2025.
9. Bujeti: Redefining Financial Management for African businesses.
Bujeti is a Nigerian fintech startup that provides a comprehensive financial management platform designed for African businesses. They focus on simplifying expense management, offering corporate banking solutions, and providing real-time financial insights.
Bujeti offers an all-in-one platform to help African businesses manage their finances more efficiently, addressing challenges like paper-based workflows, manual processes, and disconnected systems.
Bujeti targets a wide range of African businesses, from small and medium-sized enterprises (SMBs) and startups to large corporations, across various industries, including logistics, healthcare, agriculture, and construction.
10. Gigbanc: Empowering Freelancers and Gig Workers
Gigbanc is a fintech company focused on providing financial solutions for freelancers, remote workers, and creators, primarily in Africa. They aim to simplify how these individuals manage their finances in the global digital economy.
Gigbanc specifically caters to individuals who work online, often for international clients or platforms. This includes freelancers, remote workers, content creators, and other gig economy participants.
11. Tendo: Enabling More People to Start Their Own Businesses
Tendo empowers individuals in Africa to start and run online businesses without needing upfront capital or holding inventory. They act as a bridge between suppliers and resellers.
Individuals in Africa looking to start an online business or generate extra income, particularly those who lack access to capital or inventory.
In October 2024, Tendo Technologies Limited acquired Shopa, another retail-tech startup operating in Ghana. This was a strategic move to strengthen their supply chain infrastructure across Africa.
12. TerraHaptix: Leading the Robotics and Drone Transition in Africa
TerraHaptix is a Nigerian robotics startup making waves in the African tech scene. TerraHaptix has established a significant manufacturing facility in Abuja, Nigeria. This is a major achievement, as it positions them to compete globally while also contributing to local job creation and technological development within Nigeria.
They have a strong team and develop their technology in-house, covering areas like airframes, flight computers, firmware, powertrain, and flight operating systems.
TerraHaptix is an exciting example of the growing innovation and technological advancement happening across Africa. Their focus on local manufacturing and development of cutting-edge drone technology positions them as a key player in the future of robotics and automation on the continent.
13. Tix.Africa: Simplifying Ticketing in Africa
Tix Africa is a Nigerian ticketing platform that allows users to discover events, purchase tickets securely, and manage their event bookings all on one platform.
Recorded significant growth in Nigeria, exceeding ₦2 billion in ticket sales in 2023 and selling over 150,000 tickets as of July 2024. Cited a data point suggesting Nigerians value entertainment even amidst economic challenges.
Tix Africa is ambitious and aims to become a dominant player in African ticketing. They are considering owning a 10,000-capacity venue in the future to potentially integrate ticketing and event-hosting functionalities.
Tix Africa was selected to participate in the NBA Africa Accelerator program in late 2024.
14. Intron Health: Redefining Speech Recognition Technology.
Intron Health,it is a Nigerian health-tech startup that uses AI-powered speech recognition technology. Intron Health develops speech-to-text transcription tools specifically designed for healthcare professionals in Africa. Their technology aims to streamline medical record-keeping and reduce the administrative burden on doctors and other healthcare workers.
A crucial aspect of their technology is its ability to accurately recognize and transcribe various African accents and languages. This addresses a major challenge in applying generic speech recognition models to the diverse linguistic landscape of Africa.
In July 2024, Intron Health raised $1.6 million in a pre-seed funding round.
15. Bunce: Optimizing Customer Engagement for Businesses
Bunce is a Nigerian startup that focuses on helping businesses, particularly in the financial services and logistics sectors, improve customer engagement and drive revenue growth. They do this by leveraging customer and payment data to deliver personalized and targeted messages.
Bunce provides a data-driven customer engagement platform that uses AI to help businesses communicate more effectively with their customers.
Bunce is addressing the growing need for businesses to effectively engage with their customers in a data-driven way. By leveraging AI and focusing on personalization, they are helping businesses improve their customer relationships and drive revenue growth.
