Early in the pandemic, it was more difficult to keep track of new or active COVID-19 cases in South Africa. However, there are now…
Morocco-based business to business (B2B) venture capital fund, Outlierz Ventures has invested in three innovative African tech startups, namely; YouVerify, Bamboo, and Healthlane.
Africa-focused seed fund invests in three fast-growing tech companies in 2020
The three selected tech-enabled startups will utilise the funding received from Outlierz Venture to transform Africa’s traditional industries in various sectors including; fintech, healthtech, logistics, and supply chain.
In an official press release, Kenza Lahlou, co-founder and Managing Partner of Outlierz Ventures, comments on the most recent investment made into the selected tech startups and how Covid-19 influenced their decision to invest.
“We are delighted to announce our new investments in three African technology companies and are very proud of the outstanding results of our portfolio. The African market represents a huge opportunity to build innovative tech-enabled platforms that transform traditional business models across key sectors of the economy. The crisis we are currently experiencing is accelerating this digital transformation. This has been demonstrated by the recent acquisition of Paystack, a Nigerian fintech in payments, by the US leader, Stripe valued at $34-billion, for over $200-million last October. This is a major event in the African tech ecosystem that, we are confident will catalyze others.”
Founded in 2019, Outlierz Ventures is made up of a conglomerate of entrepreneurs and investment experts. The aim of the VC fund is to assist early-stage startups that are contributing to Africa’s essential industries in finance, health, and supply chain.
The VC fund invests in startups located in Morocco, Egypt, Nigeria, and Kenya which are reportedly Africa’s most dynamic ecosystems.
Since its inception, Outlierz Ventures have invested in a total of eight startup companies across Africa.
Focusing on fintech and healthtech
Covid-19 has created opportunities for Outlierz Ventures to invest in three companies.
YouVerify, a Nigeria-based startup, has created a unique technology that automates and digitises the KYC (Know-Your-Customer) check process. This allows banks and telecom operators to digitally verify the identity of their customers and provide them with remote services.
Nigeria-based tech startup, Bamboo, provides a service that enables Nigerians the opportunity to invest in the US stock market via a mobile app that is directly connected to their Nigerian bank account. Users are also capable of accessing capital markets and evening out investment.
Healthlane, a healthtech startup located and operational in Cameroon and Nigeria provides a premium healthcare service in public hospitals. The company not only offers digital services but provides online appointment booking, telemedicine, and access to laboratory test results via a mobile app. This assists public hospitals with capacity and efficiency-related issues.
Featured image: Kenza Lahlou, co-founder and Managing Partner of Outlierz Ventures (Supplied)