Unlocking Africa's fintech potential with Founders Factory Africa (FFA)


Join the fintech revolution in Africa

Now is the time to secure fintech startup funding in Africa. The continent is only reaching the end of the beginning of its fintech journey. This presents unparalleled growth opportunities for ambitious entrepreneurs like you.

In 2022, while global fintech investments saw a 46% year-on-year decline, fintech funding in Africa surged by 39.5%, amassing a notable $1.5b.

The average deal size for 2022 stood at $7m, with 205 African fintech startups securing funding. By comparison, 184 fintech companies received funding in 2021, totaling $5.6m.

As FFA, we work with among the continent’s most innovative fintech startups to help them navigate the journey from concept to venture. We see a future where you redefine finance in Africa and globally.

The fintech landscape in Africa

Africa's fintech sector is open for business, with much ground to cover. In many African nations, 90% of transactions are still cash-based, signalling a vast untapped market.

Data from McKinsey indicates a potential surge in Africa's financial-services market, with revenues likely reaching $230b by 2025.

With nimble fintech players embracing digital transformation, this expanding market presents a fertile ground for innovation and disruption.

Fueling growth and transformation

Fintech companies in Africa are riding the wave of technological advancements and socio-economic changes. The rise in smartphone usage, more affordable internet, broader network reach, and a youthful, expanding urban population drive fintech adoption.

The COVID-19 pandemic further accelerated digitalisation trends. This has created a paradigm shift in consumer behaviour, presenting fintech startups with unique opportunities to meet evolving demands.

Challenges and opportunities for fintech startups

While the fintech ecosystem in Africa is vibrant and full of promise, only a handful of unicorns have emerged. Profitability remains uncertain for many ventures. Fintech startups face several challenges on their road to sustainability, including:

1. Reaching scale and profitability

African startups face a tight race to rise above the competition. Scaling isn't just about growing in numbers but also about ensuring consistent service quality, diversifying product or service offerings, and retaining customers.

Startups must be agile, adapt to market feedback, and continually refine their business models to ensure long-term profitability.

2. Navigating an uncertain regulatory environment

Fintech innovation often moves at a pace that traditional regulatory frameworks struggle to keep up with. This mismatch can create uncertainties for startups, as they may operate in a legal grey area.

The dynamic nature of regulatory environments across Africa further complicates this, necessitating startups to be vigilant and proactive.

Staying up-to-date on policy changes and being prepared for regulatory shifts are key strategies for success.

3. Managing scarcity

Resources, including talent, technology, or funding, are finite for many early-stage fintech startups. Efficiently allocating these resources can be daunting when faced with the pressure to grow and capture market share.

Building solid networks with potential investors, tapping into mentorship and partnership opportunities, and leveraging bootstrapping strategies can aid in navigating these constraints.

4. Building robust corporate governance

In the finance domain, trust is paramount. In their quest for rapid growth, fintech startups must not overlook the significance of sound corporate governance.

Establishing transparent processes, upholding ethical standards, and ensuring compliance are non-negotiable foundations for building investor trust and attracting funding.

FFA: Empowering fintech innovators

FFA understands the challenges faced by fintech companies and is dedicated to serving as the catalyst for your success. We offer more than funding for fintech startups - we equip you with the know-how and mentorship needed to scale your venture and lay the foundation for future success.

Our team of industry experts and mentors will work closely with you to navigate challenges, seize opportunities, and drive innovation.

What our customers say

Hear from the entrepreneurs and startups who have partnered with FFA and experienced the transformative impact of our support. Their success stories demonstrate the power of collaboration and innovation in the African fintech space.

"The entire FFA team were very supportive. They listened to our needs and advised/offered support based on those needs which allowed us to launch our flagship product."

- Zazuu

Why choose FFA

Need more evidence why FFA is the answer for your fintech startup dreams? Here are a few:

Access to capital for business growth

Securing adequate funding is critical for the growth and success of fintech startups. At FFA, we are committed to providing the financial resources necessary to fuel your venture's expansion.

Whether you have a disruptive idea or a pioneering prototype, we invest in promising early-stage fintech startups across the continent, including Egypt, South Africa, Nigeria, and Kenya. With FFA's support, you can unlock the full potential of your innovative solutions and create a significant market impact.

Apply now for funding  →

Mentorship and guidance from experienced professionals

Embark on your fintech journey with confidence, knowing that a diverse team of industry leaders is there to back you.

At FFA, we bring together world-class thinkers, makers, and entrepreneurs, each with a wealth of knowledge and years of experience nurturing startups across Africa and South Asia. Our sector specialists are committed to collaborating with you. We'll provide personalised mentorship and help you navigate the intricacies of building a successful fintech enterprise.

Whether it's software engineering or growth marketing, investment network hacking or partnerships, UX/UI design, or business development, our experts will help you grow.

Explore expert mentorship  →

Collaboration with leading pan-African corporations

FFA is proud to have forged exclusive partnerships with prominent Pan-African corporations, including Standard Bank Group, and leading international foundations such as the Mastercard Foundation and Johnson & Johnson Impact Ventures.

We work closely with our corporate investors and partners to help your startup overcome scaling challenges. You will gain a competitive edge for your business by leveraging their extensive networks and assets.

The expertise, data, market insights, relationships, credibility, and capital our corporate partners provide become your superpowers on the path to success.

Discover our partnerships  →

FFA fintech portfolio companies

Learn more about the fintech startups FFA has backed. These groundbreaking startups are driving change, setting new standards in African finance, and delivering real-world solutions to users across the continent. Become a part of our portfolio of 50+ startups today.

Floatpays, LipaLater, MVX, Renda, Revix, Schoolable, and Truzo.

Join FFA today

Are you committed to reimagining fintech in Africa? Get funding or explore partnership opportunities with FFA today. Join hands with us, and let's pave the way for a thriving fintech future for Africa.


Is this program for me?

If the following criteria resonate with you, then our program is tailor-made to suit your needs:

  • I am an ambitious founder with an early-stage fintech venture, be it a disruptive idea, innovative prototype, or recent launch.
  • My fintech solution has the potential to revolutionise the industry and scale significantly.
  • I seek funding and hands-on support from experienced professionals.
  • My vision aligns with FFA's mission of making a positive impact through fintech solutions.
  • I am committed to driving socio-economic progress and financial inclusion.
Your journey to fintech success starts here  →