Partech Africa Fund has completed eight transactions, six new deals and two follow-on investments in 2019
The fund has deployed according to target mostly on Series A and B, half of these tickets ranging between US$3mn and US$7mn.
In total, the fund has welcomed six new outstanding teams into the growing Partech Africa branch of the larger Partech Family. Nine portfolio companies work from six countries in Africa and together have an extremely large impact in their spaces, with more than one hundred thousand merchants being served, US$4bn of financial transactions per year and more than 20 million end-users.
Kudi announced in April 2019 a US$5mn round led by Partech. This leader in digital payments and collection for the cash economy in Nigeria has maintained a brisk pace: in less than a year, Kudi has grown its network and revenues by five times while maintaining high capital efficiency.
Yoco is the leading South African fintech that builds tools and services to help entrepreneurs start, run and grow their businesses. In September, the company launched the Yoco Go, the most affordable card machine the market has ever seen. Since then, Yoco has been adding new merchants at an unprecedented rate, now servicing more than 64,000 merchants across South Africa and well on track to double their merchant base this year.
In Nigeria, TradeDepot, a mobile B2B trade platform that connects retailers in emerging markets directly to FMCG brands for ordering and delivery, has reached c. 30k active retailers in Nigeria alone with a GMV and revenue growth over 4x on a yearly basis.
“These companies have validated our investment strategy: outstanding team, with the validated model, addressing fundamental economic opportunities that will build the next African champions,” said Tidjane Dème, general partner at Partech Africa.
