TLDR:
- Madica, an investment program for pre-seed stage startups in Africa, has announced its first set of investments in three fintech startups, providing each with up to $200,000.
- Selected companies include Kola Market (Ghana), GoBEBA (Kenya), and NewForm Foods (South Africa), each offering innovative tech-enabled solutions to various challenges.
Madica, a structured investment program focused on pre-seed stage startups in Africa, has unveiled its first set of investments in three fintech startups. Each startup received an investment of up to $200,000 and has joined Madica’s comprehensive investment program, which offers 18 months of dedicated company-building support tailored to meet the unique needs of each startup. The program includes a personalized curriculum, hands-on mentorship, founder immersion trips, executive coaching opportunities, and access to a global network of investors for follow-on funding to drive growth and ensure long-term viability.
Affiliated with Flourish Ventures, Madica was launched in 2022 to address structural gaps in Africa’s startup ecosystem, such as limited access to capital, scarcity of investors, and insufficient mentorship. The program aims to foster innovation, entrepreneurship, and wealth creation across the continent by providing support to promising startups. The selected companies for the first investments include Kola Market from Ghana, GoBEBA from Kenya, and NewForm Foods from South Africa, each offering tech-enabled solutions within their respective verticals.
