TLDR:
Key Points:
- Norrsken22 invests $205 million in Africa’s fintech sector
- The fund targets expansion in digital payments and neobanks, focusing on Francophone West Africa
Norrsken22 has invested $205 million in Africa’s growing fintech sector, with a focus on digital payments and neobanks, especially in Francophone West Africa. Despite a dip in investments in 2023, the fund is optimistic about a rebound beyond pre-2020 levels. Lexi Novitske, a key figure in the fund, expects more thorough due diligence and operational involvement from investors to ensure sustainable investment strategies. Founded in 2022, Norrsken22 aims to expand its portfolio to 20 firms by 2025, with investments spanning across South Africa, Nigeria, Kenya, and Egypt, anticipating regulatory changes to spur digital adoption.
