Founders Factory lands R2.1-billion to fund start-ups
The pan-African company that is all about investing in transformative early-stage ventures,Founders Factory Africa has managed to secure an additional US$114-million (R2.1-billion) in funding to assist technology start-up founders across Africa. Announced on Monday, the support from the Mastercard Foundation and Johnson & Johnson Impact Ventures comes after previous investments by Standard Bank, Small Foundation
Founders-Factory-lands-R2.1-billion-to-fund-start-ups
The pan-African company that is all about investing in transformative early-stage ventures,Founders Factory Africa has managed to secure an additional US$114-million (R2.1-billion) in funding to assist technology start-up founders across Africa.
Announced on Monday, the support from the Mastercard Foundation and Johnson & Johnson Impact Ventures comes after previous investments by Standard Bank, Small Foundation and Netcare.
What the support means is that the investor will be able to scale its model and serve tech-led start-ups and founders across the African continent.
Founders Factory Africa was founded in 2018 and since then, has helped develop about 55 tech start-ups. CEO Bongani Sithole said moving Africa forward requires more of us to support tech-driven, solutions-orientated ventures that have the potential to scale and make an impact at speed.
“Our role is to provide founders with the funding, knowledge and hands-on venture-building support they need to achieve commercial success and create outsized, systematic impact.” – Sithole added.
