Madica has announced five new investments in African startups. With these investments, it has announced the expansion of its portfolio into Algeria and Cameroon for the first time.
The new investments span four markets and sectors including human resources technology, fintech, semiconductors and the circular economy. Each startup will receive up to $200,000 in funding and join Madica’s 18-month investment programme.
The latest cohort includes:
- Talenteo (Algeria): Talenteo was founded by Louai Djaffer and provides an HR management platform to help businesses across Francophone Africa digitise and streamline human resources operations.
- Paysika (Cameroon): Co-founded by Roger Nengwe and Stezen Bisselou, Paysika is a digital neobank offering virtual and physical payment cards to consumers and SMEs across Central Africa.
- ChipMango (Nigeria): ChipMango was Co-founded by Ola Fadiran and Jovan Andjelich. It is developing semiconductor capabilities in Africa through chip design services, engineering education and Edge AI products.
- Delta Oil (Egypt): co-founded by Serag Moussa, is building infrastructure that connects fragmented used cooking oil (UCO) collection networks with international buyers, transforming an underutilized waste stream into a valuable feedstock for renewable fuels.
- Bekia (Egypt): Founded by Alaa Afifi, Bekia is building a digital recycling platform that pays households and businesses for recyclable waste and connects collected materials with industrial buyers.
“At Madica, we’ve always believed that exceptional founders can be found in every corner of Africa, yet access to early-stage capital remains heavily concentrated in a handful of ecosystems,” said Emmanuel Adegboye, Head of Madica.
Adegboye said the new investments demonstrate the firm’s commitment to identifying founders in markets that have historically received less attention from venture capital investors.
Beyond funding, the startups will receive hands-on mentorship, executive coaching, fully funded founder immersion trips and access to Madica’s global investor network during the 18-month programme.
“We’re building the financial infrastructure allowing banking services that are more accessible, practical and inclusive for consumers and businesses across Central Africa,” said Roger Nengwe, Co-Founder and CEO of Paysika.
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Also Read: Madica Launches “Zero to Funded” Guide to Help African Founders Navigate Pre-Seed Fundraising