- 50 African startups have been enlisted by Google to benefit from its black founders fund, in a bid to bridge the financing gap on the continent
- Nine African countries, Nigeria, Rwanda, South Africa, Kenya, Ghana, Cameroon, Zambia, Senegal anď Ethiopia made the startup list
- Nigeria accounted for more than half of the startups, while Kenya and South Africa also had more than a handful, compared to other listed countries
Google has announced 50 African startups that will benefit from its N1.23 billion ($3 million) black founders' fund. The search engine giant selected startups from nine African countries.
Startups in Nigeria, Rwanda, South Africa, Kenya, Ghana, Cameroon, Zambia, Senegal anď Ethiopia were listed in a statement posted on Google for Startups Campus blog on Wednesday.
In the statement, Google said:
"Through the Google for Startups Black Founders Fund in Africa, we are supporting early-stage Black-founded startups on the continent."
PAY ATTENTION: Join Legit.ng Telegram channel! Never miss important updates!
Nigeria accounted for 26 startups out of 50, the highest number when compared to Kenya where nine startups were selected, seven in South Africa, Ghana had two, Rwanda two, while Senegal, Cameroon, and Ethiopia had one each.
Nigerian startups listed in the Google 50 startups African startup funds
The Nigerian startups selected by Google were drawn from various markets, ranging from financial technology, car-hailing, healthcare, and commerce.
Babymigo, Bumpa, Credpal, Curacel, Chekkit, Crop2Cash, Emergency Response Africa, Formplus, GeroCare, Gradely, Gricd, Hitch, Lifestores Healthcare, mDoc Healthcare were selected to benefit from the black founders' fund.
Other Nigerian startups on the list includes; Medsaf, My-Medicine, PickMeUp, Reach, Send, Shecluded, Shopa, Tix Africa, Tap (Touch and Pay), TradeBuza, Treepz and Whispa Health.
What is Google offering African startups?
Aside from the $3 million fund, Nigerian startups, alongside their counterparts across the eight African countries, will receive Google Ad Grants and Cloud credits.
Google will also provide the startups with experienced experts from its corporation as the internet firm moves to bridge what it termed;
"existing fundraising gap for Black startup founders in Africa’s fast-growing technology landscape."
Nigerian Entrepreneur Raises $2million for His Financial Startup, Mono
Abdul Hassan, the co-founder of Mono, raised $2 million from five investors to financially support its API startup that helps provide customer accounts information to digital businesses.
The $2 million fund was raised after the financial startup obtained $625,000 in two rounds. This means Mono has received $2.62 million between 2020 and 2021.
Mono has provided 100,000 financial accounts, while the Fintech company has analysed over 66 million.