The companies, which are Bani, MasteryHive AI, Regxta and Termii, were picked from nearly 2,600 applications, joining 11 other African startups to form a final cohort of 15 startups drawn from across Africa.

Their selection gives Nigeria the largest share of startups in the new cohort and underlines the country’s strong presence in Africa’s dynamic technology sector.

Each of the four companies is building products to solve financial and business challenges.

1. Bani provides cross-border payments infrastructure for African businesses trading internationally. The company aims to reduce delays in settlements between markets.

2. MasteryHive AI focuses on automating transaction reconciliation, fraud checks and anti-money laundering monitoring for financial institutions.

3. Regxta uses alternative data to score credit applicants and combines this with a digital agent network to offer services to small businesses that often struggle to access finance.

4. Termii builds communications systems used by banks and fintech firms for alerts, login codes and payment notifications.

Other startups in Google Accelerator Africa cohort 10, spanning fintech, agritech, health tech, mobility and software services, with artificial intelligence being the core of most of their products, include Anda Africa, Coamana, Duck, Emaisha Pay, Loop, Maad, Meditect, ReportsAI, Safiri, Vambo AI and VunaPay.

Gbolade Emmanuel, CEO of Termii said: “At Termii, we’re building AI-powered infrastructure that ensures financial transactions don’t fail, from login PINs to payment OTPs and fraud alerts.

“The Google Startup Accelerator is helping us accelerate our AI roadmap and scale globally, and even in the first week, access to technical support and insights has been incredibly valuable for our next phase of growth.”

The programme began on April 13 and will run until June 19, 2026. It combines virtual and physical sessions, with founders receiving mentoring, technical training and support from industry experts.

Folarin Aiyegbusi, head of Startup Ecosystem, Africa, said: “We are absolutely thrilled to welcome these exceptional founders into Class 10. African startups are driving essential economic growth and social development.

“Our role is to serve as a supportive partner, providing these developers and founders with the technical infrastructure, mentorship, and global network they need to scale their solutions and amplify their real-world impact.”

Google said the accelerator, launched in 2018, has now supported 106 startups from 17 African countries. Those companies have raised more than $263 million and created over 2,800 jobs.

The African startup sector also showed resilience last year, attracting $3.9 billion in funding as founders continued to build businesses in finance, agriculture, healthcare, transport and software services.

The post Meet the Four Nigerian Startups in Google for Startups Accelerator Africa Cohort 10 appeared first on Tech | Business | Economy.

These companies emerged as continental innovators, with Nigeria holding 28 spots on the list, the second-highest after South Africa’s 51.

Compiled in collaboration with Statista, the ranking assesses companies based on compound annual growth rates (CAGR) between 2020 and 2023. 

The list offers a look at private and emerging companies that are not usually in the public eye but are impacting African business dynamics.

Top of the List: Nigerian Startups Surge Ahead

Omniretail, a B2B e-commerce and embedded finance platform, led the entire ranking with an astounding compound annual growth rate of 795.9% and absolute growth of 71,818.4%. In just three years, its revenue grew from $0.28 million in 2020 to $120.15 million in 2023. 

Headquartered in Nigeria and operating in Ghana and Côte d’Ivoire, the company has become a huge innovator in bridging the gap between manufacturers and informal retailers.

Second on the list of Africa’s fastest-growing companies is PalmPay, a digital wallet and payments platform that posted 583.6% CAGR, growing from $0.2 million in 2020 to $63.9 million in 2023. Its employee count also soared from 87 to over 1,000 during the same period, showing both financial and operational scale.

In third place was Remedial Health, a Nigerian Pharmaceuticals & Cosmetics company that recorded 339.1% CAGR. The company’s revenue grew from $0.19 million to $16.3 million, with employees growing from 6 in 2020 to 300 in 2023.

Moniepoint, another Nigerian fintech firm, made the list, growing its revenue from $15 million in 2020 to $264.51 million in 2023, a 1,663.4% increase. The company now employs 1686 people, up from just 216 three years ago.

Nigeria and South Africa Dominate the List

Together, Nigeria and South Africa accounted for 79 of the 130 companies listed. While this shows the depth of entrepreneurship in the continent’s two largest economies, it also stresses how difficult it remains for startups from smaller African nations to scale regionally.

Stéphane Bacquaert, managing partner at Adenia, a private equity firm focused on Africa, noted that Africa’s fragmentation makes it difficult to operate across borders. “You deal with different currencies, different legal environments, and, despite the political efforts to try to integrate the regions, the reality is that you don’t operate the same way in Côte d’Ivoire as in Senegal,” he said. “Those are two very different markets, as are Kenya and Tanzania.”

Of the Nigerian companies that made the list, only PalmPay operates in more than three countries. Omniretail, despite its scale, is active in just two additional countries. The ranking reiterates this reality, a few markets offer the scale needed to succeed, and Nigeria tops that list.

Unsurprisingly, fintech companies took the lion’s share in the ranking, making up nearly 20% of all firms. This has been the order of the day within the African tech funding space for a while now.

British International Investment CEO Leslie Maasdorp explained, just four countries including Nigeria, Egypt, Kenya, and South Africa, accounted for 90% of all fintech funding on the continent in 2024.

However, even with issues like currency depreciation and rising global interest rates, Nigeria’s fintech sector is not giving in. Norfund’s Executive Vice President, Ylva Lindberg, commented, “The entrepreneurial spirit in Nigeria in particular is formidable; there’s a sense that anything is possible.”

Investment Still Fragile

Some high-profile African startups, including those previously ranked, have collapsed. Gro Intelligence, once a leading agritech and analytics firm, went bust in 2023. Even Jumia, long dubbed “Africa’s Amazon,” has scaled back operations, its share price reflecting the downturn.

Greg Schwebig, founder and CEO of Africaworks, ranked fifth, said global monetary tightening has hurt African startups. “The whole start-up funding boom happened when there was excess liquidity in the developed world and cash moved to the developing world, including Africa. Now if you can get a T-bill at 5 per cent, people think, why would I invest in Africa?”

For some, the solution can be found in resilience and localisation. Africaworks uses an asset-light model and avoids overdependence on external capital. 

Meanwhile, companies like Omniretail are directly addressing systemic challenges. “Many microenterprises don’t have access to finance or distribution in any meaningful way,” said Lindberg. 

She shared the story of a Nigerian woman who arrived at Omniretail with only a driving licence and is now CEO of her own small fleet-based business.

While the macroeconomic environment is tough, marked by inflation, debt burdens, and fluctuating currencies, the success stories on the FT-Statista list show that African companies, particularly in Nigeria, are still finding ways to thrive. 

The growth numbers speak volumes, but behind them are countless small enterprises, job opportunities, and innovations pushing the continent forward.

The full Financial Times ranking of Africa’s Fastest-Growing Companies will be officially published on June 5, 2025.

The post Omniretail, PalmPay, Moniepoint Top FT’s List of Africa’s Fastest-Growing Companies appeared first on Tech | Business | Economy.

The partnership aims to fortify the commitment to the African business landscape by officially launching the Termii mobile platform “TermiiGo” and introducing the Truecaller Verified Business solution within the mobile platform.

TermiiGo was designed specifically for African businesses and offers a comprehensive suite of features that enables African businesses to streamline their operations, enhance connectivity, and provide an unparalleled customer experience. 

It offers businesses multi-factor authentication capabilities, eSIMs, rich messaging options, an inbox feature for seamless customer support, and Truecaller ID solution embedded to brand local business calls and bypass spam blocks. 

“We are thrilled to introduce TermiiGo to the African business community,” said Ayomide Awe, Co-founder & CTO at Termii. Our comprehensive suite of features, combined with the Truecaller Verified Business solution, empowers businesses to overcome communication challenges, foster trust, and unlock new opportunities for growth.” The latest version of TermiiGo is available for download on both App Store and Google Play store.

By combining the expertise of Termii and Truecaller, the two platforms aim to overcome the hurdle of establishing trust over phone calls and messages in Africa and providing secure and reliable communication channels for businesses across Africa. The aim is to address concerns surrounding unfamiliar sources and the rise of spammers and scammers leading to a growing number of unanswered calls and unread messages.  

The introduction of the Truecaller Verified Business solution on TermiiGo will empower “genuine” businesses to connect with their customers confidently. It will feature a non-editable Brand Name and Logo, along with a Verified Business Badge, creating a safer and more secure communication environment. This transformative engagement seeks to bolster trust, enhance brand recognition, improve response rates, and ultimately drive customer satisfaction.

“We are excited about our partnership with Truecaller and the value it brings to African businesses,”

said Gbolade Emmanuel, CEO and Co-founder at Termii.

“The Truecaller Verified Business solution aligns perfectly with our commitment to providing innovative communication solutions to our customers across Africa. Together, we aim to revolutionize business communication and foster trust between organizations and their customers.”

Priyam Bose, Global Head of GTM at Truecaller for Business, shared the same enthusiasm about the partnership with Termii.

“We’re thrilled to work closely with Termii, a high-growth player in the CPaaS landscape, to enhance the business communication experience in our African markets. At Truecaller for Business, we strive to instill trust and ensure secure, contextual interactions for users dealing with legitimate businesses. This synergy with Termii, whose strong market standing in Africa, will enable us to provide immense value to the communication lifecycle for the business and user community across the continent.”

The post Termii partners with Truecaller to Revolutionize Business Communication Across Mobile Channels in Africa appeared first on Tech | Business | Economy.

The round was led by Ventures Platform, with participation from prominent investors, including FinTech Collective, Launch Africa Ventures, Nama Ventures, Aidi Ventures, Ralicap Ventures, Now Venture Partners, Vastly Valuable Ventures, NOA Capital, Assembly Investors, Probability Ventures, Adamantium Fund, MyAsia VC, Uncovered Fund, Afropreneur Angel Group, and notable angel investors: Aubrey Hruby (Tofino Capital), and Eamon Jubbawy (Onifido).

Termii would also be expanding its suite of innovative solutions primarily through its mobile app solution – “TermiiGo” which is Africa’s first cross-company mobile virtual solution available in multiple African countries and Comparable to Google’s Voice and Authenticator, Twilio’s Authy, Whatsapp Business and Skype Business. 

TermiiGo, available on both google’s playstore and the apple store, includes features like direct-to-mobile notifications, rich sms messaging, time-based OTPs as well as affordable local and international calling for enterprise businesses.

“This funding is a significant milestone for Termii and a testament to the incredible work we have been doing to transform customer engagement in Africa. We are thrilled to have the support of such esteemed investors who share our vision of empowering businesses to easily engage and support their customers anywhere in Africa.” Said Termii CEO, Emmanuel Gbolade.

Termii’s achievements speak volumes about its impact in the CPaaS industry. The company grew its ARR by 3000% and message transactions to 400 Million from its last fundraise. It has also successfully worked with top global businesses such as Chipper, Paystack, Sterling Bank, Moniepoint Inc (formally Team Apt), Piggyvest, etc. making it the trusted partner for financial service companies, which accounts for 89% of its customer base. Additionally, more than 10,000 businesses rely on Termii’s API and no-code campaign dashboard for terminating SMS and voice messages monthly.

“Termii stood out to us as a game-changer in the A2P (Application-to-Person) messaging space. Their platform fills a crucial gap by providing seamless integration of telecom services, solving the high message failure rates and complex setup requirements experienced by businesses across the continent. 

We believe in Termii’s mission to revolutionize communication in Africa, and we are excited to partner with the exceptional founding team on this journey.” – Dr. Dotun Olowoporoku (General partner, Ventures Platform)

“In conversations we had with African businesses, Termii’s solution was cited as the fundamental piece of their infrastructure powering day-to-day business operations. Termii has been a game changer throughout the industry in ensuring the delivery of OTPs and transaction-related messages with a higher degree of certainty than ever before, and is still only scratching the surface of their vision as a communication layer”. – Samantha Wulfson (FinTech Collective)

According to Gbolade, Termii remains steadfast in its commitment to driving innovation, expanding its reach across the continent, and enabling businesses to effortlessly engage and support customers anywhere. 

This is why Termii started one of Africa’s first startup and developer outreach program called Termii Elevate which will see the company launch publicly its flagship mobile products on the 24th of June 2023 at The Zone Tech Park in Gbagada, Lagos. Nigeria.

The event is sponsored by Moniepoint with participation of other brands like Kuda Bank and Omnibiz.

The post Nigerian Customer Engagement Startup Termii Raises $3.65m appeared first on Tech | Business | Economy.