Shiprazor, Oze, Regxta and 12 others  get funding from Renew Capital

African early-stage investment firm Renew Capital has selected 15 companies for investment through its inaugural venture lab, EmFi Series. The chosen companies represent 10 countries, including Ethiopia, Nigeria, Ghana, Kenya, Togo, and Zambia. Ghana and Nigeria had the most representation, with four and three startups, respectively.

Small businesses generate roughly 80% of jobs in Africa, yet still face an estimated $330 billion annual credit shortfall. While fintechs and microfinance institutions are increasingly providing capital to small businesses, Renew Capital’s bet is that embedded finance offers a more scalable way to reach small and medium-sized enterprises (SMEs) by turning the software they already use into financial infrastructure. 

“The next generation of Africa’s small business banks will not be banks. They will be startups that already understand how SMEs operate, have their data and have earned their trust. These 15 companies are building from that advantage,” Matthew Davis, Co-CEO of Renew Capital, said.

Forty-seven finalists were shortlisted from about 500 applications, and each finalist received a $250,000 venture-building package. However, Renew Capital did not disclose how much capital was invested in the final 15 companies.

The list of 15 fintech SME companies

AgroCenta 

An agritech startup helping smallholder farmers access markets, financing, digital identity, savings, loans, and other financial services through its digital platform. AgroCenta has facilitated the distribution of over 70,000 metric tons of produce and provided access to financing for over 10,000 farmers. 

Boost Technology 

Boost Technology digitises the daily operations that informal retailers already manage. Operating across Ghana, Nigeria and South Africa, the company is building financial track records for thousands of small Fast-Moving Consumer Goods (FMCG) merchants, data that could eventually power lending and other embedded finance products. It has raised about $1.5 million to date. 

Dots for Africa 

Dots for Africa builds digital solutions for African businesses, particularly around trade, logistics, and commercial connectivity. Its focus is on solving operational inefficiencies for SMEs. It also serves off-grid rural villagers with no internet or banking access. 

Fanaka

Fanaka operates with the belief that access to credit should come with financial education. Alongside digital loans, the Zambian startup bundles e-learning and micro-insurance for MSMEs, with women-led businesses accounting for most of its customer base.

Kutana

B2B cross-border payments and trade-finance platform Kutana Pay provides digital escrow and multi-currency wallets. It uses business relationship data that could be valuable for embedded lending and financial products. 

Majibu Africa 

For many boda-boda (motorcycle) riders in Kampala, buying a motorcycle outright is almost impossible. Majibu Africa finances those purchases through weekly instalment payments while extending similar financing to electronics and smartphones. Riders can get a loan in as little as 30 minutes once they make a deposit of UGX 1,000,000 ($275). 

Marakisoft 

Many Ethiopian SMEs still run their businesses on paper. Marakisoft replaces those manual records with accounting and enterprise management software, creating the financial history lenders need before extending credit. 

Oze 

Ghana-based Oze helps small businesses keep up-to-date financial records. The startup turns sales and expense data into credit scores that banks can use to issue collateral-free loans, while also licensing its lending management software to financial institutions. The startup, which launched in 2018, now operates in eight African countries and has raised over $3 million from investors such as Speedinvest, Ingressive Capital, and Rising Tide Africa. 

Regxta 

Regxta uses agency banking to provide financial services to individuals in Nigeria’s rural areas. Inspired by personal experiences, Regxta has processed over $1 million in transactions for more than 4,000 customers. Its customers can access loans without a detailed borrowing history. Earlier in the year, Regxta was selected for the 10th cohort of the Google for Startups Accelerator Africa program. 

Rigo 

It rebranded into Rigo Incorporated from NucleusIS Africa after its acquisition of Rigo Microfinance Bank. It is a financial infrastructure startup focused on the healthcare industry. It offers collateral-free loans and insurance. It claims to have disbursed more than ₦10 billion in loans since 2019. Its technology also serves 3 of Nigeria’s 12 major health maintenance organisations (HMOs) and manages data for over 1.3 million insured individuals across Nigeria and Ghana. 

Shiprazor 

The South African logistics startup Shiprazor is built for e-commerce businesses. It gives merchants instant access to over 16 leading courier networks, including FedEx, through a unified API. The company has partnered with Takealot Fulfillment Solutions (TFS), the logistics arm of South Africa’s largest e-commerce group. This made the average delivery time less than 30 minutes. The company raised $2.65 million in seed funding in May 2026, backed by notable investors like Norrsken22 AAIC, E4E, Tremis Capital, and senior executives from Google. 

Solimi 

Solimi aims to bridge the gap between the traditional banking system and the unbanked populations. The Togolese fintech uses physical and virtual cards to provide access to these payment solutions. The company also operates a mobile app called Gnim. It was a finalist in the Africa Prize for Engineering Innovation.

Tradevu 

Tradevu is a fintech providing financial services tailored to businesses operating across the energy, manufacturing, minerals, and agriculture sectors. The company offers a suite of solutions, including business banking, payments, and trade finance, serving more than 200 businesses across four countries.

Tradevu helps businesses manage operations and access working capital more efficiently. The company was founded by Nkiru Amadi-Emina, who previously co-founded Pivo, a logistics-focused fintech that was accepted into Y Combinator.

Z Systems 

Z Systems is a Moroccan retail-tech and B2B2C marketplace platform transforming how goods flow across North Africa’s $40 billion traditional trade sector. It connects brands, wholesalers, and neighbourhood convenience stores (hanouts) through a unified digital coordination layer. It has a network of over 16,000 active neighbourhood retailers and hosts more than 600 brands. It plans to modernise 50,000 traditional neighbourhood grocery stores (hanouts) in line with the Moroccan Commerce 2030 strategy. 

Zendawa 

Zendawa is a Kenyan healthtech company digitising pharmacies and healthcare providers through an integrated digital platform. The company helps pharmacies streamline inventory management, monitor stock levels in real time, and track medication expiry dates to reduce waste and prevent stockouts. Beyond inventory management, Zendawa enables pharmacies to sell medicines online and offer virtual consultations to patients.

Last updated: July 9, 2026