Startups in Zambia: Funding And Founders

In this blog post, we will be discussing the startup scene in Zambia. We will cover funding and founders to help you get a feel for what it’s like to start a company in Zambia.

What is a startup?

A startup is a company or organization designed to grow fast. Being newly founded does not necessarily mean it is a startup. To be categorized as such, the business should exhibit several characteristics like:

– Rapid growth (employs more people than before and/or has higher revenues)

– Proprietary technology that contributes value to your business model

– A scalable business model that can be used to launch additional products or services quickly

In Zambia, being a startup is still relatively new. However, there have been many success stories of startups gaining traction and earning revenue within six months which gives hope for the future. Some examples are:

Start-up nameWebsiteLaunchTweet pitchSector# of FoundersAmount raised $MTypeYearInvestors
Rent To Own assets to small scale-entrepreneurs and smallholder farmers in ruralFintech31.1Seed2019Seed Capital and Business Development facility of the Dutch Good Growth Fund (DGGF)
Zazu card with a linked expense tracker appFintech31.4Series A2019N.a.
Lupiya, digital microfinance platform that leverages technology to make the process of borrowing simpler and easier for people and businesses located across the countryFintech21Venture Round2020Enygma Ventures
Good Nature Agro supporting smallholder farmers to improve their productivity through soil-enriching legume farming and links them to high-value legume marketsAgriculture & Food32.1Series A2020Goodwell Investments, Global Partnerships, FINCA Ventures
PremierCredit micro-loans to Zambian entrepreneurs and small scale tradersFintech20.7Seed2020Enygma Ventures
WidEnergy Africa delivery of clean, reliable and affordable energy and connectivity solutionsEnergy & Water10.2Grant2021GSMA Innovation Fund
WidEnergy Africa delivery of clean, reliable and affordable energy and connectivity solutionsEnergy & Water10.1Debt2021Opes-LCEF

Thank you for checking out this list of startups in Zambia and how much they have raised so far.

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