How much funding have BaaS startups in Africa raised?

BaaS startups in Africa have raised $33.1M in disclosed funding.

Who invests in BaaS startups in Africa?

Luno Expeditions has backed 2 BaaS startups, followed by A15 (1) and Acasia Ventures (1).

BaaS Startups in Africa

StartupList Africa tracks 12 BaaS startups across Africa, which have raised $33.1M in disclosed funding. Nigeria has the most, with 4, followed by Kenya (3) and Egypt (1).

Updated 7 Oct 2026

Tracked Companies

Avg. Deal Size

$2.4M

Active Startups

Total Funding

$33.1M

Avg. Growth

BaaS companies

12 companies in this sector

Submit startup

Company	Tagline	Total Funding	Last Round	Team Size	Backers
Menthum Egypt	Menthum is an Egypt-based FinTech venture which is devising a digital saving solution that's simple & secure.	-	Pre-seed -	11-50	No Data
Bloc Nigeria	Bloc is building the all-in-one FinTech infrastructure stack — for startups and organisations.	-	- -	201-500	No Data
Bank Zero South Africa	Bank Zero is a South African app-only digital mutual bank.	-	- -	11-50	No Data
ARC Ride Kenya	ARC Ride is providing the electric solution to mass-transportation in rapidly-growing African cities.	$20M	Series A -	11-50	No Data
Maplerad Nigeria	Banking services for the unbanked: Maplerad provides a modern banking platform for Nigerians.	$6M	Seed -	2-10	No Data
Anchor Nigeria	Anchor is a banking-as-a-service startup that builds, embeds and launch financial products for African businesses.	$3M	Non-equity Assistance -	2-10	No Data

Brass Nigeria	Brass is a Nigerian-based digital bank that provides a platform for the growth of especially small and medium scale businesses.	$2M	Seed -	11-50	No Data
KIMS Microfinance Somalia	KIMS Microfinance is Somalia’s first and only dedicated and privately-owned microfinance institution.	$1M	Venture -	51-200	No Data
EasyBank Tunisia	EasyBank provides digital solutions that enhance access to loans and other financial products.	$370K	Seed -	2-10	No Data
Cauri Money Senegal	Cauri Money offers payment services for African diasporas	$350K	Grant -	2-10	No Data
hela.money Kenya	hela.money aims to digitise the way money moves and flows in the global economy.	$175K	Non-equity Assistance -	2-10	No Data
Lemonade Payments Kenya	Lemonade Payments is a fintech company simplifying business transactions with seamless payments, transfers, and financial tools.	$100K	Seed -	11-50	No Data

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BaaS startups by country

Top BaaS investors in Africa

Luno Expeditionsbacked 2
A15backed 1
Acasia Venturesbacked 1
Acuity Venturesbacked 1
Acumenbacked 1
Armyn Capitalbacked 1

BaaS startups: quick facts

How many BaaS startups are there in Africa?: StartupList Africa tracks 12 BaaS startups across Africa.
How much funding have BaaS startups in Africa raised?: BaaS startups in Africa have raised $33.1M in disclosed funding.
Which African countries have the most BaaS startups?: Nigeria has the most, with 4, followed by Kenya (3) and Egypt (1).
Who invests in BaaS startups in Africa?: Luno Expeditions has backed 2 BaaS startups, followed by A15 (1) and Acasia Ventures (1).