Founders Factory Africa has secured an additional $113 million (R2.1 billion) in funding to support technology start-up founders across Africa.
- The funding comes from the Mastercard Foundation and Johnson & Johnson Impact Ventures, in addition to previous investments by Standard Bank, Small Foundation, and Netcare.
- This support will enable Founders Factory Africa to expand its model and provide assistance to tech-led start-ups and founders throughout the African continent.
- Since its establishment in 2018, Founders Factory Africa has already helped develop approximately 55 tech start-ups.
- The CEO of Founders Factory Africa, Bongani Sithole, emphasized the importance of supporting tech-driven ventures that have the potential to scale quickly and make a significant impact.
- The organization aims to provide founders with funding, knowledge, and hands-on support to help them achieve commercial success and create meaningful systemic change in Africa.