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  • Lagos, Nigeria
  • Info@bhluemountain.com
  • Office Hours: 8:00 AM – 5:00 PM Mon - Fri
  • May 29 2025
  • BM

Startups on Our Radar: 10 African startups rethinking ride-hailing, credits, and banking no one’s talking about yet

Startups on Our Radar is a bi-weekly column that spotlights new startups across Africa taking unconventional approaches, filling fundamental gaps, and creating value in a way that feels fresh, focused, and meaningful. Know a startup we should feature next? Please nominate here. In our second edition, we featured 10 African startups opening markets, cutting CO₂, and seafarming no one’s talking about yet. If you missed it, catch up here. Expect the next dispatch on June 12, 2025. Let’s get into today’s picks. 1. Tendo is unlocking entrepreneurship by removing inventory risk for thousands (E-commerce, Ghana)   I first heard about Tendo while doomscrolling on LinkedIn. Someone was raving about how it’s helping everyday Ghanaians start online businesses without the usual headaches of inventory or capital.  Founded in 2021 by Felix Manford, Evans Boateng, Derrick Mungai, and Primerose Katena, Tendo enables tens of thousands of individuals to launch and grow online businesses without upfront capital. The platform connects aspiring entrepreneurs with suppliers, handles inventory and delivery, and empowers users to sell directly via social channels like WhatsApp and Facebook.  Why we’re watching: By removing inventory risk and simplifying operations, the company is unlocking entrepreneurship for people who’ve traditionally been sidelined by capital and logistics challenges. This model could redefine how digital commerce scales across Africa’s informal economies, especially for women and youth. The company is also backed by Y Combinator and Renew Capital.. 2. eMaisha Pay is building a neobank tailored for agribusinesses (Fintech, Uganda)   When I came across eMaisha Pay, I was fascinated by its focus on agribusinesses. Unlike most neobanks chasing urban SMEs, eMaisha is laser-focused on farmers and small agribusinesses who’ve been left out of the financial system for too long. Founded in 2021 by Sserubiri Joseph Uhuru, its mobile app and prepaid card make it easy for these businesses to save, transact, and get loans without the usual paperwork nightmare. Why we’re watching: Agriculture remains the heartbeat of Africa’s economy, yet financial services for farmers and agribusinesses are still stuck in the past. eMaisha’s laser focus on this underserved segment means it offers a lifeline for rural entrepreneurs who need tailored financial products that fit their unique cash flows and risks. By integrating savings, payments, and credit into one seamless platform, eMaisha could unlock a wave of productivity and resilience in African agriculture, with ripple effects on food security and rural livelihoods. 3. Zeeh Africa is bringing AI-powered open banking to Nigeria’s fragmented financial landscape (Fintech, Nigeria)   Zeeh Africa came into my radar when I attended the Ibadan Startup Fest last year. The startup was a headline sponsor. I had a quick chat with the founder and was struck by how the company is building tools that let people link all their financial accounts, get personalised advice, and unlock credit opportunities—all in one place.  Launched in 2022 by David Adeleke and Frank Uwajeh, Zeeh Africa’s AI-powered open banking platform lets individuals and businesses link all their accounts, track spending, receive personalised financial advice, and unlock new credit and investment opportunities in real-time. By aggregating financial data and providing actionable insights, Zeeh is one of the open banking startups breaking down silos and giving users the tools to make smarter financial decisions Why we’re watching: With Nigeria finally opening the door to open banking, Zeeh Africa is perfectly positioned to help shape what this new era looks like.  The startup feels like one of the few teams genuinely trying to make all the messy bits of personal finance—multiple accounts, scattered spending, random loan offers—make sense for regular people. If it can pull off what it’s building could mean less financial chaos and maybe even smarter money decisions for everyday Nigerians.  4. Carrot Credit lets you borrow against your crypto and stocks without selling (Fintech, Nigeria)   I first met Bolu Aiki-Raji, Carrot Credit’s founder, while interviewing the team for its $4.1 million seed raise. On that call, I was fascinated by the startup’s idea. He told me about the company’s approach to letting people borrow against their crypto and stock holdings without selling. It stuck with me because it’s such a fresh take on liquidity, giving investors access to cash without losing exposure to their assets. Why we’re watching: In markets where traditional credit is scarce or inaccessible, being able to borrow against crypto or stocks without selling is revolutionary. This model not only preserves investment upside but also introduces a new form of collateral that’s native to Africa’s growing digital economy. As crypto adoption rises, Carrot’s frictionless, no-paperwork lending could become the go-to credit option for millions. 5. Kapsule is turning healthcare data into actionable insights (Healthtech, Rwanda)   An investor first introduced me to Kapsule, the Rwandan healthtech startup. And within minutes, I was drawing parallels to PBR LifeSciences, a Nigerian startup with a similar business model.  Founded in 2020 by David Chen and Hannan Hashmi, Kapsule is helping hospitals and pharmacy groups turn raw data into insights to improve patient care. The platform captures, processes, and analyses health data, providing multinational pharmacy groups with data and insights to make informed decisions, like product pricing, forecasting, and new product development, in the African markets it operates. Why we’re watching: Healthcare in Africa is often hampered by poor data, fragmented, incomplete, or inaccessible. Kapsule is quietly building the infrastructure to change that by turning raw health data into insights that can save lives and improve care. Its work is foundational, enabling hospitals and health startups to make evidence-based decisions, optimise resources, and track outcomes.  Pharmaceutical companies often struggle with excessive production volumes due to a lack of understanding of actual market demand. PBR gathers anonymised data—drug quantity, prices, and how frequently they are purchased—from various pharmacies to enable pharmaceutical companies to better match production with actual market demand. 6. Recital Finance is automating financial operations for Africa’s fintechs and corporates (Fintech, Nigeria)   I came across Recital Finance during Accelerate Africa’s pitch event in Lagos. What stood out was the company’s pitch: automating the messy, manual financial operations that slow

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