Founders Factory Africa Raises $114 Million to Scale Its Impact in African Tech Ecosystem
Founders Factory Africa (FFA), a South African early-stage accelerator and investor, has secured $114 million in funding from partners including the Mastercard Foundation and Johnson & Johnson Impact Ventures. The capital injection will enable FFA to expand its hybrid investment and venture-building model, which combines venture studio and VC approaches to support early-stage founders building local solutions to African challenges.
FFA, founded in 2018, has partnered with organizations such as Standard Bank, Netcare Group, and Small Foundation to support startups across sectors like health tech, fintech, and agtech. The company offers investment, operational expertise, technical support, and access to distribution channels for startups. It aims to drive sustainable economic growth in Africa by backing innovative local ventures.
The recent funding will not only be used for investing in startups but also to strengthen FFA’s operational capacity, support growth, and build intellectual property to aid startups in scaling their businesses. FFA intends to remain agnostic about sectors and focus on opportunities that emerge across diverse industries in Africa.
The company also emphasizes gender balance, with a significant percentage of its portfolio being women-founded and women-led startups. The nondilutive funding provided by FFA will help startups explore business models without giving up equity.
FFA has backed and scaled 55 startups across 11 African countries since its inception in 2018. With the new funding, the company aims to provide valuable support and capital to more African founders, contributing to the growth of the African tech ecosystem.