Morocco-based VC fund, Outlierz Ventures, has announced that it has made investments in three Nigeria-based, tech-enabled startups. These startups are working on transforming the traditional African industries and focusing on the tech ecosystem in industries such as fintech, healthtech and supply chain and logistics.
The three ventures they invested in are YouVerify, Bamboo and Healthlane. YouVerify provides banks and telecom operators the ability to digitally verify their customers’ identities and provide them remote services. Bamboo, meanwhile, is an investment app that enables Nigerians to invest in the US stock market directly through their Nigerian bank account. The third, Healthlane, is a healthtech startup that provides hospitals with a full suite of tools to increase their efficiency in Nigeria and Cameroon. This includes online appointment booking, telemedicine, and access to laboratory test results via a mobile app.
In an Outlierz Ventures official press release, co-founder and Managing Partner, Kenza Lahlou, touched on the most recent investments and the role that COVID-19 played in influencing their decision. “The African market represents a huge opportunity to build innovative tech-enabled platforms that transform traditional business models across key sectors of the economy. The crisis we are currently experiencing is accelerating this digital transformation. This has been demonstrated by the recent acquisition of Paystack, a Nigerian fintech in payments, by the US leader, Stripe valued at $34 billion, for over $200 million last October. This is a major event in the African tech ecosystem that we are confident will catalyse others.”
Outlierz Ventures invest in startups based in Egypt, Morocco, Nigeria and Kenya, which are considered Africa’s most active and prolific entrepreneurial ecosystems. Since their founding in 2019 they have invested in eight startups across the continent.