3 African Startups Have Received Funding from Morroco’s Outlierz Ventures

Outlierz Ventures, a Morocco-based business to business (B2B) venture capital fund, has invested in three innovative tech startups in Africa, namely YouVerify, Bamboo, and Healthlane.

The three selected tech-based startups will use the funding from Outlierz Ventures to reinvent the conventional industries of Africa in various sectors, including fintech, wellness, logistics and supply chain.

Kenza Lahlou, co-founder and managing partner of Outlierz Ventures, spoke in an official press release on the most recent investments made in selected tech startups and how COVID-19 affected their investment decisions.

“We are delighted to announce our new investments in three African technology companies and are very proud of the outstanding results of our portfolio. 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 catalyze others.”

YouVerify

YouVerify, a start-up based in Nigeria, has developed a unique technology that automates and digitises the process of checking KYC (Know-Your-Customer). This enables banks and telecommunications providers to digitally check their customers’ identities and provide them with remote services.

Bamboo

Bamboo, a technology start-up based in Nigeria, offers a service that allows Nigerians to invest in the US stock market through a mobile app that is directly linked to their Nigerian bank account. Users are also able to access capital markets and invest in the evening out.

Healthlane

Healthlane, a startup located and operational in Cameroon and Nigeria provides a premium healthcare service in public hospitals. The company not only offers digital services but provides online appointment booking, telemedicine, and access to laboratory test results via a mobile app. This assists public hospitals with capacity and efficiency-related issues.

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About Outlierz Ventures

Founded in 2019, Outlierz Ventures is made up of a conglomerate of entrepreneurs and investment experts. The aim of the VC fund is to assist early-stage startups that are contributing to Africa’s essential industries in finance, health, and supply chain.

The VC fund invests in startups located in Morocco, Egypt, Nigeria, and Kenya which are reportedly Africa’s most dynamic ecosystems.

Since its inception, Outlierz Ventures have invested in a total of eight startup companies across Africa.

Focusing on fintech and healthtech
Covid-19 has created opportunities for Outlierz Ventures to invest in three companies.