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TLcom Capital

Public data, unclaimed profile

Pan-African VC fund specialising in tech, from seed to Series B.

At a glance

Based on observed investment behaviour: 29 recorded deals

Investor type
Private equity or venture capital fund (inferred, not verified)
Capital type
Venture capital (inferred from deals)
Observed ticket
2 M$ – 42 M$, median 8.5 M$ (16 disclosed amounts)
Stated ticket : 500 k$ – 10 M$
Countries
Nigeria (16), Kenya (7), South Africa (3)
Activities
Fintech infrastructure (APIs, open banking, BaaS) (4), Vertical software (4), B2B e-commerce (2)
Instruments
Equity (29)
Stages
Pre-Seed (9), Seed (9), Series A (8)
Recent activity
2 deals in 12 months, latest Jun 2026

Stated thesis versus observed behaviour

  • Sectors: 76% of its deals within its stated thesis
  • Countries: 90% of its deals within its stated thesis
  • Ticket: 75% of its deals within its stated thesis

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Describe your need: the target list shows, for each source of capital, why it fits and which deals prove it.

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Investment thesis

Criteria published by the fund, recorded and checked by Invest Matching.

Investment ticket
500 k$ – 30 M$*
Instruments
Equity
Preferred sectors
Fintech, Edtech, Digital health, SaaS, Logistics, E-commerce*, Healthcare*, Business & personal services*, Financial services*
Target geographies
Nigeria, Kenya, West Africa, East Africa, South Africa*

* added from its deals

Stages (stated by the fund and from its deals)
Pre-SeedSeedSeries ASeries BGrowth

Team and contacts

LinkedIn profiles, emails and phone numbers are reserved for signed-in members: create an account to access them.

Reference deals

Recent public deals: they say better than a thesis what the fund actually signs.

Myka

June 2026 · Nigeria
Pre-SeedUndisclosed amountEquityFinancial servicesCo-Invest

Co-investor alongside Ventures Platform

Activity : Insurance

Nigerian insurtech startup Myka has raised an undisclosed pre-seed funding round from investors including Ventures Platform, TLcom, Shola Akinlade, co-founder of Paystack; Ridwan Olalere, founder of LemFi; and Olumide Soyombo, founder of Voltron Capital.

Source : weetracker.com

littlefish

March 2026 · South Africa
Series A9.5 M$EquitySaaSCo-Invest

Co-investor alongside Partech Africa

Activity : Vertical software

Vehicle : Partech Africa

littlefish is a merchant operating system integrating point-of-sale, back-office CRM, merchant portal, payments and APIs, enabling African banks to deliver digital merchant services.

Why they invested

  • Already serves tier-1 banks (Standard Bank, FNB, Absa)
  • 30x monthly recurring revenue growth since seed round
  • Expansion plan into 10+ additional African markets

Co-investors Flourish Ventures, Proparco

Source : partechpartners.comN1 · Primary source

TurnStay

August 2025 · South Africa
Seed2 M$EquityFintechCo-Invest

Activity : Payments and mobile money

Vehicle : TAPSI (TIDE Africa Pre-Seed Investments)

TurnStay is a South African fintech payment platform dedicated to the travel sector.

Why they invested

  • Marks 50% deployment of TLcom's $5M TAPSI pre-seed fund
  • TLcom's geographic diversification into Southern Africa

Co-investors CVVC, Enza Capital, Equitable Ventures, First Circle Capital, Incisive Ventures

Source : hapakenya.com

HoneyCoin

August 2025 · Kenya
Seed4.9 M$EquityFintechCo-Invest

Activity : Money transfer and remittances

Vehicle : TIDE Africa Fund II

HoneyCoin builds stablecoin-powered payment rails covering collections, treasury, settlements and FX across Africa.

Why they invested

  • High-traction cross-border payment infrastructure
  • Early positioning on stablecoins in Africa
  • Strategic partnerships (Visa, Interswitch)

Co-investors 4DX Ventures, Antler, Flourish Ventures, Lava, Musha Ventures, Stellar Development Foundation, Visa

Source : techcabal.com

Agrails

2025 · Kenya
Pre-SeedUndisclosed amountEquitySaaSCo-Invest

Activity : Data and AI

Vehicle : TAPSI (TIDE Africa Pre-Seed Investments)

Agrails builds an AI-powered investigative platform for risk assessment, monitoring and reporting across finance, agriculture and infrastructure.

Why they invested

  • Part of TLcom's TAPSI pre-seed portfolio
  • AI applied to risk assessment, a priority theme for TLcom

Source : tlcomcapital.com

HUB2

December 2024 · Côte d'Ivoire
Series A8.5 M$EquityFintechLead

Activity : Fintech infrastructure (APIs, open banking, BaaS)

Vehicle : TIDE Africa Fund II

HUB2 provides a unified API enabling neobanks, remittance and payment companies to process mobile money, bank transfers, card and crypto transactions across six Francophone countries.

Why they invested

  • Leader in payment interoperability across Francophone Africa
  • Strong TPV growth (€70M in 2022 towards ~€1B targeted in 2024)
  • Market underserved by Anglophone-focused players

Co-investors Africa Fintech Collective, Axian CVC, Bpifrance (Fonds Averroès / Afrique), Digital Currency Group, ENL Group, Enza Capital, FMO

Source : weetracker.com

littlefish

September 2024 · South Africa
SeedUndisclosed amountEquitySaaSLead

Activity : Vertical software

Vehicle : TIDE Africa Fund II

littlefish builds a digital platform helping banks, insurers and fintechs better serve South African SMEs.

Why they invested

  • TLcom's first South African investment
  • Underserved SME banking market (80 million SMEs across Africa)
  • Strategic partnership with Visa

Co-investors Flourish Ventures

Source : launchbaseafrica.com

Zone

March 2024 · Nigeria
Seed8.5 M$EquityFintechLead

Activity : Fintech infrastructure (APIs, open banking, BaaS)

Vehicle : TIDE Africa Fund II

Zone operates a blockchain network powering fiat transactions and, eventually, CBDC/crypto payments for Nigerian banks and fintechs.

Why they invested

  • Redesigning Africa's payment rails via blockchain
  • First VC round after becoming a standalone business in 2022
  • Early positioning on decentralized payment rails

Co-investors Alter Global, Digital Currency Group, Endeavor Catalyst, Flourish Ventures, Verod-Kepple Africa Ventures

Source : techpoint.africa

Knabu

2024 · Nigeria
Pre-SeedUndisclosed amountEquityFintechCo-Invest

Activity : Fintech infrastructure (APIs, open banking, BaaS)

Vehicle : TAPSI (TIDE Africa Pre-Seed Investments)

Knabu designs software systems to secure transactions and a blockchain-based clearing infrastructure for banks and fintechs.

Why they invested

  • Part of TLcom's TAPSI pre-seed portfolio

Source : tlcomcapital.com

Bright Financial

2024 · Sudan
Pre-SeedUndisclosed amountEquityFintechCo-Invest

Activity : Neobank and digital banking

Vehicle : TAPSI (TIDE Africa Pre-Seed Investments)

Bright Financial builds digital financial services serving Sudan and Ethiopia.

Why they invested

  • Part of TLcom's TAPSI pre-seed portfolio
  • Exposure to East African markets underserved by venture capital

Source : hapakenya.com

Cleva

2024 · Nigeria
Pre-SeedUndisclosed amountEquityFintechCo-Invest

Activity : Money transfer and remittances

Vehicle : TAPSI (TIDE Africa Pre-Seed Investments)

Cleva enables African individuals and businesses to open USD accounts to receive international payments.

Why they invested

  • Addresses demand for USD accounts among African diaspora and businesses
  • Rapid transaction volume growth within months of launch

Source : tlcomcapital.com

Vendease

September 2022 · Nigeria
Series A30 M$EquityE-commerceCo-Lead

Activity : B2B e-commerce

Vehicle : TIDE Africa Fund I

Vendease automates food procurement for restaurants in Nigeria and Ghana through a digital procurement platform.

Why they invested

  • Digitization of food procurement for the restaurant sector
  • Significant sourcing cost reduction for restaurant operators

Co-investors GFR Fund, Hack VC, Hustle Fund, Kairos Angels, Kube VC, Magic Fund, Partech Africa, VentureSouq

Source : techcrunch.com

Pastel

August 2022 · Nigeria
Seed5.5 M$EquitySaaSLead

Activity : Vertical software

Vehicle : TIDE Africa Fund II

Pastel offered a bookkeeping and digital-tools platform for Nigerian small merchants; the company had an exit in 2024.

Why they invested

  • Digitization of bookkeeping for informal Nigerian SMEs

Co-investors DFS Lab, Global Founders Capital, Golden Palm Investments, Plug and Play Ventures, Soma Capital, Ulu Ventures

Source : techcrunch.com

SeamlessHR

January 2022 · Nigeria
Series A10 M$EquitySaaSLead

Activity : Enterprise software (SaaS)

Vehicle : TIDE Africa Fund II

SeamlessHR builds cloud HR and payroll solutions for African businesses, active in Nigeria, Ghana and Kenya.

Why they invested

  • Nascent HR/payroll digitization opportunity in Africa
  • Pan-African expansion already underway at time of round

Co-investors Capria Ventures, Enza Capital, Ingressive Capital, Lateral Capital

Source : techcrunch.com

Kola Market

2022 · Ghana
Pre-SeedUndisclosed amountEquitySaaSCo-Invest

Activity : Vertical software

Vehicle : TAPSI (TIDE Africa Pre-Seed Investments)

Kola Market uses AI to help merchants track inventory, predict demand, and access inventory financing and BNPL credit.

Why they invested

  • Part of TLcom's TAPSI pre-seed portfolio
  • Addresses working-capital constraints of independent retailers

Source : tlcomcapital.com

Talstack

2022 · Nigeria
Pre-SeedUndisclosed amountEquitySaaSCo-Invest

Activity : Enterprise software (SaaS)

Vehicle : TAPSI (TIDE Africa Pre-Seed Investments)

Talstack develops a SaaS platform related to talent recruitment and management, active in Nigeria and Kenya.

Why they invested

  • Among the first checks of TLcom's TAPSI pre-seed vehicle
  • Progressed to a Fund II seed round in 2024

Source : tlcomcapital.com

Autochek

October 2021 · Nigeria
Seed13.1 M$EquityE-commerceCo-Invest

Co-investor alongside Enza Capital

Activity : Online marketplaces

Pan-African automotive company combining an automotive marketplace, digital services and vehicle financing solutions.

Why they invested

  • Build a pan-African automotive platform
  • Address growing automotive demand across Africa
  • Expand financing and distribution services

Co-investors 4DX Ventures, ASK Capital, Golden Palm Investments, Lateral Capital, Mobility 54

Source : techcrunch.com

FairMoney

July 2021 · Nigeria
Growth42 M$EquityFintechCo-Invest

Activity : Neobank and digital banking

Vehicle : TIDE Africa Fund II

FairMoney is a mobile bank for emerging markets offering instant credit and a full suite of banking services via app.

Why they invested

  • Massive upside in African consumer digital credit and banking
  • Strong traction in instant credit lending in Nigeria

Co-investors Tiger Global

Source : techcrunch.com

Pula

January 2021 · Kenya
Series A6 M$EquityFintechLead

Activity : Insurtech

Vehicle : TIDE Africa Fund I

Pula develops agricultural insurance products protecting African smallholder farmers against weather-related risks.

Why they invested

  • Near-absent agricultural insurance market for African smallholders
  • Expansion into Asia already underway at time of round

Co-investors Women's World Banking

Source : techcrunch.com

Ilara Health

December 2020 · Kenya
Series A3.75 M$EquityHealthcareLead

Activity : Labs and imaging

Vehicle : TIDE Africa Fund I

Ilara Health equips neighborhood clinics in East Africa with affordable, connected diagnostic tools.

Why they invested

  • Limited access to quality medical diagnostics in peri-urban and rural areas
  • Capital-light equipment-leasing model for clinics

Co-investors Chandaria Capital, DOB Equity, Global Ventures

Source : techmoran.com

Autochek

November 2020 · Nigeria
Pre-Seed3.4 M$EquityE-commerceCo-Lead

Activity : Online marketplaces

Vehicle : TIDE Africa Fund I

Autochek provides automotive-industry technology enabling financing and services around vehicle sales, active in Nigeria, Ghana, Côte d'Ivoire and Kenya.

Why they invested

  • Digitization of a fragmented, informal African automotive market
  • Rapid multi-country expansion from pre-seed stage

Co-investors 4DX Ventures, Golden Palm Investments, Verod-Kepple Africa Ventures, Lateral Capital, MSA Capital

Source : disruptafrica.com

Shara

2020 · Kenya
SeedUndisclosed amountEquityFintechCo-Invest

Activity : Digital lending and scoring

Vehicle : TIDE Africa Fund I

Shara offers a digital bookkeeping and credit app for micro-merchants in Kenya and Nigeria.

Why they invested

  • Digital formalization of the informal micro-merchant economy

Source : tlcomcapital.com

Okra

2020 · Nigeria
Pre-SeedUndisclosed amountEquityFintechCo-Invest

Activity : Fintech infrastructure (APIs, open banking, BaaS)

Vehicle : TIDE Africa Fund I

Okra provided open-banking APIs connecting Nigerian bank accounts to third-party apps; the company shut down in 2025.

Why they invested

  • Early bet on open banking in Nigeria

Co-investors Susa Ventures

Source : nairametrics.com

uLesson

2019 · Nigeria
SeedUndisclosed amountEquityEdtechCo-Invest

Activity : E-learning and online courses

Vehicle : TIDE Africa Fund I

uLesson provides video lessons and digital learning content for primary and secondary students in Nigeria and Ghana.

Why they invested

  • Limited access to quality education outside major cities
  • Content localized to national school curricula

Source : tlcomcapital.com

Kobo360

December 2018 · Nigeria
Seed6 M$EquityLogisticsCo-Invest

Activity : Supply chain software

Vehicle : TIDE Africa Fund I

Kobo360 connected shippers and truckers via a digital logistics platform in Nigeria, Kenya, Ghana and Côte d'Ivoire; the company has since faced severe financial difficulties.

Why they invested

  • Digitization of pan-African road logistics
  • Network effects between shippers and truckers

Co-investors IFC (International Finance Corporation)

Source : kobo360.medium.com

Twiga Foods

November 2018 · Kenya
Series B10 M$EquityE-commerceCo-Invest

Activity : B2B e-commerce

Vehicle : TIDE Africa Fund I

Twiga Foods connects farmers and retailers through a tech-enabled food distribution platform in Kenya.

Why they invested

  • Digitization of Kenya's informal food supply chain
  • Strong network effects between farmers and retailers

Co-investors Global Agriculture and Food Security Program (GAFSP), IFC (International Finance Corporation)

Source : techweez.com

Ajua

2018 · Kenya
Series AUndisclosed amountEquitySaaSLead

Activity : Martech and communications platforms

Vehicle : TIDE Africa Fund I

Ajua provides a SaaS customer engagement and data platform, active in Kenya, Nigeria, Ghana and South Africa.

Why they invested

  • Digitization of customer relationship management for African businesses

Source : tlcomcapital.com

Terragon

2018 · Nigeria
Series AUndisclosed amountEquitySaaSLead

Activity : Martech and communications platforms

Vehicle : TIDE Africa Fund I

Terragon provides SaaS digital marketing and consumer-data analytics solutions, active in Nigeria, Kenya, Ghana and South Africa.

Why they invested

  • Leveraging mobile data for digital marketing across Africa

Source : tlcomcapital.com

Andela

October 2017 · Nigeria
Growth40 M$EquityBusiness & personal servicesCo-Invest

Activity : Recruitment and staffing

Vehicle : TIDE Africa Fund I

Andela connects international companies with African software engineers through a remote talent marketplace.

Why they invested

  • Access to a large pool of undervalued African tech talent
  • Scalable remote-staffing model

Co-investors Amplo, CRE Venture Capital, DBL Partners, Salesforce Ventures

Source : forbes.com

In short

TLcom Capital invests tickets ranging from 500 k$ to 30 M$, across the following sectors: Fintech, Edtech, Digital health, SaaS, Logistics, E-commerce, Healthcare, Business & personal services, and Financial services, in the following areas: Nigeria, Kenya, West Africa, East Africa, and South Africa. Check in 30 seconds whether your company fits these criteria.