August 17th 2023.
Founders Factory Africa (FFA) recently raised $114 million to scale their model and better serve founders in the African tech ecosystem. Co-founders Roo Rogers and Alina Truhina, along with CEO Bongani Sithole, have created a unique structure that allows for long-term commitments to the companies they fund.
According to Sithole, this structure is a continuous relationship between investors, corporates, and startups. He believes this will give them access to capital and allow startups to better integrate and leverage assets on the continent.
The recent financial windfall will help FFA build a more robust system in-house. They plan to hire new talent and continue building their intellectual property.
Truhina shared her vision to help founders access different types of capital, which she believes will provide double, triple, and quadruple the value. Since FFA's inception in 2018, the firm has backed and helped scale 55 startups across 11 African countries. The startups are broken across three programs and receive anywhere from $40,000 to $250,000 cash in exchange for varying equity stakes.
FFA is committed to making a meaningful impact on the African tech ecosystem. With their funding model, investments, and commitment to founders, they are well on their way to doing just that.
[This article has been trending online recently and has been generated with AI. Your feed is customized.]
[Generative AI is experimental.]
