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    Home»Startups»Saviu Raises €25 Million In Second Close of Funding Round, Plans To Back Early Stage Startups In Francophone Africa
    Startups

    Saviu Raises €25 Million In Second Close of Funding Round, Plans To Back Early Stage Startups In Francophone Africa

    Samuel IgeBy Samuel IgeFebruary 6, 2025No Comments3 Mins Read
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    Image Credits: Saviu Media

    Francophone Africa-focused venture capital firm, Saviu Ventures, has closed the second round of its Saviu II fund with €25 million. The round, which aims to support early-stage startups in the region, saw support from institutional investors like the Dutch Good Growth Fund (DGGF), Proparco, and AXIAN Investment.

    2018 saw the launch of Saviu I, a €11 million fund allocated to high-potential startups in Francophone Africa. Saviu I, has been instrumental in shaping the venture ecosystem in Francophone Africa, with investments in startups such as:

    • Anka (Ivory Coast) — A SaaS e-commerce platform facilitating payments and logistics for African vendors.
    • Lapaire (Ivory Coast) — An affordable eyewear retailer operating in six African countries.
    • Zanifu (Kenya) — An inventory financing platform that has disbursed over $45 million in credit to SMEs.
    • Paps (Senegal) — A logistics startup providing delivery and freight services across West Africa.

    Five years later, Saviu II came into the scene, closing at €12 million and saw participation from a mix of private investors, European and African entrepreneurs, high-net-worth individuals, and family offices. The latest funding milestone brings Saviu II closer to its goal of €30 – €50 million. The venture firm also secured licensing from the Mauritius Financial Services Commission (FSC), establishing itself as one of the few independent, fully regulated venture capital fund managers in Francophone West Africa.

    Saviu Ventures caters to tech and tech-powered businesses across the fintech, health-tech, edtech, climate tech and eCommerce sectors. The venture capital firm plans to deploy investments ranging from €500,000 to €3 million. Its strategy is to act as a lead or reference minority shareholder while adopting a hands-on approach to supporting portfolio companies in areas like business development, recruitment, expansion, and fundraising.

    Saviu II has already invested in several startups, including:

    • Julaya (Ivory Coast) — A B2B neobank offering virtual accounts, batch mobile money transfers, and working capital solutions.
    • Rubyx (Senegal) — A lending-as-a-service fintech platform enabling credit assessments for SMEs.
    • Waspito (Cameroon) — A digital health platform providing online consultations and at-home lab services.Workpay (Kenya) — A SaaS HR and payroll platform operating in Kenya and Nigeria.
    • Userguest (Morocco) — A marketing automation software for hotels to optimize direct bookings.
    • Resolute (South Africa) — A robotics and coding education platform for K-12 schools.

    Benoit Delestre, Managing Partner at Saviu Ventures, highlighted the essence of the funding milestone: “Welcoming our first institutional investors validates our investment approach and strengthens our ability to foster meaningful partnerships between portfolio companies and corporate stakeholders.”

    At the same time, Samuel Touboul, Managing Partner at Saviu Ventures, highlighted the firm’s long-term vision: “With a strong presence in Francophone Africa, an expanded team, and institutional backing, we are committed to advancing the African tech ecosystem and delivering returns to our investors.”

    Representatives from the fund’s institutional backers also expressed their support. Orsolya Farkas, Head of Funds and Equity at Triple Jump, the consortium partner managing DGGF, stated, “We are pleased to partner with Saviu Ventures to support African entrepreneurs and create jobs, aligning with DGGF’s core objectives.”

    Fabrice Perez, Head of Venture Capital at Proparco, underscored Proparco’s commitment to the African startup ecosystem: “Investing in Saviu Ventures is aligned with our mission of supporting innovation and impactful businesses across the continent.”

    Agnès Beri-Jousselin, Head of Private Equity & VC at AXIAN Investment, added, “Our partnership with Saviu Ventures reflects our dedication to fostering high-growth startups in Francophone Africa and contributing to Africa’s evolving tech landscape.”

    African Startups Funding Venture Capital
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    Samuel Ige

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