Madica, the Africa-focused pre-seed investment programme, has invested up to $200,000 in each of five startups, marking its first entries into Algeria and Cameroon. The deals bring its total capital deployed this year to $1.6 million and expand its portfolio to 18 companies across 10 markets.
Each selected company also joins Madica’s 18-month programme, which provides mentorship, executive coaching, funded immersion trips and access to the firm’s investor network alongside the capital.
The new cohort spans four countries and several sectors:
- Talenteo (Algeria), co-founded by Louai Djaffer, offers HR software for medium-sized and mid-market companies across Francophone Africa.
- Paysika (Cameroon), co-founded by Roger Nengwe and Stezen Bisselou, operates a digital neobank issuing virtual and physical cards to consumers and small businesses in Central Africa.
- ChipMango (Nigeria), co-founded by Ola Fadiran and Jovan Andjelich, focuses on chip design, engineering training and edge AI products.
- Delta Oil (Egypt), co-founded by Serag Moussa, connects collectors of used cooking oil with international buyers of renewable fuel feedstock.
- Bekia (Egypt), which runs a digital platform that pays households and businesses for recyclable waste and supplies materials to industrial buyers.
Madica, backed by Flourish Ventures, positions itself as a structured pre-seed vehicle aimed at founders outside the continent’s most active venture markets. Head of Madica Emmanuel Adegboye said the investments reflect a belief that strong founders exist across Africa and that early-stage capital remains too concentrated in a handful of ecosystems.
Algeria and Cameroon have historically seen limited institutional venture activity. Madica’s first investments there signal an intentional effort to reach markets that often fall outside typical funding corridors. The programme prioritises companies with an MVP, limited prior institutional funding, local full-time founders, and a clear need for the $200,000 cheque.
The latest round continues Madica’s pattern of patient capital combined with hands-on support. Whether these early bets in less-funded markets translate into durable companies will depend on execution, local market conditions and the founders’ ability to scale beyond the 18-month programme.
