Lateral Frontiers VC

Lateral Capital is a mission driven venture fund investing in early and growth stage opportunities in Africa. We back companies that provide foundational technologies for the continent. We make debt and equity investments technology-enabled businesses that profitably solve significant pain points across financial services, healthcare, education, energy, agriculture, housing, logistics, mobility and more.

Akhigbe-Ogionwo, Ochuwa

Operating Principal

Rob Eloff

Managing Partner

Steven Grin

Managing Partner

Samakab Hashi

Partner

Lorraine Maina

Venture Partner

Shreyas Mishra

Senior Analyst

Hayden Simmons

Venture Partner

37 past transactions

CNote

Series A in 2022
CNote is an investment platform that earns a better return while investing in the causes and communities that matters. CNote rewards great savers with alternative financial vehicles that earn more - safely and simply. Their first product, CNote Savings, helps good savers earn up to 2.5% annual return -- that's 35x more than a traditional savings account. The was founded in 2016 by two women with decades of experience working in finance, venture capital, and private equity. CNote is headquartered in Oakland, California.

Kashier

Venture Round in 2022
Kashier is a payment management platform for commerce and retail businesses that provide tools used for running a business. The toolkit covers subscriptions to invoices and online payments and is built with the capability to meet the rapidly evolving needs of today’s fast-growing businesses, from small startups to large enterprises.

LipaLater

Seed Round in 2022
LipaLater is a lending marketplace that provides postpaid payments at e-commerce stores.

SeamlessHR

Series A in 2022
SeamlessHR is building Africa’s first enterprise-grade, cloud-based HR platform. SeamlessHR’s end-to-end suite helps medium to large-sized companies automate and optimise their entire HR process from recruitment to retirement. SeamlessHR also offers organisations with embedded finance solutions to provide financial security for employers and employees. The SeamlessHR product suite includes a Recruitment Management System, HRIS, Performance and Competency Management, Payroll Management, Leave Management, HR Analytics and several other modules.

Rhaeos

Seed Round in 2021
Rhaeos, the world's first wearable shunt monitor, aims to improve the quality of care for patients with hydrocephalus through a novel, thermal biosensor. Developed within Northwestern University with collaboration between Dr. John Rogers, McCormick School of Engineering, Feinberg School of Medicine, and Kellogg School of Management, Rhaeos represents a unique multidisciplinary translational effort for an important clinical need.

INOVUES

Venture Round in 2021
INOVUES provides the only technology that enables building facades and windows to be retrofitted with the latest energy-saving and smart glass innovations without removal or replacement. As the sole provider of renewable glazing retrofit platforms, INOVUES offers building owners high-ROI low-carbon solutions to save up to 40% on energy consumption, improve indoor thermal and acoustic comfort, and increase the value and sustainability of the buildings. For more information, visit inovues.com.

Vibra

Seed Round in 2021
Vibra is an online crypto-currency application that specializes in investments, blockchain, and funding services.

Autochek

Seed Round in 2021
Autochek is an automotive technology company that aims to build digital solutions.

Mono

Series A in 2021
Mono is a financial data infrastructure company based in Nigeria, founded in 2020. It develops an application programming interface (API) platform that enables digital businesses in Africa to access customers' financial and identity data. Mono's services include generating bank statements, verifying account details, initiating payments, and conducting credit checks. The company serves a diverse range of clients, including fintech firms such as Carbon, Flutterwave, Indicina, and Renmoney, as well as various developers. Through its innovative platform, Mono aims to enhance financial accessibility and streamline transactions for businesses across the continent.

Ejara

Seed Round in 2021
Ejara is an app for Africa and its diasporas to access various investment offers fractional shares, commodities, cryptocurrency, and more.

Pngme

Series A in 2021
Pngme, they believe everyone deserves equal access to finance. Their platform enables this by making the process of collecting, analyzing, and using financial data by financial institutions frictionless and simple. Banks, Fintechs, and Credit Bureaus use our platform to create innovative financial products for un/underserved people. Their platform enables one-click data sharing, real-time insights, and credit scoring. Pngme is on a mission to give ownership of data back to people, thereby giving equal access to finance and enabling wealth creation for billions of people.

Mono

Seed Round in 2021
Mono is a financial data infrastructure company based in Nigeria, founded in 2020. It develops an application programming interface (API) platform that enables digital businesses in Africa to access customers' financial and identity data. Mono's services include generating bank statements, verifying account details, initiating payments, and conducting credit checks. The company serves a diverse range of clients, including fintech firms such as Carbon, Flutterwave, Indicina, and Renmoney, as well as various developers. Through its innovative platform, Mono aims to enhance financial accessibility and streamline transactions for businesses across the continent.

Appzone Group

Series A in 2021
With a team of over 170 professionals and clients in seven countries, Appzone is Africa’s leading FinTech disruptor and provider of home-grown software solutions for the continent’s Financial Services industry. Founded in 2008, we process over $2 billion in transactions annually serving 18 commercial banks and over 450 microfinance institutions across the continent. Our platforms issue 1.5 million cards and disburse over $300 million in loans monthly, while also managing $200 million in deposits, 10 million accounts and 100,000 transactions daily. We are audacious builders with a mission to completely automate financial services in Africa. Our offerings automate Banking operations, interconnect financial institutions, and provide end-users with access to a broad range of banking and payment services. We are working with the most talented individuals on the continent to create the de facto operating system for digital financial services in Africa. AppZone started off primarily developing custom software for leading commercial Banks in Nigeria. More than a decade later, we have accumulated a remarkable asset-base of intellectual property and built out significant Fintech infrastructure. We are licensed by the Central Bank of Nigeria as a Payment Solution Service Provider (PSSP) and have built the first and only EMV compliant card management system in sub-Saharan Africa, while also launching the continent’s first self-service platform for instant debit card issuance. Appzone’s other feats include building and launching a number of global firsts from Africa such as: Cloud-based core banking and digital channel software Global mandate platform for direct debit Decentralised Interbank transaction processing on blockchain We are regarded as Africa’s number 1 FinTech infrastructure provider and have won several awards including: PCI DSS, CEBIH Award, MWOT Innovators Award, Frost and Sullivan Award and the NAMB Award.

INOVUES

Seed Round in 2021
INOVUES provides the only technology that enables building facades and windows to be retrofitted with the latest energy-saving and smart glass innovations without removal or replacement. As the sole provider of renewable glazing retrofit platforms, INOVUES offers building owners high-ROI low-carbon solutions to save up to 40% on energy consumption, improve indoor thermal and acoustic comfort, and increase the value and sustainability of the buildings. For more information, visit inovues.com.

LipaLater

Venture Round in 2021
LipaLater is a lending marketplace that provides postpaid payments at e-commerce stores.

Kountable Inc.

Series A in 2021
Kountable is a global trade and technology platform that delivers trust, transparency and auditability with data-driven insights and real-time information from transactions where small and medium-sized enterprises (SMEs) work with enterprise level suppliers and buyers. Its secure, cloud-based technology facilitates business between qualified SMEs and multinational suppliers in order to efficiently complete large scale projects for governments, NGOs and corporates. SMEs play a vital role in procurement in developing countries and their efficient integration into value chains at scale is essential to building infrastructure and bringing innovation in healthcare, education, telecoms and energy to these markets. Every trade that happens on Kountable's platform contributes to the UN Sustainable Development Goals as well as being good business. Launched in 2015, Kountable's global presence currently includes offices in San Francisco, Nairobi, Kigali and The Hague.

Autochek

Pre Seed Round in 2020
Autochek is an automotive technology company that aims to build digital solutions.

SeamlessHR

Seed Round in 2020
SeamlessHR is building Africa’s first enterprise-grade, cloud-based HR platform. SeamlessHR’s end-to-end suite helps medium to large-sized companies automate and optimise their entire HR process from recruitment to retirement. SeamlessHR also offers organisations with embedded finance solutions to provide financial security for employers and employees. The SeamlessHR product suite includes a Recruitment Management System, HRIS, Performance and Competency Management, Payroll Management, Leave Management, HR Analytics and several other modules.

Mono

Pre Seed Round in 2020
Mono is a financial data infrastructure company based in Nigeria, founded in 2020. It develops an application programming interface (API) platform that enables digital businesses in Africa to access customers' financial and identity data. Mono's services include generating bank statements, verifying account details, initiating payments, and conducting credit checks. The company serves a diverse range of clients, including fintech firms such as Carbon, Flutterwave, Indicina, and Renmoney, as well as various developers. Through its innovative platform, Mono aims to enhance financial accessibility and streamline transactions for businesses across the continent.

CNote

Seed Round in 2020
CNote is an investment platform that earns a better return while investing in the causes and communities that matters. CNote rewards great savers with alternative financial vehicles that earn more - safely and simply. Their first product, CNote Savings, helps good savers earn up to 2.5% annual return -- that's 35x more than a traditional savings account. The was founded in 2016 by two women with decades of experience working in finance, venture capital, and private equity. CNote is headquartered in Oakland, California.

Pngme

Seed Round in 2020
Pngme, they believe everyone deserves equal access to finance. Their platform enables this by making the process of collecting, analyzing, and using financial data by financial institutions frictionless and simple. Banks, Fintechs, and Credit Bureaus use our platform to create innovative financial products for un/underserved people. Their platform enables one-click data sharing, real-time insights, and credit scoring. Pngme is on a mission to give ownership of data back to people, thereby giving equal access to finance and enabling wealth creation for billions of people.

SeamlessHR

Seed Round in 2020
SeamlessHR is building Africa’s first enterprise-grade, cloud-based HR platform. SeamlessHR’s end-to-end suite helps medium to large-sized companies automate and optimise their entire HR process from recruitment to retirement. SeamlessHR also offers organisations with embedded finance solutions to provide financial security for employers and employees. The SeamlessHR product suite includes a Recruitment Management System, HRIS, Performance and Competency Management, Payroll Management, Leave Management, HR Analytics and several other modules.

Atlas Energy Systems

Seed Round in 2019
Atlas Energy Systems is an energy technology company commercializing the direct heat-to-energy science of Thermionics. The technology is called a thermionic energy converter and it directly converts heat to electricity with no moving parts. The company developing solid-state energy converters for waste heat power production, concentrated solar, and advanced nuclear reactors. Atlas Energy Systems pursuing a patent-pending direct energy conversion system that uses high-grade heat to boil electrons from a material via thermionic emission. These boiled-off electrons are collected across a small gap, then used to generate electricity. They using modern materials, new simulation software, and advanced manufacturing techniques to bring a 50-year-old technology into the 21st century. Atlas Energy Systems was founded in 2013 and is headquartered in Romeoville, Illinois, USA.

Tivic Health

Seed Round in 2019
Tivic Health is a bioelectronic therapeutics company. The company translates neuroscience into consumer-friendly medical devices, expanding the role of bioelectronic therapies in the healthcare ecosystem. Their first innovation, ClearUP™ Sinus Pain Relief, delivers temporary relief of sinus pain. It’s a small handheld device that’s easy to use, reusable, and clinically proven. The company received FDA Clearance on January 2, 2019, and will be shipping the product in September 2019.

Workstyle Africa

Seed Round in 2019
Located in the heart of Westlands in Nairobi, Workstyle Africa supports start-ups and fully fledged businesses by providing conducive office space. From executive coworking space to dedicated desks; virtual office services to meeting and boardrooms, they have got you covered.

Lynk Jobs

Venture Round in 2019
Lynk solves the problems faced by informal workers and the households and businesses seeking their services. Lynk’s digital platform connects informal workers with customers who require services such as housekeeping, plumbing, electrical work and carpentry. Lynk’s systems enable the effective recruitment of workers, smart matching of the workers to jobs and a customer rating system that helps workers to build the skills profile.

SparkMeter

Seed Round in 2018
SparkMeter offers grid-management solutions that enable underserved markets to access electricity. Its platform helps utilities to provide reliable power to their customers, increase electricity access, and invest in renewable energy and energy efficiency in their systems, enabling rural areas to access sustainable power distribution.

Appzone Group

Seed Round in 2018
With a team of over 170 professionals and clients in seven countries, Appzone is Africa’s leading FinTech disruptor and provider of home-grown software solutions for the continent’s Financial Services industry. Founded in 2008, we process over $2 billion in transactions annually serving 18 commercial banks and over 450 microfinance institutions across the continent. Our platforms issue 1.5 million cards and disburse over $300 million in loans monthly, while also managing $200 million in deposits, 10 million accounts and 100,000 transactions daily. We are audacious builders with a mission to completely automate financial services in Africa. Our offerings automate Banking operations, interconnect financial institutions, and provide end-users with access to a broad range of banking and payment services. We are working with the most talented individuals on the continent to create the de facto operating system for digital financial services in Africa. AppZone started off primarily developing custom software for leading commercial Banks in Nigeria. More than a decade later, we have accumulated a remarkable asset-base of intellectual property and built out significant Fintech infrastructure. We are licensed by the Central Bank of Nigeria as a Payment Solution Service Provider (PSSP) and have built the first and only EMV compliant card management system in sub-Saharan Africa, while also launching the continent’s first self-service platform for instant debit card issuance. Appzone’s other feats include building and launching a number of global firsts from Africa such as: Cloud-based core banking and digital channel software Global mandate platform for direct debit Decentralised Interbank transaction processing on blockchain We are regarded as Africa’s number 1 FinTech infrastructure provider and have won several awards including: PCI DSS, CEBIH Award, MWOT Innovators Award, Frost and Sullivan Award and the NAMB Award.

Asoko Insight

Series A in 2018
Asoko Insight is Africa’s leading corporate information platform, providing market mapping solutions to investment firms, banks, corporates and governments looking for research on Africa’s key private sector landscapes. Users can access industry reports, supply chain analyses, and a database of companies to help with origination, business development and due diligence. The company's local research analysts, based out of several regional offices, work with executives and data partners to monitor corporate data from key companies in the region. As Asoko consolidates their footprint in the largest economies, they are also expanding data collection operations to surrounding countries across the continent.

Medsaf

Seed Round in 2018
Medsaf is an end to end pharmaceutical platform enabling hospitals, pharmacies and patients to access affordable, and quality medications just in time. Medsaf has built a suite of technologies aimed at increasing efficiency, safety and transparency in pharmaceutical supply, including blockchain backed track and trace solutions, marketplace, and financing options. Medsaf provides "quality control as a service" and connects users to aggregated and vetted suppliers, logistics providers and other support for health care providers. Medsaf created an embedded finance platform offering BNPL solutions for medication procurement from suppliers to patients.

NGX Bio

Venture Round in 2017
NGX Bio is an online marketplace platform for online DNA sequencing services. They make sequencing simple by connecting their customers to world-class genomic resources helping researchers complete sequencing projects in a single transaction. It streamlines the projects and makes them cost-effective by sourcing the best providers with available capacity. NGX Bio offers design and planning, sample preparation, sequencing facilities, and data analysis services. The company also operates an online project management tool that helps in sample tracking by using barcoded tubes and plates. NGX Bio serves customers worldwide.

Lynk Jobs

Seed Round in 2017
Lynk solves the problems faced by informal workers and the households and businesses seeking their services. Lynk’s digital platform connects informal workers with customers who require services such as housekeeping, plumbing, electrical work and carpentry. Lynk’s systems enable the effective recruitment of workers, smart matching of the workers to jobs and a customer rating system that helps workers to build the skills profile.

KOKO Networks

Seed Round in 2017
KOKO Networks is an international venture-backed technology company with offices in East Africa and India. KOKO provides a platform for smart commerce in urban Africa. Our unique suite of technologies connects suppliers, retailers, and customers, enabling delivery of a range of consumer and business solutions that improve life in Africa’s cities.

4G Capital

Seed Round in 2016
4G Capital has supported micro-enterprises in Africa since 2013, providing financial literacy training with working capital loans to help small businesses grow sustainably. 4G Capital clients receive a bespoke programme of business training to help them use micro-loans to achieve much higher take-home earnings. 4G Capital’s proprietorial machine learning technology delivers high fidelity insights from traditionally data dark sectors. We design scalable credit products and services optimized for clients’ business risks, timescales and affordability. Training is delivered via mobile apps and face-to-face outreach. Using only mobile money, loans are accessed in under two minutes with either smart or feature phones. 4G Capital directly addresses the Finance Gap across Africa. This stands at over $19 billion for Micro and SMEs in Kenya alone (source: IFC), even though this important segment accounts for over 30% of GDP. It is almost impossible for these companies to access credit without high collateral and data requirements. Over 30% of small businesses fail due to lack of funding. 4G Capital consistently achieves very high collections rates without collateral or refinancing its clients, by only lending to viable businesses on terms that are right for them. 4G Capital is on target to positively impact over 1 million people by 2020. With operations in Kenya and Uganda, and having received multiple industry awards, 4G Capital is now scaling across the continent and expanding its suite of products and services as Africa’s Fastest Fintech. Key achievements to date: · >94% collection rates without refinancing clients · Net Promoter Score 72 · Clients increase revenues by average 82% · 81% Women Customers · 82% Repeat Customers · 77% Rural Clients · 94% Increased financial literacy · $32M worth of loans to date · >50 locations in Kenya and expanding in Uganda and beyond · Partnership retail credit service plugs in to distributor systems to boost value chain sales

Asoko Insight

Seed Round in 2015
Asoko Insight is Africa’s leading corporate information platform, providing market mapping solutions to investment firms, banks, corporates and governments looking for research on Africa’s key private sector landscapes. Users can access industry reports, supply chain analyses, and a database of companies to help with origination, business development and due diligence. The company's local research analysts, based out of several regional offices, work with executives and data partners to monitor corporate data from key companies in the region. As Asoko consolidates their footprint in the largest economies, they are also expanding data collection operations to surrounding countries across the continent.

Asoko Insight

Seed Round in 2015
Asoko Insight is Africa’s leading corporate information platform, providing market mapping solutions to investment firms, banks, corporates and governments looking for research on Africa’s key private sector landscapes. Users can access industry reports, supply chain analyses, and a database of companies to help with origination, business development and due diligence. The company's local research analysts, based out of several regional offices, work with executives and data partners to monitor corporate data from key companies in the region. As Asoko consolidates their footprint in the largest economies, they are also expanding data collection operations to surrounding countries across the continent.

Once Innovations

Series A in 2013
Once Innovations is a privately held corporation that manufactures highly differentiated LED lighting using a visionary approach to research and product development - from unique designs with proprietary technologies through final production and distribution. ONCE was founded in 2008 by current CTO, Zdenko Grajcar considered a pioneering rebel in LED technology for his remarkably unconventional thinking and relentless challenge to the industry status quo. The ONCE technology research, marketing, and product development campus is located in Plymouth, MN United States of America.
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