Founders Factory Africa has secured an additional US$114 million in funding from Mastercard Foundation and Johnson & Johnson to scale its model to better serve founders across the African tech ecosystem. The additional US$114 million in funding support from the Mastercard Foundation and Johnson & Johnson Impact Ventures, an impact fund within the Johnson & Johnson Foundation, will enable Founders Factory Africa to scale its model and better serve technology-led startups and founders across the African continent. “We are excited to have new and dynamic funding, which follows on from previous investments into Founders Factory Africa by Standard Bank Group, Small Foundation and Netcare Group,” said Alina Truhina, co-founder of Founders Factory Africa. Since its inception, Founders Factory Africa has catalysed the trajectory of over 55 tech startups across the continent. “Come build with us,” said Founders Factory Africa CEO, Bongani Sithole.

Source: The North Africa Journal August 15, 2023 06:25 UTC