Fundraising FoxDFS Lab Frontier
Venture capitalPre-Seed–Seed · 12 people tracked
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Investment thesis
DFS invests at the intersection of AI and industrialization in Africa, backing companies that build intelligent infrastructure on top of the continent's existing digital payment, mobile, and connectivity rails. Its focus spans four areas: Money (AI-native infrastructure for fragmented payment corridors, FX liquidity, stablecoins, and settlement), Work (AI-enabled enterprise software and workforce infrastructure for African firms), Land (physical intelligence to monitor and coordinate terrain, resources, and logistics), and Energy (intelligent energy infrastructure). The firm invests early at pre-seed and seed, goes deep with companies for the long term, and grounds its work in research on frontier markets and technology adoption.
Source: firm website, verified Oct 2, 2026.
Team · 12 people
from the firm's websiteWhat they invest in
from 34 of 39 portfolio companiesFintech ×20SaaS ×12AI & Machine Learning ×8B2B Marketplaces ×7E-commerce ×7Enterprise Software ×6Logistics & Supply Chain ×6Consumer ×5
HQs:Nigeria×7United States×5Kenya×4South Africa×2United Arab Emirates×1Ethiopia×1
Who they back
founder profiles across 14 portfolio companiesFounding team size:solo founder×92 founders×23 founders×24+ founders×1
Where their founders studiedfrom 15 founders with education data
Harvard Business School ×2The Wharton School ×2
What their founders studiedfrom 14 founders with field-of-study data
Business & Management ×6Computer Science ×3Engineering ×3Humanities ×2Social Sciences ×2
Accelerator rootsportfolio companies that came through a program
Investments · 39 tracked
founders shown can be your intro pathAirDial is a cloud phone platform for business teams that combines AI voice agents, a parallel dialer, messaging across WhatsApp/SMS/web chat, phone numbers, and call analytics on shared numbers and a single dashboard.
AI & Machine LearningSaaSSales Tech
Akiba Digital offers a suite of APIs with low-code integration that connects to over 100 datasets, providing identity verification (KYB/KYC), bank account verification, AML/PEP screening, risk scoring, financial insights, and open banking data.
CybersecurityData & InfrastructureFintechSaaS
Co-investorsAlumni VenturesBasecamp FundExpert DOJOFirstCheck AfricaFlori VenturesFuture Africa+4 more
Ando operates a food delivery platform (Ando OS) that connects food businesses, couriers, and customers, managing orders, last-mile delivery, and rider route optimization.
FoodTechLogistics & Supply ChainSaaS
Co-investors4DX VenturesChui VenturesLoftyInc CapitalDFS LabEchoVC Partners
Boost is a B2B commerce platform for Africa's informal convenience economy, offering WhatsApp-based ordering, fulfilment and payment tools, plus stock financing for manufacturers, distributors and retailers.
B2B MarketplacesE-commerceFintech
Co-investorsMercy Corps VenturesDFS Lab
Borderless provides infrastructure for cross-border capital orchestration, giving project organizers tools to onboard investors and manage accreditation, membership, funds, reporting, and deal-sharing.
Enterprise SoftwareFintechSaaS
Catlog provides a platform that enables small businesses in Africa to manage social commerce operations, including online catalogs, customer communications, payments, deliveries, and business tracking through WhatsApp and other social channels.
AI & Machine LearningE-commerceFintechMarketing TechMarketplacesSaaSLagos, NG
Co-investorsTechstarsVentures PlatformVelocity DigitalDFS Lab
Checker is a global network enabling financial institutions to integrate stablecoins, digital assets, and cross-border payment capabilities through a single platform.
Crypto & Web3Data & InfrastructureFintech
Jack Chong(CEO)Justin McMahan(COO)Michael Zaczyk(CCO)Nathan Crocker(CTO)
Co-investorsBreedIGNIAOnigiri CapitalPharsalus CapitalDFS Lab
Chow Central operates a delivery-focused food service in Nigeria that serves meals quickly at lower cost than traditional restaurants by operating within concentrated local areas.
ConsumerFoodTechLagos, NG
Tosin Onafuye(Founder)inChristopher Obasi(Founder)inAdeyemi Onafuye(Founder)in
Co-investorsSterling RoadY CombinatorHeirloomHi2 Global Venture FundHoaQVentures Platform
A construction procurement platform that consolidates material sourcing and ordering for contractors and builders.
B2B MarketplacesConstruction TechPropTechSaaSSugarland, US
John Oamen(Chief Executive Officer)inModele Ajayi-Bembe(Chief Operating Officer)inTimi Yorkson Thomas(Chief Financial Officer)
Co-investorsCRE Venture CapitalE3 CapitalLoftyInc CapitalTechstarsTofino CapitalDFS Lab+1 more
Hulugram is a messaging and "super app" built on the Telegram API that combines private chats, communities, and features like real-time chat translation with a marketplace, content feed, music streaming, games, and stories.
ConsumerMarketplacesSocialAddis Ababa, ET
Tabor Shiferaw(Founder)in
HustleSasa operates a platform for managing and scaling live entertainment and sports events across Africa, giving event creators branded storefront URLs to sell tickets directly to fans and offering financial services such as cash advances.
Creator EconomyE-commerceFintechMedia & EntertainmentSports TechNairobi, KE
Co-investorsAntlerGV (Google Ventures)MicrotractionDFS LabMusha Ventures
Logistify is a managed AI service for supply chain teams at manufacturers and distributors, using AI agents with human review to handle sales order entry into ERP systems and purchase order tracking with suppliers.
AI & Machine LearningEnterprise SoftwareLogistics & Supply Chain
Luo builds financial infrastructure that lets businesses in emerging markets send cross-border payments to the rest of the world with more speed, transparency, and reliability.
Enterprise SoftwareFintechParis, FR
Hamza Benkirane(CEO)inMorgan Wirtz(CPO)in
Co-investorsEntrepreneur FirstMaC Venture CapitalProtagonistSamos InvestmentsTranspose Platform ManagementAtreides Management+7 more
Maad is a commerce infrastructure platform for consumer brands, manufacturers, and importers, combining market intelligence, field activation, owned logistics (warehouse and GPS-tracked fleet), consumer engagement, and financial services (retailer credit and incentives) into one integrated system.
AI & Machine LearningB2B MarketplacesLogistics & Supply Chain
Co-investorsAlumni VenturesOui CapitalReflect VenturesVentures PlatformDFS LabLaunch Africa Ventures+2 more
Matta is a digital platform that connects chemical buyers with suppliers, enabling same-day quote requests and price comparisons across a marketplace of over 1,000 chemicals from global sources.
B2B MarketplacesE-commerceLogistics & Supply ChainNew Materials
Co-investorsCRE Venture CapitalOui CapitalTofino CapitalDFS Lab
Munify is a blockchain-powered financial platform enabling individuals and businesses to manage multiple currencies, send money instantly globally, and access stablecoin-backed virtual cards without traditional banking infrastructure.
Crypto & Web3FintechOrlando, US
Khalid Ashmawy(CEO)in
Co-investors1confirmationDigital Currency GroupFund I, a series of Africa FinTech Collective, LPLoftyInc CapitalMaiora Rebel VenturesMyAsiaVC+6 more
NALA operates two payment platforms: one enables consumers to send money across borders to emerging markets, while the other provides stablecoin-based payment infrastructure for businesses in those regions.
FintechNew York City, US
Benjamin Fernandes(Founder)inSam CastleNicolai Eddy(COO)Nico Esteves(CTO)Jerry Chen(Talent Acquisition Manager)Harsimran Cheema(Recruiter)
Co-investorsAcrew CapitalAlumni VenturesAmplo VenturesBessemer Venture PartnersDigital Currency GroupLiquidity Capital+22 more
OnePipe provides an API gateway that aggregates banking and fintech services into a single standardized integration point for fintechs and banks seeking to expand partnerships and reduce integration overhead.
FintechSaaSLagos, NG
Ope Adeoye(Founder & CEO)in
Co-investorsAtlantica VenturesCapria VenturesFund I, a series of Africa FinTech Collective, LPFuture Perfect VenturesIngressive CapitalLoftyInc Capital+9 more
Orda is a mobile ordering platform that lets Square merchants launch branded iOS and Android apps connected to Square POS, with automatic syncing of menus, pricing, and locations.
FoodTechRetail TechSaaS
Pastel is an AI platform offering specialized agents for banking operations such as customer due diligence, fraud detection, AML, screening, and executive insights.
AI & Machine LearningFintechSaaS
PaySika offers virtual and physical international bank cards along with a mobile and web app for managing money, letting users receive payments from platforms like PayPal, YouTube, and online trading/betting sites and pay on international online services.
ConsumerFintech
Roger Nengwe Ntafam(Founder)in
Co-investorsDigital AfricaHoaQLoftyInc CapitalOui Capital
Rima is an AI agent platform for financial reconciliation tasks including bank statements, accounts payable, payroll, intercompany balances, and credit card transactions.
AI & Machine LearningEnterprise SoftwareFintechSaaSAustin, US
Gwanygha’a Gana(Founder)inCedric Foudjet(Founder)inGwanygha'a Gana Cedric Foudjet(Founder)Gwanygha’a Ganain
Co-investorsMobility 54Y CombinatorAsymmetry VenturesCresset CapitalDFS LabFoundersX+9 more
Rivy provides financing for solar energy systems to homeowners, businesses, and solar retailers in Nigeria, enabling affordable access to clean energy through fast approvals and flexible repayment terms.
CleantechClimate TechEnergyFintechMobility & TransportationNigeria, NG
Dami Olawoye(Chief Executive Officer)inChioma Okotcha-Faloughi(Chief Operating Officer)Chioma Okotcha(Founder)inUche Frank Nnadi(Founder)Uche Nnadi(Founder)Zach Bijesse(Founder)in
Co-investorsMercy Corps VenturesTen13Velocity DigitalVentures PlatformAll OnDFS Lab+1 more
Sorbet is a financial technology platform that provides multi-currency accounts (USD, EUR, GBP, AED and more) for global collections and cross-border payroll, offering same-day settlements and FX conversion.
Crypto & Web3FintechSaaS
Co-investorsSeven Capital Ventures
Stable Sea is a financial technology company that provides a compliance layer and onchain infrastructure for corporate treasury, letting companies move between SEC-registered funds, fiat, and payments with T+0 settlement in a single transaction.
Crypto & Web3Enterprise SoftwareFintechSan Francisco, US
Ben Boeser(Founder)inTanner Taddeo(Founder)inTony Tom(Founder)
Co-investorsKindred VenturesLudlow Ventures
Suplias is a business services platform that simplifies business operations across Africa.
B2B MarketplacesEnterprise SoftwareFintechMarketplacesLagos, NG
Sefa Ikyaator(Founder)inStephen IgwueMichael Adesanya
Co-investorsFuture AfricaY CombinatorAsymmetric Capital PartnersAsymmetry VenturesAtacama VenturesChandaria Capital+9 more
Terminal Africa is a logistics platform that connects African businesses to 13+ local and international shipping carriers for global deliveries.
B2B MarketplacesE-commerceLogistics & Supply ChainSaaS
Nnamdi Okoh(Founder)in
Co-investorsBattery VenturesCathexis VenturesFirst CircleThe Baobab NetworkDFS LabGolden Ventures+2 more
Terra Industries designs and manufactures autonomous drone and robotics systems, including surveillance UAVs, ground vehicles, and AI-powered security infrastructure, primarily for protecting critical infrastructure across African nations.
AI & Machine LearningHardwareRobotics
Maxwell Maduka(Founder)Nathan Nwachuku(Founder)
Co-investors8VCSilent CapitalVelocity DigitalBelief CapitalLux CapitalRibbit Capital+3 more
Tnkr is a collaboration platform for open-source robotics and physical-intelligence projects, letting makers document hardware assembly, bills of materials, control software, and training data in one place.
AI & Machine LearningDeveloper ToolsRobotics
TurnStay provides payment processing and global finance infrastructure for African travel businesses, helping them reduce booking fees and transaction costs through a platform offering multiple currency options and lower payment processing rates.
B2B MarketplacesFintechTravel & Hospitality
Alon Stern(Founder)in
Co-investorsCV VCDigital Currency GroupEnza CapitalFirst CircleIncisive VenturesTLcom Capital+1 more
Tushop is an online grocery and essentials delivery service operating in Nairobi that offers express delivery within 90 minutes, standard next-day delivery, and features a marketplace for Kenyan artisanal brands and preloved goods.
ConsumerE-commerceMarketplacesNairobi, KE
Co-investors4DX VenturesBreyer CapitalFirstCheck AfricaChandaria CapitalDFS LabJam Fund
Other
Tracked investments with no reachable website or further public details — typically companies that wound down, renamed, or were absorbed.
500ChowAeonBumpaChip MangoHashrails
Portfolio news
latest coverage across their companiesNALA · fintech.global · May 28, 2026
Rima AI (formerly Garage) · ycombinator.com · May 20, 2026
Terra Industries · techcrunch.com · Feb 16, 2026
Munify · finsmes.com · Sep 2, 2025
Frequently asked questions
- How many investments has DFS Lab Frontier made?
- DFS Lab Frontier has 39 tracked investments.
- What stage does DFS Lab Frontier invest at?
- DFS Lab Frontier invests at the Pre-Seed, Seed stages.
- What sectors does DFS Lab Frontier focus on?
- DFS Lab Frontier focuses on AI & Machine Learning, B2B Marketplaces, Construction Tech, Consumer, Crypto & Web3, Defense Tech, E-commerce, Energy, Enterprise Software, Fintech, FoodTech, Logistics & Supply Chain, Marketplaces, Robotics, Semiconductors.
- Who does DFS Lab Frontier co-invest with?
- DFS Lab Frontier most often shares deals with LoftyInc Capital, Oui Capital, Techstars, among 71 tracked co-investors.
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