Fundraising Fox
First Circle
Venture capitalActively deployingCasablanca · Pre-Seed–Seed · 22 people tracked
Find your way into First Circle
Each arrow is one introduction. Sign up to fill in the first one.
Ask Omar Darwazah to introduce you to Seif Amr
You →Omar · together at Thndr →Seif
Ask Jamie Chen to introduce you to Mejero Kunu
You →Jamie · together at Techstars New York City Accelerator 2023 →Mejero
Ask Sam Okafor to introduce you to Seun Ojo
You →Sam · together at L5Lab →Seun
- Dare Okoudjou1,197 people can intro you
- Rob Smith878 people can intro you
- Emeka Ajene604 people can intro you
Sign up to find every way you can get introduced to First Circle
- Your email: who you already know at First Circle, and who your contacts know
- 2nd- and 3rd-degree connections: people you know who worked, studied or invested with the First Circle team
- Your LinkedIn: the connections who can make the intro for you
We rank every route by how warm it is, so you raise on warm intros instead of cold emails.
Investment thesis
First Circle backs fintech founders working to shape the financial future of Africa. Positioning itself as a fund built by founders for founders, its team is composed of seasoned operators, investors and advisors. The firm concentrates on supporting Africa's next generation of fintech companies, providing capital and guidance to entrepreneurs pursuing financial innovation across the continent.
Source: firm website, verified Aug 7, 2026.
Team · 22 people
from the firm's website & curated & public directories
Founder mafia
The First Circle mafia →7 people who came through First Circle went on to found or lead other companies.
What they invest in
from 25 of 33 portfolio companiesFintech ×21SaaS ×12AI & Machine Learning ×4Enterprise Software ×4B2B Marketplaces ×3Biotech ×2E-commerce ×2Healthtech ×2
HQs:Nigeria×6South Africa×6Egypt×4United States×2France×1Ghana×1
Who they back
founder profiles across 19 portfolio companiesFounding team size:solo founder×132 founders×44+ founders×2
Where their founders studiedfrom 24 founders with education data
INSA Toulouse - Institut National des Sciences Appliquées de Toulouse ×3University of Benin ×3Olabisi Onabanjo University(O.O.U) ×2
What their founders studiedfrom 25 founders with field-of-study data
Engineering ×10Computer Science ×8Business & Management ×5Economics ×3Finance & Accounting ×3Life Sciences ×2Mathematics & Statistics ×2
Where their founders worked beforefrom 25 founders with career history
Glep ×3Microsoft ×3ogaVenue ×3The OGA Brand Inc - OGA Hotels ×3Ashesi University ×2Expensya ×2Flutterwave ×2Lenco (YC W22) ×2
Accelerator rootsportfolio companies that came through a program
1 founders hold a PhD · 4 hold an MBA (of 27 with degree data)
Investments · 33 tracked
founders shown can be your intro path
Balad provides a single licensed REST API for sending payouts to Egypt, delivering funds via all CBE-licensed banks, mobile wallets, and cash-pickup locations.
FintechSaaS
Adham Azzam(Founder)in
Co-investors500 GlobalAcasia VenturesCairo Angels Syndicate FundFuture AfricaLaunch Africa VenturesMAGIC Fund
All-in-one platform offering African importers invoice financing, cross-border payments and end-to-end logistics.
Daniel Kagame Ndahiro(Founder)in
Co-investorsBEENEXTDEEPCORE Inc.
Credpal operates a financial platform that integrates payments, savings, credit, and investments for individuals in Africa.
FintechLagos, NG
Mofehintolu Olaogun(Founder)in
Co-investorsAcasia VenturesCairo Angels Syndicate FundMAVA VenturesStacked CapitalY CombinatorAgrolimen Ventures+5 more
Credrails provides a financial data aggregation and reconciliation platform that integrates data from multiple sources and formats to give finance teams real-time cash balance visibility, automated audit trails, and consolidated statements.
Data & InfrastructureEnterprise SoftwareFintechSaaS
Co-investorsAcasia VenturesCairo Angels Syndicate FundNorrsken22Samos InvestmentsSoftBank Investment Advisers’ Emerge ProgramUnicorn Growth Ventures+2 more
Dayra provides APIs that enable Egyptian businesses to offer loans and financial accounts to their workers and customers.
FintechCairo, EG
Omar Ekram(Founder)in
Co-investorsVentureSouqY CombinatorFox VenturesSV Pacific Ventures
Flow48 provides Revenue Based Financing and Invoice Financing to South African SMEs, letting businesses access working capital against future revenue or unpaid invoices without collateral or equity dilution.
FintechSaaS
Idriss Al Rifai(Founder)in
Co-investorsDaphniEvolution Ventures212468 CapitalBlockchain Founders FundBreega+4 more
Nigerian insurtech offering device protection plans and repair support for phones, tablets, laptops and desktops.
Infius Health manufactures in-vitro diagnostic kits that automate manual medical testing procedures.
BiotechDigital HealthHealthtechMedical Devices
Kashier is a digital payment platform that lets businesses accept online payments from customers and partners through tools such as payment links, e-invoicing, e-commerce integrations, QR code payments, and subscriptions.
E-commerceFintechSaaSCairo, EG
Khaled Raslan(Founder)in
Co-investorsCapria VenturesDigital Currency GroupLateral CapitalSawari VenturesThe Fintech Fund
Lenco provides multi-currency banking services to African businesses, enabling them to manage vendor payments, cross-border transactions, and access financing.
FintechLagos, NG
Andrew Airelobhegbe(Founder)inImpact Airelobhegbe(Founder)inGodstime Asine(Founder)inPraise Osagie(Founder)in
Co-investorsDG Daiwa VenturesFlucas VenturesKube VCLoftyInc CapitalPioneerSoma Capital+3 more
MNZL offers a mobile digital wallet in Egypt that lets people register assets such as real estate or vehicles and borrow against them, providing asset-backed consumer and mortgage financing.
FintechImpact & Social GoodPropTech
Sameh Saleh
Co-investors500 GlobalEnza CapitalIngressive CapitalLocalGlobeP1 Ventures
myStash is a wealth management and savings platform that helps young adults automatically build emergency funds and monitor, manage, and grow their money.
ConsumerFintechLagos, NG
Onyinye Stephanie Oguego(Founder)in
Octamile provides embedded insurance APIs that enable non-insurance companies, including ecommerce platforms, fintech apps, and logistics services in Africa, to bundle customizable insurance solutions into their products and services.
FintechInsurTechSaaSLagos, NG
Co-investorsVelocity DigitalEchoVC PartnersFiat Ventures
oola Chat is a SaaS platform that unifies a business's messaging channels into one inbox with analytics and chatbots.
Opareta builds mobile infrastructure that helps mobile money agents digitize their operations while providing data analytics and working capital access to support business growth.
AI & Machine LearningFintechSaaS
Michael Schwartz(Founder)inRaymond Besiga(Founder)in
Co-investorsThe Raba PartnershipMusha VenturesThe Fintech Fund
Orca provides an AI-powered fraud orchestration platform designed to detect and prevent digital fraud in traditional and decentralised financial systems, with a focus on emerging markets in Africa.
AI & Machine LearningCybersecurityFintechCape Town, ZA
Thalia Pillay(CEO)Carla
Co-investorsNorrsken22CV VCEnza CapitalMusha Ventures
Nigerian fintech offering credit financing, wallets and business management tools to small and micro businesses.
FintechMiddletown, US
Mejero Emmanuella K.(Founder)in
Co-investorsMicrotractionTechstars
Pumpkn offers working capital financing to established South African farms and agribusinesses engaged in horticulture, produce aggregation, and light processing.
AgTechFintechFoodTechSouth Africa, ZA
Zaheer Dindar(Founder)in
Co-investorsAcasia VenturesCairo Angels Syndicate FundRenew Capital
Talk360 is a mobile calling app and payment infrastructure platform focused on Africa.
B2B MarketplacesFintechSaaSSouth Africa, ZA
Co-investors4Di CapitalE4E AfricaHAVAICKalon Venture PartnersEQT Ventures
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 VenturesDFS Lab FrontierThe Baobab NetworkDFS LabGolden Ventures+2 more
Thunders builds AI-powered software testing tools designed to reduce manual testing work and accelerate development cycles for QA teams and developers.
AI & Machine LearningDeveloper ToolsSaaSParis, FR
Co-investorsSilicon BadiaJANNGO Capital
Traction is a payments and business management platform offering point-of-sale terminals and software tools for merchants to accept payments, manage inventory, send invoices, and access CRM functionality.
Enterprise SoftwareFintechSaaSLagos, NG
'Mayowa Alli(Founder)in
Co-investorsConsonance Investment ManagersDigital Currency GroupVentures PlatformMetis Capital
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 VCDFS Lab FrontierDigital Currency GroupEnza CapitalIncisive VenturesTLcom Capital+1 more
Klump is a Nigerian buy now, pay later platform offering installment checkout and in-store loans to consumers and merchants.
VeendHQ provides on-demand access to credit for individuals and businesses with verifiable income in Nigeria and Africa.
Enterprise SoftwareFintechSaaSSheridan, US
Olufemi Olanipekun(Founder, CEO)inEbenezer Ajayi(Co-founder, COO)in
Co-investorsTechstarsFuture Africa
Wafr offers a mobile app for merchants (shopkeepers/grocers) in Morocco that provides discounts on mobile phone top-ups from operators Maroc Telecom, Orange, and Inwi, and lets merchants receive funds directly from customers via a code.
FintechRetail Tech
Co-investorsDigital AfricaLoftyInc CapitalUM6P VenturesAl Mada VenturesAttijariwafa Ventures
WiASSUR is an Abidjan-based digital insurance broker distributing auto, health, life, travel and home policies in Africa.
Co-investorsChui VenturesMicrotraction
Yemaachi creates a diverse cancer bio-database to develop oncology drugs effective across diverse patient populations.
AI & Machine LearningBiotechHealthtechMedical DevicesAccra, GH
Yaw Bediako(Founder)inYaw Attua-Afari(Founder)inDavid Hutchful(Founder)inJoyce Ngoi(Founder)in
Co-investorsLoftyInc CapitalY CombinatorAsia Africa Investment & Consulting (AAIC)Point Reyes ManagementVillage Seed Ventures LimitedCardinalStone Partners+3 more
Power is a digital financial wellness platform that provides integrated workplace banking services to workers across Africa, enabling payroll-linked access to cash flow management, savings, affordable credit, and insurance protection.
Enterprise SoftwareFintechHR TechImpact & Social GoodNairobi, KE
Brian Dempsey(Co-founder and CEO)inChandra Singh(Co-founder and CTO)
Co-investorsQuona Capital
Other
Tracked investments with no reachable website or further public details — typically companies that wound down, renamed, or were absorbed.
E Doconline.CoE-Doc OnlinePower
Frequently asked questions
- How many investments has First Circle made?
- First Circle has 33 tracked investments, 1 of which have exited.
- What stage does First Circle invest at?
- First Circle invests at the Pre-Seed, Seed stages.
- What is First Circle's typical check size?
- First Circle typically writes checks of $100K – $250K.
- What sectors does First Circle focus on?
- First Circle focuses on Fintech, Healthtech, InsurTech, Logistics & Supply Chain, SaaS.
- Where is First Circle located?
- First Circle is headquartered in Casablanca, MA.
- Does First Circle lead rounds?
- First Circle typically participates in rounds rather than leading them.
- Who does First Circle co-invest with?
- First Circle most often shares deals with Acasia Ventures, Cairo Angels Syndicate Fund, Y Combinator, among 54 tracked co-investors.
Media · Podcasts & interviews
featuring the teamSelma Ribica from First Circle Capital on seeding the next Fintech generation in Africa
Life Self Mastery · Selma Ribica
Similar investors
Fly Ventures is an early-stage venture firm that backs founders at the zero-to-one stage, with portfolio companies going on to raise substantial follow-on funding from top US and European VCs.
Kindred Ventures is an early-stage venture capital firm based in San Francisco that backs visionary founders building the future through technology and science.
MGV is an early-stage venture capital firm that invests across sectors including AI, insurance/fintech, healthcare, HR, sales & marketing, and infrastructure, backing startups primarily in the United States.
Underscore VC is a Boston-based venture capital firm that backs B2B software entrepreneurs at the pre-seed and seed stages, using an 'open-source' investing model that profit-shares with experts in its Core Community.
Monashees is a Latin American venture capital firm backing technology-driven founders building category-defining companies from the region for global markets.