First Circle
Venture capitalActively deployingCasablanca · Pre-Seed–Seed · 21 people tracked
Also known as First Circle Africa
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 · 21 people
from the firm's website & public directories
Founder mafia
5 people who came through First Circle went on to found or lead other companies.
What they invest in
from 24 of 35 portfolio companiesFintech ×20SaaS ×12AI & Machine Learning ×4Enterprise Software ×3B2B Marketplaces ×2Biotech ×2E-commerce ×2Healthtech ×2
HQs:Nigeria×6South Africa×4Egypt×3United States×2Ghana×1Kenya×1
Investments · 35 tracked
founders shown can be your intro pathBalad 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
Co-investorsAcasia VenturesCairo Angels Syndicate Fund
Making it easier for Africans to ship & receive products
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 Combinator
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
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 Combinator
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
Co-investorsDaphniEvolution Ventures468 CapitalBlockchain Founders Fund
Archem Diagnostics produces analyzer-specific, barcoded biochemistry reagents supplied in original vials for automated clinical chemistry analyzers.
BiotechHealthtechMedical Devices
Kashier is a digital payment platform that lets businesses accept online payments through tools such as e-invoicing, payment links, e-commerce integrations (SDKs/APIs), subscriptions, POS, and installments.
E-commerceFintechSaaSCairo, EG
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 CapitalTechstarsY Combinator+1 more
Co-investorsEnza CapitalP1 Ventures
Octamile provides digital insurance management infrastructure and embedded insurance APIs that let insurers, fintechs, logistics firms, and other B2C platforms distribute insurance, automate claims (including First Notification of Loss, remote inspections, and fraud detection), and onboard agents and clients with KYC.
FintechInsurTechSaaS
Co-investorsVelocity DigitalEchoVC Partners
Opareta provides software to automate commercial operations across agent networks, offering tools for float and cash liquidity management, real-time performance analytics, digital KYC, and fraud monitoring.
AI & Machine LearningFintechSaaS
Co-investorsThe Raba PartnershipMusha VenturesThe Fintech Fund
Orca Fraud provides real-time transaction monitoring and AI-based anomaly detection that integrates directly into payment flows for banks and fintechs, covering onboarding, transaction authorisation, merchant monitoring and case workflows.
AI & Machine LearningCybersecurityFintechCape Town, ZA
Thalia Pillay(CEO)
Co-investorsCV VCEnza CapitalMusha Ventures
FintechMiddletown, US
Mejero Emmanuella K.(Founder)in
Co-investorsMicrotractionTechstars
Pumpkn (AG-Digital Ventures (Pty) Ltd) is a South African non-bank, NCR-registered lender providing short-term working capital of up to R5 million to established food and agricultural SMEs.
AgTechFintechFoodTech
Co-investorsAcasia Ventures
Innovative asset-backed financing solution
Talk360 is a mobile calling app and payment infrastructure platform focused on Africa.
B2B MarketplacesFintechSaaSSouth Africa, ZA
Dean
Co-investors4Di CapitalE4E AfricaHAVAICKalon Venture Partners
Terminal Africa is a shipping and logistics aggregator that connects users to 20+ local and international delivery partners through a web app, mobile app, and shipping API (T-Ship).
E-commerceLogistics & Supply ChainSaaS
Co-investorsCathexis VenturesThe Baobab NetworkDFS Lab
Thunders provides AI agents that generate, run, and maintain software test suites from plain-language descriptions, removing the need for manual scripting and selector maintenance.
AI & Machine LearningDeveloper ToolsSaaS
Co-investorsSilicon Badia
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
Co-investorsConsonance Investment ManagersDigital Currency GroupMetis CapitalVentures Platform
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
Co-investorsCV VCDigital Currency GroupEnza CapitalIncisive VenturesTLcom CapitalDFS Lab
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)Ebenezer Ajayi(Co-founder, COO)
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-investorsLoftyInc CapitalUM6P Ventures
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)
Co-investorsLoftyInc CapitalY Combinator
Power is a digital financial wellness platform that integrates with payroll to offer workers salary advances, savings, loans, insurance and financial planning tools via mobile app, USSD and a web portal for HR/admin.
FintechHR TechImpact & Social Good
Co-investorsQuona Capital
Portfolio news
latest coverage across their companiesTalk360 · disruptafrica.com · Feb 12, 2026
Dayra · biospace.com · Nov 24, 2025
Frequently asked questions
- How many investments has First Circle made?
- First Circle has 35 tracked investments.
- 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, Y Combinator, Digital Currency Group, among 42 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
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