Fundraising FoxReflect Ventures
Venture capitalActively deployingMenlo Park · Pre-Seed–Series A · 11 people tracked
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Investment thesis
Reflect Ventures invests through funds and syndicates in B2B and B2B2C companies operating in emerging markets. Its focus areas include logistics, supply chain, distribution, transport, and fintech rails. The firm's funds and syndicates are open only to accredited investors in accordance with US SEC rules, and it invites accredited investors and startup referrals that fit its thesis.
Source: firm website, verified Aug 3, 2026.
Team · 11 people
from the firm's website & public directories
What they invest in
from 15 of 41 portfolio companiesFintech ×7Logistics & Supply Chain ×7B2B Marketplaces ×5E-commerce ×5AI & Machine Learning ×4Mobility & Transportation ×4SaaS ×4Consumer ×3
HQs:Kenya×2Pakistan×2Bangladesh×1Egypt×1France×1Ghana×1
Who they back
founder profiles across 10 portfolio companiesFounding team size:solo founder×43 founders×54+ founders×1
Where their founders studiedfrom 15 founders with education data
ESCP ×3Lahore University of Management Sciences ×3
What their founders studiedfrom 15 founders with field-of-study data
Business & Management ×6Economics ×4Computer Science ×3Engineering ×3Finance & Accounting ×2
Where their founders worked beforefrom 15 founders with career history
Careem ×4
Accelerator rootsportfolio companies that came through a program
Investments · 41 tracked
founders shown can be your intro pathBy year:2026 · 12024 · 22023 · 42022 · 29 dated
Chari is a fintech app available in Morocco that provides mobile money services including phone recharges, bill payments, peer-to-peer transfers, and Visa card issuance.
ConsumerE-commerceFintechFoodTechCasablanca, MA
Ismael Belkhayat(Founder)inSophia Alj(Founder)inSophia Belkhayat(Founder)
Co-investorsSPE Capital PartnersStonewater VenturesUM6P VenturesVKAV (Verod-Kepple Africa Ventures)Y CombinatorEndeavor Catalyst+4 more
Dastgyr operates a B2B marketplace connecting retailers, wholesalers, exporters, and suppliers to trade products and access capital.
B2B MarketplacesE-commerceFintechRetail TechKarachi, PK
Muhammad Owais Qureshi(Founder)inZohaib Ali(Founder)inMuhammad Qureshi(Founder)Zohaib Ali Malik(Founder)
Co-investorsADB VenturesCedar Mundi VenturesCentury Oak VenturesIndus Valley CapitalKhwarizmi VenturesKube VC+5 more
Fincart operates a shipping and logistics platform for e-commerce merchants in the MENA region, letting them create or bulk-upload orders, connect their online stores, select couriers, and track deliveries.
E-commerceFintechLogistics & Supply Chain
Mostafa Elmasry(Founder)Mostafa Masry(Founder)Nihal Ali(Founder)
Co-investorsPlus VCFalak StartupsLaunch Africa VenturesOrbit
Gigmile is a mobility platform providing lease-to-own and rental motorcycles and tricycles, along with maintenance, telematics, microcredit, and financial services, to gig workers in Africa.
FintechLogistics & Supply ChainMobility & TransportationAccra, GH
Kayode Adeyinka(Founder)in
Co-investorsEnza CapitalTechstarsYango Ventures
GoCement is an Indonesian online marketplace for building and construction materials, connecting buyers with local building-supply stores via a mobile app and website.
B2B MarketplacesConstruction TechE-commerce
Co-investorsDS/X VenturesFoundamentalKejora CapitalSpiral VenturesBEENEXT
SaaS-enabled freight marketplace digitizing the agro-freight logistics landscape in Brazil
Sao Paulo - Sp
Pedro Azevedo(Founder)inAlexandre Stephen(Director)Luis Fernando Martinez(Director)Rodrigo Da Costa Pinto Silva Goncalves(Director)
BoardWill Poole(Director)in
Co-investorsCapria VenturesSP VenturesArrebol CapitalBlustone CapitalThe Yield Lab Latam
Jatri is a global B2B travel commerce platform that digitizes transport operators and travel buyers through a unified technology and finance ecosystem.
B2B MarketplacesConsumerLogistics & Supply ChainMobility & TransportationSaaSTravel & HospitalityDhaka, BD
Aziz Arman(Founder & CEO)in
Co-investorsDoha Tech AngelsGobi PartnersLoftyInc CapitalSprint VcBrain-Too-Free VenturesDVC+2 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 VenturesDFS Lab FrontierOui CapitalVentures PlatformDFS LabLaunch Africa Ventures+2 more
MarketForce operates a platform connecting neighbourhood merchants across Sub-Saharan Africa with digital tools for inventory purchasing, payment collection, and access to credit and banking services.
Enterprise SoftwareFintechMarketplacesNairobi, KE
Mesongo Sibuti(Founder)inTesh Mbaabu(Founder)in
Co-investorsFlucas VenturesFuture AfricaStonewater VenturesV8 Capital PartnersY CombinatorChui Ventures+17 more
Moneco is a financial app providing international accounts and payment services for Africans, enabling transactions, international money transfers, and card payments.
FintechParis, FR
Shams Radjabaly(Founder)inBilal Dahlab(Founder)inKuassi Jimmy Kumako(Founder)in
Co-investorsAjim CapitalDigital AfricaKima VenturesY CombinatorPeterson Venture Partners
Moova is a logistics platform that connects delivery drivers and businesses with e-commerce platforms in Latin America.
AI & Machine LearningE-commerceLogistics & Supply Chain
Antonio Migliore(Founder)in
Co-investorsAlaya CapitalFJ LabsiThink VCSwordfish Investments
Renda provides technology solutions for logistics and mobility businesses operating in emerging markets, enabling operational optimization and expansion across Africa, including Nigeria, Kenya, Uganda, Rwanda, and Tanzania.
B2B MarketplacesLogistics & Supply ChainMobility & TransportationSaaSLagos, NG
Damilola Owoeye(SVP, Fulfilment & Value-Added Services)in
Co-investorsFounders Factory AfricaIngressive CapitalTechstarsMAGIC FundVastly Valuable Ventures
Source ID provides AI-powered identity verification and KYC/KYB solutions for businesses and financial institutions in emerging markets.
AI & Machine LearningCybersecurityFintech
Ade Omisore(Co-Founder)Ife Kehinde(Co-Founder and Board Member)Devon Smith(Co-Founder and Advisor)in
Co-investorsBenchstrength Partners
Tappi provides AI-powered reputation and loyalty platform tools for businesses, helping them turn customer interactions and payments data into insights, reviews, and revenue growth.
AI & Machine LearningMarketing TechSaaSNairobi, KE
Co-investorsAcasia VenturesAjim CapitalCairo Angels Syndicate FundDigital Currency GroupMaC Venture CapitalWestbound Equity Partners+6 more
Tappi is a fan engagement platform for music that offers artist moments, exclusive drops, and direct connections between fans and the artists they follow, extending beyond standard streaming.
ConsumerCreator EconomyMedia & Entertainment
Co-investorsJumpstart VenturesChui VenturesDigital Currency GroupgrowX VenturesMercy Corps VenturesOrbit Startups+2 more
TruckItIn operates an all-in-one platform for freight and trucking operations, offering live shipment tracking, load booking, fleet management, and analytics.
Logistics & Supply ChainMobility & TransportationSaaSKarachi, PK
Haider Navid(Founder)inMuhammad Sarmad Farooq(Founder)inRaza Afzal(Founder)in
Co-investorsADB VenturesAmaana CapitalCianna CapitalFatima Gobi VenturesPICUS CAPITALVentek+7 more
Other
Tracked investments with no reachable website or further public details — typically companies that wound down, renamed, or were absorbed.
1Trolley CloudApploadAsset-Based FinancingCargonCircular EconomyConstruction Materials DistributionDelivery as a ServiceE-BankingE-Enabled Freight ForwarderE-Enabled TradingFMCG DistributionFulfillment as a ServiceIdentity and ComplianceKamionLogistics SaaSO360Pharma DistributionPollenPulseTechQ-Commerce OrchestrationSales GenerationSales Generation B2B2CSoutagT40 TechnologiesTransport Ticketing
Portfolio news
latest coverage across their companiesFincart · fintech.global · Jul 27, 2026
Frequently asked questions
- How many investments has Reflect Ventures made?
- Reflect Ventures has 41 tracked investments, including 1 dated in the last 24 months.
- What stage does Reflect Ventures invest at?
- Reflect Ventures invests at the Pre-Seed, Seed, Series A stages.
- What sectors does Reflect Ventures focus on?
- Reflect Ventures focuses on E-commerce, Fintech, Logistics & Supply Chain.
- Where is Reflect Ventures located?
- Reflect Ventures is headquartered in Menlo Park, US.
- Who does Reflect Ventures co-invest with?
- Reflect Ventures most often shares deals with ADB Ventures, Techstars, Ventek, among 48 tracked co-investors.
- What size deals does Reflect Ventures back?
- Across 5 deals with disclosed amounts, Reflect Ventures has joined rounds of $1.5M – $6M (median $3.2M).
Media · Podcasts & interviews
featuring the teamMichel Friedman - Partner Reflect Ventures
Charles Cormier Podcast - CEO Wisdom · Michel Friedman
59. Michel Friedman | Reflect Ventures
misaal podcast · Michel Friedman
#EmergingMarkets#VentureCapital-Michel Friedman-Reflect Ventures
PHBS ISU Entrepreneurs · Michel Friedman
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