# XL Africa

> XL Africa is a VC fund in Lagos backing Internet, Software and Apps. See 16 investments, check sizes, portfolio. Updated Sep 2026.

- Type: VC Fund
- Location: Lagos, Nigeria
- Total investments: 16
- Last investment: Dec 2018
- Lead investor: 94%
- Last updated: Sep 2026
- Website: https://x.com/XL_Africa
- Facebook: https://www.facebook.com/xlafrica/

XL Africa is a five-month post-accelerator program designed to supports 20 promising digital 'scale-ups' from across Africa. XL Africa is supported by the World Bank Group, with financial assistance from the Governments of Finland, Norway, and Sweden, and managed by implementing partners IMC Worldwide, VC4Africa and Koltai&Co.

## Investment focus

### Industry

| Industry | Investments | Share |
| --- | --- | --- |
| Internet | 4 | 25% |
| Software | 3 | 19% |
| Apps | 2 | 13% |
| Delivery | 2 | 13% |
| Logistics | 2 | 13% |

51 industries tracked in total.

### Stage

| Stage | Investments | Share |
| --- | --- | --- |
| Non-equity Assistance | 15 | 94% |
| Venture - Series Unknown | 1 | 6% |

### Country

| Country | Investments | Share |
| --- | --- | --- |
| Nigeria | 7 | 44% |
| Kenya | 3 | 19% |
| South Africa | 2 | 13% |
| Tanzania | 1 | 6% |
| Mauritius | 1 | 6% |

7 countries tracked in total.

## Investments

| Company | Description | Amount | Stage | Date | Website |
| --- | --- | --- | --- | --- | --- |
| Jamii Africa | Jamii Africa is mobile micro-health insurance for the informal sector. They built a mobile policy management platform that performs 99% of insurance administration activities and formed strategic partnerships with an Insurer/ Jubilee Insurance and a Telecom/ Vodacom Tanzania to enable a cashless facility and utilise the mobile moneyplatforms for premium collection and benefit payouts. Their platform manages the benefit ledger and is integrated to mobile money and insurer systems.Enabling us to cut down administration costs by 99% which results to cheaper premiums affordable to their target market. | $1M | Venture - Series Unknown | Dec 31, 2018 | http://www.jamiiafrica.com |
| Aerobotics | Aerobotics provides intelligent tools for optimal perennial crop farming practices. | $50K | Non-equity Assistance | Aug 30, 2017 | https://www.aerobotics.com/ |
| Rasello | Rasello is a Business Communication Software that helps businesses and professionals communicate with their customers in new creative ways.Over 2,345 businesses and professionals use Rasello as their preferred Business Communication Software. Rasello enables businesses to engage people, send promotions, tell stories to over 2 million of theircustomers that they manage on the Rasello cloud. Every month, roughly 1 Million Email and SMS broadcasts are sent via Rasello which today is used across Tanzania, Kenya, Uganda, South Africa, Egypt, Morocco, Nepal and other countries in Africa/Asia.Every day, Rasello's intuitive and aesthetic technology advanced giving businesses more ways to better communicate and spread the love to people.Using Rasello is very simple compared to traditional ways to manage client records on spreadsheets. Join Rasello on http://rasello.com/register to discover how Rasello will automate and help you build better relationships.Rasello's 5 main products:1. Manage customer records2. Email and SMS Communication3. Public relations management4. Customer analytics5. Business intelligence |  | Non-equity Assistance | Aug 30, 2017 | https://x.com/myrasello |
| ogaVenue | ogaVenue is a marketplace for event venues that lets you Search, Check date availability and Book event venues online. We connect all types of unique venues with those who want to book this venues.Our major aim is to ensure you have a number of various venue types to select from ranging from wedding venues, birthday venues, hotel halls, marquee,pool side, conference halls, Garden, Multi-Purpose hall, Open space, Open Lawn etc.Search, Check date Availability and Book event venues in Nigeria. |  | Non-equity Assistance | Aug 30, 2017 | https://ogavenue.com.ng/ |
| TalentBase | TalentBase is an affordable payroll solution enabling African SMEs to simplify and organize their HR processes. |  | Non-equity Assistance | Aug 30, 2017 | https://x.com/talentbaseng |
| pesabazaar.com | Pesabazaar is Kenya’s prominent online general insurance aggregator. We are specialised in making comparative analysis of the insurance products based on price, quality and key benefits. We empower customers with accurate and up to date information on Insurance products combined with excellent customer service. |  | Non-equity Assistance | Aug 30, 2017 | https://x.com/pesabazaar |
| PayCentre | PayCentre is an agent banking solution platform that offers financial services to the unbanked and financially underserved. |  | Non-equity Assistance | Aug 30, 2017 | https://x.com/paycentreafrica |
| MAX | Max addresses the last-mile delivery and online-retail problems by using mobile and web platforms to connect consumers, retail businesses, and independent drivers in real-time. They are eliminating all logistics and technology barriers that have historically prevented retail businesses in Africa from realizing their full potential. |  | Non-equity Assistance | Aug 30, 2017 | https://max.ng/ |
| Rensource Energy | Rensource is a new type of energy company built as a financial services business.Rensource offers a turnkey business opportunity that allows qualifying companies throughout Nigeria and West Africa to start selling Power-as-a-Service (“PaaS”) to their customers. Rensource generates electricity using small solar-hybrid systems that are installedin the premises of the final customer. At the heart of Rensource lies an internal “bank”: a balance sheet financing the solar-hybrid systems, and a credit operation underwriting and servicing the monthly collections from final customers. Rensource´s mission is to make Nigeria the first country in the world relying predominantly on distributed renewables-based power generation. |  | Non-equity Assistance | Aug 30, 2017 | http://www.rensource.energy |
| Timbuktu | Timbuktu is a platform that allows travelers to design and customize their own trip to Africa. Timbuktu was founded with a clear vision: to make Africa more accessible to all, by empowering the travelers, to explore and build their own safari, regardless of experience or budget, while saving money along the way. |  | Non-equity Assistance | Aug 30, 2017 | https://www.timbuktutravel.com/ |

10 of 16 investments shown.

## Co-investors
- [Bill & Melinda Gates Foundation](https://shizune.co/investors/profile/bill-melinda-gates-foundation) — VC Fund, 1 deal together
- [GSMA Ecosystem Accelerator](https://shizune.co/investors/profile/gsma-ecosystem-accelerator) — VC Fund, 1 deal together
- [Google Launchpad Accelerator](https://shizune.co/investors/profile/launchpad-accelerator) — VC Fund, 1 deal together
- [Seedstars World](https://shizune.co/investors/profile/seedstars-world-sa) — VC Fund, 1 deal together
- [absujkba](https://shizune.co/investors/profile/tiphub) — VC Fund, 1 deal together

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## FAQ

### What does XL Africa invest in?

XL Africa invests primarily in Internet, Software and Apps startups, most often at Non-equity Assistance and Venture - Series Unknown stage. Most of the 16 investments tracked by Shizune back companies in Nigeria. The Investment Focus section breaks down every industry, stage and country in the portfolio.

### When did XL Africa last invest?

The most recent investment recorded for XL Africa closed in Dec 2018. Shizune tracks 16 investments in total for this profile, including round sizes, stages and portfolio companies, all sourced from confirmed public funding rounds and refreshed monthly.

### Is Shizune's investor data accurate?

Yes — every stat on this profile is calculated from confirmed public funding rounds monitored across hundreds of sources since 2020. This profile was last refreshed in Sep 2026 and is updated monthly. Spotted something off? Use the “Suggest an edit” link near the top of the page.

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