Byld, a five-month-old VC firm, has joined the hundreds of other investors pumping money into African fintech start-ups, set to invest some $15 million fund into early-stage fintech start-ups building the infrastructure for an improved financial system in Africa.
African fintechs that want a piece of Byld’s cake must be at their early stage, building infrastructural solutions like APIs and embedded finance solutions that can be adopted by more fintechs and scaled.
Byld currently has about 4 companies in its portfolio, including Thepeer and Anchor, both of which are building infrastructural solutions in Africa.
Also, Blyd will give a listening ear to start-ups that are reversing Africa’s brain drain, or those which prove to be a good fit for the problem they are solving.
The company is happy to meet founders who fall in those two categories.
Byld is backed by a lot of successful professional athletes. Youcef Oudjidane, Byld’s founding partner, played a lot of soccer in his youth and built relationships that are literally paying off now.
It also claims its fund is backed by the Dubai government and other institutional LPs