First Circle Capital, a venture capital firm based in Morocco and Uganda, has secured $6 million from the International Finance Corporation (IFC), part of the World Bank Group. The funding will expand its investment in high-growth fintech startups driving financial inclusion and digital transformation across Africa.
Accelerating Fintech Growth in Africa
With a target fund size of $30 million, First Circle Capital invests in pre-seed and seed-stage startups solving key challenges in:
- Financial infrastructure and payments
- Digital lending and embedded finance
- SME enablement and inclusion
The firm supports founders not only with capital but also with operational expertise to prepare them for Series A growth. Its portfolio already includes 15 startups across eight African countries. About 30% of these are led or co-founded by women, while half operate across multiple markets.
Backed by Global Institutions and Investors
The IFC’s $6 million commitment anchors a broader group of institutional and private backers that includes:
- We-Fi (Women Entrepreneurs Finance Initiative) contributing $2 million
- Dutch Good Growth Fund (DGGF) providing $3 million
- FSD Africa, MSMEDA, and Axian Group supporting strategic expansion
- Tech entrepreneurs such as Jens Hilgers, Tim Schumacher, Peter Steinberger, and Steve Anavi
This blend of global capital and regional expertise strengthens First Circle Capital’s mission to build a sustainable fintech ecosystem that drives economic growth.
Building a Stronger Financial Future
Headquartered in Casablanca and Kampala, First Circle Capital uses a focused investment approach to identify founders developing scalable financial solutions. The fund emphasizes:
- Financial access for underserved populations
- Cross-border scalability of digital products
- Operational excellence through close partnership with founders
This model enables startups to scale efficiently, attract later-stage funding, and deliver measurable social and economic impact.
Catalyzing Africa’s Digital Finance Revolution
Africa’s fintech sector continues to attract global attention due to its vast potential and youthful digital-first population. IFC’s investment signals institutional trust in First Circle Capital’s ability to identify and nurture the next generation of fintech leaders who will shape inclusive growth across the continent.
