Five35 Widens Female-Focused Bets as African Funding for Female Founders Dries Up

Five35 Ventures, the pan-African seed-stage fund focused on female-focused technology companies, has expanded its portfolio with five investments across Egypt, Kenya and Nigeria, spanning logistics, mobility, health, food systems and e-commerce. The fund announced two new investments — Fincart (Egypt) and Malaica (Kenya) — and three follow-ons into BuuPass (Kenya), Daleela (Egypt) and Pricepally (Nigeria). Five35 did not disclose deal sizes.

“These investments reflect our continued commitment to backing ambitious African founders building innovative solutions to some of the continent’s most pressing challenges,” the fund said in a statement.

New and follow-on investments: company and founder details

• Fincart (Egypt) — Founded in 2023 by Mostafa Masry and Nihal Ali, the e-commerce operations and logistics platform unifies multiple couriers to help merchants optimise shipping, reduce returns, speed up cash settlements and access flexible financing.
• Malaica (Kenya) — Co-founded by Dr Lorraine Muluka, an obstetrician and gynaecologist, and serial entrepreneur Pascal Koenig with early contributor Victor Ndegwa, Malaica provides hybrid maternity care combining clinical services, digital health and community support.
• BuuPass (Kenya) — Co-founded by Wyclife Omondi and Sonia Kabra after winning the $1m Hult Prize in 2016, BuuPass digitises intercity transport by connecting travellers with bus, train and flight operators through a single booking platform. This is a follow-on investment for Five35.
• Daleela (Egypt) — Owned by parent platform Motherbeing and co-founded by Nour Emam, Yousef ElSammaa and Ahmad Abou Hashem, Daleela offers AI-powered women’s health support including cycle tracking, access to specialist doctors and educational content; Five35 renewed its backing.
• Pricepally (Nigeria) — Founded in 2019 by Luther Lawoyin, Jumai Abalaka, Deepak Bansal and Mosunmola Kola Adefemi, Pricepally connects consumers with farmers, wholesalers and food suppliers and received a follow-on from Five35.

Five35 is led by founding partner Hema Vallabh, an engineer, entrepreneur and investor. The fund operates as the capital arm of WomHub, a pan-African incubator and co-working network for female founders in STEM. Five35 is targeting a $30m fund and has completed a first close. Its existing portfolio includes companies such as Kasha, Shuttlers, Zindi, BuuPass and RxAll. Vallabh is also an angel investor with Dazzle Angels.

The timing of the new investments is notable: the fund made the moves as the share of venture capital flowing to female founders in Africa has fallen to its lowest level in years. While Five35’s mandate is centred on female-focused technology companies, its latest positions do not all have women as chief executives, reflecting a broader investment remit that backs women-focused products and services across gender-diverse leadership.

Five35’s statement and the disclosed company details underscore a series strategy that mixes fresh bets with follow-on capital to support growth-stage traction in areas such as logistics efficiency, maternal health, digital mobility, AI-powered women’s health and grocery supply chains. With a first close on a targeted $30m vehicle, the fund appears positioned to continue supporting startups that address operational gaps in e-commerce, health delivery and food systems across the continent.