Madica Makes Debut Investments In Algeria And Cameroon, Backing Five Startups”

Madica, a structured pre-seed investment programme for African startups, has announced five new investments that expand its portfolio into Algeria and Cameroon for the first time and broaden its footprint across four markets. The cohort includes Talenteo (Algeria), Paysika (Cameroon), ChipMango (Nigeria), Delta Oil (Egypt) and Bekia (Egypt); each company will receive up to $200,000 and join Madica’s 18-month support programme combining capital, mentorship and investor access.

"At Madica, we've always believed that exceptional founders can be found in every corner of Africa, yet access to early-stage capital remains heavily concentrated in a handful of ecosystems," said Emmanuel Adegboye, Head of Madica. "By making our first investments in Algeria and Cameroon, we're continuing to prove that world-class businesses can emerge from markets that have historically been overlooked by venture capital."

The five portfolio additions span HR technology, financial services, semiconductors and the circular economy, reflecting a sector-agnostic approach. Madica will pair patient capital with company-building support — including executive coaching, fully funded founder immersion trips and access to a global investor network — over an 18-month programme. Madica launched in 2022 to address gaps in early-stage funding in underserved African markets and is affiliated with Flourish Ventures.

The new investments

• Talenteo (Algeria) — co-founded by Louai Djaffer. Talenteo is an all-in-one HR management platform aimed at medium-sized and mid-market businesses across Francophone Africa to digitise and streamline human resources management. "Too often, founders in markets like ours have to work twice as hard to access the capital and networks needed to grow," said Louai Djaffer. "Madica looked beyond our geography and backed our ambition."
• Paysika (Cameroon) — co-founded by Roger Nengwe and Stezen Bisselou. Paysika is a digital neobank offering virtual and physical payment cards to consumers and SMEs across Central Africa, enabling international transactions and broader access to modern financial services. "We're building the financial infrastructure allowing banking services that are more accessible, practical and inclusive for consumers and businesses across Central Africa," said Roger Nengwe, Co-Founder and CEO of Paysika. "With Madica's support, we're well-positioned to accelerate our growth and scale our impact across the region."
• ChipMango (Nigeria) — co-founded by Ola Fadiran and Jovan Andjelich. The startup focuses on building Africa's semiconductor ecosystem through chip design services, engineering education and localised Edge AI products.
• Delta Oil (Egypt) — co-founded by Serag Moussa. Delta Oil is building infrastructure to connect fragmented used cooking oil (UCO) collection networks with international buyers, turning an underutilised waste stream into feedstock for renewable fuels.
• Bekia (Egypt) — founded by Alaa Afifi. Bekia is a digital platform creating the collection layer for Egypt's recycling economy, paying households and businesses for recyclable waste and supplying industrial buyers.

Each portfolio company will receive up to $200,000 and enter Madica's blended model of capital plus company-building support. The programme stipulates that eligible startups have a minimum viable product (MVP) with some paying customers, full-time founder engagement and little or no prior institutional funding, and must be headquartered in Africa.

Madica's entry into Algeria and Cameroon marks a rare institutional investment presence in two markets where venture capital is limited. The fund said it will continue seeking opportunities across the continent to back founders "capable of creating lasting impact across Africa and beyond," positioning this round as both a geographic and thematic expansion of its early-stage remit.