Kenya 
How to Structure a Fintech Cap Table for African Investors
Nigeria
Financial Services
African fintech fundraising usually combines capital from several distinct investor types: local angels, pan-African VCs, Global South VCs, development finance institutions, and strategic corporate investors. Each group has different expectations about ownership, governance, liquidation preferences, and exit timelines. This guide walks through how to structure a cap table that can absorb capital from all of them without creating conflicts that poison later rounds.
The African fintech cap table is not a copy of the Silicon Valley template. African fintechs raise from a more varied set of investor types than their US peers do, and each type brings specific expectations about ownership, board composition, liquidation preferences, and exit timelines. A cap table optimized for one in...
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