Africa is fast emerging as the next major frontier for Indian startups seeking growth beyond domestic borders, with markets such as Nigeria, Kenya, Morocco, Egypt, Seychelles, Ghana and Rwanda drawing increasing interest.
Strategic Pull
According to industry experts, while the continent’s startup ecosystem is still developing, there’s momentum behind its digital transformation.
“With huge markets that haven’t been tapped and more people getting online every day, Africa is the next big place for startups to grow,” Ankur Mittal, co-founder of IPV, told Fe. He pointed to the scale of opportunity reflected in rising Internet penetration. According to Statista, as of October 2025, Nigeria had 107 million Internet users, the highest in Africa, while Egypt followed with over 96 million users. Mittal added that the continent’s young and ambitious workforce is another factor attracting global investors. “Lately, investors from the US and Europe, especially those whose focus is on making an impact, are paying close attention,” he said.
Indian Frontrunners
Among Indian companies making early inroads, edtech platform Leverage Edu has seen some of its strongest traction from Africa. “We have built strong traction across Nigeria, Ghana and Kenya, recently launched in Egypt, and expect Morocco to follow soon,” a company spokesperson said. With demand for global education rising, the startup sees Africa as a natural fit for its model. “Students are looking for trusted guidance, transparent financing, and clarity on visas and career outcomes, and that’s the gap our full-stack model solves for,” he added.
QueueBuster, backed by Chiratae Ventures, is also gearing up for a structured expansion across the continent over the next 12–18 months. The mobile POS platform plans to collaborate with retailers, omnichannel brands and payment companies in key markets. “For us, Africa represents a fast-growing market with rising consumption and strengthening retail infrastructure, making it an ideal region to establish long-term partnerships early and contribute meaningfully to the digital transformation of its retail ecosystem,” Varun Tangri, CEO and founder of QueueBuster, said. The company aims to establish a presence in 3–5 leading African countries by FY26 and expects the region to contribute around 25% of its international revenue by FY27.
Electric mobility solutions provider SUN Mobility is also betting on Africa. In July, it secured funding from Helios Climate in partnership with the Private Infrastructure Development Group to launch a battery-swapping network in African markets. “We have built a modular, fast, and scalable battery swapping ecosystem that adapts to real-world mobility needs. With over 1.4 million monthly swaps in India and growing global interest, we are excited to extend our proven model to emerging markets like Africa,” co-founder and Chairman Chetan Maini said during the fundraise.
Fintech firm M2P Fintech strengthened its Africa strategy last year with a $100 million fundraise and expanded further in February this year by opening an office in Cairo Festival City, Egypt. Joseph Thachil, Africa expert and director of Trendsnafrica, said, “An increasing number of startups from India are today focusing on Africa in diverse fields like IT, education, particularly distance education, biotech, etc. We have to understand that of 54 countries in Africa, close to 15 countries or so have already become middle-income or in the threshold of it in the foreseeable future”.
The interest is not one-sided. A growing number of African startups, including those founded by Indian entrepreneurs, are now looking to enter India. One example is FutureMe, an ultra-luxury skincare brand launched in South Africa last year, which has recently entered the Indian market targeting high-net-worth consumers.
The opportunity ahead appears sizeable. A 2025 report by Mobility Foresights projects that the African retail market will grow from $32.18 billion in 2025 to $82.64 billion by 2031 at a CAGR of 16.9%. As retail modernisation accelerates, Thachil said, “There will be demand for ancillary services and consultancies, which some Indian companies are getting”.