Funded Startups in Lusaka
Across the 5 most recent Lusaka rounds, disclosed amounts cluster near the low teens, but Mangwee’s $100K (2021-06-08) is a clear low outlier versus Union5…
Across the 5 most recent Lusaka rounds, disclosed amounts cluster near the low teens, but Mangwee’s $100K (2021-06-08) is a clear low outlier versus Union54’s $12M (2022-04-18), Lupiya’s $11M (2026-02-20), and Altus Financial Services’ $3M (2026-06-17); the only disclosed round above $10M is $12M, held by Union54. Sector coverage is narrow: 4 of 5 entries list Financial Services (Altus Financial Services on 2026-06-17 for $3M; Lupiya on 2026-02-20 for $11M; PremierCredit Zambia on 2024-02-14 as undisclosed; Union54 on 2022-04-18 for $12M), with Mangwee as the only different label (still shown under Financial Services). Temporally, the list spans 2021-06-08 to 2026-06-17, with three disclosed rounds closing between 2022-04-18 and 2026-02-20/2026-06-17. Stage labeling is mixed: 1 Seed ($12M), 1 Series A ($11M), and 2 “Series Unknown” entries plus 1 blank stage field. There are 2 non-disclosed amounts: PremierCredit Zambia is undisclosed (2024-02-14) and Mangwee’s stage is blank even though the amount is disclosed.
Most recent rounds
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Frequently asked
Which Lusaka round is the biggest disclosed one, and how far above the rest is it?
Union54’s $12M on 2022-04-18 is the largest disclosed amount in this set; the next-largest disclosed rounds are Lupiya’s $11M (2026-02-20) and Altus Financial Services’ $3M (2026-06-17). Mangwee’s $100K (2021-06-08) is the smallest disclosed amount by a wide margin.
Is there a concentration in sectors or stages across these recent entries?
Financial Services dominates at 4 of 5 companies (Altus Financial Services, Lupiya, PremierCredit Zambia, Union54), while Mangwee is the only other label shown. Stage classifications are split between Seed (Union54, $12M on 2022-04-18), Series A (Lupiya, $11M on 2026-02-20), and three entries without a clear stage split (2 “Series Unknown” plus 1 blank stage field).
Do multiple rounds land in a narrow recency window?
Yes. Two disclosed rounds fall in 2026 (Lupiya on 2026-02-20 for $11M; Altus Financial Services on 2026-06-17 for $3M), and two more fall earlier in the same span (PremierCredit Zambia on 2024-02-14, amount undisclosed; Union54 on 2022-04-18 for $12M). The oldest disclosed amount is Mangwee’s $100K on 2021-06-08.
How many entries have undisclosed or missing amounts/stage data, and does it affect comparisons?
One amount is explicitly undisclosed: PremierCredit Zambia (2024-02-14). Stage is also incomplete: two companies are tagged “Series Unknown” (Altus Financial Services and PremierCredit Zambia) and Mangwee shows a blank stage field, limiting stage-based comparisons beyond the Seed and Series A entries.
Are any outliers worth flagging for diligence, given the disclosed amounts?
Mangwee’s $100K on 2021-06-08 is an outlier low relative to the other disclosed figures ($3M, $11M, $12M). On the high side, Union54’s $12M (2022-04-18) slightly edges Lupiya’s $11M (2026-02-20) rather than creating a large gap among the top two.
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