An investment group that focuses on supporting African entrepreneurs and startups through funding and mentorship.
12 African startups and tech companies that cut workforce in 2025
Metro Africa Xpress (MAX) laid off about 150 employees, roughly 30% of its workforce, to pivot towards financing electric vehicles. 54 Collective announced layoffs after ending its partnership with the Mastercard Foundation due to a lack of alternative funding.
This Mastercard-backed startup says it will be AfCFTA’s implementation engine
Brydge was founded in late 2023 to address trade challenges faced by SMBs in Africa. The startup has processed ₦4.8 billion ($3.1 million) in transactions and disbursed ₦100 million ($61,000) in trade financing.
“Mastercard Foundation’s agreement was not terminated due to a breach,” Bongani Sithole, 54 Collective’s CEO
54 Collective, an early-stage venture studio, shut down in February 2025, laying off over 40 employees. Mastercard Foundation withdrew funding due to concerns over 54 Collective's rebranding and potential conflicts of interest.
16 venture capital firms in Africa actively funding startups in 2025
54 Collective remains active with a $40 million fund despite shutting down its venture studio operations. Accion Venture Lab invested in SUKHIBA, an AI-powered conversational commerce platform, emphasizing financial inclusion.
54 Collective To Shut Down Venture Studio in Africa
54 Collective will shut down its venture studio operations in Africa after April 30, 2025. The firm has backed over 40 startups and created more than 17,500 jobs through its programs.
