Kenya’s startup landscape in 2024 has been a mixed bag of challenges and triumphs. While closures and downsizing have dominated headlines, several startups have defied the odds by securing significant funding, pursuing mergers and acquisitions, and embarking on ambitious cross-border expansions.
Startups to Watch in 2025
Here are some of the Kenyan startups poised for success in the coming year:
1- M-KOPA
In September 2024, M-KOPA announced it had reached five million customers across five African markets, cementing its position as a leader in financial services for low-income earners. The company, founded in 2010, provides affordable smartphones, solar panels, and electric motorcycles through its PAYGO model. With its tax issues resolved, M-KOPA is now focused on scaling its locally assembled products and expanding its impact on the informal economy.
2- Kopo Kopo
Acquired by Moniepoint in August 2023, Kopo Kopo continues to offer payment solutions and credit facilities to small and medium-sized enterprises. The acquisition marks Moniepoint’s entry into Kenya’s competitive fintech space, which is heavily regulated by the Central Bank of Kenya. The company’s growth will be closely monitored as it navigates regulatory scrutiny.
3- Craydel
Craydel, an edtech startup founded in 2021, expanded into Zimbabwe in November 2024, bringing its total markets to four. The company provides a unified platform for African students to apply to universities abroad, partnering with 600 institutions across 45 countries. CEO Manish Sardana highlighted the untapped potential of Africa’s study-abroad market, which remains fragmented and underdeveloped.
4- Hisa
Following its acquisition by Rise, Hisa has retained its brand and operations while scaling rapidly. The platform, founded in 2020, allows users to invest in Kenyan and global assets, including stocks, bonds, and ETFs. Co-founder Eric Asuma noted record-breaking trading volumes in late 2024, driven by heightened interest in the US election.
5- Sukhiba
Shukhiba, a social commerce startup, raised $1.5 million in 2024, defying the trend of downsizing in the sector. The platform, which operates via WhatsApp, enables customers to order products through conversational commerce. Founders Ananth Raj and Abhinav Reddy emphasized the trust users place in their platform, which offers a more personalized shopping experience compared to traditional e-commerce websites.
Looking Ahead
Kenya’s startup ecosystem continues to evolve, with resilience and innovation at its core. While challenges persist, the successes of startups like M-KOPA, Craydel, and Hisa demonstrate the potential for growth and impact in the region. As 2025 approaches, these companies are well-positioned to lead the charge in shaping Africa’s digital future.
