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Since 2020, The MasterCard Foundation has backed 7 African startups across 7 disclosed funding rounds totaling $1.6M, most heavily in Nigeria and EdTech.
The Mastercard Foundation is an independent, global philanthropic organization created in 2006 and registered as a Canadian charity. It is based in Toronto, Canada, and works through offices across Africa. The Foundation focuses on advancing education and financial inclusion so that young people in Africa and Indigenous youth in Canada can access dignified and fulfilling work. Within Africa, the Mastercard Foundation partners with visionary organizations and tech hubs to support education, skills development, and entrepreneurship. Its programs include a strong focus on education technology, and the Foundation’s Centre for Innovative Teaching and Learning works with EdTech hubs and entrepreneurs across the continent. In this context, the Foundation has backed early and growth stage EdTech ventures in Nigeria and Kenya, including Lingawa, Harde Business School, FLOW, Exam Scholars, EduTAMS, SabiTeach, and Zeraki. These investments span seed and other early stages and reflect a geographic concentration in Nigeria, with additional activity in Kenya. Through initiatives such as the Mastercard Foundation EdTech Fellowship, the Foundation provides financial support and business development assistance to African EdTech companies so they can scale inclusive learning solutions. It collaborates with ecosystem partners like Co-Creation Hub and other regional investors to help education ventures reach more learners, improve learning outcomes, and strengthen pathways from education into work for young people across Africa.
Data updated · Sep 8, 2026
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The MasterCard Foundation has backed 7 African startups across 7 disclosed funding rounds tracked on Liners, totaling $1.6M since 2020.
Mostly Other: 6 of its 7 tracked rounds are at that stage, followed by Seed (1).
Its tracked rounds lean toward EdTech (7).
The MasterCard Foundation most often shares rounds with Co-Creation Hub (3 shared deals), Zrosk Investment Management (1 shared deal), Dara Treseder (1 shared deal).
The Mastercard Foundation is an independent, global philanthropic organization registered as a Canadian charity and headquartered in Toronto, Canada. It focuses on advancing education and financial inclusion so that young people in Africa and Indigenous youth in Canada can access dignified and fulfilling work.
The Mastercard Foundation often works through structured programs and partnerships to support African EdTech ventures. For example, it collaborates with tech hubs such as Co-Creation Hub and other ecosystem investors to provide financial support and business development assistance to promising education technology companies.
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