Uncovered Fund

Uncovered Fund is a venture capital investment firm established in 2019 and headquartered in Tokyo, Japan. The firm focuses on early-stage startups, primarily targeting businesses located in Kenya, Nigeria, and South Africa. Uncovered Fund invests in various sectors, including retail, fintech, health tech, logistics, mobility as a service (MaaS), agritech, and smart city initiatives. By concentrating on these regions and industries, Uncovered Fund aims to support innovative entrepreneurs and foster growth in emerging markets.

Takuma Terakubo

CEO and General Partner

Past deals in West Africa

Termii

Seed Round in 2023
Termii is an online platform based in Lagos, Nigeria, that assists African businesses in engaging with their customers through personalized communication via SMS, email, voice, and instant messaging channels. Founded in 2014, Termii offers a comprehensive suite of business applications that cater to various needs including digital branding, sales, marketing, customer relationship management, eCommerce, accounting, inventory, and project management. By providing these tools, Termii aims to enhance customer retention and improve business operations, making it easier for companies to secure repeat customers and foster effective communication.

CredPal

Convertible Note in 2022
CredPal is a financial platform that enables both businesses and individuals to make purchases and pay for them in installments at various online and offline merchants. Launched in 2018 by Fehintolu Olaogun and Olorunfemi Jegede, CredPal is headquartered in Lagos, Nigeria. The platform is designed to provide transparency and convenience, allowing users to set up their accounts and select payment plans that best suit their needs. By leveraging technology, CredPal minimizes risk and connects users with multiple financial institutions that offer credit. This service not only facilitates consumer access to credit for purchases but also empowers retail businesses to provide on-demand credit options to their customers.

MarketForce

Series A in 2022
MarketForce is a technology company based in the US, Kenya, and Nigeria, focused on creating a comprehensive SuperApp for Africa's merchants. Through its B2B commerce and fintech platform, known as "RejaReja," it enables over 200,000 merchants across Sub-Saharan Africa to digitally source and order inventory, make payments, and access financing. The platform also allows merchants to generate additional income by reselling digital financial services, including airtime and bill payments. Founded in 2018 and supported by Y Combinator, MarketForce operates in five markets and employs an asset-light business model. Additionally, it offers tools for sales and distribution automation, empowering field agents to efficiently record activities and collect data in real-time using mobile devices. This integration enhances the overall efficiency and productivity of businesses in the region.

Treepz

Seed Round in 2021
Treepz is a transportation technology company that aims to improve commuting in Africa. Founded in 2019 and headquartered in Ontario, Canada, it operates in Nigeria, Ghana, Uganda, and Kenya. The company offers a transport-hailing application that provides users with access to various modes of transport, including vehicles, buses, and licensed drivers. This app enables users to book reliable and comfortable trips for daily, inter-city, or corporate commutes with ease. Additionally, Treepz incorporates features such as vehicle assistants and e-wallet payments, allowing for fast and convenient real-time transactions. By leveraging technology, Treepz seeks to create a safer and more efficient transportation system for its users across the continent.

MarketForce

MarketForce is a technology company based in the US, Kenya, and Nigeria, focused on creating a comprehensive SuperApp for Africa's merchants. Through its B2B commerce and fintech platform, known as "RejaReja," it enables over 200,000 merchants across Sub-Saharan Africa to digitally source and order inventory, make payments, and access financing. The platform also allows merchants to generate additional income by reselling digital financial services, including airtime and bill payments. Founded in 2018 and supported by Y Combinator, MarketForce operates in five markets and employs an asset-light business model. Additionally, it offers tools for sales and distribution automation, empowering field agents to efficiently record activities and collect data in real-time using mobile devices. This integration enhances the overall efficiency and productivity of businesses in the region.
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