Startup Wise Guys Raises €25M in Funding

Startup accelerator and early-stage investor Startup Wise Guys closed the first €25m of €45m that will be used across its various geographies and vertical-focused funds to support its new strategy focused on global markets that remain underserved by capital investment.

With the funds, it will invest in a minimum of 200 startups from mostly across Europe and Africa in 2023/24, after making 120 investments in 2022. 

The new funds will allow Startup Wise Guys to intensify its investment and expansion in underfunded markets and expand its presence in Europe and Africa. Recent office openings in Italy and Spain enable it to reach more founders in Southern and Western Europe, as well as in Latin America and North Africa. In Spain, where it established its latest office in Bilbao in November 2022, Startup Wise Guys aim to solidify its standing in early-stage venture capital and replicate its success in Italy. Additionally, the accelerator continues to grow its African programs across the continent.

The company will not only prioritise acceleration investments and follow-ons but also a direct investment into growth-stage companies. Notable past direct investments include mobility unicorn Bolt, car subscription service Planet42, and Katana, a manufacturer’s ERP solution.

Led by Cristobal Alonso, Global CEO, Startup Wise Guys is one of the most active accelerator funds in Europe and Africa, with 350+ investments in early-stage startups in B2B SaaS, Fintech, cybersecurity, XR, and sustainability in more than 60 countries. The accelerator manages vertical-focused accelerator programs from offices in Tallinn, Milan, Bilbao, and Malaga, with strong representation in countries such as Denmark, Romania, Turkey, and others. With a significant additional presence in the Nordics, Spain, Poland, Ukraine, Africa, and the Balkans, SWG aims to become the go-to accelerator program and investor for any B2B startup looking to scale globally.

In 2022, Startup Wise Guys executed 120 early-stage investments, managed 12 full-time programs, and introduced its first B2B digital SaaS program exclusively for African startups. They also launched an accelerator program focused on XR in Malaga, Spain. The accelerator fund also operates programs based out of Europe in the areas of SaaS, fintech, cyber security, and sustainability. As of the end of January this year, Startup Wise Guys had already made 12 investments.

The portfolio boasts startups such as Ready Player Me, Kevin, StepShot, and Ondato. A number of globally renowned investors have joined its portfolio investments, including A16Z, Accel, Lead ventures, Northzone, and AV8

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Nichole Manhire

Is the media and brand manager at GFA News. She works very closely with editors and podcasters that contribute to telling the African business success story. For marketing and advertising send Nichole an email:

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