About Base Capital
Base Capital is a venture capital firm founded in 2015. It is primarily based out of Cape Town, South Africa. As of Jan 2025, Base Capital has invested in 20 companies. It primarily invests in Seed round in South Africa based startups. Its investments are spread across a wide range of sectors from FinTech to Enterprise Applications and Food and Agriculture Tech. Most recently it participated in the $***** Seed round of Kapu Overall, Base Capital portfolio has seen 1 unicorn and 1 acquisition, namely Wave Systems and BVNK. A lot of funds co-invest with Base Capital, with names like The Raba Partnership sharing a substantial percentage of its portfolio. Base Capital has team of 5 people including 1 partners.Key Metrics
Team Members
Portfolio Count
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Seed, Series A & 1 more
Portfolio Acquisitions
Portfolio Unicorns
Portfolio Soonicorns
Base Capital's List of Top Investments
Base Capital has a portfolio of 20 companies, one of which is a Unicorn. Their most notable investments are in Real Time Medical Systems and Kwara.Their portfolio spans across South Africa, Australia, United States and 4 more locations. They have invested in FinTech, Enterprise Applications, Food and Agriculture Tech and 11 other sectors, across stages such as Seed, Series A and 1 more. Here is the list of top investments by Base Capital:
1. Wave Systems
App-based wallet for cross-border money transfers. It offers services such as deposit and withdrawal, bill payments, mobile recharge, and more. App is available on iOS and Android devices.
Key facts about Wave Systems
- Founded Year: 1996
- Location: Lee (United States)
- Valuation: $*****
- Stage: Late Stage
- Total Funding till date: $326M
- Employee Count: 41 as on Feb 28, 2026
- Investors: Glynn Capital, Royal Bank of Canada and 30 Others
- Latest Funding Round: Conventional Debt, Jun 30, 2025, $*****
- Highlight: Editors' Pick
2. BVNK
Online platform offering multiple crypto services. It allows users to send payments on all payment schemes and blockchain networks, trade in and out of positions inside the platform, earn returns on all assets held on the platform through yield solutions, and more.
Key facts about BVNK
- Founded Year: 2016
- Location: London (United Kingdom)
- Annual Revenue: £7.34M as on Feb 28, 2022
- Last Known Valuation: $*****
- Stage: Acquired
- Total Funding till date: $93.2M
- Employee Count: 448 as on Feb 28, 2026
- Investors: Avenir Growth Capital, Tiger Global Management and 45 Others
- Latest Funding Round: Series B, Oct 09, 2025, $*****
- Highlight: Acquired
3. thndr
Broker-based online platform for trading stocks. It allows users to buy, sell, and trade equities through app-based platforms. It offers simulators, alerts, signals, indicators, and news updates to assist in trading activities. Its application can be accessed on iOS and Android devices.
Key facts about thndr
- Founded Year: 2020
- Location: Cairo (Egypt)
- Stage: Series A
- Total Funding till date: $37.8M
- Employee Count: 66 as on Jul 01, 2024
- Investors: Prosus, Tiger Global Management and 13 Others
- Latest Funding Round: Series A, May 17, 2025, $*****
- Highlight: Editors' Pick
4. Stitch
Provider of payment gateway and API products for online payments. The company offers tools for in-person payments via an API and terminal management system. It facilitates payouts, payment orchestration, and various payment methods. The company provides solutions for unified commerce, collections, and account top-ups. It also offers card acquiring and embedded fraud solutions.
Key facts about Stitch
- Founded Year: 2019
- Location: Cape Town (South Africa)
- Stage: Series B
- Total Funding till date: $109M
- Employee Count: 181 as on Mar 31, 2026
- Investors: Glynn Capital, Ribbit Capital and 56 Others
- Latest Funding Round: Series B, Mar 25, 2025, $*****
- Highlight: Editors' Pick
5. Superscript
Online insurance platform for small businesses and freelancers. It offers coverage for public liability insurance, product liability insurance, employers liability insurance, business contents insurance, errors and omissions insurance, professional indemnity insurance, cyber insurance, and more. It offers insurance for the fintech industry, med-tech industry, retail, and e-commerce industry.
Key facts about Superscript
- Founded Year: 2015
- Location: London (United Kingdom)
- Valuation: $*****
- Stage: Series B
- Total Funding till date: $79.8M
- Employee Count: 113 as on Mar 31, 2026
- Investors: The Hartford, Lloyd’s Lab Accelerator and 22 Others
- Latest Funding Round: Series B, Jan 09, 2023, $*****
- Highlight: Editors' Pick
Base Capital's Year-on-Year Investment Trends
Base Capital has invested in 20 companies over the last 5 years, with an average of 2 new investments annually in the last 5 years. In 2025, it made 1 investment. Its most recent first time investment was in Kwara and most recent follow-on round was in Kapu.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 0 | 0 | 0 |
2025 | 0 | 1 | 1 |
2024 | 0 | 0 | 0 |
2023 | 1 | 1 | 2 |
2022 | 5 | 0 | 5 |
2021 | 4 | 0 | 4 |
Base Capital's Investments by Stage
Base Capital has made 5 investments in Seed stage with an average round size of $4.1M, 4 investments in Series A stage with an average round size of $19.6M and 1 investment in Series C stage with an average round size of $20M.Stage of entry | No. of Investments |
|---|---|
Seed | 5 |
Series A | 4 |
Series C | 1 |
Note: We have considered here, only first round of investments
Base Capital's Investments by Sector
Base Capital has a diverse portfolio, with companies operating in the Enterprise Applications, FinTech, Consumer, Food and Agriculture Tech and Vertical SaaS. Notably, it has invested in 18 Tech companies, 14 Enterprise (B2B) companies, 11 Software companies and at least 7 companies focusing on Consumer (B2C).Sector | No. of Investments |
|---|---|
Enterprise Applications | 5 |
FinTech | 5 |
Consumer | 4 |
Food and Agriculture Tech | 3 |
Vertical SaaS | 3 |
Others | 9 |
Note: We have considered here, only first round of investments
Base Capital's Investments by Geography
Base Capital has made most investments in South Africa (4), followed by United States where it has made 2 investments.Country | No. of Investments |
|---|---|
South Africa | 4 |
United States | 2 |
Australia | 1 |
Egypt | 1 |
Kenya | 1 |
Others | 1 |
Note: We have considered here, only first round of investments
Base Capital's recent investments
Base Capital has not made any investment in 2026 so far.Here are the most recent investments by Base Capital:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Jan 27, 2025 | United States | Seed | 2273 | [+5] | |
Jan 30, 2023 | Australia | Series B | 1400 | [+2] | |
Jan 15, 2023 | Kenya | Seed | 8771 | [+7] | |
Dec 04, 2022 | United States | Seed | 5954 | [+7] | |
May 17, 2022 | South Africa | Seed | 9704 | [+2] |
Unicorns in Base Capital's Portfolio
Base Capital has 1 unicorn in its portfolio - Wave Systems. The most recent unicorn in their portfolio is Wave Systems which became a unicorn in 2021, 4 years before Base Capital first invested in it.Here is a list of unicorns in Base Capital's portfolio:
Tracxn Score | Company | Short Description | Founded year | Sector | Location | Company Stage | First Investment/ Acquisition Details |
|---|---|---|---|---|---|---|---|
74 | App-based wallet for cross-border money transfers | 1996 | Lee | Late Stage | ileusuh |
Acquired companies in Base Capital's Portfolio
1 company from Base Capital's portfolio has been acquired. The most recent acquisition were BVNK in Mar 2026 by Mastercard for $1.8B.Here are Base Capital's portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Mar 17, 2026 | Apr 25, 2022 | Series A | 2781 |
Team profile of Base Capital
Base Capital has a team of 5 members located in South Africa. Base Capital's team does not sit on the board of any company as of now.Co-investors of Base Capital
Over the past 5 years, 69 investors have co-invested in Base Capital's portfolio companies. This includes funds and angels.
- Invested before Base Capital: Y Combinator, SunBridge Capital Management and 13 others have invested in rounds before Base Capital. There are 2 companies where Y Combinator has invested before Base Capital and 1 company where SunBridge Capital Management has invested before Base Capital.
- Top Co-investors of Base Capital: 38 investors entered a company along with Base Capital. These include investors like The Raba Partnership (4 companies).
- Invested after Base Capital: A total of 16 investors have invested in Base Capital's portfolio after their investments. Top Investors include Haun Ventures (1 company), Coinbase (1 company) and Scribble Ventures (1 company).
Recent News related to Base Capital
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Kapu Raises Funding to Expand Low-Cost E-commerce in AfricaTechMoran•Jan 27, 2025•Kapu, BlackWood, Giant Ventures, Firstminute Capital and 4 others
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Kwara of Kenya Raises $3m in Equity to Boost Technology for SACCOs, Acquires KUSCCO Software SubsidiaryMicroCapital•Feb 15, 2023•Kwara, DOB Equity, Globivest, Onedayyes and 7 others
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Catering marketplace FoodByUs raises $12 million in Series BStartup Daily•Jan 30, 2023•FoodByUs, Base Capital, FJ Labs, and 1 other
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Kenyan fintech startup Kwara raises $3m seed extension to help credit unions digitise their operationsTechpoint.Africa•Jan 16, 2023•Kwara, DOB Equity, Globivest, Breega and 7 others
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Insurtech Superscript starts year with £45m fundraiseUKTN•Jan 09, 2023•Superscript, Bharat Heavy Electricals, The Hartford, Concentric and 11 others
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Social commerce startup Kapu, by ex-Jumia executive, comes out of stealth with $8M fundingTechCrunch+•Dec 05, 2022•Kapu, Giant Ventures, Firstminute Capital, Founder Collective and 5 others
