African technology startups are increasingly turning to equity-free funding as founders seek alternative sources of capital without giving up ownership of their businesses.
Although Africa’s technology ecosystem attracted about $4.1 billion in funding in 2025, the Partech Africa Tech Venture Capital Report showed that much of the growth was driven by debt financing, which rose by 63 per cent, while equity funding recorded a modest eight per cent increase.
Against this backdrop, cryptocurrency payment platform Breet partnered with the Africa Technology Expo to launch a $10,000 equity-free grant programme aimed at supporting fintech, cryptocurrency, stablecoin and digital payment startups across Africa.
Under the initiative, five shortlisted startups pitched their innovations during the Africa Technology Expo in Lagos, with two entrepreneurs emerging as winners and receiving $5,000 each.
The beneficiaries, Great Igbokwe and Faith Daunimigha, were selected after presenting technology solutions designed to address key challenges in education financing and digital commerce.
Igbokwe, founder of TIDE Foundation and RaisED, is developing a platform that connects students with private-sector and donor funding to support higher education. The initiative is designed to channel financial assistance directly to university bursary accounts.
Daunimigha’s startup, OWEIBOT, enables small businesses to build websites and automate customer interactions through WhatsApp, allowing merchants to receive and process orders without investing in complex e-commerce infrastructure.
Beyond financial support, the programme also provided participating startups with access to Breet’s payment infrastructure, including its application programming interface (API), technical support and integration tools.
The API enables businesses to incorporate cryptocurrency payments, wallet creation, stablecoin conversion and settlement into local currencies, helping startups expand their payment capabilities.
Breet Chief Operating Officer Vivian Mbene said the company evaluated applicants based on their products, proposed integrations and practical use cases before selecting the finalists.
“Founders today need more than funding. They need infrastructure that works, faster routes to market and access to the right commercial networks,” she said.
Applicants were required to have a live or near-live product and demonstrate how Breet’s API could enhance their services. They were also expected to meet business registration, compliance and customer verification requirements before gaining access to the platform.
Industry observers say the initiative reflects a growing trend toward non-dilutive funding models that allow startups to scale without surrendering equity, while also providing access to technology infrastructure and strategic partnerships essential for long-term growth.
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