DFS Lab is a research-driven early-stage venture capital firm that invests in founders building the future of digital commerce and financial services in Africa. While its investment focus is exclusively on African markets and African founders, the firm is headquartered in the United States (San Francisco), with additional offices in Paris, Lagos, Nairobi, and New Delhi.
38% of their portfolio is in Fintech. They made 1 investment in the last 12 months. Their most common stage is pre-seed (50% of deals). Average disclosed round size is $4.0M (across 15 rounds with reported amounts).
Portfolio
13
Fund Size
—
Top Stage
Pre Seed
Last 12 Mo
1
Team
Portfolio Breakdown
Stage Distribution
Sector Distribution
Investment Activity
DealsAvg Round Size
Portfolio
16 investments
| Company | Round | Amount | Date |
|---|---|---|---|
 Terra Industries | Pre-Seed | $11.8M | Jan 2026 |
| CChecker Corp | Unknown | $8M | Jan 2026 |
| CChecker Corp | Seed | $8M | Jan 2026 |
 Turnstay | Pre-Seed | $300K | Jul 2024 |
| Turnstay | Pre-Seed | $300K | Jan 2024 |
 Cutstruct | Pre-Seed | $600K | Nov 2022 |
 Nala | Seed | $10M | Jan 2022 |
 Tushop | Pre-Seed | $3M | Jan 2022 |
 Appetito | Series A | $2M | Nov 2021 |
 OnePipe | Seed | $3.5M | Jan 2021 |
 Bumpa | Pre-Seed | $200K | Jan 2021 |
| TTaniGroup | Series A | $10M | May 2019 |
 Borderless AI | Pre-Seed | $500K | — |
 TopUp Mama | Seed | $1.7M | — |
 Pastel | Seed | — | — |
| Pastel | Pre-Seed | $620K | — |
Top Co-Investors
Golden Palm Investments3 shared
Jedar Capital2 shared
JAM Fund2 shared
Digital Currency Group2 shared
Techstars2 shared
Framework Ventures2 shared
Galaxy Ventures2 shared
MESH2 shared
Bitso2 shared
Plug and Play Tech Center2 shared
8VC1 shared
Fortino Capital1 shared
Altos Ventures Management, Inc.1 shared
Lux Capital1 shared
Valor Equity Partners1 shared
SV Angel1 shared
Amplo1 shared
Accel1 shared
Bessemer Venture Partners1 shared
Intudo Ventures1 shared
Last updated: 7 October 2026