CYTO, an Angola-based fintech startup focused on business process automation and financial management, has secured a significant funding boost through the Catalytic Africa matching fund programme after receiving a $22,000 angel investment from a member of the Cape Verde Business Angels Association (ABAC).
The investment highlights the growing role of innovative funding mechanisms in bridging the financing gap faced by startups operating outside Africa’s traditional venture capital hubs. Through the Catalytic Africa co-investment model, qualifying angel investments are matched with additional catalytic capital to increase the amount of funding available to promising early-stage businesses.
As a result of the ABAC-backed investment, CYTO unlocked a further $40,000 in matching funds, comprising $20,000 from investors within the African Business Angel Network (ABAN) and $20,000 from timbuktoo, the continent-wide entrepreneurship initiative supported by the United Nations Development Programme (UNDP). The additional funding brings the total catalytic capital injected into the startup to $40,000, strengthening its ability to scale operations and enhance its technology platform.
Expanding Access to Startup Capital Across Africa
According to Fadilah Tchoumba, Chief Executive Officer of ABAN and Fund Manager of Catalytic Africa, the programme was established to address disparities in startup funding across the continent.
She emphasized that entrepreneurial talent exists across all African markets and that a startup’s geographic location should not determine its ability to access investment. Through Catalytic Africa, local angel investments are amplified by additional capital, enabling investors to support promising startups in underserved markets while fostering innovation, economic inclusion, and job creation.
Tchoumba noted that initiatives such as Catalytic Africa are helping to create a more equitable investment landscape where startup success is determined by business potential rather than proximity to established venture ecosystems.
CYTO Among Startups Benefiting from Catalytic Africa
CYTO is one of four startups from Angola, Zambia, and Cameroon selected to benefit from Catalytic Africa’s matching fund model. Collectively, these companies have secured $189,238 in co-investment funding, with ABAN angel investors contributing $109,238 and timbuktoo providing an additional $80,000.
The programme’s broader impact has been substantial. To date, local angel investors across participating ecosystems have deployed approximately $1.6 million into innovative African startups, while Catalytic Africa has matched investments with a further $1.5 million in catalytic funding.
Building Financial Infrastructure for African Businesses
Founded in 2024, CYTO is headquartered in Luanda, Angola, with additional operations in Paris and New York. The company was established to solve a common challenge faced by many African businesses: fragmented financial and administrative systems.
Many enterprises still manage invoicing, banking records, tax submissions, supplier validation, and transaction reconciliation through disconnected processes, leading to inefficiencies, higher compliance costs, and administrative delays.
To address these challenges, CYTO has developed an integrated platform that automates and streamlines:
- Invoice management
- Supplier verification
- Transaction reconciliation
- Financial reporting
- Tax compliance processes
By consolidating these functions into a single workflow, the platform enables businesses to reduce manual work, improve compliance, and enhance operational efficiency.
Experienced Founding Team
The company was co-founded by Joachim Valot, a French-Angolan entrepreneur with experience in private banking and asset management, alongside Tamara Lerner and Thiebault Husson.
Since its launch, CYTO has built an impressive track record within the African innovation ecosystem. The startup has:
- Been incubated by the Lagos Fintech Hub
- Joined the UNDP x timbuktoo FinTech Accelerator
- Won the EMIS C.ID National Innovation Competition
- Been selected for the inaugural ESSEC Incubator programme at Station F, Europe’s largest startup campus
These achievements have helped position the company as one of Angola’s emerging technology success stories.
Strong Revenue Growth and Market Traction
Beyond recognition from innovation programmes, CYTO has also demonstrated encouraging commercial progress.
The company reports having generated more than €110,000 in cumulative revenue, with recurring monthly revenue reaching approximately €9,000. Its automation platform has delivered measurable efficiency gains for clients, reducing certain tax-submission processes from as long as a week to just a single day.
This operational impact is becoming increasingly important as governments across Africa accelerate digital transformation initiatives and strengthen financial reporting requirements.
Overcoming the Funding Bias Faced by Emerging Markets
Speaking about the fundraising journey, CEO Joachim Valot highlighted a challenge frequently encountered by startups operating outside Africa’s more established venture capital centres.
According to Valot, investors often hesitate to allocate capital to companies from markets with limited startup funding track records, making it more difficult for founders in countries such as Angola to attract investment despite having viable products and strong growth prospects.
He noted that programmes like timbuktoo and Catalytic Africa play a crucial role in helping startups overcome these barriers by validating business models and providing access to growth capital that might otherwise remain unavailable.
Supporting the Next Phase of Growth
The newly secured funding will enable CYTO to strengthen its technology platform and expand its customer base as Angola advances the implementation of mandatory electronic invoicing systems.
The startup also plans to broaden its capabilities by integrating:
- Open banking infrastructure
- Cross-border payment solutions
- African Continental Free Trade Area (AfCFTA)-compliant tools
- Pan-African Payment and Settlement System (PAPSS) compatible services
These enhancements are expected to position CYTO as a key enabler of digital financial operations for businesses operating both within Angola and across African markets.
As demand grows for automated compliance, digital payments, and streamlined financial management solutions, CYTO’s latest funding round provides the resources needed to accelerate product development and capitalize on the continent’s rapidly evolving digital economy.
