FasterCapital Backs Softmide Tech’s Innovative AI-Driven Healthcare and Payment Platforms for Global Growth
Lagos, Nigeria & Dubai, UAE – July 15, 2025
Softmide technologies Limited, a pioneering software and IT solutions startup focused on AI-enabled e-commerce, healthcare, and payment platforms, today announced a strategic partnership with FasterCapital through its LaunchUp program. This collaboration aims to accelerate Softmide Tech’s market expansion across Africa and globally, leveraging FasterCapital’s global network, capital, and startup acceleration expertise to capitalize on booming digital markets.
Market Opportunity & Problem Statement
The African digital economy is undergoing rapid transformation, with the healthcare IT market projected to surge from USD 311.62 billion in 2022 to USD 1.1 trillion by 2030 at a CAGR of 19.9%. Simultaneously, Africa’s e-commerce user base is expected to exceed 500 million by 2025, growing at 17% annually, while the payments market is set to expand from USD 2.85 trillion in 2024 to USD 4.78 trillion by 2029. Despite this growth, fragmented payment systems, limited AI-driven healthcare information access, and underdeveloped e-commerce infrastructure remain significant challenges. Softmide Tech addresses these inefficiencies by delivering integrated, AI-powered software solutions tailored to African markets and beyond.
Startup Solution & Differentiation
Softmide Tech offers a suite of innovative products including an AI-enabled B2C e-commerce platform, an online health information center focusing on nutrition and mental health, and a cross-border payment system facilitating seamless bill payments and transfers across Africa and globally. Their hybrid business model combines SaaS subscriptions with transactional revenues, supported by mobile applications and reseller networks. By embedding AI features, Softmide enhances user experience and operational efficiency, setting it apart from competitors. Early traction includes growing user interest and strategic partnerships within Nigeria’s tech ecosystem, positioning Softmide as a future market leader in digital healthcare and payments.
FasterCapital Partnership Value
Through the LaunchUp program, FasterCapital provides Softmide Tech with critical resources including seed funding, technical mentorship, go-to-market strategy support, and access to a global investor network. Known for its rigorous selection process, FasterCapital partners exclusively with startups demonstrating strong innovation potential and scalable business models. This collaboration is designed to fast-track Softmide’s product development, market penetration, and capital raising efforts, targeting a $1 million funding round to fuel growth and regional expansion.
Executive Quotes
Hesham Zreik, Founder and CEO of FasterCapital, stated:
“Softmide Tech exemplifies the kind of visionary startup we seek to empower—combining cutting-edge AI technology with practical solutions that address pressing market gaps in Africa’s digital economy. Our LaunchUp program is proud to support Softmide’s journey toward transforming healthcare, e-commerce, and payments across the continent and beyond.”
Olatubosun Olamide Sebioniga, Founder and CEO of Softmide Tech Limited, commented:
“Our partnership with FasterCapital marks a pivotal milestone in realizing our vision to deliver innovative, AI-powered technology solutions that empower African businesses and consumers. With FasterCapital’s strategic guidance and resources, we are poised to accelerate our growth, expand our market reach, and create lasting impact in the healthcare and financial services sectors.”
Growth Trajectory & Future Plans
In the coming 12 months, Softmide Tech plans to finalize product development, expand its user base across Nigeria and neighboring countries, and scale its payment system infrastructure to support cross-border transactions. The startup aims to close a $1 million seed funding round to enhance AI capabilities, strengthen marketing efforts, and build strategic partnerships. Long-term, Softmide envisions becoming a leading technology provider that drives digital transformation across Africa’s healthcare, e-commerce, and payment ecosystems.
About Softmide Tech Limited
Founded in Nigeria, Softmide Tech Limited is a software and IT solutions startup dedicated to empowering businesses through AI-enabled e-commerce platforms, healthcare information centers, and innovative payment systems. The company combines deep tech expertise with a passion for innovation to create scalable solutions tailored for Africa’s dynamic markets.
About FasterCapital
FasterCapital is a global venture builder and online incubator dedicated to co-funding and co-founding innovative startups. Established in 2014, we are now #1 venture builder in terms of number of startups that we have helped, money invested and money raised. It supports startups worldwide through various programs, including funding assistance, business development, and technical support. The LaunchUp program is designed to help early-stage startups build scalable solutions with mentorship, strategic guidance, and network support.