About Musha Ventures
Musha Ventures is a venture capital firm founded in 2011. It is primarily based out of New York City, United States. As of Aug 2025, Musha Ventures has invested in 113 companies. It primarily invests in Seed round in United States based startups. Its investments are spread across a wide range of sectors from Enterprise Applications to FinTech and Consumer. Most recently it participated in the $***** Seed round of HoneyCoin Overall, Musha Ventures portfolio has seen 2 unicorns and 17 acquisitions including key companies like Flutterwave, ID.me and Chope. A lot of funds co-invest with Musha Ventures, with names like The Raba Partnership sharing a substantial percentage of its portfolio. Musha Ventures has team of 3 people including 1 partners.Key Metrics
Team Members
Portfolio Count
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Seed, Series B & 2 more
Portfolio Unicorns
Portfolio Soonicorns
Musha Ventures' List of Top Investments
Musha Ventures has a portfolio of 113 companies, including 2 unicorns. Their most notable investments are in WaystoCap and Ten To One.Their portfolio spans across United States, Nigeria, Kenya and 14 more locations. They have invested in Enterprise Applications, FinTech, Consumer, FinTech and 29 other sectors, across stages such as Seed, Series B and 2 more. Here is the list of top investments by Musha Ventures:
1. Flutterwave
Provider of payment solutions for online and physical business transactions. It offers tools for accepting payments, payouts, transfers, and creating online stores. The company provides application programming interfaces for developers to integrate payment functionalities. It also facilitates tuition payments and event ticket purchases.
Key facts about Flutterwave
- Founded Year: 2016
- Location: San Francisco (United States)
- Valuation: $*****
- Stage: Series E
- Total Funding till date: $489M
- Employee Count: 883 as on Jul 31, 2026
- Investors: Glynn Capital, Salesforce Ventures and 73 Others
- Latest Funding Round: Series E, Jul 07, 2026, $*****
- Highlight: Editors' Pick
2. Nomba
App-based payment acceptance solutions for SMBs. It offers solutions for payment tracking, payment management, payment acceptance, and more. It also offers invoice and inventory management solutions. The app is available for iOS and Android users.
Key facts about Nomba
Provider of payment gateway and payouts, and identity verification services. The company offers tools for businesses to collect payments, send payouts, manage international transactions, and verify customer identities. Payment solutions include payment links, forms, and international payment acceptance. Payout services facilitate instant money transfers to bank accounts, UPI IDs, cards, and wallets. Identity verification services automate KYC processes and fraud monitoring.
Key facts about Cashfree Payments
- Founded Year: 2015
- Location: Bengaluru (India)
- Annual Revenue: ₹500 - ₹1,000 Cr as on Mar 31, 2026
- Valuation: $*****
- Stage: Series C
- Total Funding till date: $100M
- Employee Count: 831 as on May 31, 2025
- Investors: Apis Partners, Trifecta Capital and 15 Others
- Latest Funding Round: Series C, Feb 05, 2025, $*****
- Highlight: Editors' Pick
4. Yoco
Provider of point-of-sale systems, card machines, and online payment solutions. The company offers tools for businesses to grow revenue and save time. Its products include card machines, point-of-sale systems, and online payment processing. It serves various industries, including food and beverage, retail, health and beauty, and services.
Key facts about Yoco
- Founded Year: 2015
- Location: Cape Town (South Africa)
- Stage: Series C
- Total Funding till date: $107M
- Employee Count: 552 as on Jul 31, 2026
- Investors: Dragoneer Investment Group, Globivest and 22 Others
- Latest Funding Round: Series C, Jul 27, 2021, $*****
- Highlight: Editors' Pick
5. ID.me
Cloud based secure identity management and authentication solutions, provider. It is a digital identity verification platform that provides a secure way for individuals to prove and share the identity online, offering a range of services including identity verification, authentication, and access to deals and benefits.
Key facts about ID.me
- Founded Year: 2010
- Location: Mclean (United States)
- Valuation: $*****
- Stage: Series E
- Total Funding till date: $619M
- Employee Count: 1,162 as on Jul 31, 2026
- Investors: CapitalG, Ares Capital Corporation and 36 Others
- Latest Funding Round: Series E, Sep 03, 2025, $*****
- Highlight: Editors' Pick
Musha Ventures' Year-on-Year Investment Trends
Musha Ventures has invested in 113 companies over the last 15 years, with an average of 4 new investments annually in the last 10 years. In 2025, it made 1 investment. Its most recent first time investment was in HoneyCoin and most recent follow-on round was in Omnibiz.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 0 | 0 | 0 |
2025 | 1 | 0 | 1 |
2024 | 4 | 0 | 4 |
2023 | 3 | 0 | 3 |
2022 | 5 | 2 | 7 |
2021 | 8 | 0 | 8 |
2020 | 7 | 2 | 9 |
2019 | 2 | 0 | 2 |
2018 | 3 | 0 | 3 |
2017 | 7 | 0 | 7 |
Musha Ventures' Investments by Stage
Musha Ventures has made 53 investments in Seed stage with an average round size of $2.12M, 2 investments in Series B stage with an average round size of $22M, 1 investment in Series A stage with an average round size of $6.6M and 1 investment in Series C stage.Stage of entry | No. of Investments |
|---|---|
Seed | 53 |
Series B | 2 |
Series A | 1 |
Series C | 1 |
Note: We have considered here, only first round of investments
Musha Ventures' Investments by Sector
Musha Ventures has a diverse portfolio, with companies operating in the Enterprise Applications, FinTech, Consumer, Retail and Vertical SaaS. Notably, it has invested in 102 Tech companies, 81 Enterprise (B2B) companies, 58 Software companies and at least 45 companies focusing on Consumer (B2C).Sector | No. of Investments |
|---|---|
Enterprise Applications | 26 |
FinTech | 22 |
Consumer | 12 |
Retail | 11 |
Vertical SaaS | 8 |
Others | 58 |
Note: We have considered here, only first round of investments
Musha Ventures' Investments by Geography
Musha Ventures has made most investments in United States (17), followed by Nigeria where it has made 10 investments.Country | No. of Investments |
|---|---|
United States | 17 |
Nigeria | 10 |
Kenya | 9 |
United Kingdom | 5 |
India | 4 |
Others | 13 |
Note: We have considered here, only first round of investments
Musha Ventures' recent investments
Musha Ventures has not made any investment in 2026 so far.Here are the most recent investments by Musha Ventures:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Aug 12, 2025 | United States | Seed | 4517 | [+6] | |
Sep 19, 2024 | Nigeria | Seed | 6380 | [+3] | |
Aug 27, 2024 | Kenya | Seed | 1601 | [+3] | |
May 24, 2024 | South Africa | Seed | 3007 | [+2] | |
Feb 22, 2024 | South Africa | Seed | 7856 | [+7] |
Unicorns in Musha Ventures' Portfolio
Musha Ventures has 2 unicorns in its portfolio - ID.me and Flutterwave. The most recent unicorn in their portfolio is ID.me. It became a unicorn in 2021, 9 years after Musha Ventures first invested in it.Here is a list of unicorns in Musha Ventures' portfolio:
Tracxn Score | Company | Short Description | Founded year | Sector | Location | Company Stage | First Investment/ Acquisition Details |
|---|---|---|---|---|---|---|---|
72 | Cloud based secure identity management and authentication solutions provider | 2010 | Mclean | Series E | ecixgob | ||
83 | Provider of payment solutions for online and physical business transactions | 2016 | San Francisco | Series E | fzdmbfv |
Acquired companies in Musha Ventures' Portfolio
17 companies from Musha Ventures' portfolio have been acquired. The most recent acquisition was Chope in Jul 2024 by Grab for $*****.Here are Musha Ventures' portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Jul 22, 2024 | 2011 | Seed | 1878 | |
Apr 29, 2024 | 2012 | Seed | 5009 | |
Sep 26, 2023 | Jul 20, 2021 | Seed | 7696 | |
Aug 05, 2022 | - | - | 1828 | |
Apr 28, 2022 | - | - | 4262 |
Team profile of Musha Ventures
Musha Ventures has a team of 3 members located in United States. Musha Ventures' team does not sit on the board of any company as of now.Co-investors of Musha Ventures
Over the past 15 years, 575 investors have co-invested in Musha Ventures's portfolio companies. This includes funds and angels.
- Invested before Musha Ventures: Y Combinator, Antler and 114 others have invested in rounds before Musha Ventures. There are 7 companies where Y Combinator has invested before Musha Ventures and 2 companies where Antler has invested before Musha Ventures.
- Top Co-investors of Musha Ventures: 196 investors entered a company along with Musha Ventures. These include investors like The Raba Partnership (5 companies).
- Invested after Musha Ventures: A total of 263 investors have invested in Musha Ventures's portfolio after their investments. Top Investors include Y Combinator (4 companies), Visa (3 companies) and BoxGroup (2 companies).
Recent News related to Musha Ventures
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Honeycoin Raises $4.9M To Drive Stablecoin Payments In AfricaChief Information Officer Africa Ltd•Aug 12, 2025•HoneyCoin, Flourish, TLcom, Visa and 7 others
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Jem Hr Closes $3m In Pre-series A Funding To Accelerate Growth And Product Developmenttechbuild.africa•Mar 25, 2025•Jem, Next176, Old Mutual, E4EAfrica and 5 others
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Kenya's Sukhiba Connect raises $1.55M seed extension round for expansionTechpoint.Africa•Aug 27, 2024•Sukhiba, Accion, Musha Ventures, Quona and 2 others
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South African Fintech Startup Orca Secures $550K Pre-Seed Funding to Tackle Emerging Market FraudTechSpace Africa•Jun 05, 2024•Orca, Norrsken22, First Circle Capital, Musha Ventures and 1 other
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Orca Fraud Raises $550k to Fight Fraud in Emerging MarketsFintech Finance•May 24, 2024•Orca, Norrsken22, First Circle Capital, Musha Ventures and 2 others
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Hohm Energy Raises $8 Million to Scale Adoption of Rooftop Solar across South AfricaTech Labari•Mar 25, 2024•Hohm Energy, E3 Capital, 4DX Ventures, Breega and 5 others
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Hohm Energy Breaks Records: $8 Million Seed Funding To Power Solar Revolution In South AfricaSolarQuarter•Feb 27, 2024•Hohm Energy, E3 Capital, 4DX Ventures, Breega and 7 others
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Kenyan B2B electronic spare parts startup Revivo raises $635k pre-seed fundingDisrupt Africa•Jul 03, 2023•Revivo, The Raba Partnership, Village Global, Musha Ventures and 1 other
