Building in emerging markets is not for the faint of heart. The challenges are real, from regulatory uncertainty and fragmented infrastructure to unpredictable consumer behavior. But so are the opportunities.

A lot of startup advice is built around stable environments where infrastructure works, capital flows easily, and customers are already primed for digital adoption. That is not the reality in most emerging markets. Here, founders do not just build products. They navigate shifting regulations, educate skeptical customers, and sometimes even create the infrastructure they need to operate.

We saw firsthand how building across emerging markets faced similar struggles—navigating unpredictable regulations, building trust with skeptical customers, and making every dollar count.

Despite these challenges, we made major strides:

  • 7x revenue growth
  • Customer base tripled
  • Transaction volume up 8x
  • 0% churn rate
  • Two key licenses secured
  • Two new products launched

But looking back, there are things we’d do differently, things that could have made growth faster, less painful, and more strategic. If you’re building in an emerging market, our CEO, Okiemute D Avworhokai shares some lessons you can take away to build smarter, move faster, and avoid painful missteps.

Lesson 1: Stop Waiting for the Perfect Moment

A common trap in emerging markets is delaying growth while waiting for the right conditions. The right licenses, the right infrastructure, the right funding. The truth is that moment never comes.

Regulations change overnight. Banking partnerships fall through. Infrastructure gaps force constant workarounds. The startups that survive are the ones that start with what they have and figure it out along the way.

What Founders Can Do Instead

  • Launch with a limited version. Instead of holding off until everything is built, test demand with a lightweight offering. If expansion depends on licensing, start with features that do not require approval and add layers over time.
  • Leverage existing networks. If direct access to a market is not possible yet, work with local players who already have regulatory clearance or distribution reach. Many fintech startups partner with licensed banks to get to market faster instead of waiting years for their own approvals.
  • Date your idea, don’t marry it. Early on, treat everything as a hypothesis, test, iterate, and pivot quickly. Gather real feedback and stay flexible. Only say ‘I do’ once you’ve truly found product–market fit
  • Focus on traction over perfection. Investors and customers do not expect a flawless product. They expect proof that people want what you are building. A rough, working product with paying users is more valuable than a polished one that is still stuck in development.

Lesson 2: Build Revenue Streams Early

Relying on a single, long-term product vision is risky. Market shifts, funding delays, or regulatory blockers can stall momentum. Without revenue, that can be a death sentence.

Many successful emerging market startups build secondary revenue streams early. Not as distractions, but as a way to keep the business running while the core product matures.

How Founders Can Build Smarter Revenue Streams

  • Monetize what is already built. If your startup has developed internal tools such as payment processing, fraud detection, or logistics tracking, consider offering them as services to other businesses. This brings in revenue without diverting too much focus.
  • Launch simpler, complementary products. If your main offering is complex or dependent on regulatory approval, start with a simpler product that solves a related problem. A lending startup might begin with financial education tools before rolling out full lending services.
  • Diversify pricing models. Many startups wait too long to experiment with pricing. Transaction fees, subscriptions, and usage-based pricing provide a steady revenue stream while the product evolves.

Lesson 3: Be Focused, But Not Rigid

The idea that startups must stay laser-focused on a single goal is popular in Silicon Valley. In emerging markets, that kind of tunnel vision can backfire. Conditions change too fast, and companies that cannot adapt get left behind.

This does not mean chasing every new opportunity, but it does mean being willing to shift strategy when necessary.

How Founders Can Stay Agile Without Losing Focus

  • Track data, not assumptions. Early-stage startups often stick with a strategy because it "should" work. Instead, look at what is actually driving results. If a customer acquisition channel, feature set, or market approach is not working, adjust quickly.
  • Explore different customer segments. The ideal customer profile at launch is not always the one that scales. Some B2C startups pivot to B2B when they realize businesses have stronger demand. Others shift from small businesses to enterprises when they see more spending power.
  • Be willing to kill ideas that do not work. Holding onto failing strategies just because they were part of the original vision is a fast way to burn cash and time. Make decisions based on what is moving the business forward, not on sunk costs.

Reality Check: What It Takes to Build Here

Startups in emerging markets deal with challenges that are not always talked about in mainstream tech circles. Here is what is actually required to build successfully.

  • Financial discipline. Fundraising is never guaranteed, and burn rates need to be tightly controlled. The companies that survive are the ones that manage cash well, not just the ones that raise big rounds.
  • Trust-building with customers. In markets where consumers are skeptical of digital services, growth is as much about education as it is about acquisition. Startups need to invest in credibility, transparency, and relationship-building.
  • Regulatory navigation. Government policies can shift with little notice, and compliance is not optional. Startups that plan for regulatory complexity from day one avoid painful setbacks later.
  • Balancing speed with sustainability. Blitzscaling can work in some markets, but in places where infrastructure is unpredictable, it is easy to grow too fast and break things that are hard to fix. Sustainable growth beats reckless scaling.

Final Thoughts: How to Win in 2025

The best startups in emerging markets are not the ones that wait for conditions to improve. They are the ones that move fast, make smart bets, and adjust as needed.

If you are building in 2025, focus on:

  1. Getting started with what you have. If you wait for the perfect conditions, you will always be waiting.
  2. Building revenue streams early. Cash flow gives you leverage and longevity.
  3. Staying flexible. The best opportunities often are not the ones you planned for.

Emerging markets are full of potential, but they reward the founders who know how to move through uncertainty.