African Founders Raise $9M for New AI Startup
From $120M Exit to AI-Powered Software Testing
Karim Jouini and Jihed Othmani, the African entrepreneurs behind Expensya’s $120 million acquisition in 2023, have returned to the startup scene with Thunder Code – a generative AI-powered software testing platform that just secured $9 million in seed funding.
The Comeback of Seasoned Founders
Despite their initial retirement plans after Expensya’s success, the founders found themselves drawn back by the potential of AI technology. “It’s like having a second child – you forget how hard the first was,” Jouini told TechCrunch. “We’re convinced this is unicorn material.”
How Thunder Code Disrupts Software Testing
The new startup addresses a universal pain point in software development:
- AI “agents” that simulate human testers
- Automated detection of UI/UX issues
- Machine learning capabilities that improve with feedback
Jouini leveraged his experience integrating multiple companies at Medius to identify testing as a prime opportunity for AI automation in the $100 billion software testing market.
Why Investors Are Betting on Thunder Code
The $9 million seed round includes:
- Previous Expensya backers like Silicon Badia
- Prominent angels including Instadeep CEO Karim Beguir
- Former Expensya employees who cashed out during the acquisition
“Some of our investors are actually Expensya employees,” Jouini noted, highlighting the team’s track record.
Competitive Edge in a Crowded Market
While competitors like UIPath and Jetify have entered the AI testing space, Thunder Code differentiates through:
- Blistering execution (MVP shipped in 6 weeks)
- Co-founder Othmani’s deep generative AI expertise
- Plans to expand beyond web apps to mobile and API testing
The company currently serves customers across North America, Europe, and Africa from its Paris and Tunis offices.
The Future of AI-Powered Development
Jouini believes their AI approach will deliver 10x efficiency with leaner teams, reflecting a broader industry shift. “We’re focused on creating value, not preserving equity,” he stated, referencing their willingness to dilute for top talent.
With the software testing market projected to grow significantly and legacy players slow to adapt, Thunder Code positions itself as the agile, AI-native solution for modern development teams.