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Funding
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Funding announcements by startups across Sub-Sahara Africa that matter.
Egyptian social e-commerce startup, Taager raises $6.75m pre-series B
Taager, the leading social e-commerce platform for the MENA region has announced a close of a $6.75m Pre-Series…
Ghana’s Affinity Africa secures $8m seed fund to expand its digital banking offerings
Ghanaian fintech Affinity Africa has raised $8 million in seed funding to expand its financial products further across…
Nigerian fintech Raenest raises $11m in QED led Series A funding, total funding now $14.3 million
Lagos-based Raenest, a fintech company facilitating payments for remote workers, has raised $11 million in Series A funding,…
Nigeria’s LemFi leads as African startups raised $289 million in January 2025
More than 90% of the funding raised by African startups last month came as equity
Equity funding constitutes 58% of $1.03 bn invested in African fintech startups in 2024
Equity funding decline is a worry in Africa
Investors’ interest in African tech startups hit 4-year low in 2024
One reason for this decline in investor interest is because of the new focus on AI startups
Fintechs rule: Moniepoint, Tyme, others raised 47% of $2.2bn African startup funding in 2024
The African fintech sector rallied late with two mega deals by Moniepoint and TymeBank
Startup funding: Kenya is Africa’s most preferred destination in 2024
Despite not minting any new unicorns, Kenya enjoyed a great deal of funding success in 2024
Despite 2 new unicorns, venture funding into Africa declined by 25% in 2024
Another reason for the decline in venture funding is attributable to a decline in debt financing
Cassava Technologies secures $310 million in debt and equity funding to boost digital inclusion
Cassava Technologies prides itself as a global technology leader "of African heritage."