African Startups Funding Trend (2015-2025)

Startups across Africa raised over $1.4 billion in the first half of 2025, according to the latest Africa: The Big Deal report.

However, has this story been the same over the last ten years?

It comes from Africa: The Big Deal report, last updated at the close of H1 2025.

2015 to 2018 was about a slow start, as funding was tiny ($129 million to $334 million)
2019 was the breakthrough year when startup funding in Africa jumped to $1.4 billion.
The golden era was when funding peaked at $4.6 billion (2022).
Overall, African startup funding has grown by 600% from 2015 to 2025 (H1).
Nigeria, Kenya, Egypt, and South Africa dominate funding, accounting for over 80% of all funding.

In 2019, African startups raised $1.4 billion, which exceeded the billion-dollar milestone for the first time.

This was the breakthrough moment. Major international VCs started taking Africa seriously, and the Fintech boom was in full swing.

In 2020, despite the pandemic challenges, the continent still demonstrated remarkable resilience, raising about $1.1 billion.

In 2021, startups raised $4.3 billion across 818 deals, indicating a massive growth period.

It was a post-COVID investment surge where mega-deals dominated, including those involving Flutterwave and OPay.

What changed in 2019?

Fintech dominated funding during this time, especially in Nigeria and Kenya.

2022 broke the record again with $4.6 billion raised in more than 1,100 deals. The confidence of the investors improved.

Africa became one of the fastest-growing startup regions worldwide.