Fundraising in African Start-ups

For 2019, the firm Partech Africa has identified 2.020 billion dollars of funds raised in technology in Africa, a growth of 74% over one year. The number of funds raised is also increasing sharply (+52%). 234 startups were involved, with more than 158 rounds of financing, thus surpassing the record of 1.16 billion dollars raised in 2018. The trend is growing in Nigeria and Kenya, but also in countries such as Ghana and Uganda, which were the two big revelations, in terms of their startups fundraising startups in 2019. In the first quarter of 2018 alone, already a total of 118 transactions had been completed for a total of $168.6 million in financing. This was more than for the whole year of 2017, when African startups raised $167.7 million (a figure already 28% higher than in 2016), according to the Global Tech Media Wee Tracker report 2018.

FineTech, the best-financed segment

Of all African start-ups, those operating in the FineTech segment were the most funded in 2019, with $528 million alone compared to $95 million in 2018, according to estimates by FT Partners Research. For example, in 2018, where FineTech received 24 deals, HealTech received 13; AgriTech received 10; E-commerce received 9; and SaaS (software as a service) received 9. Also noteworthy are three trends for 2019 in the financing of African start-ups and that Briter Bridges will closely follow in 2020 and beyond, the rise of Chinese investors and also the growing interest in startups dedicated to Agriculture. The largest donors of African start-ups in terms of fundraising in 2019 would be, among others, the African Development Bank (55 million dollars); Partech Ventures (70 million dollars), Digital Africa (76.14 million dollars).

Siré SY

See also:
Kenya: 52 million mobile connections and 17% penetration of social networks
Ivory Coast: 12 million Internet users and a mobile connection to 131% of the population
Cameroon: Fear on the CTO 2020 ?
Nigerian, Kenyan, Egyptian and South African startups, the biggest fund-raisers in 2019
From Nigeria to Ghana, Kenya and South Africa The Stroll of Bridges Builder in Lagos, Accra, Nairobi and Jo’burg

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