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More African founders secure $1M+ Funding in new trend

More African founders secure $1M+ Funding in new trend

START-UPS in Africa are increasingly hauling in US$1 million or more in funding, even as the investment climate on the continent cools off. Data from Africa: The Big Deal, shows ventures raising over US$1 million thrive due to their bankability, suggesting a selective but keen interest from investors amidst a cautious investment backdrop. "While the amount raised quarterly is still at its lowest since Q4 2020, we can see that the number of ventures raising at least $1m during a quarter has started to bounce back in Q3 2023 and continued to do so consistently since," The Deal says. Investors…
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Appetite from local investors fuels surge in African startup funding

Appetite from local investors fuels surge in African startup funding

DESPITE a steep downturn in startup funding in Africa since 2022, more African investors are channelling substantial investments into homegrown enterprises. This is a marked departure from the previous years, when North American investors, particularly from the U.S., led the charge in startup funding across the continent. Analysis from Africa: The Big Deal identified at least 619 unique investors who participated in deals of $100k or more within the continent, 35% of these investors were headquartered in Africa, making it the region with the most investors in African startups. This shift came after a dramatic 47% year-on-year drop in the…
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