Kenneth Hogrefe 🇦🇴🇩🇰’s Post

African Tech Startup Funding Report (2024 Q1) In the first quarter of 2024, African startups raised $466 million, marking a 47% decline from the same period in 2023. $332 million of the total funding came from equity, while $132 million came from debt funding. The standout performer was Moove, securing $110 million in funding through a series B round, with $100 million from Uber and a $10 million loan from Stride Ventures . Following Moove were Roam with $24 million and Hewatele with $20 million. Distribution by Country: - Nigeria: 35% - Kenya: 24% - South Africa: 16% - Egypt: 12% Other countries attracting significant funding include Uganda ($16m), Ghana ($10m), Tanzania ($9m), and Morocco ($7m). Funding by Industry: - Transport and Logistics: 32% - Fintech: 23% - Agri & food Tech: 11% - Energy: 11% - Health: 10% (Source: Africa the Big Deal, 3rd April 2024) #TechStartups #AfricanTech #FundingReport #StartupFunding #EquityInvestment #DebtFunding #shefoundry #founders #femalefounders #techfounder

📊 Key Highlights from Africa's Startup Funding in October 2024 . . Despite a global VC slowdown, African sectors like fintech and renewable energy continue to secure significant investments. In October 2024, African startups raised an impressive $254 million across 42 deals, making it the best October since 2019 and the second-highest month of the year. 💡 Notable Stats: 🌍 $1.7 billion raised in 2024 across 393 deals—though this marks a 32% drop from 2023. 🌍 Fintech dominated, accounting for 60% of October’s funding, largely due to Moniepoint’s $110M Series C round, setting it up as a potential unicorn. 🌍 Geographic Focus: 60% of October’s funds went to Nigerian startups. 🚺 Gender Disparity Remains: Despite increased attention to diversity, a staggering 98% of funds went to male-led startups, with 97% lacking female founders. Globally, startup funding showed signs of recovery, with $25 billion raised in October. Yet, securing funds remains a challenge in Africa’s ecosystem, especially for female founders. #AfricaTech #StartupFunding #Fintech #GenderEquality #Ghana #Nigeria #TheMarketReminder #Startups 

Since 2019, African startups have raised almost $15 billion in funding (excluding exits). The “Big Four” (Nigeria, Kenya, South Africa, and Egypt) has attracted a whopping 84% of that capital, with Nigeria alone accounting for 30% of the total, according to Africa: The Big Deal. A closer look 🔍 🤑 Startup funding raised by the Big Four since 2019 (representing 84% of the continent’s total funding): Nigeria 🇳🇬 – $4.4B Kenya 🇰🇪 – $2.9B South Africa 🇿🇦 – $2.4B Egypt 🇪🇬 – $2.3B 🤑 The top four countries also house over three-quarters (25% for Nigeria) of all ventures that have raised $1M or more since 2019. 🤑 The next two leading funding destinations behind the Big Four are Senegal and Ghana, although they have so far raised almost six times less funding than Egypt since 2019. 🤑 Ghana and Senegal might have very close funding figures, but a closer look reveals that the former holds a stronger position overall. Senegal, for instance, has seen 76% of all its startup funding since 2019 go to Wave alone, while Ghana has seen a more diversified funding distribution. 🤑 Other markets where startups have raised $100m+ since 2019 are located in East (Tanzania, Uganda) and North Africa (Algeria, Tunisia, and Morocco), with the exception of DRC. 🤑 Beyond the previous funding groups, 12 countries have secured between $10M and $100M in the last five years and an additional 11 raised less than $10M. 🤑 The remaining 19 markets have seen minimal funding activity, mostly below the $100k mark. Read the full analysis: https://lnkd.in/d8xJhQrm #funding #venturecapital #africa #tech #techfunding #startups #vcfunding Maxime Bayen Max Cuvellier Giacomelli.

🌍 African Startups in 2024: Funding Trends & Insights As of November 2024, African startups have raised $1.86 billion in venture funding. Here’s a breakdown of where the money is going: 📊 64% ($1.2 billion): Equity funding 💵 34% ($635 million): Debt financing 🎗️ 2% ($33 million): Grants While it’s unlikely that 2024 will match last year’s $2.9 billion, the year is still strong, with 425 startups securing $100,000+ in funding! 🌟 Can we reach $2 billion by year-end? It’s going to be a close race. Country-wise: Nigeria and Kenya continue to dominate the African venture funding space, contributing 76% of the $180 million raised last month alone. This highlights Nigeria’s resilience, especially amidst recent declines in funding. The African startup ecosystem remains dynamic, with incredible potential for growth. Entrepreneurs and investors alike must continue adapting to capitalize on the opportunities ahead! #AfricanStartups #VentureFunding #Nigeria #Kenya #InnovationAfrica #Funding2024 #Entrepreneurship #StartupEcosystem #BusinessGrowth #AfricaRising #InvestInAfrica

📈 May 2024 African start-up funding highlights thanks to Africa: The Big Deal ➡ Significant rebound May 2024 saw a substantial rebound in start-up funding in Africa, with $187 million raised, compared to just $75 million in April. This makes May the second-highest month in fundraising over the past six months. ➡ High activity A total of 64 ventures received funding of at least $100k, far exceeding the monthly average of 38 from January to April. Of these, 17 ventures raised at least $1 million. ➡ Funding Distribution Grants: 4% Equity: 31% Debt: 65% ($122 million, with significant contributions from M-KOPA and Spiro) ➡ Notable exits Lesaka’s acquisition of Adumo for $85 million. Busbud’s acquisition of Ratality in South Africa. Paystack & friends’ takeover of Brass. Year-to-Date comparison $729 million announced in funding (excluding exits) in 2024 so far. Lower compared to previous periods: $1.7 billion in J-M 2023, $2.7 billion in J-M 2022, and $1.1 billion in J-M 2021. Number of $1m+ deals in 2024: 90 ventures, close to 95 in J-M 2023 and 91 in J-M 2021. ➡ Emerging trends: Climate-related ventures: Funding share has grown from 19% in J-M 2021 to 44% in J-M 2024. Debt financing: Consistently high, representing 35% of all funding announced in Jan-May 2024, in line with the 38% in J-M 2023, a stark contrast to the 4%-8% range in 2019-2022. See the full analysis here https://lnkd.in/dxuMZW5p #Startups #Funding #VentureCapital #Investment #Entrepreneurship #TechNews #BusinessNews #Africa #AfricaRising #AfricanStartups #AfricanTech #AfricaBusiness #InvestInAfrica #ClimateTech #Fintech #EdTech #TechFunding #Innovation #FundingNews #StartupFunding #InvestmentTrends

🌍📈 Exciting updates from the African tech ecosystem! Despite a challenging first half of 2024, there have been significant wins for Francophone West Africa: ✅ Startups in Senegal, Ivory Coast, Benin, and Togo raised $65M in H1 2024, a 4x increase from 2023! ✅ Partech Africa closed a $300M+ fund to support companies from Seed to Series C. ✅ Breega raised a $75M fund to back pre-seed and seed startups across Africa, including Francophone countries. ✅ Seedstars Africa Ventures secured $30M from EIB Global to invest in early-stage startups, with up to 50% allocated to Francophone Africa. ✅ Mastercard Foundation launched an Edtech acceleration program in Benin and Senegal.   However, challenges remain: ✴ Total funding for African startups continues to decline, with projections below $2.2B for 2024. ✴ Currency depreciation in Egypt and Nigeria poses risks for startups. ✴ The closure of Ghanaian fintech Dash and challenges faced by FMCG B2B e-commerce platforms like Twiga Foods and Wasoko highlight the tough market conditions. Let's continue to support and grow this vibrant ecosystem! 💙🚀 #AfricaTech #Startups #FrancophoneAfrica #Investment #Startupfunding #Seedfunding #Entrepreneurship #Angelinvesting

BREAKING NEWS: Funding winter for startups in Africa is over! 🎉 ... I would have loved for it to be true at this point of the year but the reality is... it's still a bit early to tell. 🙈 This being said, we have a couple insights that could give us some reasons to believe we are not too far away from this headline: 🌍 3Q24 startups funding figures in Africa are on par with 3Q23 ( and quite above the past 3 quarters) 🌍 Comparing with the first 3 quarters of 2023, the number of startups that raised $1M or more is quite similar 🌍 Funding raised by startups in Africa so far in 2024, is already above the FY19 and FY20 amounts 👉 Read Max Cuvellier Giacomelli latest Africa: The Big Deal post for more insights (...and a discount code to attend SuperReturn Africa in a few weeks!): https://lnkd.in/d433HaSy 👉 Check Africa: The Big Deal comprehensive deals database to see all the underlying transactions, details on founders, investors and sectors behind these aggregated numbers: https://lnkd.in/d_CsTZw2

The world is digitalizing rapidly and tech startups are among the pioneers that are continuously bringing about innovation and disruption in the business world. Financing & Scalability are among the crucial elements required for startups to thrive in the cutthroat world of business. Looking at what's happening in the African continent, recorded debt and equity financing for startups has grown by more than 13 fold to USD 2.4 Billion over the past 9 years with the number of startups funded up by 224% during the same period. With Kenya, Nigeria, South Africa and Egypt having the largest share of Startups produced and money raised across the continent. Tanzania on the other hand has generally lagged behind it's African peers as far as funding is concerned and its ability to create competent startups. This report explores what the trend for startups have been in Africa as a whole as well as with Africa's startup giants, why we need to embrace the creation and fostering of startups in Tanzania as well as what we can learn from Africa's Silicon Valleys and what we need to do in order to foster disruptive startups Enjoy!!! Aika Shauri Disrupt Africa Tanzania Startup Association John Haule Fintech Association Of Kenya #startups #fintech #finance #economy #kenya #nigeria #southafrica #egypt #bigfour #tech #africa #education

Kenya has emerged as the top destination for startup funding in Africa, raising an impressive $437 million (Sh56.5 billion) so far in 2024, accounting for 31% of the continent’s total funds. This milestone underscores Kenya's appeal to global investors, driven by its strategic location, fast internet speeds, and favorable policies. It solidifies its position as the hub for innovation and growth in Africa's startup ecosystem. The strong performance puts Kenya ahead of Egypt, which secured $373 million (Sh48.3 billion), with the two countries together representing 58% of Africa’s total startup investments. This marks the highest share of funding for both nations since 2019, reflecting their increasing dominance in the continent’s startup landscape. Nigeria, previously a leader in African startup funding, has raised $218 million (Sh28.2 billion) this year, representing 15% of the total. While this marks a slight increase from last year’s 14%, it is a notable drop from Nigeria's average share of 35% between 2019 and 2022. South Africa, another key player, recorded its lowest funding since 2019, with $125 million (Sh17.2 billion), capturing just 9% of the continent’s total. Beyond these major players, the remaining 18% of funding is distributed across 23 African markets, with countries like Tanzania, Ghana, and Rwanda showing significant growth. Notable deals include SPIRO in Benin ($6.5 billion), NALA in Tanzania ($5.2 billion), and Fido in Ghana ($3.9 billion), signaling that smaller markets are gaining traction in the African startup ecosystem. #StartupFunding #AfricaInnovation #KenyaStartups #TechEcosystem #GlobalInvestment #FinTech #AfricaRising #VentureCapital #KenyaEntrepreneurship #AfricanMarkets #InnovationInAfrica https://zurl.co/eMnM

A Deep Dive into Startup Funding in Africa: 2019-2024 Analysis Today, we share a comprehensive geographical analysis that outlines the evolving landscape of venture capital since 2019. Highlights of Funding Dynamics 🔹 The dominance of the Big Four: Nigeria, Kenya, South Africa, and Egypt, known as the Big Four, have collectively attracted 84% of all startup funding on the continent, underscoring their pivotal role in Africa's economic development. Nigeria alone accounts for 30% of this funding. 🔹Emerging Contenders: While the Big Four lead, nations like Senegal and Ghana are rapidly emerging as significant players. Ghana, in particular, shows potential to join or even surpass some of the Big Four, with 13 startups crossing the $10m funding mark. 🔹Regional Insights: Beyond the leaders, countries like Tanzania, Uganda, Algeria, Tunisia, and Morocco have also seen substantial investments, with Morocco displaying a notably diverse funding landscape with nearly 40 ventures raising $1m+ each.Broader Market Trends 🔹Despite the robust activity in several countries, there remain 19 markets with minimal to no recorded deals, highlighting untapped potential and opportunities for early-stage investments. From Here Ventures remains dedicated to identifying and nurturing the most innovative founders across Africa. We believe in the power of localized support and strategic capital to elevate innovative solutions that can transform communities and economies. If you'd like to receive future updates from us, subscribe to our newsletter - https://shorturl.at/Kpk8W #FromHereVentures #VentureCapital #AfricaTech #Startups #InvestInAfrica #Innovation #StartupFunding