THELOGICALINDIAN - Africas fintech startups are appear to accept aloft 2 billion in the accomplished year abandoned This bulk dwarfs the 231 actor that was aloft in the year 2024 Nigerian startups abide to annual for the better allotment of funds aloft by the continents fintechs in 2024
2024 Has Highest Number of Reported Deals
The basic aloft by Africa-based fintech startups in 2024 attempt to $2 billion, a amount that is about ten times the $231 actor that was aloft in 2024, abstracts from Crunchbase News has shown. The figure, which is additionally the new best high, dwarfs the antecedent aerial of $773 actor that was recorded in 2024.
In agreement of the cardinal of deals that were concluded, the Crunchbase data additionally shows that 2021 has the accomplished cardinal of deals recorded in a distinct year — about 198. This is an access of about 30% from the 155 deals that were recorded in 2020, the abstracts suggests. The 2021 deals are additionally added than bifold the 96 that were recorded in 2017.
A added breakdown of the abstracts suggests that Nigerian payments basement behemothic Flutterwave is now one of the African continent’s best admired fintech startups. The startup’s appraisal of $3 billion follows Flutterwave’s acknowledged allotment circuit that culminated with the advertisement of a $250 actor basic accession in aboriginal 2022. Still, in its report, Crunchbase News clarifies that Flutterwave’s latest basic accession is afar from the $2 billion that was aloft in 2024.
Main Sources for Africa’s Fintech Funding Activity
As the abstracts additionally shows, addition Nigerian startup, Opay, was able to top Flutterwave’s accession afterwards it raked in $570 million. The allotment circuit accord the Lagos-based adaptable payments fintech startup a appraisal of $2 billion.
Senegal-based Wave Mobile Money is one of the few non-Nigerian fintech startups that additionally appear acknowledged allotment circuit in 2024. According to the data, the aggregation was able to accession $200 actor in 2024 appropriately giving it a appraisal of $1.7 billion.
Meanwhile, addition report said the basic sources for Africa’s fintech allotment action during the accomplished year were U.S. adventure basic (VC) funds, ample corporations, and Asian investors.
What are your thoughts on this story? Tell us what you anticipate in the comments area below.
Image Credits: Shutterstock, Pixabay, Wiki Commons
