African startups raised $500m in 2020


Total venture funding for African startups in 2020 so far has passed the $500m mark. This is according to Maxime Bayen, a company builder at GreenTec Capital, a German but African-focused investment firm.

Bayen carries out surveys on investments secured by African startups. However, most of his reports only contain deals of $1 million or more.

In the first quarter of 2020, Bayen reported that 35 African startups had raised over $340 million.

Similarly, Briter Bridges, a tech ecosystem data intelligence consultancy, reported figures akin to Bayen’s. For the first quarter of 2020, Briter Bridges reported that African startups raised approximately $350m. This is significantly higher than $300m, the amount reported by the consultancy in Q1 2019.

Also, the top four countries included South Africa with $112m; Nigeria, $74m; Kenya, $62m; and Egypt, $51m. These countries also received the lion share of Africa’s funding in 2019.

VIATech Point Africa
Artigo anteriorCovid-19: 3 African countries in the top 32 most innovative
Próximo artigoCalling African Women Change-makers
Startup Africa News
We are a cutting-edge online platform revolutionizing the coverage of African startup news. Our platform is dedicated to accelerating the growth of the African startup ecosystem by seamlessly bridging the gap between visionary African entrepreneurs, discerning investors, seasoned mentors, pivotal events, as well as esteemed startup incubators and accelerators. We use data-driven analysis to serves as the central nexus that interconnects all key stakeholders in the African startup landscape.


Por favor digite seu comentário!
Por favor, digite seu nome aqui