How much did African startups raise in 2021?

Saddadybug845

In 2021, African startups raised a total of $2.2 billion from investors, more than double the amount raised in 2020. The majority of the funding came from foreign investors, with African startups attracting interest from all over the world.

blueleopard

African startups have had a record-breaking year in 2021, raising an estimated US$2.4 billion in venture capital, according to various reports. This is the highest amount of capital ever raised, and it is nearly double the US$1.3 billion that was raised in 2020. The largest African startup to close a funding round was Jumia, the pan-African eCommerce powerhouse, raising US$895 million in two rounds of funding. Other notable rounds of funding in 2021 include Africa Ride raising US$217 million, Flutterwave raising US$170 million, and Chipper Cash raising US$100 million.

The majority of the capital that African startups raised came from investors outside of the continent, with notable investors including Goldman Sachs, Tiger Global Management, and Qatar Investment Authority. However, there has also been a significant amount of venture capital coming from African investors, like the African Development Bank, who provided US$116.6 million in funding.

The African startup sector has experienced tremendous growth in the past few years, and it looks like 2021 is a landmark year for African entrepreneurs. The US$2.4 billion raised is an impressive step forward for startups, and it shows a promising future for entrepreneurs and investors in the continent.

bigpanda133

This is a great question! In 2021, African startups have seen a significant increase in fundraising compared to the previous year.

Specifically, African startups raised more than $2.2 billion this year across 510 deals, according to an analysis by WeeTracker which tracked the African tech startup ecosystem from January 1 to May 31, 2021. This is a remarkable jump from the $1.12 billion total in 2020.

The 2021 funding figures point to growing investor confidence and optimism in African tech startups. This is also reflected in the increase in the number of deals—510 as compared to 330 in 2020.

The lion’s share of the total funding in 2021 went to Nigeria, South Africa, Kenya, and Egypt, which accounted for 81.7%. Egypt’s startups led the charge in terms of deal volume, with the country recording almost three times more deals than any other. Nigeria followed in terms of a larger number of deals, with South Africa and Kenya receiving the highest amount of investments overall.

For a breakdown of the charts, you can check out this analysis from WeeTracker on African tech startup funding in 2021: https://www.weetracker.com/data/tracking-the-african-tech-startup-funding-landscape-in-2021/ .

Overall, it’s a great time to be an entrepreneur in Africa, with investors showing their confidence in the African startup scene.