Africanโ Startups Poised to Surpass 2024 Fundingโ Levels, Nearing $2.2 Billion in 2025
LAGOS,Nigeria โฃ- African startups are on track to perhaps exceed last โyear’s funding record,having collectively raised $2.2 billion in โคventure capital so far in 2025, according to a โreport released โTuesday by Africa: The Big Deal. This figure is just $40 million shy of theโ $2.24 billion โขtotal secured across the continent in 2024.
The reportโค detailsโ a strong performance in the third quarter of 2025, with startups raising $785 โขmillion โฃ- a substantial increaseโ from the $461 million raised inโ Q1, though slightly lower than the $963 million seen inโฃ Q2. โขThis Q3 total also significantly outperforms previous years, exceeding the $649 million raised โขin Q3 2024, $496 million in Q3 2023, and $612 million in Q3 2022.
September 2025 alone โคsaw 58 startups โsecure $140 million inโ funding,closely mirroring the $146 million raised in โขSeptember 2024 and surpassing the $124โฃ million recordedโ in the same month โคlast year.
“From โขa volume point of view, this is below average, yet equivalent to whatโค had been raised in September 2024 and above the โSeptember 2023 tally,” statedโ Max Giacomelli, โขco-founder of Africa: The Bigโ Deal.โ “What is notable, though, is the number โคof ventures that raised at leastโ $100,000 last month – the second-highest in a year, just behind July.”
The funding breakdown for september revealsโ $105 million (75%) came โfrom equity financing,$32 โฃmillion from debt,and $3 million from grants,including 16 match-funding grants from DEG Impulse under its develoPPP Ventures initiative โin East africa.
Five startups led the funding rounds โคin September: Nigerian fintech Kredete with โคa $22 million Series A, Pura โฃBeverage securing $15 million inโฃ aโฃ Series B raise, South African identity verification startup Contractable with $13.5 million,Egyptian AI firm โฃ Fill closing โaโ $12.5 million Series A, and South African edtech company The Invigilator raising $11 million.
Beyond funding, September also saw five notable exits. South African consortium Twofold Capital acquired โfintech Skylight, edtech Rekindle acquired EpiTek, and fintech Street Wallet bought Digitip. In north Africa,Moroccan logistics startup Cathedis โข was acquired by super app Ora Technologies,and Egyptian โคhealthtech firmโฃ to prayer completed the acquisition of Exmgo.
Analysts attribute the positive trend to growing investor confidence inโ Africa’s innovation landscape, despite aโค global slowdownโ in venture โฃcapital. The “Big Four” – Nigeria, Kenya, South Africa, and Egypt -โ continue to dominate investment, attracting the majorityโ of funding due to their established ecosystems, talent pools, and expanding domestic markets.
If current momentum continues,โ 2025 is projected to be one of the strongest fundraising years in โคAfrican startup โhistory, โsignaling โrenewed optimism in theโ continent’s digital economy.