African Startups Funding

African Startups Ecosystem

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3 days ago

Summary

Funding into African startups exceeds $2 billion, driven by fintech and digital payments sectors. Companies like Clickatell, M-KOPA, Yoco, and Onafriq leading the charge in addressing financial inclusion and access to credit for underserved communities.

Key Points

  • Clickatell secured $91 million in a Series C funding round, bringing its total raise to over $100 million.

  • M-KOPA has raised over $500 million in combined debt and equity funding, providing affordable access to smartphones, electric motorcycles, and digital financial services across sub-Saharan Africa.

  • Yoco provides payment solutions and business tools for small and medium-sized enterprises, having raised over $107 million including an $83 million Series C.

  • Onafriq operates the most extensive digital payments hub on the continent, connecting millions of mobile money wallets across multiple African countries.

Why It Matters

The surge in funding highlights Africa's growing startup ecosystem and its potential to drive economic growth and financial inclusion for underserved communities.

Author

Tage Kene-Okafor

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