10 Most profitable African startups which secured over $100 Million funding last year

Wed, 24 May 2023 02:31:59 +0000

10 Most profitable African startups which secured over $100 Million investment last year - Despite the setbacks endured as a result of the global health crisis, Africa’s venture capital ecosystem was, and still is – brimming with potential, with a record high of 319 deals reported last year, compared to the 140 deals reported in 2019. The global venture capital market is increasingly active, but few locales are seeing the sort of investment acceleration that African startups enjoyed last year.
In a recent publication by Billionaires.Africa, in the history of African tech startups, this year has been exceptional, as It was a record-breaking year in terms of funding for African startup firms. According to Billionaires.Africa, information they gathered revealed that African startups have so far raised more than $4 billion in 754 deals, this year alone. The new data indicates that African startups have already outraised all known prior years, meaning 2021 is sure a record breaker. But, more importantly, the pace at which African startups are raising money in 2021 is accelerating, with September data indicating that it was perhaps the best month ever. Given that venture capitalists are putting more money to work in Africa this year as the quarters tick along, it’s reasonable to anticipate that 2022 could bring even greater total venture investment to the continent.

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