Funding

African tech VC funding declined 51% YoY in Q1 2024

In Q1 2024, African startups raised at least $369 million across 64 publicly announced deals, a 51.36% plunge from the previous year according to BD Funding Tracker.

Nigerian blockchain fintech startup Zone raises $8.5M Seed

Zone, a Nigerian blockchain fintech has secured $8.5 million in a seed round led by Flourish Ventures and TLcom Capital.

MoneyHash gets $4.5M to fix payment failures in Africa & Middle East

Egyptian fintech startup, MoneyHash, secured $4.5 million in seed funding to bolster its payment orchestration platform across Africa and the Middle East.

One year later, Moove is still doubling down on its Indian bet

Barely a year after expanding into India, Moove, a Nigerian mobility startup has secured $10 million to expand its vehicle financing offering to more cities.

In four charts: How African startups raised $74M in January 2023

In January 2024, African tech startups secured $74 million across 24 deals comprised of both equity and debt, according to BD Funding Tracker.

Nigerian edtech Klas raises $1M eyes expansion into India and North America

Klas, a Nigerian edtech startup, secured $1 million in pre-seed funding. Its strategy involves scaling across Africa and extending its online teaching platform to India and North America.

Nigerian fintech Cleva gets into Y Combinator W24, raises $1.5 M pre-seed

Founded just four months ago, the Nigerian fintech startup Cleva has raised $1.5 million in a pre-seed round. It is arguably the first African startup in the Y-Combinator W24 batch to be listed in the directory.