African Startup Funding
How much the startups in the Labari Data startup directory have raised, at what stage, and from whom.
Total raised
Across 213 disclosed amounts
$9.8B
Funded startups
Of 538 in view
224
Median raise
Mean $45.8M
$4.5M
Investors
Named on 1+ startup
150
Pre-Seed
39 startups · $37.4M
Seed
71 startups · $384.5M
Pre-Series A
7 startups · $53.2M
Series A
39 startups · $1.3B
Series B
12 startups · $983.1M
Series C+
14 startups · $3.9B
Exit / Acquired
3 startups · $400M
Grants & other
23 startups · $1.9B
Not reported
330 startups · $834.7M
Top investors
By number of startups backed in this selection
- 1TLcom Capital4 startups
- 2Norrsken223 startups
- 3Novastar Ventures3 startups
- 44DX Ventures2 startups
- 5EchoVC2 startups
- 6Endeavor Catalyst2 startups
- 7Enza Capital2 startups
- 8Greycroft Capital2 startups
- 9International Finance Corporation (IFC)2 startups
- 10Meltwater Entrepreneurial School2 startups
Funding gap
Startups with a female founder: share of companies vs. share of money raised
Share of startups13%
Share of disclosed funding2%
Startups with a female founder make up 13% of this selection but have raised 2% of its disclosed funding.
Largest raises
| Startup | Sector | Country | Stage | Amount | Investors |
|---|---|---|---|---|---|
| Zipline | Drone Company | USA | Series C+ | $813M | — |
| Jumia | E-Commerce | Nigeria | Grants & other | $770M | — |
| Tymebank | Finance/Fintech | South Africa | Series C+ | $600M | Tencent, Nubank, Norrsken22, African Rainbow Capital (ARC) |
| Glovo | Food/Food Delivery | Unknown | Grants & other | $530M | — |
| MKOPA | Finance/Fintech | Kenya | Series C+ | $523.9M | — |
| Flutterwave | Finance/Fintech | Nigeria | Series C+ | $475M | DST Global, Green Visor Capital, Greycroft Capital, Early Capital Berrywood, Insight Ventures, WorldPayFIS, Yards Capital |
| Moove | Automobile and Transportation | Nigeria | Series B | $460M | — |
| Tingo | Agriculture | Nigeria | Not reported | $400M | — |
| Andela | Talent | Nigeria | Series C+ | $381M | Soft Bank, Spark Capital, TLcom Capital, Salesforce Ventures, Chan Zuckerberg Initiative, Google Ventures |
| ChipperCash | Finance/Fintech | USA | Grants & other | $302M | Deciens Capital, Ribbit Capital, Bezos Expeditions, SVB Financial Group, FJ Labs, One Way Ventures, RRE Ventures |
| Shara | Finance/Fintech | Nigeria | Series A | $292M | — |
| Onafriq | Finance/Fintech | South Africa | Series C+ | $220.2M | — |
| Bima | Finance/Fintech | United Kingdom | Series C+ | $200M | — |
| Moniepoint | Finance/Fintech | Nigeria | Series C+ | $200M | — |
| Paystack | Finance/Fintech | Nigeria | Exit / Acquired | $200M | — |
Methodology. Amounts are self-reported “raised to date” totals from the Labari Data startup directory, in USD. Startups without a disclosed amount are counted but left out of totals and medians. Startups tagged with several stages are grouped under their most advanced one; grants, debt and non-equity support are grouped as “Grants & other”.