Significant Increase in Startup Investments in Africa
In 2025, startup investments in Africa surged, with local ventures raising $3.2 billion, excluding exits. This figure reflects a remarkable 40% increase year on year compared to 2024, according to recent data from Africa: The Big Deal.
Investment Trends and Previous Declines
This growth comes after a challenging period, as investment had dropped for two consecutive years. In 2024, investment fell by 25%, amounting to $2.2 billion, a notable decline from the $3 billion raised in 2023. The slowdown was largely attributed to the high investment volumes in the preceding years, when African startups raised $4.4 billion in 2021 and $4.6 billion in 2022, according to the deal database.
Steady Number of Fundraising Ventures
Approximately 500 ventures on the continent received at least $100,000 in funding in 2025, maintaining similar levels as seen in 2024 and 2023. Notably, there is an upward trend in the number of ventures receiving substantial funding; 215 ventures raised over $1 million, marking an 11% increase from 2024 and matching the levels of 2023.
Growth in High-Value Funding Rounds
In 2025, the landscape for high-value funding transformed significantly, with 69 startups securing over $10 million each—up from just 40 in 2024 and 62 in 2023. This marks the second-highest count of such significant fundraising instances since tracking began in 2019, with a record of 97 cases documented in 2022.
Record Funding for Major Startups
This year also saw eight startups announce funding of $100 million or more, an increase from five in 2024 and four in 2023. The bulk of these high-value deals were concentrated in the energy and fintech sectors, with companies like Sun King, M-Kopa, d.light, and Wave leading the charge.
Robust Investor Engagement in African Ventures
The Africa: The Big Deal database identified at least 554 investors engaged in transactions of $100,000 or more across the continent. Co-founder Max Cuvellier Giacomelli noted that this figure likely underrepresents the total number of active investors since it excludes many smaller angel investors, who are often unreported.
Overview of Long-Term Investment Growth
Since 2019, African startups have collectively raised close to $20 billion (excluding exits). Over the past seven years, more than 2,200 ventures have raised at least $100,000, including over 1,000 that secured more than $1 million. Furthermore, nearly 300 ventures surpassed the $10 million mark, and 33 achieved funding of over $100 million. The Egyptian fintech platform MNT-Halan has emerged as a standout performer, raising over $1 billion in funding.
