
Excerpts from the Africa Tech Startups Funding Report 2020. 🧵

°Egypt's Vezeeta - $40,000,000
°Nigeria's Flutterwave - $35,000,000
°South Africa's Skynamo - $30,000,000
°Kenya's Twiga Foods - $29,400,000
°Kenya's Komaza - $28,000,000

59 Kenyan startups raised a record total of $191,381,000 in funding in 2020.
Twenty two (37%) of Kenya’s funded startups raised a $1 million or more.

But the number of startups & funding is growing.

In 2020, 85 Nigerian startups raised a combined $150,358,000, ranking 2nd in Africa behind Kenya.
23 Nigerian startups raised in excess of the million dollar mark in 2020 - accounting for 27% of the country’s funded ventures.

Egyptian startup ecosystem exploded in 2018, disrupting the African startup funding.
Egypt stands out across the continent in that fintech is much less a focus for investors, instead e-commerce and retail-tech are favourites.

South Africa was the 3rd most attractive investment destination on the African continent in 2020, for both number of startups funded & the total investment raised.

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