Excerpts from the Africa Tech Startups Funding Report 2020. 🧵

In 2020, a total of 397 African tech startups raised a record $701million in funding, with bulk (89%) of these funds going to startups in Nigeria, Kenya, South Africa & Egypt.
The tech startups that stood out in 2020 by funding received were:
°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
The top investors in African tech startups in 2020.
Kenya 🇰🇪

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.
The report points out that all the major rounds raised for startups in Kenya 🇰🇪 go to companies with foreign/expat founders & CEOs, a feature that makes it stand out from other African countries.

But the number of startups & funding is growing.
Nigeria 🇳🇬

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.
Egypt 🇪🇬

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 🇿🇦

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.
Download link to the full 2020 African Tech Startups Funding Report > https://t.co/vR62NTZAkc

(PS: Key in $0 as your fair price to get a free copy).

More from Startup

You May Also Like

This is NONSENSE. The people who take photos with their books on instagram are known to be voracious readers who graciously take time to review books and recommend them to their followers. Part of their medium is to take elaborate, beautiful photos of books. Die mad, Guardian.


THEY DO READ THEM, YOU JUDGY, RACOON-PICKED TRASH BIN


If you come for Bookstagram, i will fight you.

In appreciation, here are some of my favourite bookstagrams of my books: (photos by lit_nerd37, mybookacademy, bookswrotemystory, and scorpio_books)