Out of 30 Startups that Raised Over $5M USD in Africa in 2018, 5 were Blockchain-based

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Africa-focused companies which put a dent on the world map by raising more than $5M USD in 2018

2018 was a big year for startups across Africa. According to data by WeeTracker, over 30 startups were able to raise over $5M USD with five of those startups being blockchain or crypto-based initiatives employing blockchain in one way or another.

According to the stats, the list of blockchain / crypto startups in the order of amount raised is as below:

  • Golix ($5M USD) – Zimbabwe Crypto Exchange
  • Kora ($5M USD) – Blockchain infrastructure for a more inclusive financial system
  • Twiga Foods ($10M USD) – A supply chain service connecting farmers and market
  • SureRemit ($7M USD) – A remittance service for transferring value
  • BitPesa ($5M USD) – A digital foreign exchange and payment platform

Despite the huge win for the Golix Exchange, it hasn’t been a walk in the park for the company. The exchange had faced momentarily shutdown and a tough legal fight before it could operate in the country.

BitPesa has also had an impressive expansion record in 2018 partnering with various large entities across the globe to enable more cross-border remittance and payment services for Africa.

2018 has clearly been a big win for blockchain across Africa and this trend is expected to continue as more startups and companies leverage on the technology and as governments become more accommodating and positive about the technology.

 

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