Africa Startup Funding Breaks Record in 2021, Over $4 Billion, Says Latest Report

2021 has shaped up to be the most successful year in the history of African startup funding. Based on data collected by The Big Deal Newsletter, the number of deals worth at least $100k will over $4 billion in 2021.

In their usual country breakdown, we can see that Tanzania and Senegal have particularly had an impressive year, despite the fact that total funding has been dominated by a single startup.

Here’s how it looks like:

  • Nigeria – $1.37 billion
  • South Africa – $838 million
  • Egypt – $588 million
  • Kenya – $375 million
  • Senegal – $222 million
  • Tanzania – $96 million


SEE ALSO: What VCs Look for in African Startups


According to the report, an additional $1 million – $10 million have ben raised across 9 extra countries followed by 6 countries with less than $1 million.

The above stats also leave out the $250 million raise by Chipper Cash since this cannot be pinned to a specific country.

Further to that, in terms of the spread of the deals, the 4 leading countries have atleast 100 deals include:

  • Nigeria – More than 200 deals
  • South Africa – 100+
  • Kenya – 100+
  • Egypt – 100+


RECOMMENDED READING: Global Crypto Exchange, FTX, Invests $150 Million in Chipper Cash, A Leading African Mobile Payments Startup


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