Funding

African startups raised $652.4 million in H1 2024 as the downward funding trend continues

This figure marks a weighty decrease of about 50.2% compared to the $1.31 billion raised in H1 2023, according to data from BD Funding Tracker

Lagos state govt injects ₦1 billion for startup funding and innovation research

₦1 billion in funding marks an astronomical increase in allocation to the initiative based on previous precedents.

Egyptian fintech Sahl raises $6 million to expand offerings as a comprehensive financial services provider

Founded in 2020 by Ahmed Othman, Ibrahim Assal, and Abdullah Assal, Sahl is a bill payment platform that enables users to recharge prepaid cards.

Chowdeck CEO talks $2.5M seed funding and the Nigerian food delivery market

Chowdeck, a Nigerian on-demand delivery platform has raised $2.5 million in seed funding to fuel its growth. As of March 2024, it crossed ₦2.4 billion in monthly GMV.

African tech VC funding declined 51% YoY in Q1 2024

In Q1 2024, African startups raised at least $369 million across 64 publicly announced deals, a 51.36% plunge from the previous year according to BD Funding Tracker.

Sim Shagaya launches The Honey Badger Fund (HBF) to back African entrepreneurs

Serial entrepreneur, Sim Shagaya has joined other African entrepreneurs who have funds or venture studios with the launch of his venture firm, The Honey Badger Fund (HBF).

Nigerian blockchain fintech startup Zone raises $8.5M Seed

Zone, a Nigerian blockchain fintech has secured $8.5 million in a seed round led by Flourish Ventures and TLcom Capital.