Funding Report 2019
2019 has been a record year in terms of investment for African Tech start-ups, in particular for Pre-Seed and Seed stage companies. FinTech, Transport and Logistics, AgTech, Solar Energy all fared well, and markets such as payments saw a number of large later-stage deals.
In this report, we look at some of the market drivers behind the figures and offer our thoughts on how we see VC investment evolving throughout 2020.
Executive Summary:
- African Tech companies raised USD 1.93 billion in 2019 representing a 63% compound annual growth rate (CAGR) since 2015.
- FinTech companies raised approximately 50% of the funding over 2019, with USD 808.8m secured over 79 funding rounds.
- Healthcare, Energy and Logistics solutions also fared well raising USD 264.2m, USD 214.6m and USD 214.5m respectively.
- Companies based in Nigeria, Kenya, South Africa and Egypt closed 81.3% of all rounds across the continent, totalling USD 1.57billion (81.4% of all funding raised).
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Funding Report 2019
2019 has been a record year in terms of investment for African Tech start-ups, in particular for Pre-Seed and Seed stage companies. FinTech, Transport and Logistics, AgTech, Solar Energy all fared well, and markets such as payments saw a number of large later-stage deals.
In this report, we look at some of the market drivers behind the figures and offer our thoughts on how we see VC investment evolving throughout 2020.
Executive Summary:
- African Tech companies raised USD 1.93 billion in 2019 representing a 63% compound annual growth rate (CAGR) since 2015.
- FinTech companies raised approximately 50% of the funding over 2019, with USD 808.8m secured over 79 funding rounds.
- Healthcare, Energy and Logistics solutions also fared well raising USD 264.2m, USD 214.6m and USD 214.5m respectively.
- Companies based in Nigeria, Kenya, South Africa and Egypt closed 81.3% of all rounds across the continent, totalling USD 1.57billion (81.4% of all funding raised).