What is the most funded startup in Africa?

Jumia is the most funded startup in Africa after raising $885 million across six funding rounds in seven years. The 100 most funded African startups have raised $10 billion across 436 deals at an average of $23 million per deal. A total of 13 African countries are represented, with Nigeria (27) and Kenya (23), accounting for half of these startups.

How many startups are in Africa?

On a sector basis, 36 startups were fintechs, which is more than twice the next sector, Energy and Environment Resources. In total, 14 sectors were represented in the top 100. According to the report, Jumia is the most funded African startup after the e-commerce giant raised $885 million across six funding rounds in seven years.

Are African tech startups getting funding?

Between 2015 and 2020 growth of African tech startups receiving financial backing was nearly six times faster than the global average. Despite this growth, many startups fail to pass through later stages of funding. A Boston Consulting Group report explores the hurdles and opportunities.