Africa’s fintech startups are reported to have raised $2 billion in the past year alone. This amount dwarfs the $231 million that was raised in the year 2020. Nigerian startups continue to account for the biggest share of funds raised by the continent’s fintechs in 2021.
2021 Has Highest Number of Reported Deals
The capital raised by Africa-based fintech startups in 2021 shot to $2 billion, a figure that is almost ten times the $231 million that was raised in 2020, data from Crunchbase News has shown. The figure, which is also the new all-time high, dwarfs the previous high of $773 million that was recorded in 2018.
In terms of the number of deals that were concluded, the Crunchbase data also shows that 2021 has the highest number of deals recorded in a single year — about 198. This is an increase of almost 30% from the 155 deals that were recorded in 2020, the data suggests. The 2021 deals are also more than double the 96 that were recorded in 2017.
A further breakdown of the d
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