According to numbers compiled in WeeTracker’s Venture Investments Report 2018, US$726 million was invested across 458 deals in African startups. That is a 300% gigantic leap in the total funding amount and over 127% increase in the number of deals as compared to 2017.
In terms of the number of deals, all inclusive, NIGERIA outperformed all other location with a total of 136 deals. South Africa, which gave it a close competition stood second with 107 deals, followed by Kenya with 73 deals. This trend has a slight deviation from the last year where South Africa had topped the chart. Joining the race this year along with the investor’s preferred destination are countries like Egypt, Uganda, Ghana and Tunisia.
- A total of 243 investors participated in the investment landscape in Africa
- 458 startups raised funding in various rounds throughout the year
- 80% of the deals were concentrated in South Africa, Nigeria & Kenya.
- Fintech retained its top position as the sector with most funding.
- 30 startups made it to the 5 million club of fund raising across the continent