Browsing: Africa tech VC

Tech startups. African tech start-ups recorded increased funding in 2021 manifested in signed deals.

According to a report published by Partech, an investment platform for tech and digital companies in 2021, 640 African tech start-ups raised a total of US$5.2B across 681 equity rounds. This is 3.6 times YoY growth that makes Africa tech VC-; the world’s fastest-growing ecosystem.

In 2021, Partech tracked a total of 681 equity rounds raised by 640 start-ups. This is a 92 per cent increase in growth YoY compared to the 359 rounds raised by 347 start-ups in 2020.

However, 73 per cent of total funding went to the top 4 countries, with half of it going to Nigeria alone. According to the latest report, in equity funding the West African country took 1.8 billion which is 34 per cent of the total. Nigeria recorded 185 equity deals representing 27 per cent of all deals.