NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

By Peter Pedroncelli

In 2019, Nigerian and Kenyan fintech and logistics firms secured major funding deals while an Egyptian startup attracted $42 million — the largest round of funding for a tech startup in Egypt to date.

South African tech firms had many smaller investment rounds that did not make this list, the largest of which was a $12 million round of funding for first responder platform RapidDeploy.

The biggest deal disclosed of 2018 was a $64.5-million funding round for South African fintech platform Jumo. In 2019, three funding rounds helped secure more than $100 million for companies founded or based in Africa.

Photo courtesy of unerbul.