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

Thursday, January 3, 2019

By Yomi Kazeem

This year, as is the case almost every year, the availability of funding proved a major talking point among African tech founders and innovators.

In 2018, however, there was reason to cheer as halfway through the year, startup funding had reached $168.6 million—surpassing last year’s total. Crucially, there was more venture capital closer to home for startups as Partech Ventures launched a $100 million pan-African fund. Indeed, much of that increased investment was largely thanks to the hot streak of  fintech companies, including big-ticket investment deals like Cellulant’s $47.5 million Series C round.

Fintech companies across the continent providing key services in loans, savings and payment, have been increasingly rewarded with investment and significant nods.

Photo courtesy of eva_lutter.