African Ventures Hit $2.5bn In Yearly Funding, Highest Since Early 2024

Start-ups across Africa have collectively raised $2.5 billion over the past 12 months (June 2024 to May 2025), marking the highest 12-month fundraising total on the continent since early 2024, Africa: The Big Deal latest report disclosed.

The milestone underscores a steady rebound in investor confidence and capital inflow following a slow start to 2024.

The momentum continued in May 2025, with African start-ups securing a total of $254 million in disclosed funding. While not record-breaking, this figure suggests that March’s poor showing may have been a temporary dip rather than a sustained downturn.

Notably, funding figures for 2025 so far, now exceeding $1 billion in just five months, represent a 40 percent increase compared to the same period in 2024, when start-ups raised $750 million.

A total of 36 start-ups announced deals worth over $100,000 in May. Though slightly fewer than in recent months, the drop in deal count was offset by a surge in deal size. No fewer than seven companies raised over $10 million last month, signaling a shift toward larger, more growth-oriented investments.

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Leading the pack was Egyptian proptech company Nawy, which made headlines with a $75 million round, $52 million in Series A equity led by Partech, and $23 million in debt. It stands as the largest proptech deal in Africa’s history.

Egyptian ventures, in fact, dominated the month. Six of the seven $10 million-plus deals were closed by start-ups from the North African country. These include:

Tasaheel, a fintech subsidiary of MNT-Halan, with Egypt’s largest corporate bond issuance at $50 million; Valu, which secured $27 million from Saudi investors and is preparing for a public listing; Thndr, a digital investment platform, raised over $15 million; Sylndr, a mobility-focused start-up, closed a Series A worth over $15 million and Money Fellows, a collaborative finance platform, landed a $13 million pre-Series C to fund expansion beyond Egypt.

The only non-Egyptian entry in the top deal bracket was South African healthtech company AURA, which raised a $15 million Series B co-led by Partech and the CAIF, with sights set on U.S. market expansion.

Regionally, Egypt leads the continent in 2025 funding so far, accounting for 31 percent (over $330 million) of the total raised, followed by South Africa at 26 percent, Nigeria at 15 per cent, and Kenya at 12 per cent.

The continent also saw increased exit activity, with four notable deals announced in May. Once again, Egypt was prominent, involved in three of the four exits. These include, MaxAB-Wasoko’s acquisition of Fatura; the merger of wellness platforms Miran and Welnes, and Egypt’s first-ever SPAC deal, with Catalyst Partners Middle East acquiring Qardy for an estimated $23 million.

Elsewhere in West Africa, BioLite acquired a majority stake in Baobab+, highlighting growing interest in strategic consolidation across the continent’s entrepreneurial ecosystem.

With investor interest clearly resurging and big-ticket deals leading the charge, Africa’s tech and innovation landscape appears to be entering a new, more confident phase. The $2.5 billion raised over the past year could well be a precursor to even stronger figures ahead, if current trends hold.