US$1.3 Billion In Venture Capital Funding Found Its Way To Africa In 2019

Venture Capital is growing and nothing proves this more than WeeTracker’s Decoding Venture Investments In Africa 2019 report.

VC investment grew from US$725.6m in 2018 to US$1.34b – the first time it has crossed a billion on the continent. This is even more mind-blowing when you put into perspective the fact that just 5 years ago investment was at US$185m.

Highlights from the report include the following:

• Companies headquartered or focussed on Nigeria and Kenya raised USD 1.09 Bn (81.49% of the total VC money raised in Africa).
• Interswitch -a payment processing company- made the most from a funding round (US200m) with Visa as the investor
• Fintech startups occupied 5 (Interswitch, OPay, Branch and Palmpay) of the top 10 venture deal slots on the continent in 2019
• Logistics and ride-hailing sectors experienced strong growth this year, with cumulative investment amount reaching USD 133.26 Mn.

If you’re interested in downloading the report you can do so here.

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