Report: Africa Fintech Startups Raised $2 Billion in 2021
Africa’s fintech startups are reported to have raised $2 billion in the past year alone. This amount dwarfs the $231 million that was raised in the year 2020. Nigerian startups continue to account for the biggest share of funds raised by the continent’s fintechs in 2021. 2021 Has Highest Number of Reported Deals The capital raised by Africa-based fintech startups in 2021 shot to $2 billion, a figure that is almost ten times the $231 million that was raised in 2020, data from Crunchbase News has shown. The figure, which is also the new all-time high, dwarfs the previous high....
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While cryptocurrency markets have seen poor performances during the first two quarters of 2022, a recently published fundraising report authored by Messari researchers notes that $30.3 billion was raised by crypto projects and startups during the first half of 2022. The $30.3 billion raised across 1,199 fundraising rounds surpasses all the funding blockchain startups and projects obtained last year.
H1 Crypto Ecosystem Funding Report Shows Capital Continues to Flow Despite Crypto Winter
A significant sum of money has been injected into specific blockchain projects and startups....
Over 180 Fintech startups were analyzed to create this report, most of whom seem to focus on the payment sector in general. Fintech is a booming industry all over the world, and those signs are becoming apparent in India as well. With most of the startups in the region focusing on payments, and over US$1.3bn invested over the past three years, things are looking good. A recent study by Zinnov, a leading management consulting firm, shows the Fintech situation in India is well worth keeping an eye on. The majority of funding has been raised in the past three years, and the industry attracted....
According to data analysis firm, CB Insights, about $2.6 billion was raised by some 129 blockchain-focused start-ups during the first quarter of 2021. This figure easily surpasses the $2.3 billion raised from a total of 341 deals that were seen in the whole of 2020. Large Capital Raising Rounds Dominate As noted by one report, the capital raised in this period provides further evidence that “venture capitalists are pouring money into cryptocurrency-related companies at the fastest clip in years.” However, the data also shows that this increase has largely been “fueled by....
While Africa has not yet seen a “blockchain mega-deal,” the report noted that crypto unicorns might emerge from the region in 2-3 years. As the African region continues to adopt crypto and blockchain, more venture funding flowed into the continent in 2022’s first quarter compared to the first quarter of 2021, according to a new report by blockchain-investment firm Crypto Valley Venture Capital (CV VC) and Standard Bank. The report, titled “The African Blockchain Report 2021,” shows that blockchain startups were able to raise $91 million within 2022's first quarter. Compared to the first....
African banks, behind the times with fintech, could actually become pioneers in developing new financial technologies like the blockchain and bitcoin. Because these banks largely left it up to telecom companies to assume the role of financial service providers in parts of Africa, the banks are now investing in digital currency startups, according to Quartz Africa. The question is how long will it take. Mbwana Alliy, a managing partner at the Savannah Fund, a technology venture company, said a headwind of fintech disruption is blowing from Europe and Silicon Valley into Africa. Blockchain....