Fintech remained the most dominant force in Africa’s startup ecosystem in the first half of 2025, attracting 45 percent of all disclosed funding, amounting to approximately $640 million, Africa: The Big Deal report revealed.
This aligns closely with its 47 percent share in 2024 and reflects a strong resurgence following a period of relative decline.
Viewed over a 12-month rolling period, fintech’s share of total funding has risen to 51 percent, up from a low of 28 percent about 18 months ago, its near all-time low. The rebound indicates renewed investor confidence and a return to the sector’s former momentum.
The top five fintech transactions in H1 2025 were led by Wave Money’s $137 million debt financing. Other major deals included Bokra’s $59 million sukuk raise in Egypt, Stitch’s $55 million Series B in South Africa, LemFi’s $53 million Series B in Nigeria, and a $50 million bond issued by MNT-Halan’s Tasaheel in Egypt.
Read also: 10-year hiring freeze threatens NIGCOMSAT’s capacity to deliver national broadband
Kenya trailed its Big Four peers in fintech fundraising, with only $23 million raised in H1 2025, compared to over $100 million each in Nigeria, Egypt, and South Africa.
Since 2019, fintech startups have consistently claimed a majority of startup funding in South Africa (61 percent), Egypt (57 percent), and Nigeria (56 percent), while Kenya’s share stands at just 10 percent. This is likely attributed to Kenya’s well-established mobile money ecosystem, with 95 percent of adults owning mobile money accounts and 82 percent using them weekly.
Fintech deals also stood out for their size, with a median transaction of $1.7 million and an average of $10 million. This contrasts with non-fintech deals, which had a median size of $0.5 million and an average of $4.8 million.
In terms of deal volume, fintech accounted for 27 percent of all transactions in H1 2025, 31 percent of deals over $1 million and 46 percent of those over $10 million.
