Africa Startup Funding: 11 Success Stories

Africa is the second-largest continent in the world, and it has many startups that are willing to take risks. This blog post will share 11 success stories where African startups were able to raise capital for their businesses.

African startups founders have to compete for venture capital with so many other companies on a global scale that it can be difficult to secure any funds at all, let alone multiple rounds of financing. 

Still, there are some success stories. 

For example, one African-based data company raised $24 million from global investors to use big data analytics to help African companies become more competitive on the international stage.

Another African-founded business that has seen success with raising capital is the e-commerce platform Jumia. This company was able to secure $50 million in its first round of financing.

After raising that initial capital, it closed another $100 million in funding from investors like Goldman Sachs and Rocket Internet. 

This large amount is evidence of the fact that companies outside traditional technology hubs can raise significant venture capital for their businesses as well.

Here is a table showing Africa startup funding;