Seed vs. Series A: African Fintech Funding Compared
Seed funding in Africa averages $1.6M in 2024, a 26% increase from the previous year. Series A funding has dropped to an average of $8.7M in 2023, down from $15M in 2022.
“Building global doesn't mean abandoning Africa” – Maya Horgan Famodu, Founder and Managing Partner at Ingressive Capital
African founders can build global solutions while addressing local problems. Building global solutions helps improve the quality of local offerings.
African Roots, Global Routes: The VC Helping Startups Crack The New Code
African founders are increasingly looking beyond their home continent for growth. Portfolio companies that expanded globally are raising significantly more capital.
Egyptian Fintech Startup MNZL Secures $3.5 Million in Seed Funding
MNZL, an Egyptian fintech startup, has secured $3.5 million in seed capital. The seed round was led by P1 Ventures, Localglobe, and Ingressive Capital.
"You need a sprinkle of delusion to make it as a founder" — Olu Oyinsan, Managing Partner, Oui Capital
Nigerian VC firm, Oui Capital, launched its second fund for African founders. Tosin Eniolorunda, Co-founder and CEO of Moniepoint, was among its limited partners.
