Nigerian Fintech LemFi Leads $289 Million African Startup Funding Wave
African startups secured $289 million in funding in January 2025, a 240% increase from January 2024. January 2025 is the second-strongest opening month for funding since 2019, following January 2022.
African Startup Funding Soars 240% in 2025, Hitting $289M in January
Funding into the African startup ecosystem surged by 240% year-on-year to reach $289 million in January 2025. Equity financing accounted for over 90% of the total funds raised, translating to $262 million.
40 African startups raised $289m in January 2025
40 startups raised $289 million in January 2025, a 240% increase from January 2024. Equity deals made up 90% of the total investment, amounting to $262 million.
African Remittance Startups Surge as Inflows Hit Record $56B in 2024
LemFi secured $53 million in funding and surpassed $1 billion in monthly transactions. Nala expanded operations to the Philippines and Pakistan, securing $40 million in funding.
PalmPay eyes remittances as it mulls Asia Expansion
PalmPay is considering venturing into the remittance market as part of its expansion plans into Asia. The company aims to target the Middle East and Southeast Asia by 2025.
