Fintech groups also dominate in terms of funding that exceeds $50 million, with a 40% share of the total number of tech firms.Out of the $4.9 billion in funding that was raised by African technology companies in 2021, almost two-thirds of this went to fintech companies, data from a new report has shown. In terms of deals wherein the capital raised exceeded $40 million, fintechs accounted for 40% of such deals.
Meanwhile, the report suggested that the Covid-19 pandemic could well be the main explanation for the surge not only in the funding of fintechs, but non-fintech firms as well. “Logistics and energy follow by volume of funding but the most recent wave of digitization — perhaps boosted by Covid-19 — is propelling sectors such as e-commerce, agriculture and healthcare,” concluded the study report.However, the same report does concede that most of the funds raised in 2021 were concentrated in a few projects. The report explains:
Although highly concentrated in a few cases, [which] only represents less than 3% of total disclosed deals but captures over 55% of total disclosed funding, this investment size carries significant weight and acts as a pull factor for several investors. Besides equity financing, the Africa Investment Report data shows that debt financing is increasingly becoming a viable funding route. To support this assertion, the report points to the fact that 6% of total disclosed funding in 2021 was debt financing.In terms of the origins of the late-stage investors, the data shows that the United States is by far the biggest source of capital for Africa tech companies with a 62.5% share.
Tipsy The next GEM can be this, Metaverse included - Cloud streamed thanks to NVidia RTX Technology - TipsyWorld - A digital playground for adults TipsyLabs tipsyonline tipsyfans AI VR tipsylabs crypto bitcoin PancakeSwap staking tipsyworld Metaverse
Tipsy The next GEM can be this, Metaverse included - Cloud streamed thanks to NVidia RTX Technology - TipsyWorld - A digital playground for adults TipsyLabs tipsyonline tipsyfans AI VR tipsylabs crypto bitcoin PancakeSwap staking tipsyworld Metaverse
STAYCOTI $COTI
Just do a two-minute search on BlueSparrows to see what a sleeping dragon is
Buy a Tiger and receive the Bitcoin Hold Award Buy Tiger and get the Bitcoin Hold Award TGNB 0x087b005B57C286886e4c6175822929ea42832719 DOGE BTC BNB ETH TIGER TGNB babydoge shiba sol one
BCH pump
AFRICA FIRST CRYPTOS MARKET IN THE WORLD
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: wwd - 🏆 24. / 68 Read more »