African startups drew record $5.2 billion in venture capital last year - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

A man poses as he displays the Flutterwave homepage on a mobile phone screen in Abuja, Nigeria January 21, 2020.A man poses as he displays the Flutterwave homepage on a mobile phone screen in Abuja, Nigeria January 21, 2020.

The success of companies like Nigeria’s Paystack, acquired in 2020 by US payments firm Stripe, and fellow fintech Flutterwave, valued at over $3 billion, has fuelled international interest in up-and-coming businesses on the continent. Much of the investor focus has been on fintech start-ups seeking to meet the needs of the continent’s largely unbanked population. The data compiled by AVCA showed the financial sector accounted for 60% of the investments by value and nearly a third of deals by volume.

Most venture capital deals were concentrated in early-stage funding rounds. However, late-stage funding ballooned in 2021, including a nearly 40-fold increase in financing raised by Series C fundraising rounds.

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

2023 Total-Energies Africa Cup of Nations draw will take place on Tuesday - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.The draw for the Total-Energies Africa Cup of Nations, Cote d’Ivoire 2023 group stages will take place Tuesday night, following the release of the draw procedures by the Confederation of African Football on Monday. BAFANA BAFANA good luck u have been robed for years but God will bless u one day.
Source: SABCNews - 🏆 37. / 51 Read more »