It’s always difficult to outline the top five African tech startups based on the total amount of funding received, or impact, as they’re relevancy isn’t often the same by country but we can simply in this publication, highlight some prominent startups making waves in 2024.
1. Flutterwave (Nigeria): A fintech company that provides payment infrastructure for businesses across Africa and globally. They have secured massive funding rounds and are a clear leader in the African fintech space.
2. Jumia (Nigeria): While not strictly a “startup” anymore (it’s publicly traded), Jumia is a major player in e-commerce across Africa and has received substantial funding throughout its history. It’s important to include it for its historical impact on the African tech funding landscape.
3. Andela (Nigeria): Focuses on training and employing software engineers in Africa for global companies. They have attracted significant investment for their innovative approach to bridging the global tech talent gap.
4. Opay (Nigeria): A leading fintech company operating in several African countries, Opay offers a range of financial services, including mobile money and payments. They have raised substantial capital to support their expansion.
5. Chipper Cash (Uganda): A cross-border mobile money transfer platform facilitating payments across multiple African countries. They have received significant investment to support their growth and expansion.
Side Note: This list is not exhaustive, and the precise ranking can change based on the most recent funding rounds and available data. Other companies like Interswitch (Nigeria) and Paystack (Nigeria) also deserve mention for their influence and significant funding rounds. For the most up-to-date ranking, consult reputable sources such as Crunchbase, TechCrunch Africa, and similar websites that track African startup funding.
