The 2023 Africa Report by Partech Partners reveals that African tech startups raised a total of $3.5 billion, in line with the global venture capital downturn. TechCrunch's article, referencing data trackers such as AfricaTBD, Briter Bridges, and Partech Partners, reported a range of $2.9 billion to $4.1 billion raised by African startups in 2023, a decrease from the previous year's $4.6 billion to $6.5 billion. Egypt, Kenya, Nigeria, and South Africa were the leading countries in funding. Additionally, a product upgrade was announced to benchmark valuations and metrics for fintech startups, which constitute the majority of funding in the African tech sector.
Be sure to check out @TechCrunch's article about our latest Africa Report ๐. @AnnieNjanja and @ulonnaya give us the full rund fown on "How African startups raised funding in 2023" Have a read ๐ค: https://t.co/8hHPi4Db3g https://t.co/raB54vV7wD
๐๐๐ Product upgrade Fintech startup funding makes up the majority of funding in African tech, but there's no way to benchmark valuations & metrics for payments, credits, open banking, etc. That changes today. https://t.co/jDdaWrDG30 ๐งต๐งต๐งต @getraise
Data shows African startups raised between $2.9B and $4.1B total in 2023, down from $4.6B to $6.5B in 2022, with Egypt, Kenya, Nigeria, and South Africa leading (TechCrunch) https://t.co/94hrZK8hbv ๐ซ Subscribe: https://t.co/OyWeKSRpIM https://t.co/OMtSQqF6qT
w/@AnnieNjanja: Data trackers @AfricaTBD, @briterbridges, and @PartechPartners set the amount raised by African startups in 2023 at between $2.9 billion and $4.1 billion, from $4.6 billion to $6.5 billion in total funding the previous year. https://t.co/gWAfRBHCB2
How African startups raised funding in 2023: https://t.co/OQ5KsYYGcQ by TechCrunch #infosec #cybersecurity #technology #news
How African startups raised funding in 2023 https://t.co/S7kvNDC0Pe
The news is out! ๐๏ธOur Africa Report 2023 is live, and it is nothing short of insightful, informative and extremely interesting! ๐คฉ The African Tech ecosystem raised a total of $3.5B, in line with the global VC downturn. ๐ธ Read the full report here: https://t.co/QJfEa0BylG https://t.co/VtC9smtZK9