Africa’s Startup Ecosystem Hits $140 Million in 2025 After Strong September Funding Round
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African startups collectively raised $140 million in September 2025, driven largely by strong equity financing and several high-value transactions across key markets. While the total amount falls slightly below the year’s average, it aligns closely with the $146 million recorded in September 2024 and surpasses the $124 million raised in September 2023.
A key highlight for the month was the number of ventures that successfully secured at least $100,000 ranking as the second-highest monthly figure in 2025, just behind July. This reflects a sustained investor appetite for early-stage innovation across Africa’s startup ecosystem.
Of the total $140 million, equity financing accounted for $105 million, representing 75% of the total funding raised. Debt financing contributed $32 million, while grants made up the remaining $3 million. Among the grants were 16 match-funding grants from DEG Impulse under the develoPPP Ventures program for East Africa.
The top five equity deals for the month stood out significantly. Nigerian fintech company Kredete led with a $22 million Series A round. Pura Beverage, a South African company, followed closely with $15 million in Series B funding. South Africa’s identity-tech firm Contractable raised $13.5 million, Egypt’s AI startup Intella closed a $12.5 million Series A round, and education technology company The Invigilator secured $11 million.
In addition to these fundraising milestones, September also recorded five notable exits. In South Africa, Twofold Capital led a consortium to acquire fintech firm TaxTim, while edtech startup Rekindle purchased EpiTek and fintech Street Wallet acquired Digitip. In North Africa, Moroccan super app Ora Technologies acquired logistics company Cathedis, and Egypt’s healthtech startup Duaya completed the acquisition of EXMGO.
As of the end of September, total funding for African startups in 2025 has reached $140 million signaling a resilient and maturing investment climate across the continent’s innovation landscape.
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