African Startups Raise $119M in February 2025, Bringing Year-to-Date Funding to $408M

According to report by Africa: The Big Deal, in February 2025, African startups secured $119 million in funding, bringing the total amount raised since the beginning of the year to $408 million. While the number of $100,000+ deals announced in February (38) was lower than the average of the previous twelve months—and the lowest for any February since 2021—the broader funding picture offers a more optimistic outlook.

Despite the monthly dip, the total funding raised in 2025 so far ($408 million) surpasses the $302 million recorded in the same period in 2024 and is slightly above 2021’s figures ($400 million). Moreover, while the total number of $100,000+ deals in early 2025 lags behind previous years, the number of $1 million+ deals (42) remains consistent with both 2023 (42) and 2024 (43) and significantly higher than pre-2021 levels, which ranged between 20 and 31.

Key Fundraising Deals in February 2025

Fintech and logistics & transport startups dominated the fundraising landscape in February, accounting for the seven largest deals, which collectively made up 80% of the total amount raised. This trend continues from 2024, reflecting ongoing investor interest in these sectors.

Among the standout transactions, Togo-born startup Gozem secured the largest funding round of the month, raising $30 million ($15 million in equity and $15 million in debt). Other significant deals included:

Khazna (Egypt, Fintech): $16 million to support expansion into Saudi Arabia.
Hakki Africa (Kenya, Fintech x Mobility): ~$13 million.
Raenest (Nigeria, Fintech): $11 million Series A round.
Tether (Nigeria, Fintech): $3 million seed round + $7 million in debt financing.
Affinity (Ghana, Fintech): $8 million round.
Taager (Egypt, Logistics & Transport): ~$7 million pre-Series B.

While February’s figures may not have matched the highs of previous years, the broader funding landscape suggests that investor confidence in African startups remains strong, particularly in key sectors such as fintech and logistics.