Q1 2020 Funding Report

2019 was a record year in terms of investment for African tech start-ups with total funding exceeded $1.93billion, but have things continued at the same pace in 2020?

Funding in Q1 2020 totalled $283 million USD, exceeding the total in Q1 2019 by $26 million USD. However, despite a strong quarter for FinTech and Transport and Logistics companies, and an overall increase in the number of deals, the overall funding for pre-seed and seed stage companies reduced compared to the same stage in 2019.

We look at some of the market drivers behind the figures and offer our thoughts on how we see VC investment evolving throughout the rest of 2020.

Q1 2020 Tech Investment Africa Graph

This report was first published in April 2020.

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