African startups raise $1.35 billion in the first half of 2025
African startups raised $1.35 billion in H1 2025, a 78% increase from the same period in 2024.
June 2025 was the strongest funding month in nearly a year, with $365 million secured.
Monthly fundraising exceeded $250 million four times in H1 2025, averaging $237 million per month.
Startups across Africa raised $365 million in June, making it the continent's strongest funding month in nearly a year and capping a robust first-half (H1) performance in 2025.
According to new data from Africa: The Big Deal, African startups collectively secured $1.35 billion in funding during H1 2025, a 78% surge from the $800 million raised in the same period last year.
The June upswing represents more than just a one-month rally. 2025 has seen consistent momentum, with monthly fundraising crossing the $250 million threshold four times already, a notable departure from the sluggish investment climate of early 2024. The average monthly funding in H1 2025 now stands at $237 million, up from $133 million in H1 2024 to $187 million across the full year.
The current performance also puts H1 2025 nearly on par with H2 2024's total of $1.37 billion, with only a marginal 1.5% decline — showing a level of sustained investor confidence not seen in recent years.
Equity deal flow rebounds
Equity investments accounted for $950 million in H1 2025, representing a 79% increase from H1 2024. While the figure trails H2 2024's equity haul by a modest 7%, it reflects a strong rebound in venture capital appetite across African markets, particularly in sectors like fintech, health tech, and logistics.
Debt financing sees surge
Debt funding, which appeared to lag in early 2025, saw a dramatic turnaround in June. The month closed with $227 million in announced debt deals, the highest monthly figure in more than two years. Senegal-based fintech company Wave alone accounted for $137 million of that total.
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