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African Tech Startups Raised $186 Million In 2015 – SA Takes The Lead

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Mfonobong Nsehe
Mfonobong Nsehehttps://www.jozigist.co.za
Mfonobong Nsehe is currently Nigeria and Kenya advisor to Pilot Fish Media. He is also the CEO of Hodderway Group, a Kenyan-based private limited liability company focused on brokering and delivering attractive, large-ticket transactions in Africa to select blue chip international investment partners. He travels extensively across Africa every year, meeting and interviewing the continent's wealthiest entrepreneurs and tallying their net-worth for Forbes' annual rankings of the World's Richest People and Africa's Richest People. He is also a contributing writer for Jozi Gist. You can follow him @MfonobongNsehe and on Linkedin

African tech startups raised just under US$186 million in funding over the course of 2015, with South African companies receiving in excess of US$54.5 million, making the country the most popular destination for investments over the course of the year.

african-startups
Courtesy BBC News

This is according to the African Tech Startups Funding Report 2015, launched yesterday by tech startup ecosystem news site Disrupt Africa, which found 125 tech startups raised funding in 2015 around the African continent, to the tune of US$185.79 million.

South African startups claimed 29 per cent of that funding, with the 45 startups raising almost US$55 million in funding, making the country the most successful when it comes to funds for startup tech businesses. Standout rounds from the country included those of fintech startup WiGroup, microjobbing service M4JAM and e-commerce company Faithful to Nature.

Nigeria was not far behind in terms of funding, with startups from the West African country raising US$49.4 million, and with the average Nigerian startup in fact raising more than the average South African equivalent.

In third place, Kenyan startups brought home over US$47.3 million, while Egypt, Tanzania and Ghana also proved to be hotspots for funding activity. A host of other countries, including Rwanda, Uganda, Cameroon and Zambia, also saw local startups raise funding.

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