The African Tech Startups Funding Report (2021) demonstrates a continued interest by investors in promising African startups. According to the report, 564 tech-based startups in Africa raised $2.14 billion in funding last year. Investors throwing their support behind African startups have doubled from 370 in 2020 to 771, the report indicates, demonstrating the growing confidence in the ideas emerging from the continent. The funding of African startups has attracted local and international funders, with successful founders such as Flutterwave’s Paystack’s Shola Akinlade, mPharma’s Gregory Rockson and Flutterwave’s Olugbenga Agboola starting to invest back into various startups. The comprehensive report paints a picture of a very optimistic ecosystem that is embracing startups solving African problems.

Source: Daily Nation May 13, 2022 07:38 UTC