In March 2025, African startups attracted only $50 million in funding, marking one of the lowest figures since late 2020.
March Funding Trends
According to the report by venture funding analytics company Africa the Big Deal, African startups managed to raise only $50 million in March 2025. This makes March one of the slowest months since late 2020, during the height of the COVID-19 pandemic. Notably, no startup managed to raise $10 million during the month.
Notable March Initiatives
Not all was bleak in March: one of the significant deals of the month was African fintech company Enza raising $6.75 million. The funding round was co-led by Algebra Ventures and Quona Capital, partnered by Dubai-based Network International. The new capital will be used to expand the team and roll out new products for its banking clientele across Africa.
54 Collective's Situation
54 Collective, one of Africa's most active investors, announced the shutdown of its venture studio operations in Africa. This followed the end of its partnership with the Mastercard Foundation on April 30, 2025. Despite previous support, 54 Collective could not secure alternative funding to keep the studios running.
Hopes remain that April will bring more activity to Africa’s venture space, but March 2025 has already gone down as one of the slowest months.
