• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

African startups raised $56 million in August 2024

user avatar

by Giorgi Kostiuk

a year ago


  1. August 2024 Statistics
  2. Key Deals in August
  3. Overall Context of 2024

  4. In August 2024, African startups raised just $56 million, marking the second-slowest month in the past four years, according to a report by analytics firm Africa the Big Deal.

    August 2024 Statistics

    African startups raised $56 million in August 2024, significantly down from $443 million raised in July 2024. This represents an 87 percent decline compared to the previous month and a 76 percent drop compared to August 2023, when startups raised $234 million.

    Key Deals in August

    In August 2024, 27 startups announced funding rounds, well below the average of 40 per month over the past twelve months. The top three deals included Ghanaian fintech Fido, which raised $10 million, South African green energy startup Solarise Africa, which announced a $9 million raise, and YC-backed Nigerian fintech Waza, which raised $8 million, including $3 million in seed funding and $5 million in debt financing.

    Overall Context of 2024

    Despite the slowdown in August, the total funding raised in the third quarter of 2024 is already higher than the first and second quarters combined. Venture capital funding into African startups surpassed the $1 billion mark in early July, earlier than expected. This is encouraging and suggests that 2024 could eventually outperform 2019 and 2020 levels.

    The observed slowdown in funding for African startups in August 2024 occurs against the backdrop of ongoing economic challenges and a continued decline in venture capital investments on the continent since late 2022.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

Other news

GENIUS Act Signed: New Horizons for Crypto Regulation in the U.S.

chest

President Trump signs the GENIUS Act, promising regulatory clarity for cryptocurrencies and protection for stablecoin holders.

user avatarGiorgi Kostiuk

Court Dismisses Donald Trump's Lawsuit Against Journalist Bob Woodward

chest

The court dismissed Donald Trump's lawsuit against Bob Woodward, emphasizing journalists' rights to use content from presidential interviews.

user avatarGiorgi Kostiuk

Traders Optimistic: Top 7 Meme Coins with 100x Potential

chest

This article features meme coins that have the potential for high returns in 2025.

user avatarGiorgi Kostiuk

July Rally: Top Cryptocurrencies Tron, Pudgy Penguins, and BlockDAG

chest

Current trends in the crypto market: Tron, Pudgy Penguins, and BlockDAG attract analysts' attention.

user avatarGiorgi Kostiuk

Impact of Large Bitcoin Transfer on Crypto Market

chest

A large transfer of 7,743 BTC from Coinbase to an unknown wallet raises discussions about its impact on the crypto market.

user avatarGiorgi Kostiuk

Curve DAO Token: Sharp 28% Rise Following $3.9M Short Liquidations

chest

Curve DAO Token (CRV) has seen a significant rise of 28% in the past 24 hours due to the liquidation of $3.9 million in shorts.

user avatarGiorgi Kostiuk
dapp expert logo
© 2020-2025. DappExpert. All rights reserved.
© 2020-2025. DappExpert. All rights reserved.

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.