African start-ups: as much money raised in the first half, but half as many deals
About $1.4 billion raised in the first half of 2026, as a year earlier, but in 146 rounds against 252. The money is concentrating on a few established companies, and acquisitions are doubling.
- About $1.4 billion raised in the first half of 2026, in only 146 rounds (252 a year earlier).
- Spiro (electric motorbikes) signs the biggest deal: $270 million.
- Egypt takes the lead; start-up acquisitions double.
African start-ups raised about $1.4 billion in the first half of 2026, close to the amount for the same period in 2025. But the number of announced deals almost halved: 146 rounds, against 252 a year earlier, according to data from TechCabal and The Big Deal compiled by Daba Finance.
More debt, fewer small rounds
Equity accounts for about $818 million, debt $614 million and grants $9 million. The biggest deal is that of Spiro, the electric motorbike specialist, with $270 million in June. It is followed notably by Egypt’s Blnk ($37.1 million), Morocco’s Agenz ($5 million in seed funding) and South Africa’s Zimi Charge ($2.6 million).
Electric mobility, clean energy and financial infrastructure attract most of the money.
Egypt in the lead, acquisitions on the rise
According to African Business, Egypt comes first with $327 million raised, ahead of Nigeria ($254 million), Kenya ($126 million) and South Africa ($83 million). Mergers and acquisitions almost doubled: 63 deals against 33, including Flutterwave’s acquisition of Mono and Paystack’s acquisition of Brass.
- Africa Startup Funding Holds Steady as Early-Stage Deals Dip, Daba Finance.
- Egypt leads Africa's start-up funding revival as Nigeria regains momentum, African Business.
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