Industry: fintech
Sentiment: Positive
Total Articles: 4
Last Article: 2025-08-17 13:09:26+00:00
Africa's startup ecosystem has seen record-breaking raises and growth projections, but also significant failures. In the past three years, five prominent startups collapsed due to fraud, hubris, and operational issues, exposing systemic problems in the ecosystem.
The African startup ecosystem experienced mixed results in 2024, with funding returning to pre-pandemic levels but facing challenges due to global VC tightening. While some well-funded startups closed down, others pivoted or thrived, highlighting the dual realities of challenges and resilient adaptations in the post-boom tech landscape.
LoftyInc Capital, a prominent African investor, has reached a $43 million first close for its third fund, LoftyInc Alpha. The fund will focus on late-seed and Series A startups across Nigeria, Egypt, Kenya, and Francophone Africa, aiming to address the funding gap between seed and Series A rounds.
Visa has made a strategic investment in Moniepoint, an African fintech platform. The partnership aims to support SMEs and drive financial inclusion across Africa, with plans to introduce contactless payments and expand into new markets.