Industry: fintech
Sentiment: Positive
Total Articles: 3
Last Article: 2025-03-29 14:00:00+00:00
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.
Lagos-based fintech Raenest has raised $11 million in Series A funding to expand its cross-border payment solutions across Africa. The company offers virtual USD, GBP, and EUR accounts for freelancers and businesses to receive international payments and manage multi-currency wallets.