• The total number of FinTech investors in Africa during the first three quarters of 2022 reached 414 individual investors, a 12% increase from the same period the previous year. The total number of funding rounds participated in by FinTech investors also grew to 536, a 6% increase from the same period in 2021. The average number of rounds that African FinTech investors participated in during 2022 was 1.3 rounds.
• Future Africa, a start-up investor based in Nigeria, and Y Combinator, an early-stage startup investor, were the joint most active African FinTech investors from Q1-Q3 2022 with seven investments each. Future Africa’s most recent African FinTech investment was Tripesa’s Pre-seed funding round, which offers payment solutions for Africa’s travel and tourism industry. Y Combinator’s most recent African FinTech investment was Bridgecard’s pre-seed funding round, a card issuer for Africa.
• The S22 batch of the Y Combinator programme, which played a role in the early days of companies like Airbnb, Coinbase and Dropbox among others, recently took place, and concluded with a demo day in September 2022. Seven of the 219 companies so far announced are based in Africa and three of these are FinTech. These include: Pivo Technology, a digital bank for freight carriers in Africa, Anchor, a banking-as-a-service platform for Africa, and previously mentioned Bridgecard. The previous edition of the accelerator, the W22 batch, had the most African representatives ever, with 24 start-ups from the continent taking part including 10 FinTech companies.
The data for this research was taken from the FinTech Global database. More in-depth data and analytics on investments and companies across all FinTech sectors and regions around the world are available to subscribers of FinTech Global. ©2022 FinTech Global
