Top African Startups That Raised the Most Money in 2025

From January to April 2025, investments in African tech companies reached $803 million. This is a 43% increase compared to the $563 million raised during the same time in 2024.

In April alone, startups got about $343 million, making it one of the busiest April ever, only behind April 2022.

According to The Big Deal, 39 startups received at least $100,000 in equity, grants, or loans in April. When combined with the first three months of 2025, a total of 163 tech startups got funding so far this year.

These numbers do not include money made when investors sell their shares. For example, Silverback Holdings sold its shares in Lemfi and earned a very high return of 2,900%.

Alitheia Capital and Goodwell Investments also made successful sales. When Baobab Nigeria was bought, investors made 300% of their investment in the microfinance bank.

Here are some of the African startups that raised the most money in 2025:

HearX — $100 MillionHearX, a health tech company from South Africa, made the biggest deal in 2025. It raised $100 million in April through a merger with American hearing aid maker Eargo.

The funding came from Patient Square Capital, a US venture capital fund. HearX started in 2015 and is known for its hearing aids that work with smartphones, making hearing care easier for many people.

Bokra — $59 MillionBokra is a new fintech company in Egypt. It raised about $59 million through a Sukuk, which is an Islamic bond, with a seven-year term. Bokra worked with Aman Project Finance for this. The money will be used to give loans to small and medium businesses in Egypt.

Although Bokra only got its fintech license in 2024, it has raised about $63.6 million in total, including $4.6 million in early funding used to start its app.

Stitch — $55 MillionStitch, another fintech from Egypt, raised $55 million in a Series B funding round. Stitch provides payment tools like APIs and online payment services.

Since 2022, Stitch has raised $101 million. The latest funding was led by QED Investors and included Norrsken22 and Flourish Ventures.

Lemfi — $53 MillionLemfi is a Nigerian startup that raised $53 million in January. Although based in the US, Lemfi helps Nigerians living abroad send money home.

It reached $1 billion in monthly transactions by January 2025. Lemfi’s CEO, Ridwan Olalere, said the company plans to expand to new countries.

PowerGen — $50 MillionPowerGen is an energy technology company that raised $50 million in January during a Series C round. It works in Kenya, Nigeria, Sierra Leone, and the Democratic Republic of Congo (DRC).

The company plans to use the money to build renewable energy projects totaling 120 megawatts across Africa.

Naked Insurance — $38 MillionNaked Insurance, an insurtech company from South Africa, raised $38 million in a Series B2 funding round. This followed $17 million raised in 2023.

The new funds will be used to improve AI automation and increase marketing. The funding round was led by BlueOrchard, an American investment firm, with help from IFC and Germany’s DEG.

Gozem — $30 MillionGozem is the first tech company from a French-speaking African country to be on this list. It raised $30 million in February through a Series B round. The funding was split equally between equity and loans. Gozem started as a moto-taxi service in Togo in 2018.

Since then, it has expanded to Benin, Cameroon, and Gabon. The money will be used to buy more vehicles for drivers and launch its digital banking app called Gozem Money.

Enko Education — $24 MillionAlso from Togo, Enko Education raised $24 million in January. Enko runs 16 schools in 10 African countries.

Their goal is to prepare 20,000 students for university by 2029. The funding was led by Adiwale Fund I and Africa CapitalWorks (ACW).

Khazna — $16 MillionKhazna, a fintech company from Egypt, raised $16 million in a pre-Series B round. It offers services like salary advances, digital payments, and small loans to low- and middle-income workers in Egypt.