The 10 startups that garnered the highest amount of funding collectively secured USD 123 million, a report by Weetracker reveals. This represents 74% of the total funding amount for the first half of 2018.
Kenyan startups dominate the top 10, however Nigeria leads in the total number of investment deal (31 deals). While South African startups failed to crack the top 10, they managed to secure 21 investment deals.
Here ten companies who “have held up a majority of the funding sky”.
1. Cellulant – a digital payments solutions provider founded in 2004. They currently operates in 11 African countries but are headquartered in Kenya.
2. Branch International – a microlending startup which attracted USD 20 million venture money, the startup also raised USD 50 million in debt facility.
3. M-Kopa – MKopa is a clean-tech startup founded in 2011 in Nairobi.
4. Africa’s Talking – an enterprise software startup. The company operates in 7 countries including Kenya where it is headquartered.
5. Swvl – transport tech startup launched in Cairo in early 2017 that enables riders heading in the same direction to share a ride in a van or bus. It operates hundreds of buses along 200 routes in Cairo and Alexandria.
6. SureRemit – Nigeria-based SureRemit raised USD 7 million in an initial coin offering (ICO) for its blockchain based remittances platform.
7. Lidya – Founded in 2016, Lidya is a digital financial service platform focused on providing better access to credit for micro, small, and medium-sized enterprises (MSMEs) in Africa.
8. We Farm – Nairobi and London based farmer to farmer digital network, where farmers can ask questions in their language on anything related to agriculture.
9. Baharsoft – Baharsoft is the company behind Cairo based recruitment platforms Wuzzuf and Forsana.
10. Terragon Group – Terragon Group is a data analytics firm founded in Lagos. They offer Digital Solutions for Business Transformation, Consumer Access, Data and Intelligence, Mobile Payments, Digital Content Management, and Technology to their clients. (via Weetracker)