Africa: The Big Deal

Where are the investors? 🔭

In line with the drop in number of deals being signed, the number of investors signing checks in 2026 so far is declining

12 hrs ago • Max Cuvellier Giacomelli

8

1

April 2026: Total amount hits a 13-month low

Deal activity rebounded slightly from March, but the total amount raised fell to its lowest level in over a year

May 6 • Max Cuvellier Giacomelli

13

2

April 2026

Show me your Q1 and I'll show you mine

How comparing Q1 2026 to Q1 2025 reveals ongoing shifts in the start-up funding landscape in Africa

Apr 28 • Max Cuvellier Giacomelli

9

2

The base is thinning 🔻

While overall totals are holding up, the small cheques that create tomorrow’s pipeline keep getting rarer.

Apr 20 • Max Cuvellier Giacomelli

10

1

March 2026: Amount is fine. Deal count isn't.

A decent $150m+ month on paper, but the lowest monthly count of ventures raising $100k+ we’ve seen since 2021...

Apr 8 • Max Cuvellier Giacomelli

10

March 2026

​🔟 things you should know about start-up debt in Africa

Still a bit of a niche by count. But already a force to be reckoned with by value...

Mar 25 • Max Cuvellier Giacomelli

13

As flat as the top of Table Mountain 🚠

12-month rolling funding has now been stable for 7 months. Below the heatwave peak, above the winter lows, and structurally more debt-driven.

Mar 17 • Max Cuvellier Giacomelli

11

February 2026: We're back on track 👟

40 ventures raised at least $100k last month and bagged a total of $272m+ in funding, putting the year back on a stronger footing

Mar 9 • Max Cuvellier Giacomelli

14

1

February 2026

Small but Mighty 🐛

Africa outperformed most regions in terms of equity growth in 2025, even if its share of global funding remains negligible

Feb 24 • Max Cuvellier Giacomelli

9

1

2025 IN REVIEW: Fintech in gold🥇​​|🥈Energy boosted by debt

Fintech and Energy captured 64% of the total amount raised in 2025, driven by larger tickets...

Feb 16 • Max Cuvellier Giacomelli

5

January 2026: a muted start of the year 🦥

26 ventures raised $174m in funding through $100k+ deals last month...

Feb 9 • Max Cuvellier Giacomelli

8

🚀 Unveiling our 'Data for Founders' initiative

Supporting 💯 start-ups in Africa with 🆓 access to the data they need on their fundraising journey

Feb 2 • Max Cuvellier Giacomelli

15

1

2