Startups in Africa: M&A vs disclosed funding 2020

In 2020, funding activity across Africa's startup scene varied in terms of amount of funding and funding type. The majority of funding came from merger and acquisition deals, which amounted to approximately 1.12 billion U.S. dollars. Disclosed funding amounted to approximately 1.07 billion U.S. dollars, and undisclosed funding amounted to approximately 240 million U.S. dollars.

Value of capital invested in startups in Africa in 2020, by type of funding (in billion U.S. dollars)

Characteristic	Value in billion U.S. dollars
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Release date

January 2021

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Region

Africa

Survey time period

2020

Supplementary notes

Source includes the following information on page 4:
"2.4 billion U.S. dollars in capital deployed and acquisition value across Africa were recorded by our investment activity tracking in 2020. Our report estimates:

a) a minimum of 1.07 billion U.S. dollars in disclosed funding, which includes a variety of investment vehicles such as equity, debt, grants, mezzanine financing, convertible and SAFE notes;

b) 1.12 billion U.S. dollars in disclosed M&A market, and

c) at least 243 million U.S. dollars in non-publicly disclosed deals according to the information made available to Briter Bridges by 70+ investors who directly contributed to the report."

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