African Startup Funding Rebounds Strongly in November 2025
Africa’s startup funding ecosystem recorded one of its strongest rebounds of 2025 in November, with startups raising a combined $589.9 million across 38 deals, according to industry data.
Notably, the top 10 startups alone raised $573 million, representing 97.14% of total funding for the month. By contrast, the remaining 28 startups collectively raised just $16.9 million, highlighting the continued concentration of capital among a small group of late-stage and scale-ready companies.
Month-on-Month Growth Driven by IPOs and Energy Deals
November’s performance represents a 29.7% increase month-on-month, compared to $441.9 million raised in October 2025 across 59 deals.
Despite a lower deal count, funding volumes surged due to:
- Two mega IPOs
- Multiple large energy-sector investments
- Renewed investor appetite for late-stage fintech
The data underscores persistent investor selectivity amid tight global financial conditions, elevated interest rates, and cautious risk sentiment.
Capital Concentration Reflects Investor Preferences
Out of the 38 startups funded in November, just 10 absorbed nearly all available capital. This trend reflects a market that continues to favour:
- Proven revenue models
- Scalable infrastructure and energy plays
- Clear exit pathways
Early-stage startups and smaller funding rounds remain constrained across most regions.
Top Funded African Startups in November 2025
BasiGo (Kenya)
- Amount: $5m
- Sector: Logistics & Transport
- Fund Type: Venture Round
- Investors: Proparco
BasiGo provides electric bus solutions for public transport operators in Kenya and Rwanda, with over 100 electric buses deployed.
Jackfruit Network (Kenya)
- Amount: $5m
- Sector: Education & Jobs
- Fund Type: Debt
- Investors: TLG Capital, IDP Foundation
The facility will expand lending to affordable private schools across Kenya.
Plentify (Southern Africa)
- Amount: $5m
- Sector: Energy & Water
- Fund Type: Series A
- Investors: Secha Capital, Buffet Investments, E3 Capital, Fireball Capital, Endeavour Harvest Fund
Plentify connects household appliances to cheaper and cleaner energy using AI-driven hardware and software.
SwiftVEE (Southern Africa)
- Amount: $10m
- Sector: Agriculture & Food
- Fund Type: Series A
- Investors: Havaic, Exeo Capital, Angel investors
SwiftVEE digitises livestock trading across cattle, sheep, goats, and other livestock markets.
Lula (Southern Africa)
- Amount: $10m
- Sector: Fintech
- Fund Type: Debt
- Investor: International Finance Corporation
The funding will expand working-capital access for MSMEs, with 80% allocated to micro and small businesses.
Omnisient (Southern Africa)
- Amount: $12.5m
- Sector: Deeptech
- Fund Type: Series A
- Investor: TransUnion
Omnisient provides privacy-safe AI-powered data insights and plans expansion into the U.S. market.
SolarX (West Africa)
- Amount: €15m ($17.3m)
- Sector: Energy & Water
- Fund Type: Debt
- Investor: Afrigreen Debt Impact Fund
The funding will refinance commercial solar assets across four francophone African countries.
nextProtein (North Africa)
- Amount: $20.7m
- Sector: Waste Management
- Fund Type: Series B
- Investors: SWEN Capital, British International Investment
The funding will support the construction of the company’s largest insect-protein production facility.
SolarSaver (Southern Africa)
- Amount: $60m
- Sector: Energy & Water
- Fund Type: Venture Round
- Investors: Inspired Evolution, FMO, Swedfund
SolarSaver will expand access to affordable solar solutions for SMEs across Southern Africa.
CashPlus (North Africa)
- Amount: $82.5m
- Sector: Fintech
- Fund Type: IPO
CashPlus became the first fintech to list on the Casablanca Stock Exchange, valuing the company at roughly $550 million.
Optasia (Southern Africa)
- Amount: $345m
- Sector: Fintech
- Fund Type: IPO
Optasia’s Johannesburg Stock Exchange listing accounted for 58.48% of all funding raised in November and over 77% of Southern Africa’s total.
Regional Funding Breakdown
Southern Africa dominated November funding:
- Southern Africa: $445.9m (75.59%)
- South Africa alone: $442.5m (75.01%)
The surge was largely driven by IPO activity and renewable energy financing.
What This Means for Africa’s Startup Ecosystem
November’s rebound highlights a funding environment where capital remains available—but highly selective. Late-stage fintech, clean energy, and infrastructure-driven startups continue to attract large checks, while early-stage founders face a tougher fundraising climate heading into 2026.
