African startups pulled in $365 million in June 2025, the strongest month this year and the best since mid-2024. The data, from Africa: The Big Deal, shows investor confidence returning after a quiet stretch.
This strong June pushed total startup funding for the first half of 2025 to $1.35 billion. That’s a 78% jump from the $800 million raised in the same period last year. It’s also nearly equal to the $1.37 billion raised in the second half of 2024—just a 1.5% dip.
But June wasn’t a fluke. Four of the six months in H1 2025 saw startups raising over $250 million. March was the only outlier with a noticeable drop. Overall, African startups averaged $237 million in monthly funding which is far above last year’s $133 million average for H1 and better than the $187 million average for all of 2024.
Equity funding led the charge, reaching $950 million, a 79% increase from H1 2024. That’s a small decline from the $1.02 billion raised in H2 2024, but still a healthy total. Debt funding, which had lagged earlier, came roaring back in June. Startups secured $227 million in debt that month alone, the highest figure in over two years. Wave, a Senegal-based fintech, raised $137 million of that.
By June’s end, total debt funding stood at $400 million—up 55% from H1 2024 and almost equal to H2 2024’s total of $405 million.
Observers say the ecosystem is stabilizing after a rough two-year stretch. “The consistent performance across multiple months signals growing investor confidence and improved deal flow,” the report noted.
Still, challenges remain. Nigeria, once a dominant player in Africa’s startup scene, has fallen behind. In May, Nairametrics reported that no Nigerian startup cracked the top 10 in fundraising. Egyptian startups led the way instead.
If current trends continue, 2025 could mark a real turning point for African tech funding.
