African startups continued their strong momentum in May 2025, raising a total of $254 million across 36 disclosed deals. This brings total funding for the year to over $1 billion - a significant increase compared to the $750 million raised over the same period in 2024.
According to data fromAfrica: The Big Deal, this funding includes equity, debut, and grants exceeding $100K per deal. Over the past 12 months (June 2024 – May 2025), startups on the continent have raised more than $2bn - the highest total for any 12-month period since early 2024.
Egypt Leads the Pack
Egypt emerged as the clear leader in terms of deal volume and value in May. The country accounted for the largest share of the month’s activity, highlighted by proptech startup Nawy securing $75 million - the single largest deal.
Other notable Egyptian deals included:
Tasaheel (part of MNT-Halan), which closed the country’s largest-ever corporate bond issuance at $50 million.
Valu, which raised $27 million from Saudi investors and is reportedly preparing for a public listing.
Fintech platforms Thndr and Money Fellows raised +$15 million and $13 million respectively.
Sylndr, an automotive marketplace, closed a Series A round exceeding $15 million.
South African and West African Activity
South Africa also saw a major deal in May, with emergency response startup AURA raising $15m in a Series B round led by Partech and CAIF, aimed at expanding its services into the United States.
West Africa had a quieter month in terms of capital raised, but still featured notable corporate activity, including BioLite’s acquisition of a majority stake in Baobab+.
Year-to-Date Trends and Exits
Egypt has so far attracted the largest share of startup funding in 2025, accounting for 31% of total capital raised ($330 million). It is followed by South Africa (26%), Nigeria (15%), and Kenya (12%).
The month of May also saw multiple exits across the continent with three of them coming from Egyptian companies:
MaxAB-Wasoko acquired Fatura.
Miran and Welnes announced a merger.
Egypt saw its first SPAC deal, with Catalyst Partners Middle East acquiring Qardy in a $23 million transaction.
Lungile is the Digital Editor for TechAfrica, with a knack for storytelling, technology and innovative ideas. Working with TechAfrica, she takes simple ideas and turns them into amazing stories.
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