Fintech is one of the most attractive tech sectors for investment in Africa — and Nigeria, together with South Africa and Kenya, is leading the way on the continent when it comes to the number of hot fintech investments.
A report (opens as a PDF) released in March by French venture capital (VC) firm Partech Africa found that at least 33% of total funding raised by African tech startups last year was in the fintech sector, with a total of 42 deals accounting for $379-million.
When it comes to disclosed 2018 deals of over $5-million, five Nigerian startups fintech startups — Mines, Flutterwave, Paga, Paystack and Lidya — raised close to $50-million, against South Africa’s Jumo and Yoco collective over $80-million last year.