The Top 10 Most Funded Startups in Africa for H1 2024

By Nazmia Nassereddine • 24 September 2024

Four African professionals giving thumbs up around a laptop in an office setting.

As one of the world's most multicultural and economically diverse continents, Africa has witnessed a dynamic transformation in its startup landscape as of late with some growing interest. The first half of 2024 saw funding activities across various industries, underscoring the continent’s growing role. Investor interest is particularly strong in FinTech, media, and sustainable solutions like energy and agricultural technologies, sectors which align with global trends emphasizing sustainability and digital transformation. South Africa and Kenya are leading the charts, as mature ecosystems conducive to startup growth and attractive to international investors.

Let's take a closer look at the top 10 most funded startups in Africa for H1 2024.

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Mentioned Startup & VC Profiles

OneOrder

Roam

Roam is a technology-driven electric mobility company that designs and develops electric motorcycles and electric buses for emerging markets, starting in Kenya. These two products can offset the most amount of carbon emissions globally (more than 90% reduction for motorcycles and 80% for electric buses), reduce local emissions in urban areas, and at the same time create the most financial value for end-users.

Simera Sense

M-KOPA

Founded in 2011, M-KOPA is a fintech platform that provides digital financial services to underbanked consumers by leveraging data to combine digital micropayments with the Internet of Things [IoT] technology. With operations in Kenya, Uganda, Nigeria and Ghana, M-KOPA’s platform has provided over $1 billion in credit and enabled 3 million customers to access smartphones, electric motorcycles, solar power systems, digital loans and health insurance. The company directly employs nearly 2,000 people across Africa and has created over 10,000 roles for sales agents since the start of 2020.

TymeBank

Bank freely with TymeBank! Open secure digital personal and business bank accounts, save on monthly bank charges and enjoy the best savings interest rates.

Showmax

Showmax is an online video entertainment service that offers unlimited series, movies, Showmax Originals, kids' shows, sport and more. Stream or download and watch on a wide range of devices, the way that suits you.

SunCulture

MetaTrace

MetaTrace is the world's first GameFi project featuring a Free to P2E model on a real-world map. MetaTrace is not just a game but a place where players can connect, share achievements, and explore new horizons together.

Hohm Energy

Hohm helps homeowners and businesses to go solar with accredited solar installers, product suppliers and embedded solar finance in just a few clicks.

Qodek

Qodek is committed to simplifying your marketing processes, offering services ranging from web scraping to CRM enhancement and account mapping, and more. At Qodek, we're at the forefront of tech innovation, crafting tailored solutions in data management, leadership development, and database design.

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