The Future of Fintech in Africa

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In Africa, the funding era for startups has just getting started, with seed and&nbsp;early stage fintech dominating the realm of investments.

The Seed and Early-stage investments make up 72% of total fintech funds raised in 2022, and 86% of all deals inked in 2022 were&nbsp;with seed and early-stage fintech startups.

Africa's Funding Breakdown by Volume and Value from 2018 to 2022

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23% of all MENA Foodtech Funding in the past twelve and a half years from 1 January 2010 to 30 June 2023 went to MENA food delivery players, which had funding go to 8 countries across the region.

What&#39;s more remarkable is the second most funded sub-sector of foodtech was cell cultivation, which went to a single player: Believer Meats in Israel. Agritech garnered 11% of all funding, while Restaurant SaaS, Q-Commerce, and the Food Production sectors each took home 7% of the Foodtech funding pie.

MENA Foodtech Is All about Food Delivery, Q-Commerce & Cloud Kitchens & B2B Marketplaces

MENA's Foodtech and F&B Industry: Scaleup Funding Splits by Sub-Sector & Country

Fintech Deal Sizes have grown across the board over the past 5 years.

In the top 3 markets, average Seed cheque sizes have grown the most and are largest in Egypt, reaching $10.5M.

The average seed&nbsp;cheque size for Nigerian startups in 2022 was less than half of an Egytian seed, at $4.5 million. Average Early Stage cheques are&nbsp;highest in Nigeria, at $90 million.

Though both Egypt and Nigeria is home to fintech unicorns, only South Africa has started to&nbsp;see enough maturity to write late stage fintech cheques in 2022, which averaged $100M.

Funding Breakdown by Type–Volume & Value

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