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Q1 2023 VS Q3 2022 Funding Drops
While start-ups around the world who are trying to fundraise are all feeling the effects of the Venture Capital winter, it is likely that start-ups outside of the US will have an even harder time attracting capital for exactly the aforementioned reasons.
According to CB Insights, Q1 2023 saw funding drop by 30% Quarter-over-Quarter, compared to Q4 2022.
African start-ups were hit 2nd hardest, next to Latin American start-ups, and on-par with Asian funding results.
Related Report
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The Future of Fintech in Africa
Eighteen percent of the world’s population lives in Africa, and 57% of Africans are ‘unbanked’, without a bank account or a digital wallet. This presents a massive opportunity, making fintech the most dominant and funded tech sector in Africa today. This special report highlights how African fintechs not only have one of the largest total addressable markets globally but are also crucial for achieving financial inclusion and empowering unbanked populations. The potential impact of a successful fintech in Africa is unparalleled. To learn more about the drivers, barriers, and opportunities in African fintech, as well as progress toward financial inclusion, read the special report.
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