African Fintech Startups Saw A Flood In VC Funding Last Year ...Middle East

As rising borrowing costs and recession concerns weighed on global venture capital investment in 2022, Africa’s start-up ecosystem attracted record funding. While most regions experienced double-digit declines in start-up funding last year, Africa posted gains in total investment volume, deals and number of investors. Start-up funding on the continent grew by roughly 5% in 2022, compared to a decline of 62% in Latin America and 39% in Asia Pacific. Globally, venture capital funding was down 35% at $445bn, albeit still well above the levels…

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