• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Sectors

Moniepoint, Tyme‘s mega deals push African startups’ fundraising to $2.2 billion in 2024 

Samson Akintaro by Samson Akintaro
January 6, 2025
in Sectors, Tech News
Startup funding: Kenya overtakes Nigeria with $800 million raised in 2023 – Report
Share on FacebookShare on TwitterShare on Linkedin

African startups cumulatively raised a total of $2.2 billion in 2024 driven by two mega deals by Nigeria’s Moniepoint and South Africa’s Tyme Group.

According to the funding report released by research firm, Africa: The Big Deal, the amount included equity, debt, and grants secured by the continent’s startups.

While the amount raised in 2024 is quite significant, it represents a 25% drop in funding compared to the $2.9 billion raised on the continent in 2023.

RelatedStories

BIG READ: Amidst drought in funding for Nigerian tech startups, stakeholders proffer 5 solutions

African startups raise $365 million in June, marking best funding month in nearly a year 

July 3, 2025
BIG READ: Amidst drought in funding for Nigerian tech startups, stakeholders proffer 5 solutions

Egypt dominates the top African startups funding in May 2025, none from Nigeria 

June 30, 2025

Breakdown of the funding 

The report shows that a total of 188 ventures raised $1 million or more in 2024, which is about 10% less than what was recorded in 2023.

On the exit front, there were 22 exits made public last year, versus 20 in 2023.

“We realise that the relative counter-performance of 2024 is mostly to be blamed on a slow start of the year: just under $800 million raised in H1, the slowest semester since 2020.  

“However, there was a serious rebound in the later part of the year as $1.4 billion was raised in H2 alone (+25% YoY and +80% compared to H1), which made it the second-best semester since the beginning of the ‘funding winter’ in mid-2022.  

“The numbers were driven in part – but absolutely not in full – by the two mega deals of Moniepoint and Tyme Group in Q4, minting two new unicorns back-to-back, the first such events since early 2023,” the report stated.

Decline in debt funding 

According to the report, one positive takeaway from the 2024 funding was the decline in debt compared with the previous year.

  • In 2023, dubbed “The Year of the Debt,” debt funding constituted a substantial 38% of total funding.
  • However, this share declined to 30% in 2024, with debt funding contracting by 40% YoY. Total equity raised in 2024 reached $1.5 billion, reflecting an 11% drop from 2023’s $1.7 billion but signaling a recovery after the steep 57% YoY decline in equity funding seen in 2023.
  • The research firm noted that this stabilization of equity funding levels is a welcome development, particularly given the challenges faced in 2023, adding that this highlights growing investor confidence and a potential shift toward a more balanced funding landscape.

What you should know 

Both Moniepoint and Tyme became the newest African unicorns in 2024 after raising $110 million and $250 million respectively.

  • Founded in 2015 by Tosin Eniolorunda and Felix Ike, Moniepoint in October 2024, secured a $110 million investment from multiple investors including Google, bringing its valuation to $1 billion.
  • The Series C investment was led by Development Partners International’s African Development Partners (ADP) III fund – a premier fund focused on Africa.
  • In December, Patrice Motsepe-backed Tyme Group also raised $250 million in Series D funding round, which brought the fintech’s valuation to $1.5 billion.
  • The Series D round was led by Brazil’s Nubank, Latin America’s most valuable financial services company, which contributed $150 million.

Follow us for Breaking News and Market Intelligence.
Tags: African startupsMoniepointTyme
Samson Akintaro

Samson Akintaro

Samson Akintaro is a tech enthusiast and has over a decade experience covering and writing about the tech industry. He is currently the Tech Analyst at Nairametrics.

Related Posts

BIG READ: Amidst drought in funding for Nigerian tech startups, stakeholders proffer 5 solutions
Sectors

African startups raise $365 million in June, marking best funding month in nearly a year 

July 3, 2025
BIG READ: Amidst drought in funding for Nigerian tech startups, stakeholders proffer 5 solutions
Metrics

Egypt dominates the top African startups funding in May 2025, none from Nigeria 

June 30, 2025
Top fintech apps in Nigeria with over 10 million downloads as of May 2025 
Financial Services

Top fintech apps in Nigeria with over 10 million downloads as of May 2025 

June 23, 2025
African tech startups
Metrics

Nigeria’s startups raised over $100 million in Q1 2025 – Here are the top 10 deals 

May 31, 2025
FT ranks fintech unicorn, Moniepoint, Transcorp, 15 Nigerian Firms among Africa’s Fastest Growing companies 2025 
Business News

FT ranks fintech unicorn, Moniepoint, Transcorp, 15 Nigerian Firms among Africa’s Fastest Growing companies 2025 

May 14, 2025
Nigerian Startups
Sectors

Lack of funding major cause of African startups’ shutdowns in 2024 -Report  

April 5, 2025
Next Post
Crude Oil prices

Global oil prices dip to $76.23 after hitting October highs 

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank








DUNS

Recent News

  • IGP sues Abu Arome, 3 Ghanaians over alleged forgery of company shares allocation document
  • Nigeria’s oil rig count rises to 46 in July 2025 – NUPRC
  • Oyo State approves N7.7 billion for two surveillance aircraft to combat insecurity 

Follow us on social media:

Recent News

IGP prosecutes Nigerian businessmen over alleged N13.5 billion forex fraud dispute  

IGP sues Abu Arome, 3 Ghanaians over alleged forgery of company shares allocation document

July 9, 2025
Nigeria’s gas flare commercialisation programme could unlock $2.5 billion investment – NUPRC 

Nigeria’s oil rig count rises to 46 in July 2025 – NUPRC

July 9, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics