Top 10 Most Funded African Tech Startups in 2025

The Cairo-based startup raised $75 million in 2025, with $52 million coming from a Series A equity round led by Partech Africa and an additional $23 million provided by a syndicate of ten Egyptian banks. According to Innovation Village's summary of Disrupt Africa’s 11th annual report, this equity funding is one of the largest Series A rounds in African proptech history and comes in a year when 178 startups across the continent raised a combined $1.64 billion — a 46.2% increase on the $1.12 billion recorded in 2024.

"Although the 'funding winter' isn't completely over, we can see a clear thaw," the report notes, capturing a shift in investor behaviour in 2025.

Context and major rounds

Disrupt Africa's figures point to a concentrated flow of capital: fewer deals but larger ticket sizes. The 2025 ranking of the continent’s biggest funding rounds is notable not just for the dollar amounts but for the structures behind them — many of the top deals were non-equity instruments such as debt facilities, securitisations and receivables financing.

• d.light — $300 million: The Nairobi-based solar company increased its receivables financing by $300 million in a deal led by Mirova and arranged by African Frontier Capital. "This strategy lets d.light grow its distribution without giving up ownership," the report states, noting the company has approached a total financing capacity of nearly $1 billion.
• Sun King (Greenlight Planet) — $156 million: Sun King closed an $80 million loan in Nigerian naira and a $156 million securitisation in Kenya, the latter described as the largest securitisation of its kind in sub‑Saharan Africa outside South Africa. Combined, the transactions pushed the company’s 2025 capital intake above $230 million.
• Wave — $137 million: Senegal’s Wave secured €117 million (reported as $137 million) in debt financing in a round led by Rand Merchant Bank with participation from BII, Finnfund and Norfund to support working capital and expansion across West Africa.
• MNT‑Halan — $120.4 million: Egypt’s fintech unicorn completed two securitisation issuances in 2025 — approximately $49.4 million in May and $71.4 million in October — as part of a structured three‑year programme worth about $168 million.
• Spiro — $100 million: The electric‑mobility operator raised $100 million in a round led by FEDA with debt participation from Afreximbank to expand its battery‑swap network, which by late 2025 had deployed over 60,000 electric motorcycles and more than 1,500 swap stations across several countries.
• LXE Hearing — $100 million: Formed in 2025 from the merger of US-based Eargo and South Africa’s hearX, the new entity raised $100 million from Patient Square Capital to fund global expansion and technology development.

Geographically, Kenya led funding in 2025 with $879 million, followed by South Africa at $848 million and Egypt at $561 million, while Nigeria fell to fourth place. The dominance of structured and debt-like instruments among the largest rounds suggests established startups are increasingly tapping lenders and capital markets to scale without further equity dilution. Looking ahead, the report signals investors are favouring companies with proven revenue models and clear paths to profitability, and lenders appear more willing to treat select African tech firms as reliable credits rather than purely high‑risk bets.