African startups secured a remarkable $365 million in fresh funding last month, making June 2025 the strongest month for fundraising so far this year and the most robust performance in nearly a year, according to new data published by Africa: The Big Deal.
The report highlights that while June’s stellar figures lifted the mood across the continent’s startup scene, they shouldn’t overshadow the overall steady momentum African startups have maintained throughout the first half of the year.
So far in 2025, startup funding in Africa has topped the $250 million mark four times — a sign that investor confidence is recovering from the setbacks of previous quarters. By comparison, March’s weaker results now seem like a distant anomaly.
The average monthly funding in the first half of 2025 now sits at $237 million, a significant climb from the $187 million average recorded throughout 2024 and a huge leap from $133 million during the first half of last year alone.
Thanks to this growth, startups on the continent have collectively raised around $1.4 billion in the first six months of 2025 — a strong 78 percent increase compared to the same period last year, when just $800 million was secured. This also puts H1 2025 almost level with the second half of 2024, when startups attracted $1.4 billion, reflecting only a slight 1.5 percent dip in half-on-half performance.
Breaking the numbers down, equity funding remains the dominant force, with African ventures raising $950 million in equity so far this year. That figure is up by 79 percent compared to H1 2024, although slightly lower than H2 2024’s total, showing a moderate 7 percent decline.
Debt funding, which looked subdued for much of the year, surged in June. Startups announced $227 million in debt deals last month alone — the highest single-month debt total in more than two years — boosted in part by a significant $137 million round for fintech firm Wave. By the end of June, total debt funding had reached $400 million, up 55 percent year-on-year and nearly matching the $405 million raised in H2 2024.
As investor appetite shows renewed strength, the first-half results suggest Africa’s tech founders are back on the front foot — with many hoping this momentum will carry through the rest of the year.
