Top 24 IT Startups Bridging the Technology Gap in Africa 2025

In Summary

• With $2.8 billion in venture capital funding in 2024—a 50% increase from 2023—IT startups are driving growth and innovation across Africa, and achieving tremendous success.
• The IT sector in Africa is projected to have a potential for over 5,000 new startups emerging annually, contributing to a digital economy valued at around $180 billion.
• Nigeria, Egypt, Kenya, Ghana, and Côte d’Ivoire are leading the charge in the IT startup market across Africa, supported by new policies like Nigeria’s Startup Act and Ghana’s Digital Roadmap.

Deep Dive!!

Within the last decade, the IT industry in Africa has experienced tremendous growth, especially across Fintech, e-commerce, mobile payments, and logistics sectors. The last couple of months saw the launch of many new IT startups across the continent—in 2024 alone, new African startups attracted over $2 billion in funding, which is lower than what was received in 2023. Africa has gained global competitiveness and recognition in the IT sector worldwide, revealing that it has evolved in technology.

According to current projections, the African IT startup ecosystem is expected to see a significant rise by the end of 2025, with the potential for over 5,000 new startups emerging annually until 2040, contributing to a digital economy valued at around $180 billion. Some estimations currently place the total value of African tech startups at up to $20 billion. 

The total funding—including seed funding, alternative investments and venture capital investments in IT startups in Africa 2024 alone was $2.8 billion in 2024, a 50% increase compared to 2023. Early-stage funding was especially active, with seed investments climbing 45% year-over-year. In the same year, the African Development Bank launched the $200 million West Africa Innovation Fund, which played a major role in the growth of IT startups across the continent. Also, global venture capital heavyweights like Sequoia Capital and Andreessen Horowitz entered the market, adding further momentum to the sector.

Below, we have highlighted the top 24 IT startups in Africa that are making a difference in the technology sector in the continent. Check them out!

Here are the Top 24 IT Startups Bridging the Technology Gap in Africa 2025

1. Chipper Cash—Uganda: Founded by Ham Serunjogi and Maijid Moujaled in 2018, Chipper Cash offers a cross-border payment platform, enabling seamless money transfers across African countries and beyond. They have raised over $250 million in funding.
2. Flutterwave—Nigeria: Iyinoluwa Aboyeji and Olugbenga Agboola founded Flutterwave in 2016.  Flutterwave provides payment infrastructure for global merchants and payment service providers, facilitating transactions across Africa; they have raised over $225 million in funding to date.
3. Twiga Foods—Kenya: Twiga Foods is a B2B food distribution company that connects farmers directly with vendors, streamlining the agricultural supply chain in Kenya. It was founded by Grant Brooke and Peter Njonjo in 2014 and has raised over $157 million in funding.
4. Jumo—South Africa: Jumo provides financial services infrastructure, enabling banks and fintech companies to offer loans and savings products to underserved markets. It was founded by Andrew Watkins-Ball in 2015 and has raised over $146 million in funding.
5. Yoco—South Africa: Yoco offers payment solutions for small businesses, including card machines and online payment tools, to facilitate business growth. It was founded by Katlego Maphai, Carl Wazen, Lungisa Matshoba, and Bradley Wattrus in 2015 and has raised $107 million in funding.
6. Wave—Senegal: Founded by Drew Durbin and Lincoln Quirk in 2018, Wave is a mobile money service aiming to make financial services more accessible and affordable across West Africa. They have raised $200 million in funding.
7. Andela—Nigeria: Founded by Iyinoluwa Aboyeji, Jeremy Johnson, Ian Carnevale, and Christina Sass in 2014, Andela identifies and develops software developers in Africa, connecting them with global companies in need of tech talent. They have raised over $180 million in funding.
8. Moniepoint—Nigeria: Founded by Tosin Eniolorunda in 2015, Moniepoint has raised over $110 million in funding. Moniepoint provides digital payment solutions and banking services, aiming to enhance financial inclusion for businesses and individuals across Africa.
9. MNT-Halan—Egypt: ​Founded by Mounir Nakhla and Ahmed Mohsen​ in 2017, MNT-Halan is a leading fintech company in Egypt, offering digital solutions including lending, payments, and e-commerce to unbanked individuals and businesses.​ They have raised $400 million in seed funding.
10. M-KOPA—Kenya: M-KOPA provides asset financing to underbanked customers, enabling them to acquire products like solar energy systems and smartphones through flexible payment plans.​ It was founded by Jesse Moore, Nick Hughes, and Chad Larson​ in 2011, and has raised over $250 million​ in seed funding.
11. Husk Power Systems—Tanzania: Founded by Manoj Sinha, Gyanesh Pandey, and Ratnesh Yadav​ in 2008, Husk Power Systems has raised over ​$103 million in funding. ​Husk Power Systems specializes in providing rural electrification through renewable energy solutions, focusing on mini-grids powered by biomass and solar energy.​
12. Planet42—South Africa: Planet42 offers a car subscription service aimed at providing access to personal vehicles for individuals overlooked by traditional banks, promoting inclusive mobility.​ It was founded by Eerik Oja and Marten Orgna​ in 2017 and they have raised over $100 million.​
13. Moove—Nigeria: Moove is a mobility fintech company that provides revenue-based vehicle financing to drivers across Africa, enabling them to own vehicles and participate in the ride-hailing economy.​ Founded by Ladi Delano and Jide Odunsi​ in 2020, Moove has received over $84 million in funding.
14. ​Wetility—South Africa: Wetility offers hybrid solar solutions powered by tech, providing affordable and sustainable energy alternatives to South African households and businesses. It was founded by Len Brand and Michael Maas​ in 2019 and has raised over $48 million in seeding funding.​
15. Nuru—Democratic Republic of Congo​: Founded by Jonathan Shaw​ in 2015, Nuru focuses on building and operating solar-based mini-grids powered by tech to supply reliable and clean energy to off-grid communities in the DRC.​to date, it has received over $40 million in seed funding.​
16. Sabi—Nigeria​: Founded by Anu Adasolum​ in 2020, Sabi provides a digital platform that supports informal trade by connecting merchants with suppliers and offering business tools to enhance their operations.​ The IT startup has received over $38 million​ in funding.
17. Lulalend—South Africa​: Founded by Trevor Gosling and Neil Welman​ in 2014, Lulalend is a digital lender providing fast and accessible funding solutions to small and medium-sized enterprises (SMEs) in South Africa.​ The startup has received over $35 million​ in funding.
18. LemFi—Nigeria: LemFi offers a digital platform facilitating seamless cross-border remittances and financial services for the African diaspora. Founded by Ridwan Olalere and Rian Cochran in 2020, LemFi has raised over $33 million in seed funding.
19. Peach Payments—South Africa: Founded by Rahul Jain and Andreas Demleitner in 2012, Peach Payments offers a comprehensive online payment platform designed to provide electronic payment services. Their platform utilizes a well-documented API for seamless integration, enabling businesses to collect payments via email and SMS. Additionally, they offer secure tokenization to store card data and enhance conversion rates with one-click checkouts, ensuring a safe and efficient payment experience across all digital channels. The amount of funding received to date is not available in the public domain.
20. VALR—South Africa: Founded by Farzam Ehsani, Theo Bohnen, and Badi Sudhakaran in 2018, and raised over $50 million in funding, VALR is a cryptocurrency exchange platform that enables users to buy, sell, and store various digital assets securely.
21. Kobo360—Nigeria: Kobo360 is a logistics platform that connects truck owners with businesses in need of transportation services, optimizing supply chain operations across Africa. It was founded in 2017 by Obi Ozor and Ife Oyedele II and has raised over $37.3 million in funding.
22. Paystack—Nigeria: Paystack provides a payment processing platform, enabling businesses to accept payments via multiple channels. It was founded by Shola Akinlade and Ezra Olubi in 2015 and had raised $10 million before being acquired.
23. Opay—Nigeria: Opay offers a range of services, including mobile payments, ride-hailing, and food delivery, aiming to simplify the day-to-day activities of human life. It was founded by Yahui Zhou in 2018 and has raised over $570 million in funding to date.
24. TymeBank—South Africa: Founded by Coen Jonker, Tjaart van der Walt, and Rudi Kimmie in 2012, TymeBank is a digital bank offering accessible and affordable banking solutions to South Africans. With a focus on financial inclusion, TymeBank provides zero or low-fee banking accounts and has expanded its services to the Philippines through GoTyme. In 2023, the bank achieved profitability and, in 2024, secured a $150 million investment from Brazilian fintech Nubank, elevating its valuation to $1.5 billion. It has raised $250 million in seed funding.