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African startup funding dropped sharply from 406 in 2023 to 200 in 2024, marking a second consecutive year of decline amid a global capital shortage. Despite this downturn, the "Big Four" tech hubs—Nigeria, Egypt, Kenya, and South Africa—continued to attract the majority of investments, while fintech funding also saw a decline. However, signs of recovery emerged in late 2024 and early 2025, offering hope for improved funding prospects.
Basata Holding has increased its stake in Jordan's MadfoatCom to 25%, enhancing its role in the region's digital payments landscape. This strategic investment, made in collaboration with Jordanian financial institutions, aims to improve financial inclusion and digital infrastructure, particularly for SMEs. The partnership is expected to drive innovation and expand access to financial services in Jordan.
Omnispay, a UAE-based fintech startup, has secured $1.5 million in seed funding to enhance SME digital payments. The platform aims to streamline cash flow management for SMEs by integrating invoice management, payment disbursements, and micro-lending solutions, addressing the significant gap in digitized B2B transactions in the GCC. Since its launch in 2022, Omnispay has onboarded over 1,600 businesses and achieved 40% month-on-month growth in transaction volume.
Bahrain's edtech startup Unipal has secured Pre-Series A funding to expand its youth benefits platform into Saudi Arabia, targeting cities like Jeddah, Madinah, Dammam, and Khobar. The investment, led by Plus VC, underscores strong investor confidence in Unipal's rapid growth and innovative AI-powered app designed to enhance user experience and brand engagement. With a 98% student penetration rate in Bahrain and 250,000 users in Riyadh, Unipal aims to become the leading platform for youth engagement in the region.
Hasan Haider
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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