Africa’s startup funding space raised $139.4 million in total funding in September 2025, spanning 63 disclosed deals, while four startups chose not to reveal their funding amounts.
This represents a 25.7% decline from the $187.6 million raised in August across just 39 startups, signaling a moderation in investor activity heading into the final quarter of the year.
The decline in funding value between August and September reflects a broader cooling trend in Africa’s venture capital space since mid-2025.
Following a strong rebound in Q2 driven by mega-rounds in fintech and energy, investment momentum has slowed slightly as investors adopt a more cautious approach.
Despite the month-on-month dip, the top 10 startups in September collectively attracted $112.2 million, accounting for over 80% of the total disclosed funding, highlighting sustained investor confidence in high-performing ventures with robust business fundamentals and regional growth potential.
The latest analysis shows that investor interest remains strong across fintech, clean energy, logistics, and agriculture, sectors that continue to define Africa’s innovation economy. In terms of geography, Egypt, Nigeria, and Kenya maintained their positions as Africa’s startup hubs, jointly dominating deal volumes and investor attention throughout the year.
Top 10 African startups by total funding raised in September
Nigerian clean energy startup Mopo raised $6.7 million in debt financing led by Norfund, the Norwegian government’s development finance institution.
The company, which provides solar-powered mobile energy systems for off-grid communities, continues to attract global attention with its consumer debt-free model—already backed by Octopus Energy and British International Investment (BII).
The funding will help Mopo scale operations and strengthen its renewable energy footprint across Nigeria’s underserved regions.
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