African fintech is seeing lots of activity, with deals to African fintech companies rising from 44 in 2017 to 63 in 2018, and disclosed funding up more than 3x, from $80M to $260M.
Africa has a thriving fintech industry that is leapfrogging traditional tech. Startups are building applications for the 66% of citizens in Sub-Saharan Africa that are unbanked, according to the World Bank.
Take M-PESA, the mobile money transfer and financing service founded in 2007. In Kenya (and some other countries in Africa), M-PESA is accepted nearly everywhere, and transactions can be made with any mobile phone.
Other areas of African fintech are also seeing lots of activity — deals to African fintech companies rose from 44 to 63 year-over-year, and disclosed funding was up more than 3x, from $80M to $260M.
Below, we use the CB Insights database to identify 35+ Africa-based private fintech companies.