Despite a large youthful, digitally savvy population and growing mobile usage, Africa has lagged behind even its emerging market peers, like Latin America, when it comes to venture capital activity. But the African fintech market has been accelerating, with startups securing around $330.5m in H1 2021, more than double the amount raised the entire year before, according to a report from Disrupt Africa, a tech-focused research and news organization based in the region.
"Africa is almost like a blank canvas that VCs and startups can build on," Pierre Suhrcke, a partner at European growth investor TempoCap, said. "We're going to see a quantum leap in the development of [its] ecosystem and there's a great amount of opportunity for really strong returns."
https://pitchbook.com/news/articles/Africa-fintech-startups-unicorns