This would be a higher amount than the figure raised in the previous three years combined, according to an industry forecast. The increased inflows, partly due to investor interest in financial-technology businesses in Africa, helped deliver at least four so-called unicorns in Africa this year. They include Andela, Flutterwave and OPay.
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African startup inflows seen hitting record $5b this year
“We are seeing the coming of age of the ecosystem, it is really a function of time,” said Kola Aina, an investor with Lagos, Nigeria-based Ventures Platform, speaking at the conference.
