At the global scene, fintech funding fell 38% quarter-over-quarter (QoQ) to hit $12.9B — matching Q4 levels in 2020.
African fintech startup funding dropped by 58% in Q3 2022.
According to the CB Insights State of Fintech Q3 2022 report, investments in the sector have dropped significantly in Q3 2022.
The African fintech startup has always received a larger share of funding.
The report states that the sector raised $161 million in Q3 2022, significantly less than the previous two quarters, with $383 million in Q2 and $369 million in Q1.
“The number of deals has also dropped from 74 in Q1 2022 to 43 in Q3 2022; while Q2 2022 had 61 deals,” read a statement in the report.
In the second quarter of 2022, funding for startups across various regions in the world started witnessing a decline, but it appeared that African startups were not affected.
However, as the year progressed, the numbers showed that funding to African startups had decreased.
Despite the slowdown, early-stage fintech startups still raise the most money with 90% of deals announced, which consists 2% more than numbers in 2021.
There have not been any mega-deals of above $100 million.
At the global scene, fintech funding fell 38% quarter-over-quarter (QoQ) to hit $12.9B, matching Q4 levels in 2020.
A fierce new chapter of U.S. economic nationalism is shaking the global financial system—and the…
In a world where economic challenges and social disparities continue to deepen, Airbnb is directing…
As Africa positions itself as a global hub for business process outsourcing (BPO), new research…
Zambia has launched a new online entrepreneurship training program aimed at equipping young people with…
A new report from NETSCOUT Sytems reveals a troubling trend in the intersection of cyberwarfare…
Before enrolling in a recent training program led by Amazon Web Services (AWS), Cecilia K’Owiti,…