Africa’s fintech sector is both growing and maturing, with more startups active in the space than ever before, platforms increasingly offering a variety of services, and investment and acquisitions taking place to an unprecedented degree.
Every two years since June 2017, startup-focused news and research company Disrupt Africa has released the Finnovating for Africa: Reimagining the African financial services landscape report, tracking the extraordinary development of the fintech ecosystem across Africa over the last few years.
The 2021 edition, which considers data compiled by Disrupt Africa over six and a half years on fintech startups active in 25 countries across Africa, is for the first time available free to all as part of an open-sourcing initiative in partnership with key partners Flutterwave and GreenHouse Capital as well as MFS Africa, truID, Paga, DEMARS, Quona Capital, JUMO, Abjel Communications and Kuda.
It reports sustained – if slower – growth in the number of ventures, but also details major developments in terms of ecosystem maturity. The number of active fintech startups has increased by 17.3 per cent to 576, and these businesses are increasingly “rebundling the bank”. Meanwhile, it finds that since January 2015 277 fintech ventures have banked US$874,968,465 in funding, more than twice that raised by any other vertical over the same period.
The publication includes:
- Consideration of the regional spread and growth of fintech ventures;
- Discussion of startup activity in 10 sub-sectors of the fintech industry;
- Data on fintech startup launches by year;
- Tracking of funding and acquisitions in the fintech space.
- A detailed list of the 576 African fintech startups tracked by the report.
You can download your free copy here.
Finnovating for Africa 2021: Reimagining the African financial services is the latest publication released by Disrupt Africa’s research and analysis arm, which aside from the flagship annual African Tech Startups Funding Report also releases deep-dives into a variety of sectors of the continent’s tech startup ecosystem. Details on all other publications can be found here.