The fintech space in Africa is the only sector creating news lately. In the last five years, companies engaged with solving financial infrastructure challenges on the continent have started receiving big-ticket
The fintech growth can be attributed to rising incomes and access to mobile phones in the past few years. The fintech companies are also solving bigger issues of the State by working towards getting more and more population under financial inclusion.
Although the pandemic did pose a temporary blockage to investments, the financial service companies did have a fair share of funding in 2020.
Nigerian fintech Paystack's acquisition by the US-based Unicorn Stripe for an estimated USD 200 Mn rather turned a dull year into being eventful. Another acquisition in the fintech space in 2019 that hit headlines was that of DPO by Network International. The recent company to join the illustrious 'unicorn league' in Africa is another fintech Flutterwave.
This article compiles a list of the biggest deals in the African fintech industry in the last five years. The deals contain only investment rounds and not M&A deals.