Startups in Nigeria, South Africa, Kenya and other African countries demonstrated remarkable resilience in the first half of 2026, securing about $1.4 billion in funding, nearly matching the levels achieved in H1 of 2025.

Despite a slow start to the year, a surge in June transformed the outlook, underscoring investor confidence in the continent’s innovation ecosystem.

Africa: The Big Deal, in its June update, noted that from January to June, 190 ventures raised over $100, 000, supported by over 264 investors. Funding was split two-thirds equity and one-third debt, reflecting a strong appetite for ownership stakes in Africa’s growth stories.

The report observed that by the end of May, total funding stood at $843 million, down 21 per cent year-on-year, with equity funding down 48 per cent YoY. Only February managed to surpass the 2025 monthly average, raising concerns about a potential slowdown.

June, however, delivered a dramatic rebound, with 48 ventures raising $515 million, the strongest monthly performance since July 2025. 91 per cent of funding was equity, reversing the earlier 50-50 split.

Equity funding in June alone, which was $468 million, exceeded the combined total of the previous five months, nearly tripled the 12-month average, and marked the best equity month since March 2022.

In terms of landmark deals sealed in the period under review, Africa: The Big Deal disclosed that Spiro led the charge with a $270 million raise, bringing its 2026 total to $327 million, the largest half-year raise since MNT-Halan’s $400m in H1 2023.

Flutterwave secured an estimated $100 million Series E, while MNT-Halan added $50 million.

According to the report, H1 2026 closed nearly on par with H1 2025, where total funding was -6% YoY and equity funding was -7 per cent YoY.

This performance, according to Africa: The Big Deal, highlighted Africa’s startups as resilient players in the global innovation landscape, capable of rebounding even in challenging conditions.