Nigeria Dominates African Startup Funding in August 2026

In August 2026, African startups experienced a notable increase in disclosed funding, with a total of $435.2 million raised by 32 startups, according to Nairametrics Research analysis of The Big Deal data. The top 10 deals accounted for $428 million, representing 98.35% of the total funding.

Nigeria emerged as the leading destination for startup funding, attracting $364.1 million, or 83.66% of the continent's disclosed funding, across 20 deals. Notably, the Egypt-based fintech Tanweely was involved in a $95 million M&A transaction by e-Finance, which was excluded from the total funding as it did not represent new capital.

ThriveAgric raised N5.3 billion (approximately $3.9 million) through its first commercial paper issuance to finance commodity purchases and agricultural trading. The month showed triple-digit growth compared to previous periods, indicating a robust startup ecosystem in Africa.