African startups raised $254 million in May, bringing the total amount invested in African startups so far in 2025 to over $1 billion.
According to a report by Africa: The Big Deal, Egypt-based startups raised the largest share of funding during the month. The biggest deal was secured by Egypt-based startup Nawy, which raised $52 million in a Series A round led by Partech, in addition to $23 million in debt, bringing the total amount raised to $75 million.
Seven ventures raised over $10 million in May, with Egyptian startups accounting for six of the seven deals.
The startups that raised more than $10 million include:
- Nawy which raised $75 million;
- Tasaheel, a subsidiary of MNT-Halan, completed the continent’s largest corporate bond issuance of $50 million;
- Valu, which is currently preparing for a public listing, raised $27 million from Saudi investors;
- Thndr, a fintech startup, raised over $15 million
- Sylndr, a mobility startup, raised $15.7 million in a Series A round
- Money Fellows, a fintech startup, raised $13 million in a pre-Series C round to support expansion beyond Egypt.
The only non-Egypt startup on the list was AURA, which raised $15 million to support its expansion into the U.S. market.
So far in 2025, Egypt startups have received the most funding on the continent, accounting for 31% of total investments. They are followed by South Africa (26%), Nigeria (15%) and Kenya (12%).
Despite the positive funding raise in May, four exits were also announced, three of which involved Egyptian ventures. MaxAB-Wasoko acquired Fatura, Miran, and Welnes merged, Catalyst Partners Middle East acquired Qardy, while BioLited acquired a major stake in Baobab+.
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