Fintech bright spot as Africa catches up in bumper funding year
Companies in Africa close gap on Indian and Latin American firms
06 May 2021 - 19:45
Fintech companies in Africa raised more capital despite the Covid-19 pandemic, in contrast to their emerging-market peers such as Latin America, which saw a decline.
The continent saw fintech funding, including mergers & acquisitions (M&A), grow to $1.35bn in 2020 from $1bn in 2019, according to a report by BFA Global’s Catalyst Fund and Briter Bridges published on Thursday. While Indian and Latin American fintech companies still raised more money than those in Africa, their volumes fell from the previous year as they battled to close later-stage deals...
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