In September, a total of 49 African startups raised an estimate of over $174.68 million across the continent. Of the total number of startups, 19 startups raised undisclosed funds while 30 were said to have raised an estimate of $172.46.

This is, however, a drop from the previous month when 34 African startups raised an estimate of over $184.2 million.

Nigerian-based crypto exchange platform, YellowCard, led the continent with the highest funding round of $40 million in its Series B round for exponential business growth across the continent. Other notable funding includes South Africa's iiDENTIFii which saw the highest funding for southern Africa with $15 million.

Nigeria continues to lead across the continent with the total number of deals while countries like Egypt, South Africa and Kenya continue to lead in their respective regions.

Here's a breakdown of the funding across the African continent

West Africa

Data from DealBase Africa

This African region led with the most funding in September with a total of $112.4 million from 17 deals of which two were undisclosed. This is a remarkable increase from the previous month when the region raised $50m.

64 investors were said to have featured this month as Nigeria's YellowCard, led the region with $40 million in a Series B funding round.

Other notable funding include Farmerline (Ghana) - $1.5m, Vendease (Nigeria) - $30m, Oval Interactive (Nigeria) - $50k, Julaya (Côte d'Ivoire) - $5m, SecondStax (Ghana) - $1.6m, Remedial Health (Nigeria) - $4.4m, Tap Technologies (Nigeria) - $3m, Kippa (Nigeria) - $8.4m, KrediBank (Nigeria) - $180k, GetFundedAfrica (Nigeria) - $180k, HelpMum (Nigeria) - $250k, Bitmama (Nigeria) - $1.65m, NowNow (Nigeria) - $13m and Metaverse Magna (Nigeria) - $3,2m.

Undisclosed rounds include PEG Africa (Ghana) and ComiBlock (Nigeria). Fintech continues to dominate in this region as 75% of the funding raised was by Fintech platforms.

South Africa

Data from Deal Base Africa

In this region, South Africa dominated with all the funding rounds. The country led with 14 deals with nine being undisclosed rounds while the other five rounds led to a cumulative $26.2m.

16 investors were said to have participated in this round with digital identification platform, iiDENTIFii, leading with $15m in an unnamed funding round.

Other notable funding includes Drive to Own - $100k, SweepSouth - $11m, Local Knowledge - $50k and Lemon - $50k. Undisclosed rounds were led by Locumbase, Namola, Strove, BusyMed, De Novo Dairy, CreditAis, AgriKool, Mapha and PeleBox.

Healthtech saw the most funding in this region.

East Africa

Data from Deal Base Africa

East Africa saw five deals from Kenya, Uganda and Ethiopia. The region brought in a cumulative $22.4m by 15 investors.

Notable funding from this region includes Numida (Uganda) -$12.3m, Turaco (Kenya) - $10m, Shemach (Ethiopia) - $50k and Fleetsimplify (Kenya) - $50k. The funding in this region was spread across five sectors: PropTech, Fintech, InsurTech, E-Commerce and Transport and Mobility, respectively.

North Africa

Data from Deal Base Africa

In North Africa, a total of 12 deals brought a total of $11.45m by 17 investors. Of the 12 deals, five were undisclosed with Egypt-based e-Commerce platform, Mazaya, leading with the highest funding of $5m.

Other notable funding include Partment (Egypt) - $1.5m, Kumulus (Tunisia) - $1m, Ingame Sports (Egypt) - $1m, Exits.me (Egypt) - $1m and el-dokan (Egypt) - $550k.

Undisclosed funding rounds include Source Beauty, GroDesto, Carzami, 5 Quarters, emonovo and 3atlana

There was no recorded funding for Central Africa in September 2022. We return in November for the summary of funding in October.