2020 Funding Report: East Africa Funding Q1 and Q2 2020

Published 22 May 2020
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Since 2015 the amount invested into technology companies in East Africa has grown from $152.5 million USD to $673.0 million USD in 2019, a compound annual growth rate of 44.9%. However, the challenging start to 2020 may be contributing to a cooling-off period in Q2 2020.

While there have been a number of high profile Series A raises secured by the likes of B2B delivery company Sokowatch ($14.0 million USD), career platform Fuzu ($3.8 million USD) and e-commerce platform Kasha ($1.0 million USD), highlighting some of the traction made by companies earlier in 2020, funding has dropped to $64.0 million USD.

In this report we take a closer look at some of the investment trends and companies in the East Africa region.

This report was first published in May 2020.