VC-funding in West Africa has already got off to a quick start in Q3 2021. Alerzo, a Nigerian start-up digitising informal retail supply chains, just announced a $10.5 million USD Series A funding round. Of the 19 funding rounds in Q3 so far, 12 have been disclosed as 6-figure tickets ranging from seed to Series B funding rounds.
Total funding across the West Africa region in Q3 2021 has already reached $186 million USD, bringing the total raised in 2021 to $841 million USD. However, while the median amount raised per quarter has almost doubled from $69.2 million USD in 2020 to $129.4 million USD in 2021, the median number of deals per quarter has halved from 39 in 2020 to 19.5 in 2021.