Africa’s financial technology sector was the most popular among investors in 2019 with 77 African fintech start-ups raising a total of $107m during the year. This is according to the annual African Tech Start-ups Funding Report 2019 released by a start-up news and research portal, Disrupt Africa. It also discovered that 2019 was the best year so far for investment into the African tech start-up space, with 311 companies banking a combined $491.6m in the year, according to Connecting Africa. This made 2019 a record year for funding, driven by a 61 per cent increase in the number of investors in African tech start-ups, which reached 261. We look forward to documenting the continued rise of the ecosystem over the next five years too,” added Disrupt Africa co-founder Gabriella Mulligan.

Source: Punch January 28, 2020 01:16 UTC