10 Fintech Startups in Africa That Raised the Most Money in H1 2025

Africa’s fintech industry is proving once again that it’s not slowing down despite tighter global funding conditions. Between January and June 2025, the sector attracted over $661 million across 80 startups, with the top 10 raising more than $470 million. 

From mobile money powerhouses to innovative payment infrastructure providers, these companies are expanding financial access and pushing the continent’s digital economy forward.

Here’s a look at the biggest fintech fundraisers so far this year.

Wave Mobile Money (Senegal) – $137 million

Senegal’s Wave Mobile Money took the crown as Africa’s top-funded fintech in the first half of 2025, pulling in a massive $137 million in debt financing. 

The deal, backed by Rand Merchant Bank, British International Investment, and Partech Africa, is the largest single raise in the sector so far this year.

Wave has already transformed how millions in Senegal, Côte d’Ivoire, and Burkina Faso send and receive money. With more than 10 million users, its ultra-low fees and extensive agent network have made it a market leader in Francophone Africa. 

This new funding will help Wave expand into more West African markets and strengthen its on-the-ground presence.

Bokra (Egypt) – $58.9 million

Egyptian wealth-tech startup Bokra secured $58.9 million in debt financing from Aman Holding, marking one of the country’s biggest fintech funding rounds in 2025.

Founded in 2022, Bokra focuses on helping Egypt’s growing middle class access investment and wealth management tools that were once reserved for the elite. By removing traditional barriers, Bokra is opening up financial planning opportunities for millions who want to grow their savings and build wealth.

Aman Holding’s investment reflects a wider trend in Egypt backing fintech solutions that bridge financial gaps and serve underbanked communities.

Stitch (South Africa) – $55 million

In South Africa, API-powered payments company Stitch raised $55 million in a Series B round led by QED Investors, with participation from big-name backers including PayPal Ventures, Ribbit Capital, and Norrsken22.

Stitch provides enterprise-grade payment infrastructure used by top e-commerce brands, telecoms, and retailers across Africa. 

With this funding, the company plans to scale its technology and cement its position as a backbone for digital transactions across the continent.

LemFi (Nigeria) – $53 million

Cross-border payments startup LemFi raised $53 million in its Series B round, led by Highland Europe. 

Founded in 2021 by former OPay executives Ridwan Olalere and Rian Cochran, the company has quickly expanded to 27 markets, serving over 1 million users.

LemFi focuses on making international money transfers cheaper and faster, especially for Africans living abroad who face high remittance fees. This latest raise will help the company improve its technology, expand into new regions, and compete in the global remittance market.

MNT-Halan (Egypt) – $50 million

Egypt’s largest fintech, MNT-Halan, raised $50 million through a corporate bond issuance, the biggest of its kind in the country this year. The move reflects the company’s growing maturity, blending startup growth strategies with public market discipline.

Serving 5 million users, MNT-Halan offers everything from digital lending and payments to logistics. The new capital will boost its lending capabilities, allowing more small businesses and individuals to access much-needed credit.

ValU (Egypt) – $27 million

Egypt’s buy-now-pay-later (BNPL) giant ValU secured $27 million in fresh funding from Saudi Investment Bank and Sanabil Investments. 

The deal came at a milestone moment right as ValU debuted on the Egyptian Exchange. In a notable twist, Amazon converted its earlier investment into a direct 3.95% stake in the company.

Working with over 8,500 merchant partners, ValU offers installment plans of up to five years, making it easier for Egyptians to afford everything from electronics to travel packages. 

Over the past few years, it has built a reputation as one of the country’s most trusted consumer finance brands, and this funding will help it cement that position while pursuing regional opportunities.

Qardy (Egypt) – $23 million

In a first for Egypt’s fintech scene, Qardy was acquired by Catalyst Partners Middle East in the nation’s first-ever SPAC (Special Purpose Acquisition Company) deal valued at $23.15 million.

Founded in 2022, Qardy connects small and medium-sized businesses with a range of financing options, including loans, factoring, and leasing. 

By going public through the SPAC route, the company gains faster access to capital and a strategic partner to support its nationwide scale-up, with potential expansion into other MENA markets.

Zeepay (Ghana) – $18 million

Ghana’s leading remittance and mobile money provider, Zeepay, raised $18 million in debt funding from Verdant Capital to bolster its cross-border payments network.

Operating in over 20 countries, Zeepay processed an impressive $3 billion worth of transactions in 2023 alone. 

The new funds will help it strengthen international money transfer partnerships, expand mobile money adoption, and push into new markets in the Caribbean extending its footprint well beyond Africa.

Djamo (Côte d’Ivoire) – $17 million

Abidjan-based Djamo made history by closing Côte d’Ivoire’s largest-ever venture round, $17 million in April 2025. The round was led by Janngo Capital, with backing from SANAD Fund, Partech Africa, Oikocredit, Enza Capital, and Y Combinator.

Djamo’s mission is to bridge the gap between mobile money services and formal banking. Since launching, it has processed more than $4.5 billion in transactions and grown revenue nearly fivefold since 2022. 

With this new funding, Djamo plans to introduce credit and savings products, positioning itself as a fully-fledged digital bank for underserved Francophone markets.

Khazna (Egypt) – $16 million

Egyptian fintech Khazna rounded out the list with a $16 million Pre-Series B raise, taking its total funding to over $63 million. The round included heavyweights such as Quona Capital, Speedinvest, Aljazira Capital, and SANAD Fund for MSME.

Initially launched in 2020 as an earned wage access platform, Khazna has evolved into a multi-service financial super app. 

Today, it serves over 500,000 active users with products ranging from payroll loans to bill payments. Having already reached break-even profitability, the startup is now setting its sights on expansion into Saudi Arabia, aiming to replicate its inclusive finance model in the Gulf.