African startups June fund raise is highest so far – Report

Start-ups in Africa closed $365 million in funding in June, according to Africa: The big deal.

The report stated that this has been the strongest monthly performance this year so far, and the best month in almost a year.

It noted, however, that it wouldn’t be right to think the H1 numbers are solely driven by the successful June results.

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“Indeed, the monthly tally has crossed the $250 million bar four times this year so far, making the (very) disappointing March results feel like a distant blip,” the report said.

The monthly average funding stands at $237 million in H1 (vs. $187 million in 2024, and $133 million in H1 2024 specifically.

The report stated that as a result, the H1 performance is very solid, and marks a significant improvement (+78 percent) compared to H1 2024 when ‘only’ $800 million had been raised.

H1 2025 is also on par with H2 2024 ($1.4 billion), with just a minor -1.5 percent decrease in HoH, and the trends look pretty similar if we look specifically at equity or debt, it noted.

On the equity front, $950 million was raised in H1 2025, significantly more than in H1 2024 (+79 percent) but slightly less than in H2 2024 (-7 percent).

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While the debt numbers didn’t look too good until the end of May ($177 million, vs. $255 million in the same period last year), June was pretty impressive with $227 million of debt funding announced, it stated.

“We hadn’t seen a monthly number that high for more than two years, including $137 million for Wave alone,” the report said.

“As a result, H1 closed with $400 million raised in debt, +55 percent compared to H1 2024, and pretty much exactly what had been raised in H2 2024 (-1 percent).”