African startup funding staged a strong rebound in February 2026, with 40 startups raising more than $272 million in disclosed funding across deals worth at least $100,000.
This marks a 56.3% jump from the $174 million recorded in January 2026, and comes in slightly above the $254 million monthly average maintained over the trailing twelve months.
With February’s numbers added to January’s, total funding across the first two months of 2026 has surpassed $446 million — ahead of the $417 million raised over the same period in 2025.
This suggests momentum is building, even as the composition of capital continues to shift away from traditional venture equity toward more structured debt instruments.
February 2026 restored Africa’s startup funding to levels consistent with the trailing twelve-month average after a slow January start. The rebound was driven by several large deals, most of which were infrastructure-oriented or growth-stage financing for companies approaching potential IPO timelines.
West Africa’s surge: West Africa led the continent in total funding by region. However this surge was driven by Francophone West Africa (Benin, Cote d’Ivoire) rather than the traditional Nigeria hub.
Nigeria underperforming: Despite strong fundamentals and the CBN’s easing signal, Nigeria’s startup funding remained modest at $22M — a fraction of what was expected from Africa’s largest economy.
East Africa’s sharp decline: The region commanded just 3% of February 2026 funding, a dramatic fall from its 34% share in full-year 2025. Kenya’s funding has reduced significantly despite its strong macro environment.
