Despite macroeconomic headwinds, African startups continued to draw strong investor interest in May 2025, with Egypt taking a dominant lead in deal volume and value.

According to disclosed transactions tracked across fintech, healthcare, housing, and transport sectors, the top 10 startups collectively raised over $279 million, underscoring investor confidence in Africa’s innovation ecosystem.

While Nigerian startups attracted notable investor interest, none of the disclosed funding rounds matched the scale of deals raised by startups in other countries during the same month.

Despite the volume of activity, Nigeria lagged in terms of individual deal size compared to its regional and global peers in May.

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Based on data from The Big Deal Startups Database, Nairametrics takes a deep dive into the top 10 disclosed deals that shaped the fundraising landscape in Africa this past month.

myDawa (Kenya) – $9.6 million | Venture Round | Healthcare

Rounding out the top 10 is myDawa, a Kenyan health tech startup. The company closed a $9.6 million venture round led by global backers including the Investment Fund for Developing Countries (IFU) and Alta Semper Capital. The funding is aimed at scaling its e-pharmacy platform, diagnostics services, and B2B distribution model across East Africa.

Money Fellows (Egypt) – $13 million | Pre-Series C | Fintech

Savings and credit cooperative platform Money Fellows raised $13 million in a pre-Series C round led by Al Mada Ventures, Nclude, and CommerzVentures. The startup’s digitalization of traditional rotating savings models continues to resonate across Africa and the diaspora.

Aura (South Africa) – $15 million | Series B | Healthcare

South African healthtech startup Aura, which offers on-demand emergency response services, secured $15 million Series B funding from Partech Africa and Cathay AfricInvest Innovation Fund (CAIF). The healthtech startup is building robust emergency response systems powered by AI and real-time geolocation services.

Sylndr (Egypt) – $15.7 million | Series A | Logistics & Transport 

Sylndr, Egypt’s digital used-car marketplace, raised $15.7 million in a Series A round from Development Partners International, Algebra Ventures, Nuwa Capital, Uncovered Fund, Raed Ventures, and Beltone Venture Capital. The capital injection is aimed at enhancing vehicle sourcing, inspection tech, and warehousing logistics.

Thndr (Egypt) – $15.7 million | Venture Round | Fintech

Retail investing platform Thndr also raised $15.7 million in a venture round supported by marquee investors including Prosus Ventures, Y Combinator, BECO Capital, Endeavor, Jameel Investment Management Company, Raba Partnership, and Angel Investors. The platform has been pivotal in democratizing stock market access for young Egyptians.

Qardy (Egypt) – $23 million | M&A | Fintech

Fintech infrastructure provider Qardy secured $23 million through a strategic merger & acquisition deal led by Catalyst Partners Middle East (CPME). The consolidation highlights Egypt’s maturing fintech ecosystem, where strategic partnerships are gaining ground over early-stage VC bets.

Nawy (Egypt) – $23 million | Debt | Housing

Nawy closed a $23 million debt facility from a consortium of Egypt’s largest banks and financial institutions. This dual-structured funding highlights investor appetite for proptech and the growing middle-class demand for housing solutions.

ValU (Egypt) – $27 million | Venture Round | Fintech

Egyptian BNPL and consumer financing platform ValU raised $27 million in a venture round backed by Saudi Investment Bank (SAIB) and Sanabil Investments. With its buy-now-pay-later and lifestyle financing solutions, ValU’s cross-border appeal positions it to expand deeper into MENA markets (Middle East and North Africa region).

MNT-Halan (Egypt) – $50 million | Bonds | Fintech

 Egypt’s leading fintech super app, MNT-Halan, raised $50 million via bond issuance, further strengthening its balance sheet to support lending and digital banking services. While investors were undisclosed, the fundraising marks another significant milestone for one of Egypt’s top fintech players.

Nawy (Egypt) – $52 million | Series A | Housing

Leading the funding chart, Egypt-based proptech startup Nawy secured an impressive $52 million Series A round led by a syndicate of heavyweight investors including Partech Africa, e& capital, March Capital Investments (MCI), Verod-Kepple Africa Ventures (VKAV), and Endeavor.

The funding is expected to power its nationwide expansion and digitize real estate transactions in Egypt. The proptech platform is reinventing the homebuying experience in North Africa.

What you should know 

Egypt reaffirmed its dominance in Africa’s startup ecosystem, with seven out of the top ten funding deals secured by Egyptian startups, underscoring the country’s leadership in fintech and housing innovation.

Fintech remained the most attractive sector on the continent, accounting for six of the ten largest transactions.

  • The funding landscape features a healthy blend of equity investments, debt financing, bond issuances, and mergers & acquisitions, indicating a maturing and increasingly sophisticated capital market.
  • Regionally, while Egypt and South Africa continued to lead the pack, Kenya stood out with a notable healthtech deal, reflecting growing diversification across the continent’s innovation hubs.