Grace Ashiru
Forty startups across Africa raised more than $272 million in funding in February 2026 through deals worth at least $100,000, according to data from Africa: The Big Deal.
Monthly Comparison
The February total represents an increase from $174 million raised in January 2026, according to the data tracker. The figure is slightly above the $254 million monthly average recorded over the past year.
Deal Concentration
Six startups accounted for approximately 80 percent of the total funding raised in February, according to the data.
Major Transactions
Spiro, an electric mobility company, secured $57 million in debt financing across two transactions. Breadfast, an Egyptian online grocery platform, raised $50 million in a pre-Series C round. GoCab, a ride-hailing platform in CĂ´te d’Ivoire, announced $45 million.
Other significant deals included Terra Industries in Nigeria with $22 million added to a previously announced funding round, Enko Education in South Africa with $22 million in debt, and South African fintech lender Lula with $21 million from FMO.
Funding Structure
Equity investments accounted for 54 percent of capital raised in February, while debt financing made up approximately 45 percent, according to the data.
Regional Distribution
West Africa attracted 53 percent of total funding, followed by North Africa with 24 percent and Southern Africa with 21 percent, according to regional breakdown data.
By country, Egypt led with $64 million in funding, followed by Benin with $57 million, CĂ´te d’Ivoire with $45 million, and South Africa with $44 million.
Year-to-Date Performance
African startups raised more than $446 million in the first two months of 2026, compared to $417 million during the same period in 2025, according to Africa: The Big Deal data.
