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JOHANNESBURG, April 18 (Reuters) – African start-ups attracted a record $5.2 billion in venture capital last year, bouncing back from a pandemic-induced dip in 2020 with a nearly five-fold increase in investments, according to data released by an industry group on Tuesday.
The success of companies like Nigeria’s Paystack, acquired in 2020 by U.S. payments firm Stripe, and fellow fintech Flutterwave, valued at over $3 billion, has fuelled international interest in up-and-coming businesses on the continent. Read full story
“African startups raised more in 2021 alone than the preceding seven years combined,” the African Private Equity and Venture Capital Association (AVCA), which promotes private investment on the continent, wrote in a report.
View more : https://www.cnbcafrica.com/2022/african-startups-drew-record-5-2-billion-in-venture-capital-last-year-industry-group/?fbclid=IwAR1phz96ySlxk-BLSskZea35KnVBubmDGiWh1eSwMFeTlVzaBiv1KcJn_pI
Source : Source: CNBC Africa
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