Mastercard Study: African Fintech Sector Had One of the Highest Year-on-Year Growth Rates in Funding in 2021
https://krakow3d.com/wp-content/uploads/2022/11/mastercard-study-african-fintech-sector-had-one-of-the-highest-year-on-year-growth-rates-in-funding-in-2021.jpg In 2021, African fintech startups accounted for 61% of the $2.7 billion in venture capital funding that was deployed on the continent, a new study has found. While its share of global fintech funding is just over one percent, the continent’s fintech sector still recorded one of the highest year-on-year growth rates globally. ‘Record-High Number of Deals Closed’ According to the findings of a new Mastercard study , African fintech startups — whose number grew from 311 in 2019 to 564 in 2021 — accounted for “61% of the USD 2.7 billion deployed across Africa in 2021.” The findings also show that fintechs’ share “of the record-high number of deals closed” in that year was 27%. When compared with the $131.5 billion that was raised globally, African fintech’s share of th...