African start-ups secured $272 million in funding during February 2026, with more than 40 ventures announcing deals valued at over $100,000 each. The figure marks a significant recovery from January’s $174 million and slightly exceeds the previous 12-month monthly average of $254 million, highlighting renewed investor confidence in the continent’s tech ecosystem.
Brandspur Banking News Desk reports that 54 per cent of the February funding came in the form of equity, while 45 per cent was debt financing. The number of start-ups receiving funding also rose from January, although it remained just below the 12-month average of 46 deals per month. Analysts note that February’s activity reflects a rebound to the level of investment typical throughout 2025, following a quieter start to the year.
The month’s funding was heavily concentrated among a few major deals. Benin-based Spiro raised $57 million in debt across two transactions, while Egypt’s Breadfast secured $50 million in pre-Series C funding. Côte d’Ivoire’s GoCab attracted $45 million through a combination of equity and debt. Other notable deals included Nigeria’s Terra Industries topping up a previous round with an additional $22 million, South Africa’s Enko Education raising $22 million in debt, and Lula securing $21 million from development finance institution FMO. Together, these six companies accounted for 80 per cent of February’s total funding.
Geographically, Egypt ($64 million), Benin ($57 million), Côte d’Ivoire ($45 million), and South Africa ($44 million) led funding totals. West Africa dominated regionally, capturing 53 per cent of all funds, followed by Northern Africa at 24 per cent and Southern Africa at 21 per cent. East Africa, which led in 2025 with 34 per cent of total funding, saw a sharp decline in February, accounting for only three per cent of the total. Year-to-date 2026, the region remains at just four per cent of overall funding.
Investors continue to focus on high-impact, scalable tech solutions capable of driving growth across Africa’s digital economy. The February results suggest that while funding is returning to pre-January levels, investment remains highly concentrated in a select group of high-potential start-ups, reinforcing the need for strategic support and visibility for smaller ventures across the continent.
