African startups attracted more than $1bn in funding in the third quarter of 2026, with 167 deals recorded between July and September, as Moove’s $250m Series C round emerged as the largest funding transaction of the period.
The total represents a 31 per cent increase from the $785m raised in the corresponding quarter of 2025, according to figures published by technology platform Tech Safari.
Moove accounted for approximately 24 per cent of the quarter’s funding, placing the mobility fintech at the forefront of investment activity across the continent. Its $250m Series C round stood out among the transactions recorded during the three month period.
The figures highlight the role of large funding rounds in determining Africa’s overall startup investment performance, although the total amount raised does not, on its own, establish how widely the gains were distributed across early stage companies.
Odyssey Energy Solutions followed Moove with $74m raised through a combination of equity and debt financing, while Jumia Group secured $50m in post initial public offering equity.
The three transactions featured among the notable funding rounds recorded during the quarter, with Moove’s deal significantly exceeding the amounts raised by the other two companies.
For Nigerian entrepreneurs and investors, the funding figures provide a snapshot of the capital available to businesses operating in Africa’s technology and innovation ecosystem. However, the aggregate figures do not establish how much of the money went to Nigerian companies or how the funding was distributed among individual African markets.
The 167 deals recorded during the quarter also provide an important measure of investment activity alongside the headline funding total. Deal count and average transaction size can offer different perspectives on the market, particularly when a small number of large rounds account for a substantial share of the money raised.
Tech Safari’s figures show that African startup funding increased year on year in the third quarter, with Moove’s $250m raise serving as the defining transaction of the period.
