Africa: number of fintech startups 2017-2021

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As of 2021, 576 fintech startups had headquarters in Africa. The number of companies increased from 491 in 2019, a growth of 17.3 percent. Fintech is the most populated sector in Africa's tech scene. It also receives the highest share of funding among other startups' categories.

Number of fintech startups in Africa from 2017 to 2021

Characteristic	Number of fintech startups
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Release date

June 2021

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Region

Africa

Survey time period

2017 to 2021

Supplementary notes

The source adds the following information:
"Fintech - financial technology - is an umbrella term used to describe tech-enabled solutions disrupting traditional financial services, and challenging incumbent service providers. While increasingly, many companies include an element of fintech in their work, and incumbents launch fintech-esque products in-house, this report focuses on startups with a fintech solution at the core of their business. So, for example, while an e-commerce platform which accepts payments is not a fintech startup for the purposes of this report; an agri-tech company operating a crowdfunding solution specifically for farmers is considered a fintech venture. A fintech product rolled out by a bank or established company will not be included in this report even if it self-refers as a startup".

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