African startups raised $365 million in funding for the month of June, pushing total funding raised in the first half of the year (H1) to over $1.4 billion. The figures, which exclude exits and count only deals above $100K, mark the fourth month this year in which startups across the continent secured over $250 million.
The money raised in H1 represents a significant 78% year-on-year increase compared to H1 2024, when startups raised just $800 million. It also makes H1 2025, almost on par with H2 2024, which saw $1.4 billion raised, a marginal 1.5% decline on a half-on-half basis.
Of the total raised in H1 2025, $950 million came from equity deals, a 79% increase compared to H1 2024. However, this figure is slightly lower (7%) from H2 2024.
Debt funding had shown a weaker trajectory earlier this year, totalling $177 million by end of May, a decline from the $225 million raised during the same period. June, however, reversed the trend with $227 million in debt funding announced, led by Wave’s $137 million raise.
As a result, total debt funding for H1 2025 increased to $400 million, reflecting a 55% increase compared to H1 2024.
Lungile is the Digital Editor for Startup.Africa, with a knack for storytelling, technology and innovative ideas. Working with Startup.Africa, she takes simple ideas and turns them into amazing stories.
Lungile Msomi
