14 Largest Startups in Africa: Fintech, E-commerce, and the Leaders of Innovation in 2024

As Africa gains traction on the global business stage, African startups are emerging as significant players, drawing attention from global investors and transforming local economies. Here’s a look at some of the continent’s largest startups reshaping sectors such as fintech, e-commerce, and financial inclusion.

Africa’s Most Valuable Startups by Industry and Valuation

Flutterwave 🇳🇬
Valued at $3 billion, Nigeria’s Flutterwave is a fintech giant, enabling cross-border payments across Africa and supporting thousands of businesses in their digital operations. As one of the highest-valued African startups, Flutterwave is a leader in Africa’s digital payments landscape.

Opay 🇳🇬 🇨🇳
With a valuation of $2.7 billion, Opay operates as a mobile payment service and provides other conveniences like food delivery and transportation across Nigeria. Backed by strong Chinese investment, Opay is integral to Nigeria’s mobile service landscape.

Chipper Cash 🇺🇬 🇬🇭 🇺🇲
Valued at $2.2 billion, Chipper Cash facilitates cross-border payments across multiple African nations and the United States. Its money transfer platform is a significant resource for those sending remittances and making mobile payments in Africa.

Wave 🇸🇳 🇺🇲
Senegal-based Wave, valued at $1.7 billion, is a mobile money platform offering low-cost payment services throughout West Africa.

Andela 🇳🇬 🇺🇲
Valued at $1.5 billion, Andela connects African software developers with international companies, showcasing Africa’s tech talent on a global stage.

Esusu 🇳🇬 🇮🇳
Esusu, with a $1 billion valuation, uses technology to boost credit scores and provide housing security, particularly for immigrant communities in the U.S.

More High-Value African Startups in 2024

InterSwitch 🇳🇬
With a $1 billion valuation, InterSwitch remains a pioneer in Nigeria’s digital payment solutions.

MNT-Halan 🇪🇬
Egypt’s MNT-Halan, valued at $1 billion, combines fintech and microfinance to serve underserved communities.

Moniepoint 🇳🇬
Moniepoint provides essential financial services for small businesses across Nigeria, valued at $1 billion.

MOOVE 🇳🇬
At a valuation of $750 million, MOOVE is a vehicle financing company that supports drivers across Africa, expanding access to transportation.

Fawry 🇪🇬
Valued at $611 million, Egypt’s Fawry is a widely used digital payment solution.

Jumia 🇳🇬 🇬🇭 🇫🇷
Africa’s largest e-commerce platform, Jumia, valued at $520.4 million, connects consumers with goods across multiple countries.

M-KOPA 🇰🇪
With a valuation of $325 million, Kenya’s M-KOPA provides asset financing for solar products, reaching rural households.

Sabi 🇳🇬
Valued at $300 million, Sabi supports Nigeria’s informal businesses with logistics and trade support.


These African startups are evidences of the continent’s booming tech and fintech ecosystem, attracting international investment and fueling local innovation in industries ranging from mobile services to digital payments. With significant valuations, each of these companies plays a role in defining Africa’s position in global business.


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