Fintech dominated Africa’s startup funding landscape in 2025. But early data from 2026 suggests investors may be widening their focus.
African startups raised $575 million across 58 deals between January and February 2026, according to Insights, with logistics, transport, and energy startups capturing a growing share of the capital as investors increasingly back companies building mobility and infrastructure systems.
In January, fintech maintained its lead, raising $131.6 million, with major rounds from Egypt’s ValU and NowPay helping drive funding activity during the month. The logistics and transport sector followed with $27.1 million. The turning point, however, came in February 2026.
The logistics and transport sector emerged as the top-funded sector for the month, raising $119.6 million. The surge was driven by notable rounds from Spiro, an e-mobility startup that raised $57 million, and GoCab, which secured $45 million.
Fintech dropped to the fourth most-funded sector, raising $54.1 million, as energy and water startups overtook it with $94 million in funding, largely driven by SolarAfrica’s $94 million raise.
The shift in momentum, highlighting growing investor interest in these sectors, appears to be intensifying in 2026 compared with the same period in 2025, where early signs of this trend were already visible.
In January 2025, fintech led funding activity while energy and water came a close second, raising nearly half of fintech’s total for the month. By February 2025, fintech still held the lead, but logistics and transport emerged as a stronger contender, raising more than half of fintech’s funding that month.
So far in 2026, Africa’s funding landscape has seen the presence of deep-tech startups in the investment mix. Nigerian defence-tech startup Terra Industries raised over $33 million across two deals so far this year alone to scale its advanced manufacturing operations. The continued fundraising suggests a growing willingness among investors to back startups building technology-driven industrial infrastructure.
Meanwhile, the agritech sector, which struggled to hold investor interest in 2025, is beginning to show tentative signs of recovery. Funding in agritech startups across Africa declined to $168.1 million in 2025 from $206.9 million in 2024. The slow pace continued into January 2026, when agritech startups collectively raised $200,000.
February brought renewed activity. Egypt’s Breadfast raised $50 million, while Lovegrass Ethiopia secured $5 million, pushing total agritech funding for the month to about $55 million. While still modest compared with sectors such as logistics, fintech, or energy, the rebound suggests investors may be reassessing opportunities in agriculture.
The first two months of 2026 paint a picture of a more diversified funding environment where fintechs continue to attract capital, but other sectors tied to mobility, energy, infrastructure, and food are gaining ground.
If this momentum continues through the rest of the year, Africa’s venture capital ecosystem could see a gradual rebalancing across sectors. While the fintech sector is unlikely to lose its importance, funding may begin to favour startups operating in other sectors, particularly at this time when investors are concentrating capital across fewer deals.
