What African companies “need to look like” today to raise $50m+
By Risana Zitha, Managing Director and Head of Africa at DAI Magister
Prior to 2022, African growth companies had begun raising $50m+ equity rounds regularly for the first time in history, mainly in fintech but increasingly in sectors such as logistics, education, and healthcare. Since the market downturn, those large rounds have slowed to a trickle, even though today there are more African companies than ever before who are truly “eligible” to raise that kind of capital.
This growing cohort, alongside a larger group aiming to raise rounds in excess of $25 million, share the common question, “what will I need to look like now to aspire to raise that kind of funding to continue growing?”. The question is even more pressing today since many successful businesses have already raised interna...
