These African companies are unicorns because many of them are worth more than $1 billion. A unicorn company is a privately held startup valued at over $1 billion.
After a brief decline in funding of African startups after Covid-19, African countries are back on the rise and cost billions of dollars. While the news of fraud, bankruptcy, and liquidation has put a drab cloak on African startups, in the midst of the chaos, many have thrived.
Here are African Companies Worth Billions
1. Flutterwave – $3 billion (Nigeria)
Founded in 2018, it is valued at $3 billion and provides payment solutions in Africa while enabling international transactions. It has secured over $475 million in funding, with notable investors like Tiger Global and DST Global. 
2. OPay – $2 billion (Nigeria)
Founded in 2018, it is valued at $2 billion. It was first a ride-hailing service and food delivery service.
Currently valued at $2.75 billion, it offers various digital financial services and has raised over $500 million, including a $400 million Series C round led by SoftBank Vision Fund 2 with participation from Sequoia Capital China.
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3. Wave – $1.7 billion (Senegal)
Founded in 2018, it was formerly called Sendwave and it is now worth $1.7 billion. Wave is based in Senegal but offers low-cost mobile money services.
It raised $200 million in a Series A funding round from investors including Stripe and Sequoia Heritage, valuing it at $1.7 billion.
4. Andela – $1.5 billion (Founded in Kenya and Nigeria)
This offers talent to a global marketplace. It was founded in 2014, connects companies with tech professionals.
Andela secured over $380 million, including a $200 million Series D funding round, achieving a valuation of $1.5 billion with backing from SoftBank and the Chan Zuckerberg Initiative.
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5. TymeBank – $1.5 billion (South Africa)
Founded in 2024 and currently valued at $1.5 billion. This South African digital bank offers transactional accounts, savings products, and cash advances for low-income people.
Its parent company, Tyme Group, raised $250 million in a Series D funding round led by Nubank. Key investors include M&G Catalyst Fund, Tencent, African Rainbow Capital, and Norrsken22.
6. Moniepoint – $1.5 billion (Nigeria)
This Nigerian fintech was founded in 2015 is valued at $1 billion. The company specializes in digital banking and payment solutions tailored for businesses and people, providing credit and management tools.
It recently secured $110 million in Series C funding, with investors such as QED, Development Partners International, Google’s Africa Investment Fund, and Lightrock.
7. Chipper Cash – $1.25 billion (Nigeria)
Founded in 2021, has achieved a valuation of $1.25 billion by enabling money transfers across Africa and offering card and investing products. The company has raised over $300 million from notable investors such as FTX, Ribbit Capital, Bezos Expeditions, and SVB Capital.
8. MNT-Halan – $1.25 billion (Egypt)
This African company, founded in 2017, also holds a valuation of $1 billion. It provides services like digital lending, payments, e-commerce, and buy now, pay later solutions to unbanked populations.
The company has secured over $500 million in equity and debt financing, with backers including Chimera Investments, Apis Growth Fund II, and Development Partners International.
9. Interswitch – $1 billion (Nigeria)
They’ve been in the payments game for a long time, their infrastructure startup started in 2002.
As a unicorn valued at $1 billion, the company provides integrated payment solutions across the continent. It has secured over $300 million in investment, highlighted by a $200 million funding round with participation from Visa, Helios, and Leapfrog.
10. Paystack – $1 billion (Nigeria)
Paystack is a payment processing service operating in Nigeria, Ghana, Kenya, Cote d’Ivoire, and South Africa. They handle a whooping US$250 million in transactions monthly and three billion API requests in Q4 2024.
Founded in 2015, Paystack reached unicorn status when Stripe acquired it for $200 million in 2020, bringing its valuation to over $1 billion.
Overall, these fintech companies represent significant growth and investment in Africa’s financial technology landscape.
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