Don't sleep on the digital economy in Africa! The last year has witnessed massive growth in cryptocurrency transactions in the continent.
in Kenya with plans to invest $100 million in over 100 pre-seed blockchain startups within three years, EMURGO Africa announced investments in Adanian Labs and Adaverse, and Cardano announced a partnership with Kenya’s Pezesha to build a “peer-to-peer financial operating system.
Exchanges and wallets that allow users to buy and sell cryptocurrencies also experienced increased fundraising over the last twelve months. Examples include VALR , Cowrie Exchange, Yellow Card, VIBRA , Busha, OVEX, Ejara, Bitmama and Revix. Similarly, blockchain-enabled services that leverage blockchain technology across a variety of use cases also received their fair share of venture capital funding during the last twelve months. Examples here include fundraising rounds by Pravica, HouseAfrica, KappaPay, SunExchange, Chekkit, OneWattSolar, Seso Global and others.
Finally, studios, super apps and other platforms with broad Web3 missions also caught the eyes of global investors over the last twelve months. See fundraises by Nestcoin, Africa Blockchain Center and Jambo as among the key examples here.In addition to the Web3-focused players above, some startups in other sectors also announced their intent to use proceeds from recent fundraises to deploy or explore Web3 related projects.