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Top 5 African funding rounds in 2022



In 2022, Africa saw a number of noteworthy financing indicators emerge, diverging from the path that other regions had taken. The positive result was seen in both the venture capital as well as blockchain-specific venture funding.

According to research by CV VC, Venture Rounds raised most of the money in Africa, accounting for 91.4% of capital from 12 deals, up from 43% from 6 deals in 2021. Here’s a list of the top 5 rounds African rounds in 2022:


Kucoin was able to raise $160,000,000, representing 33.8% of funds raised in 2022 by blockchain firms in Africa. This makes it the highest in 2022 by a single firm. Kucoin is a cryptocurrency trading site where users can buy, sell, and trade cryptocurrencies including Bitcoin, Ethereum, and Litecoin. It was established in 2017 and is now based in Seychelles. The company. The site has a tiered trading charge system, with rates lowering as users increase their trading volume. 

Kucoin also has its own cryptocurrency, known as Kucoin Shares (KCS), that can be used to pay trading costs and collect incentives. Overall, Kucoin is a popular alternative for traders searching for a broad selection of cryptocurrency options and low costs.

MFS Africa

MFS Africa had the second highest fund at $100,000,000 which is 21.2% of total funds raised by African blockchain firms in 2022. MFS Africa is a pan-African fintech startup that connects mobile money networks, banks, and other financial service providers throughout the continent through a digital payments center. The South African firm allows customers to use their mobile phones to send and receive money, make payments, and access additional financial services such as savings, loans, and insurance. 

MFS Africa’s services are offered in over 30 African nations, and the firm has agreements with over 200 million African mobile money customers. Its objective is to increase the accessibility and affordability of financial services for all Africans, regardless of geography or economic background.


VALR collected $50,000,000 from funding in 2022. This represents 10.5% of all funds raised by African blockchain firms in 2022. VALR is a cryptocurrency exchange platform situated in South Africa that allows users to buy, sell, and trade cryptocurrencies such as Bitcoin, Ethereum, and Ripple. The site was created in 2019 and has swiftly grown to become one of South Africa’s biggest cryptocurrency exchanges. 

By providing a user-friendly platform, cheap fees, and a variety of trading tools and features, VALR strives to make it simple for individuals and institutions to enter the cryptocurrency market. The South African Reserve Bank regulates the platform, and it has connections with top worldwide crypto exchanges to offer liquidity and enable trade in a variety of digital assets. VALR also provides a secure wallet solution for storing cryptocurrency and places a high emphasis on security and compliance to protect the safety of its customers.


Jambo received 7.9% – $37,500,000 – of all funds raised by African blockchain firms in 2022. This makes the firm fourth on the list of top rounds for 2022. Jambo is a tech firm that is inspired to empower African with technological tools to transform their lives. 

The company recently launched JamboColor, a cheap smartphone targeted at young Africans that has a lot of opportunities to earn in the Jambo Earn ecosystem. The Liberia-based company is expanding across nations such as Angola, Nigeria, Kenya, South Africa, Congo, Tanzania, Egypt, the Democratic Republic of Congo, Madagascar, Ghana, Morocco, Uganda, Nambia, Rwanda, Malawi, Mozambique, Togo, and Ethiopia.

Scroll was able to raise $30,000,000. The Seychelles-based firm got 6.3% of the total funds raised by blockchain firms in Africa in 2022. Scroll is a zkEVM-based zkRollup built on the Ethereum blockchain that enhances native compatibility for existing Ethereum applications and tools.

The firm which was launched in 2013 has attracted 18 investors with Qiming Venture Partners and Polychain being the most recent investors.

Other firms were able to raise $96,459,500 which is equal to 20.4% of the total money raised. 

Read also;

Top 20 blockchain investors in Africa

African funding: $3.14b raised in 570 deals in 2022

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