How much funding have Neobank startups in Africa raised?

Neobank startups in Africa have raised $203.4M in disclosed funding.

Who invests in Neobank startups in Africa?

Launch Africa has backed 4 Neobank startups, followed by Y Combinator (4) and Acasia Ventures (3).

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Neobank startups in Africa

StartupList Africa tracks 34 Neobank startups across Africa, which have raised $203.4M in disclosed funding. Nigeria has the most, with 17, followed by Kenya (6) and Egypt (3).

Companies: 34; in this sector
Avg. Deal Size: $4.4M
Total Funding: $203.4M

GroupFintech & Capital10 sectors

Updated 27 Oct 202634 companiesSource: SLA Startup IndexHow sectors are assigned →Full directory →

All Neobank startups34

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#	Startup	What they do	Last round	Raised	Team
1	AibancNigeria	Aibanc offers AI-powered banking for High Earners Not Rich Yet (HENRY).	Not disclosed	Not disclosed	2–10
2	MintynNigeria	The Soft Life Bank: digital banking, bills and payments in Nigeria	Not disclosed	Not disclosed
3	PlumterNigeria	Plumter is helping to facilitate easy foreign payments and international banking for African businesses.	Seed	Not disclosed	2–10
4	AkuNigeria	Banking made simple for everyone with Aku	Funding Round	Not disclosed	11–50
5	MenthumEgypt	Menthum is an Egypt-based FinTech venture which is devising a digital saving solution that's simple & secure.	Pre-seed	Not disclosed	11–50
6	Mekka GroupDr Congo	Mekka is revolutionizing financial services across Africa by building the continent’s first dedicated neobank for enterprises.	Funding Round	Not disclosed	11–50
7	KolomoniNigeria	KOLOMONI is a product of Cintrust Microfinance Bank, a licenced MFB by CBN, dedicated to providing customers with the utmost banking experience.	Not disclosed	Not disclosed	51–200
8	ApeniaKenya	AI-driven digital finance platform offering salary advances, loans and savings in Kenya and beyond	Not disclosed	Not disclosed
9	VBank.NGNigeria	VBank.NG is a Nigerian FinTech platform that provides mobile banking services for users.	Not disclosed	Not disclosed	201–500
10	BaladEgypt	Balad is a FinTech company that provides prepaid card solutions for underbanked family members of Egyptian migrants abroad.	Non-equity Assistance	Not disclosed	11–50
11	LencoNigeria	Lenco provides full-fledged current accounts for banking services and expense management for business growth.	Seed	Not disclosed	11–50
12	FidoGhana	Fido is an Africa-focused credit first neobank for the unbanked	Grant	$135M	51–200
13	Union54Zambia	Union54 is a member led association of African fintechs pulling together to dismantle borders and make money borderless.	Seed	$15M	2–10
14	Affinity AfricaGhana	Affinity Africa builds financial institutions that leverage fintech to support the financially underserved and excluded.	Seed	$8M	11–50
15	Asante Financial Services GroupKenya	Asante Financial Services Group is a Kenyan startup advancing financial independence of underserved small businesses and individuals in Africa.	Series A	$8M	11–50
16	Fintech FarmNigeria	Fintech Farm is a newly launched fintech startup based in the U.K, with a branch in Nigeria, that creates digital banks in emerging markets.	Seed	$7M	51–200
17	MapleradNigeria	Banking services for the unbanked: Maplerad provides a modern banking platform for Nigerians.	Seed	$6M	2–10
18	NextaEgypt	Nexta is an Egypt-based fintech and next-generation banking platform	Seed	$5M	11–50
19	Aladdin Digital BankNigeria	Aladdin is a Nigerian open digital bank that provides financial services for underserved Africans.	Debt Financing	$4M	51–200
20	SparkleNigeria	Sparkle is a Nigerian FinTech platform that is creating a market place that makes it easy to achieve business outcomes.	Seed	$3M	11–50

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Frequently asked about Neobank in Africa

How many Neobank startups are there in Africa?: StartupList Africa tracks 34 Neobank startups across Africa.
How much funding have Neobank startups in Africa raised?: Neobank startups in Africa have raised $203.4M in disclosed funding.
Which African countries have the most Neobank startups?: Nigeria has the most, with 17, followed by Kenya (6) and Egypt (3).
Who invests in Neobank startups in Africa?: Launch Africa has backed 4 Neobank startups, followed by Y Combinator (4) and Acasia Ventures (3).

Cite this page

StartupList Africa, “Neobank startups in Africa”, updated 27 Oct 2026.

startuplist.africa/industries/neobank