MNT-Halan Leads Africa Startup Funding List for Oct 2026

In Short

African startup funding rebounded in October 2026, reaching $324.42 million across 38 disclosed deals. Egypt-based fintech Halan was the biggest transaction after raising $150 million through an initial public offering, or IPO, which is when a company sells shares to the public.

What Happened: October 2026 African Startup Funding Data

The data shows investors committed $324.42 million in October 2026, up from $240.2 million in September 2026. That is a 35.06% month on month increase.

The month’s funding was concentrated in a few large transactions. The top 10 startups raised $301.5 million, which was 92.94% of all capital disclosed for the month. That top 10 total was up from $202.5 million in September, a 48.89% month on month increase.

Despite the rebound, the month was below the year earlier level. In October 2025, African startups attracted $435.2 million across 58 deals. That makes October 2026 a 25.45% year on year decline.

The report also notes that eight startups did not disclose funding amounts, including three mergers and acquisitions, or M&A transactions. This means actual capital deployed in the month could be higher than reported.

Why It Matters: Bigger Rounds Took Most Of The Capital

MNT-Halan’s $150 million IPO accounted for almost half of October 2026’s total disclosed funding. It also shaped the month’s top 10 concentration.

The report says the top 10 startups’ share rose to 92.94% in October 2026, compared to 89.29% in October 2025 and 84.3% in September 2026. It describes this as investor preference for larger and more established businesses in a challenging venture capital environment.

Among the top 10, the report also lists Kuunda, a digital lending infrastructure company, which completed a $5 million secondary share sale led by E4E Africa. It also lists Okra Solar, which received a $7 million debt facility from British International Investment to support clean electricity access in Nigeria.