Top 10 African Startups by Valuation in 2026

Published: October 25, 2026

Africa has produced only a small set of startups valued at $1 billion or more. This ranking lists the ten most valuable private startups founded in Africa, using the latest valuation that can be checked in public. The total for the ten is about $17.4 billion.

Fintech dominates the list. Nine of the ten companies sell payments, banking, or other financial services. Only one company, Andela, sits outside financial services. Seven of the ten were founded in Nigeria.

The list also shows how old most startup valuations are. Four valuations were set or updated in 2026. The rest date from 2019 to 2024. A valuation from a funding round is not a market price. It is the price investors agreed at one point in time. It can stay unchanged for years, even as a business grows or shrinks.

5 Key Facts

• Flutterwave ranks first at $3.2 billion, after its June 2026 Series E round.
• OPay ranks second at $3.1 billion, based on an implied value from Opera's stake filing, not a new funding round.
• The top three companies are worth $8.4 billion combined, or about 48 percent of the top ten total.
• Nine of the ten companies work in fintech or digital banking. Andela, a talent network, is the only exception.
• Seven of the ten companies were founded in Nigeria. Senegal, South Africa, and Egypt supply one each.

The Ranking

Stat in context: the top ten total, about $17.4 billion, is smaller than the market value of several single listed African companies. See the biggest listed companies in Africa for that comparison. Startup valuations also move in steps. They change only when a new round, a sale, or a listing sets a new price.

1. Flutterwave: $3.2 billion

Flutterwave was founded in Lagos in 2016. It builds payment tools for businesses across Africa. It says it operates in more than 30 African markets.

In June 2026, Ripple joined its Series E round. The round valued Flutterwave at $3.2 billion. The deal added Ripple's RLUSD stablecoin and XRP Ledger tools to Flutterwave's payment rails. Later company materials put the figure at $3.3 billion. This ranking uses $3.2 billion, the figure reported at the June announcement. Either figure leaves Flutterwave first.

2. OPay: $3.1 billion

OPay was incubated inside Opera in 2018. It is now a Nigerian payments and mobile money company. It reports more than 50 million users in Nigeria.

OPay last raised a priced round in 2021. That Series C, led by SoftBank Vision Fund 2, valued it at $2 billion. The $3.1 billion figure comes from Opera's filing. Opera valued its 9.5 percent stake at $294.6 million at the end of 2025. That stake value implies a total value of about $3.1 billion.

OPay's reported $4 billion target for a possible United States listing is not used here. A target for a future listing is not a completed valuation. A later filing implied about $3.17 billion in the second quarter of 2026. That would still leave OPay second.

3. Moove: $2.1 billion

Moove was founded in Lagos in 2020. It started by financing cars for ride-hailing drivers. Drivers paid for cars from daily earnings.

On August 5, 2026, Moove raised $250 million in a Series C round. The round valued it at $2.1 billion. Mubadala Investment Company led the round. Woven Capital and Ion Pacific co-led it. Moove says it now runs about 42,000 vehicles across 29 cities in 13 countries. It also operates fleets for self-driving car companies, including Waymo.

Moove's later headquarters move does not change its origin. It was founded in Lagos. It counts here for the same reason Andela and Tyme Group count. Founding place, not current headquarters, sets inclusion.

4. Wave: $1.7 billion

Wave was founded in Senegal in 2018. It runs a mobile money service in West Africa. It charges a flat 1 percent fee for peer-to-peer transfers.

In September 2021, Wave raised $200 million in a Series A round. The round valued it at $1.7 billion. Sequoia Heritage, Founders Fund, Stripe, and Ribbit Capital led it. It was the largest Series A round for an African fintech at the time. It also made Wave the first unicorn from French-speaking Africa.

No newer priced valuation has been reported since 2021. Wave has since raised debt funding, including $137 million in July 2025. Debt funding does not set a company valuation in the same way an equity round does. This ranking keeps the $1.7 billion equity figure and labels its date.

5. Andela: $1.5 billion

Andela was launched in Africa in 2014. It connects companies with remote software engineers. It began by training engineers in Lagos, Nairobi, and Kampala.

In September 2021, Andela raised $200 million in a Series E round. The round valued it at $1.5 billion. SoftBank Vision Fund 2 led the round. Andela is the only non-fintech company in this top ten. Its value rests on talent placement, not payments.

Andela and Tyme Group tie at $1.5 billion. Andela ranks ahead on the alphabetical tie-break used in this ranking. The tie is stated here so readers do not mistake order for a value gap.

6. Tyme Group: $1.5 billion

Tyme Group runs digital banks in South Africa and the Philippines. Its South African brand is TymeBank. Its Philippine brand is GoTyme.

In December 2024, Tyme Group raised $250 million in a Series D round. The round valued it at $1.5 billion. Nubank led the round with $150 million. M&G Catalyst added $50 million. Existing shareholders added the rest. Tyme Group says it has more than 15 million customers across its two markets.

Tyme Group is headquartered in Singapore today. It was built around its South African bank. It counts here as a South African-founded company. Its valuation is the most recent $1.5 billion figure in the list.

7. MNT-Halan: $1.4 billion

MNT-Halan was founded in Egypt in 2018. It began as a ride-hailing app. It now offers microfinance, consumer loans, small business finance, and payments.

In June 2026, a round led by Al Ahly Capital valued its global parent at $1.4 billion. MNT-Halan became Egypt's first fintech unicorn in 2023. At that time, a $400 million equity and debt deal valued it at $1 billion.

Readers should not confuse the $1.4 billion figure with its October 2026 listing. The October listing covered only the Egyptian business. That listing valued the Egyptian business at about $750 million. The $1.4 billion figure covers the global parent, including operations outside Egypt. This ranking uses the global figure and states the difference.

8. Moniepoint: $1.0 billion

Moniepoint was founded in Nigeria in 2015 as TeamApt. It serves small businesses with payments, banking, and lending tools. Its point-of-sale network made it a familiar name with Nigerian merchants.

In October 2024, Moniepoint raised $110 million in a Series C round. The round valued it at more than $1 billion. Development Partners International led it. In October 2025, Moniepoint added $90 million to the same round. The total Series C reached $200 million. The later close still put the post-money value at $1 billion.

Moniepoint ranks ahead of Interswitch because its figure is stated as more than $1 billion. Interswitch's figure is stated as $1 billion. The gap, if any, is small. Both companies sit at the unicorn line.

9. Interswitch: $1.0 billion

Interswitch was founded in Lagos in 2002. It is the oldest company in this ranking. It built much of Nigeria's card and switching infrastructure. Its brands include Verve and Quickteller.

In November 2019, Visa invested $200 million for a 20 percent stake. That deal valued Interswitch at $1 billion. It made Interswitch one of Africa's first fintech unicorns. In May 2022, LeapFrog Investments and Tana Africa Capital added $110 million. No new valuation was stated for that investment.

Interswitch shows how long a valuation can stand. Its $1 billion figure is now seven years old. It remains the latest public valuation that can be checked. Age alone does not remove a company from a ranking based on latest known values. The date must be shown, and it is shown here.

10. PalmPay: $0.85 billion

PalmPay launched in Nigeria in 2019. It is backed by Transsion and NetEase. It offers peer-to-peer transfers, bill payments, and merchant services. It reports more than 35 million registered users.

PalmPay has no publicly stated priced valuation from a recent equity round. Its $0.85 billion figure is a reported estimate from January 2026. It is the weakest figure in this top ten. It is included because it is the best public estimate available, and it is labelled as an estimate.

In August 2026, PalmPay discussed a round that could value it at more than $1 billion. That round had not closed at the time of writing. A discussed round is not counted here, for the same reason OPay's $4 billion listing target is not counted. If the PalmPay round closes above $1 billion, PalmPay will move up in the next edition.

Frequently Asked Questions

What counts as an African startup in this ranking?

A company counts if it was founded in Africa and is still private. Current headquarters do not decide inclusion. That is why Andela, Tyme Group, and Moove count, even though their headquarters moved. Companies founded outside Africa do not count, even if they operate in Africa.

Why is Chipper Cash not in the top ten?

Chipper Cash was once valued above $2 billion. In late 2021, its valuation passed $2 billion. By 2023, Forbes reported sale talks that valued it at $250 million to $500 million. Its internal valuation was also cut by about 70 percent. No new priced round has restored its unicorn value in public. A stale peak value would mislead readers. Chipper Cash is therefore left out, with the reason stated here.

Why is OPay not ranked at $4 billion?

The $4 billion figure is a target for a possible United States listing, reported by Bloomberg in May 2026. It is not a price from a completed deal. This ranking uses only completed valuations or filing-implied values. OPay's filing-implied value is $3.1 billion. That figure still puts OPay second.

Why are some valuations so old?

Private companies do not get a new price every day. A valuation changes only when investors buy shares at a new price, or when a sale or listing sets one. Many African startups have not raised equity since 2021. Their last price therefore stays on the books. This ranking shows the date for every figure, so readers can judge freshness.

Which company is closest to a public listing?

OPay, PalmPay, and MNT-Halan have all moved toward listings in 2026. MNT-Halan already listed part of its Egyptian business in October 2026. OPay has hired banks for a possible United States listing. PalmPay has discussed a Hong Kong listing. A listing would replace a private valuation with a market price. It would also remove the company from a future private-startup ranking.

Data Sources

• Flutterwave, Series E at $3.2 billion, June 2026: Ecofin Agency; see also African Exponent's June 2026 Flutterwave report.
• OPay, $3.1 billion implied by Opera's stake filing: WeeTracker; OPay $4 billion listing target: WeeTracker.
• Moove, $2.1 billion Series C, August 5, 2026: Mubadala; Forbes Africa.
• Wave, $1.7 billion Series A, September 2021: TechCrunch.
• Andela, $1.5 billion Series E, September 2021: Andela.
• Tyme Group, $1.5 billion Series D, December 2024: Retail Banker International.
• MNT-Halan, $1.4 billion global valuation, June 2026, and October 2026 Egyptian listing: TechArena; Reuters.
• Moniepoint, more than $1 billion Series C, October 2024, extended to $200 million in October 2025: TechMoonshot.
• Interswitch, $1 billion Visa investment, November 2019: TechCabal.
• PalmPay, $0.85 billion reported estimate, January 2026, and August 2026 prospective round: Brand Communicator; TechCabal.
• Chipper Cash markdown, Forbes-reported $250 million to $500 million sale talks: WeeTracker.
• Related African Exponent reading: most profitable companies in Africa; companies to work for in Africa.

Methodology

Data vintage: valuations as reported up to October 25, 2026. Each figure uses the latest public valuation that could be checked. Where a figure comes from a filing or an estimate, the table and the company section say so.

Scope: private, standalone startups founded in Africa. Public companies are excluded. Divisions of listed groups are excluded. That rule excludes Airtel Money, which priced a London listing in October 2026 at $7 billion, because it is a division of listed Airtel Africa, not a standalone startup. It also excludes companies founded outside Africa, even if they operate in Africa.

Valuation types: a priced equity round is used first. A filing-implied value is used for OPay, because Opera discloses its stake value. A reported estimate is used only for PalmPay, and it is labelled as an estimate. Listing targets, discussed rounds, debt deals, and revenue figures are never counted as valuations. M-KOPA's $600 million figure, for example, is annual revenue, not a valuation, so M-KOPA is not ranked on it.

Ties: companies with the same valuation are ordered alphabetically. Andela therefore ranks ahead of Tyme Group at $1.5 billion. Moniepoint ranks ahead of Interswitch because its value is stated as more than $1 billion, against Interswitch's $1 billion.

Exclusions and limits: Chipper Cash is excluded for the reason given in the FAQ. Its peak $2.2 billion value is no longer supported by a public priced round. Valuations in this article are not market prices. They are the last prices investors agreed, or the last values implied by filings. A future round, sale, or listing could change any figure.