About NBFC Lenders sector in Africa
The NBFC Lenders sector in Africa comprises 1.7K companies, including 293 funded companies having collectively raised $5.52B in venture capital money and private equity. Out of these, 85 are Series A+ funded, and 2 have achieved unicorn status.
NBFC Lenders sector in Africa has seen 25 acquisitions and 15 IPOs.
This sector includes non-Banking Finance Companies that are licensed by the government and are engaged primarily in lending to retail consumers and Small and Medium Enterprises (SMEs).
NBFC Lenders sector is also known as NBFC Lenders Solutions, Advanced NBFC Lenders or Digital NBFC Lenders.
All companies that are licensed as NBFIs, subsidiaries of banking and non-financial entities, and all internet-first lenders including marketplaces and lead generation platforms. Other financial institutions that have a different focus compared to NBFI loan companies including banks, unorganized money lenders, private debt funds, large corporate lenders, and asset finance companies among others are excluded.
Top NBFC Lenders Companies in Africa
There are 1,704 NBFC Lenders startups in Africa which include M Kopa, FairMoney, Moove, MNT Halan, Contact. Out of these, 293 startups are funded, with 85 having secured Series A+ funding, and 2 achieving unicorn status.
2026 has seen the creation of 12 NBFC Lenders startups in Africa. Over the past 10 years, an average of 88 new companies have been launched annually. Notably, several of these startups have been founded by alumni of University of Oxford, London School of Economics and Political Science and Stanford University.
Here is the list of top NBFC Lenders startups in Africa
1. M Kopa
Key facts about M Kopa
- Founded Year: 2011
- Location: Nairobi (Kenya)
- Stage: Series D
- Total Funding till date: $241M
- Investors: British International Investment, Generation Investment Management and 36 Others
- Latest Funding Round: Conventional Debt, Jun 06, 2024, $*****
- Tracxn Score: 70/100 What is this?
- Competitors Rank: 1 of 1,117 Competitors
2. FairMoney
Provider of a digital microfinance bank for individuals. It provides users with a platform that offers financial products including savings accounts, prepaid cards, money transfers, bill payments, consumer and business loans, and more. It also features POS devices, fixed deposits, savings calculators, loan calculators, and expense management tools. Its app is available for Android and iOS users. It make it easy for users to apply for a loan and receive your loan into your bank account in minutes.
Key facts about FairMoney
- Founded Year: 2017
- Location: Ikeja (Nigeria)
- Stage: Series B
- Total Funding till date: $57M
- Investors: Tiger Global Management, DST Global and 9 Others
- Latest Funding Round: Series B, Oct 18, 2021, $*****
- Tracxn Score: 69/100 What is this?
- Competitors Rank: 2 of 85 Competitors
3. Moove
Provider of revenue-based vehicle financing to mobility entrepreneurs. It enables drivers to buy vehicles based on their alternative credit scores. It uses proprietary performance and revenue analytics to underwrite loans to customers. It is applicable for ride-hailing, logistics, mass transit, and instant delivery services.
Key facts about Moove
- Founded Year: 2020
- Location: Lagos (Nigeria)
- Stage: Series B
- Total Funding till date: $260M
- Investors: Speedinvest, Left Lane and 39 Others
- Latest Funding Round: Series B, Mar 19, 2024, $*****
- Tracxn Score: 66/100 What is this?
- Competitors Rank: 5 of 39 Competitors
4. MNT Halan
Provider of lending, payment, and e-commerce solutions for underserved markets. The company offers business and consumer lending, including microfinance, SME lending, and nano loans. It provides buy now pay later options, payroll lending, and light-vehicle finance. Digital payment solutions include loan disbursement and collection, peer-to-peer transfers, and virtual card numbers. The company also facilitates bill payments, cash in/out services, and payroll disbursement. It operates an e-commerce platform for home appliances and FMCG products.
Key facts about MNT Halan
- Founded Year: 2017
- Location: Giza (Egypt)
- Stage: Series E
- Total Funding till date: $668M
- Investors: Apis Partners, Chimera and 17 Others
- Latest Funding Round: Series E, Jun 10, 2026, $*****
- Tracxn Score: 66/100 What is this?
- Competitors Rank: 1 of 9 Competitors
5. Contact
Key facts about Contact
- Founded Year: 2001
- Location: Cairo (Egypt)
- Stage: Series D
- Total Funding till date: $56M
- Investors: EAEF, Orascom Investment Holding and 2 Others
- Latest Funding Round: Series D, Feb 11, 2021, $*****
- Tracxn Score: 64/100 What is this?
- Competitors Rank: 1 of 20 Competitors
Companies founded year-on-year in the NBFC Lenders sector in Africa
12 new startups have been founded so far in 2026 in the NBFC Lenders sector in Africa. 172 NBFC Lenders startups in Africa were founded in 2019 - this is the most number of startups founded in any year in the last 10 years.
- Total Number of Companies
Year | No. of companies |
|---|---|
2026 | 12 |
2025 | 6 |
2024 | 29 |
2023 | 47 |
2022 | 92 |
2021 | 112 |
2020 | 152 |
2019 | 172 |
2018 | 157 |
2017 | 101 |
Stage-wise distribution of NBFC Lenders sector companies in Africa
Out of the total 1,704 NBFC Lenders companies in Africa, 293 have secured funding. Among them, 85 have reached Series A or higher, and 59 to Series B or beyond.
Founded - 1,704
Funded - 293
Series A+ - 85
Series B+ - 59
Series C+ - 51
Company Stage | No. of companies |
|---|---|
Founded | 1,704 |
Funded | 293 |
Series A+ | 85 |
Series B+ | 59 |
Series C+ | 51 |
Let us walk you through our Sectors and other offerings
Designed with precision for VCs, PE, IBs, Incubators, M&A, Innovation more
Designed with precision for VCs, PE, IBs, Incubators, M&A, Innovation more
Funding Trends in the NBFC Lenders sector in Africa
Total funding year-on-year in the NBFC Lenders sector in Africa
The NBFC Lenders sector in Africa saw a total funding of more than $5.26B in the last 10 years. The most amount of funding was in 2022 at more than $1.4B. There has been a total funding of $223M in 2026 till date.
- Total Funding
Year | Total Funding |
|---|---|
2026 | $223M |
2025 | $183M |
2024 | $521M |
2023 | $1.25B |
2022 | $1.4B |
2021 | $474M |
2020 | $511M |
2019 | $262M |
2018 | $211M |
2017 | $220M |
Recent Funding Rounds in NBFC Lenders in Africa
In the year 2026, till July 2026, NBFC Lenders companies in Africa have raised $60.6M in equity funding across 8 rounds.
In the same period last year (i.e. till July 2025), NBFC Lenders companies in Africa had raised $39.8M across 9 rounds.
So, 2026 has seen a 52.25% rise in funding in NBFC Lenders companies in Africa as compared to 2025.
Here are some recent, important funding rounds in NBFC Lenders companies in Africa:
Company | Round Raised | Amount Raised | Funding Date | Investors |
|---|---|---|---|---|
Seed | 2987 | Jul 22, 2026 | ||
Series E | 1440 | Jun 10, 2026 | ||
Series A | 2660 | Jun 08, 2026 | ||
Series C | 6004 | Mar 27, 2026 | ||
Series A | 1558 | Mar 11, 2026 |
_1580463871049.png?devicePixelRatio=2&height=20&width=20){kind=logo}
_1580986280094.png?devicePixelRatio=2&height=20&width=20){kind=logo}
Top Investors in NBFC Lenders in Africa
FMO is the top investor in NBFC Lenders companies in Africa based on number of companies invested.
Here are some top investors in NBFC Lenders companies in Africa:
Investor | Location | Top Portfolio Companies |
|---|---|---|
The Hague (Netherlands) | ||
London (United Kingdom) | ||
Washington, DC (United States) | ||
Zurich (Switzerland) | ||
Antwerp (Belgium) |
M&A activity in NBFC Lenders sector in Africa
In the year 2026, till February 2026, 1 acquisition happened in NBFC Lenders sector in Africa. Last year, in 2025, a total of 4 acquisitions happened in NBFC Lenders sector in Africa.
Here are some recent, important acquisitions in NBFC Lenders sector in Africa:
Company | Acquisition Type | Acquisition Date | Acquirers |
|---|---|---|---|
Business Acquisition | Feb 18, 2026 | ||
Business Acquisition | Aug 13, 2025 | ||
Business Acquisition | Jul 11, 2025 | ||
Business Acquisition | Jun 25, 2025 | ||
Business Acquisition | Jan 14, 2025 |
Acquisition trends in NBFC Lenders sector in Africa
Here are the acquisition trends in NBFC Lenders sector in Africa:
- Total Number of Acquisitions
Year | No. of companies |
|---|---|
2026 | 1 |
2025 | 4 |
2024 | 1 |
2023 | 4 |
2022 | 8 |
2021 | 2 |
2020 | - |
2019 | 1 |
2018 | 1 |
2017 | 1 |
IPOs in NBFC Lenders in Africa
In the year 2008, till April 2008, 1 IPO happened in NBFC Lenders sector in Africa.
Here are some recent, important IPOs in NBFC Lenders sector in Africa:
Company | IPO Date | Exchange Symbol |
|---|---|---|
Apr 25, 2008 | Nigerian Stock Exchange (LAG) | |
Feb 18, 2004 | Johannesburg Stock Exchange (JSE) |
Colleges which produce the most NBFC Lenders companies in Africa
Companies founded by alumni from top colleges in the NBFC Lenders in Africa
Most number of NBFC Lenders startups in Africa have been founded by alumni from University of Oxford, London School of Economics and Political Science and Stanford University.
College | No. of companies |
|---|---|
University of Oxford | 7 |
London School of Economics and Political Science | 6 |
Stanford University | 3 |
Harvard University | 2 |
INSEAD | 2 |
Massachusetts Institute of Technology | 2 |
Stanford Business School | 2 |
University of Cambridge | 2 |
Carnegie Mellon University | 1 |
Duke University | 1 |
Total funding in NBFC Lenders companies founded by alumni from top colleges in Africa
In the last 10 years, London School of Economics and Political Science graduates' NBFC Lenders companies in Africa have raised the most funding among top colleges. University of Oxford alumni are second, and London Business School (LBS) alumni are third.
College | Total Funding |
|---|---|
London School of Economics and Political Science | $1.33B |
University of Oxford | $1.13B |
London Business School (LBS) | $614M |
Massachusetts Institute of Technology | $468M |
Stanford University | $71.7M |
IIT Bombay | $54.5M |
Carnegie Mellon University | $30M |
INSEAD | $20.5M |
Stanford Business School | $16M |
University of Toronto | $15.1M |
Top News in NBFC Lenders in Africa
•
TFG partners with PayJustNow for in-store payment flexibilityBizcommunity.com•Mar 25, 2026•PayJustNow, TFG Online
•
•
MNT-Halan and Azimut Launch Halan AZ Fund to Expand Investment Opportunities for Individualshapijournal.com•Nov 13, 2025•Azimut investments, MNT Halan
•
C & I Leasing shareholders approve 10 kobo dividend, investment plansNairametrics•Sep 08, 2025•C&I Leasing, Leasafric, Leasafric Logistics
•
•
Orange Money Group and JUMO partner to expand credit services in AfricaWebwire•Jul 28, 2025•Orange, Jumo
•
•
•
Moniepoint rolls out MonieWorld to serve the needs of the UK's African diaspora
The Paypers•Apr 18, 2025•Moniepoint
•
Moniepoint Launches MonieWorld to Target $20.9B Remittance MarketInvestors King•Apr 16, 2025•Moniepoint
