Wave is a mobile money startup operating in Africa, known for its low-cost financial services and significant user base.
Inside the Minds of Africa’s Most Successful Startup CEOs
In 2024, African startups raised $2.8 billion, with Nigeria, Kenya, South Africa, and Egypt leading the way. Olugbenga Agboola's Flutterwave reached unicorn status in March 2021 after raising over $170 million.
African startups raised $1.2 billion in H1 2025 as funding rebounds
African startups raised $1.213 billion across 88 publicly disclosed deals in H1 2025, an 86% increase from H1 2024. Fintech regained dominance, raising $500.2 million, while cleantech raised $218.5 million in the same period.
Senegal Leads Africa’s $345.9M June Funding Surge as Nigeria Falls to Just 4% Share
Startups across Africa raised a total of $345.9 million in funding in June 2025, marking the highest monthly total for the year. Senegal accounted for 43% of the funding volume in June, largely due to Wave's $137.2 million fundraising announcement.
Wave raises $137 million to expand mobile money services across Africa
Wave raised $137 million in a debt round led by Rand Merchant Bank to boost working capital. The funding will help expand Wave's mobile money operations across new and existing markets.
Wave raises $137 million in debt to expand mobile money services across Africa
Wave raised a $137 million debt round to enhance working capital and expand operations. The funding will help scale mobile money operations and broaden financial access.
