Andela, a start-up that trains and places Africa software developers with international technology companies, has captured nearly 60% of total funding over the last four and a half years.
African start-ups specializing in education (edtech) and connecting jobseekers with recruiters (jobtech) have raised more than $500 million since 2019, according to data published this Tuesday, June 27, by the platform Africa the Big Deal.
These fundraisings represent less than 4% of the total financing raised by all the continent’s start-ups over the last four and a half years (around $13 billion), the same source added.
Almost 60% of the funds injected into the continent’s edtech and jobtech sectors went to a single start-up, in this case Andela. This platform, which trains and places African software developers with international technology companies, completed two megatours worth a total of $300 million.
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Overall, 73 transactions over one million dollars have been recorded in the sector since 2019. These transactions involved a total of 59 start-ups.
Geographically, two-thirds of transactions were concentrated in Nigeria, Egypt and South Africa. Together, these three countries attracted 84% of all financing raised by edtechs and jobtechs active in Africa.
With the exception of Andela, around 50% of funding went to e-learning platforms, while almost 25% went to start-ups specializing in recruitment, job matching and outsourcing. The remainder went to online or hybrid schools, as well as start-ups operating in the fields of school management and human resources management.