Moove’s $250 million round accounted for nearly 40% of the $635 million that put Nigeria first in Africa: The Big Deal’s country funding ranking through September 2026.
The tracker assigned Nigeria more than twice the $247 million it recorded for the first nine months of 2025. Egypt ranked second at $445 million, followed by Kenya at $201 million and South Africa at $182 million.
Moove announced its Series C financing in August and said it would support expansion of its autonomous vehicle business into new markets worldwide. Removing that round from the tracker’s Nigeria total leaves $385 million, or $60 million less than Egypt’s figure.
Other large entries also shaped the ranking. Africa: The Big Deal assigned $100 million to Flutterwave, $50 million to Jumia Technologies AG and $40 million to Yellow Card. With Moove, those four entries total $440 million, about 69% of the amount assigned to Nigeria.
The $100 million for Flutterwave is the tracker’s figure: Flutterwave confirmed a Series E investment from Ripple without disclosing its size. Jumia filed agreements for a share sale expected to generate approximately $50 million in gross proceeds, while Yellow Card said it had closed its $40 million round.
The increase extended to the number of ventures meeting the tracker’s funding threshold. It counted 77 in its Nigeria category raising at least $100,000, up from 70 a year earlier. Across Africa, that count fell to 311 from 381; the number raising $100,000 to $1 million declined to 171 from 220.
The country result adds detail to the continent-wide funding picture. Africa: The Big Deal recorded $2.16 billion raised across Africa through September, down 4% from $2.24 billion a year earlier, even as equity funding rose 23% to $1.5 billion.
The tracker counts announced equity, debt and grants and excludes exits. Its venture counts use a $100,000 funding threshold. It also separates ventures it classifies as pan-African from its country rankings. Its Nigeria total reflects those classifications, rather than where recipients will spend the money. Propel Africa excludes Jumia’s listed-company share sale from its own startup funding count.
Fourth-quarter fundraising is the next measure: Africa: The Big Deal said African startups would need to raise roughly another $1 billion to exceed its $3.2 billion total for 2025.
