Logistics and transport have overtaken fintech to become Africa’s largest startup funding category by value. The shift ends fintech’s dominance of the continent’s venture market for most of the past seven years.
According to Africa: The Big Deal, logistics and transport startups raised $780 million between January and September 2026, representing 36 percent of total funding across Africa. Fintech followed with $760 million, or 35%.
The logistics sector’s share marked a record for the first nine months of a year. It rose sharply from 7% in the same period of 2025, while its previous January-to-September high was 17% in 2019.
Electric motorcycle company Spiro raised $345 million, while Nigerian mobility firm Moove secured $250 million in a Series C round that valued it at $2.1 billion. Together, the two companies accounted for $595 million, or roughly 76% of the sector’s total funding.
Moove’s round was the largest disclosed African startup deal in the third quarter, contributing 37% of the $674 million raised across 83 disclosed deals during the period.
Despite losing the top position by funding value, fintech remained the most active sector by deal count. Eighty fintech startups raised at least $100,000 between January and September, more than any other category.
Analysts say the figures highlight both the growing investor interest in mobility, electrification and supply-chain infrastructure, and the continued concentration of African venture funding in a small number of large transactions.
