While the overall volume of individual deals contracted compared to previous years, institutional investors are heavily concentrating capital into mature business models with clear paths to profitability. Leading the funding landscape is electric mobility firm Spiro, which secured an unprecedented $327 million across four distinct equity rounds to scale clean transit infrastructure across the continent. Payment infrastructure provider Paymentology followed closely with a $175 million injection, emphasizing the sustained demand for enterprise-grade digital finance architecture. ​A defining market correction in H1 2026 is the rapid acceleration of mergers and acquisitions. The ecosystem recorded 63 M&A deals, nearly double the volume of the same period last year. Notable consolidations include Flutterwave's all-stock acquisition of banking platform Mono and Paystack’s integration of Brass, signaling a maturing market where leaders are acquiring strategic assets to scale regulatory licen...