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# Egypt dominated the Northern African startup funding landscape in 2022
- URL: https://www.techloy.com/northern-african-startup-funding-in-2022/
- Published: 2023-02-24T17:34:12.000Z
- Updated: 2023-02-24T17:34:12.000Z
- Author: Acquah Nana Yeboah
- Tags: / Money, Egypt

Northern Africa secured $1.1 billion or 23% of the [total startup funding raised](https://www.techloy.com/african-fintech-startup-funding-dropped-by-58-percent-in-q3-2022/) on the continent in 2022, tied with Eastern Africa in terms of the number of deals at 232, and ranking third on the continent, according to a report by *Africa: The Big Deal.*

Egypt dominated the region, accounting for three-quarters of all the funding raised by startups in Northern Africa, totalling $822 million, and two-thirds of the $100k+ deals at 154 out of 232\. The country was one of the only two "Big Four" African countries to record positive year-over-year funding growth at 37%.

![](https://storage.ghost.io/c/c1/a6/c1a6d111-d951-41ad-a392-c1e841210b93/content/images/2023/02/Funding-raised-by-North-African-startups-by-country--3-.png)

Algeria and Tunisia were the only other countries in the region to claim over $100 million in funding, with each driven by their first "mega deal." Algeria raised $151 million due to Yassir's $150 million Series B announced in November, while in Tunisia, Instadeep's $100 million Series B round kicked off the year.

Meanwhile, Morocco was the only market in the region to register a decline compared to 2021, attracting only $18 million in total, without any large deals.

Overall, Northern Africa's 23% share of funding raised on the continent in 2022 was relatively better than its weight in the continent's population at 15%, but not as well as its share of GDP at 30%.

![](https://storage.ghost.io/c/c1/a6/c1a6d111-d951-41ad-a392-c1e841210b93/content/images/2023/02/funding-raised-by-north-african-startups--1-.png)