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How African Tech Startups Can Attract VC Funding With PR: Proven Tactics, Best Practices & Common Mistakes

The Current State of African Startup Funding

Let’s be real: raising VC funding for African startups has been about as easy as winning the lottery these days. According to Africa: The Big Deal, African tech startups raised $2.2 billion in 2024, a 25% decline from the $2.9 billion secured in 2023. Translation? We’re still stuck in what feels like the Sahara Desert of funding winters, and the oasis is nowhere in sight.

Since 2022, the venture capital funding slowdown has hit hard, with both African and international investors holding onto their money more tightly than ever. The excitement around investing in African tech startups arguably peaked with the Paystack exit (ah, those were the days!) and has been on what some may say, a steady decline since then. 

Today, Africa’s startup ecosystem is largely supported by impact-driven investors who are focused on creating real change. Meanwhile, many foreign investors have shifted their attention back to home markets they know and understand better.

The era of African tech companies casually strolling into meetings and walking out with bags of cash at sky-high valuations? That party is (at least for now) over.

Competition for startup funding is now fiercer than ever, and attracting venture capital investors requires more than just a killer product, it demands strategic positioning, storytelling that would make Nollywood jealous, and a startup PR strategy sharper than a fresh fade.

That’s where public relations for startups comes in; helping African tech entrepreneurs differentiate themselves, build street cred, and transform investor skepticism into the kind of confidence that opens checkbooks.

Over the years at Wimbart, we’ve gained extensive VC experience (translation: we’ve seen some things), supporting both startups raising funds and investors through PR, and even launched our proprietary investor relations report. Here’s what we’ve learned from the trenches.

What Venture Capital Investors Look for in African Startups

Before we dive into the startup PR playbook, let’s decode what makes African investors and international VCs tick. Spoiler alert: it’s not just your charming personality (though that helps).

Venture capitalists are like that friend who only dates people with “potential”, they want tech startups with a clear, compelling value proposition.

You need to be solving a real problem (not just something that annoys you personally), targeting a market with proven demand, and offering a solution so unique it makes competitors weep.

But wait, there’s more! They also want to see:

1. Strong Founding Team and Leadership

Investors are hunting for passionate, experienced, and resilient startup founders who can navigate challenges like a Lagos taxi driver during rush hour. They’re on the look out for maturity levels, leadership qualities that don’t involve shouting at your laptop, credibility that goes beyond your LinkedIn endorsements, and the ability to pitch your startup without sounding like you’re reading from a teleprompter.

2. Proven Traction and Performance Metrics

Evidence of startup traction, user growth, revenue, partnerships, or product adoption, is like showing receipts in an argument. It proves you’re not just another dreamer with a PowerPoint presentation. In these “funding is scarce” times, African venture capitalists are particularly obsessed with startups that have great unit economics.

It is however important to note that the core metrics and information that investors prioritise when evaluating tech startups tend to vary.

As Odunoluwa Longe, Partner at TLP Advisory stated in the Wimbart Investor Relations report, ‘This varies slightly depending on the growth stage, revenue, and sector, but the commonalities in the early stages are founders’ experience, sector expertise, market size, and customer acquisition strategies. For later stages, financial performance, business growth, and market traction become more critical. The startup’s past funding and the background of previous investors are also evaluated for compliance reasons and future exit strategies.’

3. Competitive Advantage in the African Market

A startup must differentiate itself in the market. Investors are interested in a strong competitive advantage –  whether through technology, intellectual property, or brand positioning.

4. Long-term Vision and Scalability

A compelling startup vision with a strategy for long-term goals can make investors believe in your company’s staying power. Think “realistic and ambitious” rather than “I’ll be the next Elon Musk by Tuesday.”

Proven PR Strategies to Attract VC Funding for African Startups

Now that we’ve cracked the investor code, let’s explore how strategic PR for startups can amplify these qualities and make venture capital investors take notice of you. 

1. Building a Compelling Brand Narrative for Investor Appeal

As Anas Ben Mejdoub, Head of Community at London Africa Network, rightly pointed out in the Wimbart Investor Relations Report, there is an understanding gap between founders and investors. He particularly highlighted the ‘lack of comprehension from international investors. New markets often face this burden of proof, and Africa has historically had a trust deficit with foreign capital’. 

So first things first: there is a need to create a compelling brand narrative that educates and resonates with investors, especially international ones, where the majority of Africa tech funding comes from.

This isn’t just about what you do, it’s about why you exist beyond making money. In order to make investors understand your solution, your startup story should highlight:

• The problem you’re solving (and why it keeps you up at night)
• The African market size that makes investors’ eyes light up
• Those unique differentiators that make you special 
• Startup traction and milestones that serve as your bragging rights

 Remember: startup metrics aren’t just numbers, they’re proof points that build investor confidence.

2. Executive Visibility and Thought Leadership for Startup Founders

Here’s a truth bomb from the recent Moonshot by TechCabal masterclass titled “Don’t Be a F@! Head – A Masterclass for First-Time Founders,” by Kola Aina, Founding Partner at Ventures Platform and Olumide Soyombo, Founder at Voltron Capital : African investors care about startup founders just as much as they care about solutions.

It’s like dating, they’re not just interested in your startup; they want to know if they can stand being in business with you for the next 5-10 years.

Build your founder profile through:

• Opinion pieces that actually have opinions
• Startup founder interviews that reveal your personality
• Bylined articles that showcase your expertise
• Media appearances on relevant local and Pan-African tech platforms

But remember: not all startup media coverage is created equal. One well-placed Reuters or Bloomberg feature can be worth more than fifty mentions in publications nobody’s heard of. Quality over quantity, always.

3. Strategic Event Participation and Investor Networking

African venture capitalists love warm introductions more than Nigerians love their jollof rice. In-person networking hits differently from sliding into someone’s LinkedIn DMs. Network for startup funding like your business depends on it (because it does), attend events where African investors actually show up, are part of the conversation and participate in pitch competitions like your life depends on it.

Pro tip: Apply to investment showcases and African startup events such as AfricArena, Africa Tech Summit Investment Showcase etc that give you direct access to VCs. It’s like speed dating, but for business.

Some key types of events to consider include: 

• African tech conferences
• Startup pitch events
• Investor networking sessions
• VC-focused meetups

And guess what (shocker), – networking doesn’t always have to take place during formal events. Meeting up for a drink, a meal, an Ecosystem Mixer (think the recent Wimbart x HoaQ London BBQ), lightens the mood and makes things less intense, but by no means less effective. 

4. Impact & Data-Driven Storytelling That Resonates with VCs

Sometimes you need to make investors feel something beyond “this could make money.” Use real-life stories, customer success stories, or founder journeys that create emotional connections. Some successful African startup examples include: 

• Healthtracka – a healthtech startup decentralising laboratory testing in Africa by providing at-home tests and digital results, was created based on the loss of the founder’s dad  – which she realised was due to lack of access to early diagnosis of diseases in Nigeria.
• Peppa – the founder of Peppa, lost $7,000 in an online transaction and turned that pain into a Techstars-backed startup

These aren’t just stories; they’re reasons to believe. But here’s the catch: investors want data with their emotions. Combine those compelling narratives with startup metrics so solid they could build bridges. Examples of metrics that resonate with VCs include: 

• Revenue growth rates
• Customer acquisition costs
• Market validation proof
• User retention statistics

5. Social Media Strategy for Startup Visibility

Many African VCs and international investors are lurking on LinkedIn and X like your aunties on Facebook. Optimizing your startup’s social media presence is a must. This may be done through:

• Posting regular updates about your startup milestones (humble bragging is an art form)
• Engaging in African tech ecosystem conversations that matter
• Showcasing your expertise through thought leadership content that makes people stop scrolling
• Sharing startup success metrics and growth updates
• Participating in venture capital discussions and investor relations conversations

Common Mistakes That Make Investors Run

Now for the fun part. Let’s talk about the reasons that make investors dash rather than give you the cash!

1. The “Spray and Pray” Approach (AKA Lack of Research)

Pitching an Agritech startup to an Edtech-only investor is like showing up to a wedding in shorts. Technically possible, but everyone’s going to judge you. Some investors specialize in funding startups at specific stages, such as Series A and beyond. As a pre-seed company, pitching to such an investor wouldn’t be a wise use of your time. The investment thesis of some VCs are a bit more nuanced. As an example, Damilola Teidi-Ayoola, Head Platform and Network at Ventures Platform, stated in the Wimbart Investors Report, ‘At Ventures Platform, our investment thesis focuses on backing market-creating innovations that solve Africa’s critical challenges by addressing non-consumption in sectors like cleantech, fintech, healthcare, agriculture, and logistics. These innovations transform complicated products into simple, affordable solutions accessible to previously untapped segments.’

Do your homework. Research investors like you’re planning to marry them (which, financially speaking, you kind of are).

2. The Multiple Personality Disorder Problem

If your website, LinkedIn, and media coverage tell three different stories about your startup, investors will be very skeptical. Keep your narrative tight and consistent.

3. The “Fake It Till You Make It” Syndrome

Having ambition and a vision is great, but many investors have shared how the use of exaggerated claims like “the next unicorn” or “disrupting the industry” without concrete backing is a major turn off. Investors appreciate realistic growth projections supported by evidence.

4. The Missing Data Room Mystery

Not having a data room is like showing up to a job interview without a CV. Investors need to see your compliance records, legal agreements, financial models, and founder profiles. A messy or missing data room screams “amateur hour” and signals that the founder is not ready or serious about fundraising.

The lack of investment readiness is however more common with early stage start-ups than experienced ones. Once again quoting the WImbart Investor Relations Report, Odunoluwa Longe, Partner, TLP Advisory stated, ‘Early-stage startups, especially first-time founders, may not be investment-ready when going to the market for the first time because they are so focused on product and customer acquisition that compliance and structure take a back seat. However, this becomes an issue when they want to take a first cheque (which is more often than not when they engage us). We then have to adopt a fire brigade approach to closing the gaps, which include formation structures, incomplete corporate or compliance filings, intellectual property ownership gaps, non-compliance with employment and tax regulations, and sometimes even co-founder issues. These gaps surface during legal, due diligence for our investor clients or legal audits when onboarding a startup client. This is less common with experienced or serial founders who understand the importance of getting their structure right – not just for investment readiness but for long-term sustainability and risk mitigation’.

5. The Ostrich Strategy (Ignoring Bad Press)

On the odd-occasion when negative press hits, don’t bury your head in the sand. Address issues head-on with confidence. Silence screams like guilt, and guilt kills investor confidence.

6. The Small Dreams Problem (No BHAG)

We mentioned having an ambition and a vision earlier. Founders often make the mistake of not having a Big Hairy Audacious Goal . For example, as a startup, you might launch a food delivery business focussed on Ikeja, Lagos, but it’s important to communicate the bigger picture beyond that. A narrow focus won’t deliver the kind of venture returns investors are looking for, so you need to articulate how your company can scale if everything goes according to plan.

The best BHAGs create FOMO so strong that investors start calculating returns before you finish your pitch.

The Bottom Line

The African tech ecosystem may be experiencing a funding slowdown, but there are encouraging signs of growth. While investment may be moving at a slower pace, the consensus is that this shift is leading to more strategic, sustainable funding that will ultimately benefit both startups and investors in the long run.

With the right PR strategies in place, as outlined, founders can position themselves for funding success, ensuring they secure a share of the investment pie rather than being left with a piece of humble pie instead.

Now go forth and raise that funding like the champion you are!

By Yemi Kuti