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The Nigerian tech startup country is increasing fast, with galore companies getting precocious marketplace values and tons of funding. Harry Tomi Davies, a Nigerian-British capitalist and Collaborator-in-Chief (CiC) astatine TVC Labs, shares insights connected Nigeria's tech scenery successful 2025, offers clarity connected existent marketplace trends, and discusses the interaction of the apical tech startups successful the Nigerian economy. Discover the top tech startups successful Nigeria ranked by their marketplace worth and funding.
Source: UGC
TABLE OF CONTENTS
Key takeaways
- Many Nigerian tech startups person achieved precocious marketplace valuations, reaching billions of dollars.
- Top tech startups successful Nigeria person raised a sizeable magnitude of backing from investors worldwide.
- These startups run successful assorted sectors, including fintech, e-commerce, mobility, and logistics.
Top tech startups successful Nigeria
Nigeria's tech manufacture is increasing rapidly, with galore startups emerging arsenic large players successful the market. These companies person secured important backing from investors. They are besides creating jobs, improving technology, and helping the economy. Here are the tech startups successful Nigeria ranked by their marketplace worth and funding.
| Tech startup | Industry | Market valuation | Total funding |
| Flutterwave | Fintech | $3.2 billion | $475 cardinal |
| Opay | Fintech | $2.7 billion | $570 million |
| Andela | Software Development & Talent Outsourcing | $1.5 billion | $381 million |
| Interswitch | Fintech | $1 billion | $320.5 million |
| Moniepoint | Fintech | $1 billion | $166 million |
| Moove | Fintech | $750 million | $260 million |
| Kuda | Fintech | $500 million | $91.6 million |
| Jumia | E-commerce | $492 million | $1.2 billion |
| Paga | Fintech | $300 million | $35 million |
| Konga | E-commerce | $200 million | $75.9 million |
1. Flutterwave
Source: Getty Images
- Founded: 2016
- Headquarters: Lagos, Nigeria
- Industry: Fintech
- Valuation: $3.2 billion
- Total funding: $475 cardinal
Flutterwave is simply a fintech institution founded successful 2016 by Iyinoluwa Aboyeji, Olugbenga Agboola, and Adeleke Adekoya. Headquartered successful Lagos, Nigeria, it operates successful the U.S., Canada, Nigeria, Kenya, Uganda, and 29 different African countries.
Flutterwave provides outgo infrastructure for planetary merchants and outgo work providers crossed Africa. In 2022, it secured $250 million successful a Series D backing round, bringing its valuation to implicit $3 cardinal and establishing it arsenic 1 of the continent's astir invaluable startups.
Opay
Source: UGC
- Founded: 2018
- Headquarters: Ikeja, Lagos State, Nigeria
- Industry: Fintech
- Valuation: $2.7 billion
- Total funding: $570 million
OPay is simply a mobile-based level successful Nigeria that offers money transfers, payments, loans, savings, and different services. It was primitively established arsenic Opay Digital Services Limited by Zhou Yahui and Djxbazz successful 2013 and has its office successful Ikeja, Lagos State.
OPay has raised $570 cardinal implicit 3 rounds from 19 investors, including Redpoint Ventures and IDG Capital. In August 2021, the Nigerian fintech institution obtained $400 cardinal during a Series C backing round. Opay's existent valuation is $2.7 billion.
3. Andela
Source: UGC
- Founded: 2014
- Headquarters: Remote
- Industry: Software Development & Talent Outsourcing
- Valuation: $1.5 billion
- Total funding: $381 million
Andela is simply a backstage marketplace that connects technologists from astir the satellite with companies seeking to prosecute them. Andela's bundle engineers acquisition a coding footwear campy earlier moving remotely from the company's tech campuses crossed Africa.
Andela has raised a full funding of $381 cardinal implicit 8 rounds. Its latest backing circular was a Series E circular connected 29 September 2021 for $200 million, pushing its valuation to $1.5 billion.
Interswitch
Source: UGC
- Founded: 2002
- Headquarters: Lagos, Nigeria
- Industry: Fintech
- Valuation: Over $1 billion
- Total funding: $320.5 million
Interswitch is 1 of Nigeria's astir salient fintech companies and a pioneer successful the country's integer outgo ecosystem. Established successful 2002 by Mitchell Elegbe, the institution has grown to go a person successful providing broad integer outgo and transaction processing solutions to individuals, governments, banks, and institutions.
In caller years, Interswitch has been valued astatine $1 billion. In May 2022, the institution raised $110 cardinal successful a backing circular led by LeapFrog Investments and Tana Africa Capital.
Moniepoint
Source: UGC
- Founded: 2015
- Headquarters: Lagos, Nigeria
- Industry: Fintech
- Valuation: $1 billion
- Total funding: $166 million
Moniepoint, formerly TeamApt, was founded by Tosin Eniolorunda and Felix Ike successful 2015. The Moniepoint company provides an all-in-one payment, banking, and operations level for businesses and their customers.
The fintech institution Moniepoint has raised over $166 million successful funding. In October 2024, Moniepoint's marketplace worth accrued to implicit $1 cardinal aft raising $110 cardinal successful a Series C backing round. It became the eighth unicorn retired of Africa.
Moove
Source: UGC
- Founded: 2020
- Headquarters: Victoria Island, Nigeria
- Industry: Fintech
- Valuation: $750 million
- Total funding: $260 million
Moove is simply a planetary mobility fintech established successful 2020 by Ladi Delano and Jide Odunsi. It provides revenue-based conveyance financing and fiscal services to mobility entrepreneurs crossed ride-hailing, logistics, wide transit, and instant transportation platforms.
As of 2025, Moove has raised a full backing of $260M implicit 14 rounds. On 19 March 2024, successful its latest Series B backing round, Moove raised $100 million, bringing its full valuation to $750 million.
8. Kuda
Source: UGC
- Founded: 2019
- Headquarters: London, United Kingdom
- Industry: Fintech
- Valuation: $500 million
- Total funding: $91.6 million
Kuda, besides known arsenic Kuda Technologies Limited, is simply a Microfinance Bank and fintech institution duly licensed by the Central Bank of Nigeria. It makes financial services much accessible, affordable, and rewarding for each African worldwide. Founded by Babs Ogundeyi and Musty Mustapha successful 2019, the fintech institution is valued astatine $500 million.
Kuda has raised implicit $90 million from investors, including Target Global and Valar Ventures. It raised $55 cardinal successful its latest backing round, which was a Series B circular held successful August 2021. The institution was listed arsenic 1 of the 7 WEF African exertion startups of 2021.
Jumia
Source: Getty Images
- Founded: 2012
- Headquarters: Ikeja, Lagos, Nigeria
- Industry: E-commerce
- Valuation: $492 million
- Total funding: $1.2 billion
Jumia Nigeria is simply a fashionable online marketplace that provides logistics and outgo services. It offers assorted products, including electronics, fashion, location appliances, and groceries. Customers from African countries, including Nigeria, Morocco, and Ivory Coast, tin spot orders connected Jumia.
Jumia presently has a market valuation of $492 cardinal and a full of 122 cardinal shares. The institution has raised implicit $593 cardinal successful backing since its archetypal circular successful 2012. Jumia raised $56 million successful its latest backing round, a Series D circular held connected 29 March 2019.
Paga
Source: UGC
- Founded: 2009
- Headquarters: Lagos, Nigeria.
- Industry: Fintech
- Valuation: $300 million
- Total funding: $35 million
Paga, a starring Nigerian fintech startup founded successful 2009, has achieved a valuation of implicit $300 million, making it 1 of Nigeria's astir invaluable startups. The institution provides assorted fiscal services, including mobile wealth transfers, measure payments, and airtime purchases.
Paga has raised a full backing of $35 million implicit 5 rounds. Its astir caller round, a Series B successful 2018, secured $10 million.
10. Konga
Source: UGC
- Founded: 2012
- Headquarters: Gbagada, Lagos, Nigeria
- Industry: E-commerce
- Valuation: $200 million
- Total funding: $75.9 million
Konga is 1 of Nigeria's starring online buying platforms. Founded successful 2012, Konga offers a third-party online marketplace and first-party nonstop retail spanning assorted categories including electronics, fashion, location and room items, babe and kids products, quality and wellness items, and groceries.
Konga was reportedly valued astatine astir $200 cardinal arsenic of Series C. Konga has raised implicit $75.9 cardinal crossed assorted backing rounds. This includes their Series C circular successful 2014, wherever they raised $40 million, becoming the highest azygous circular raised by a azygous startup successful Africa astatine the time.
How bash these tech startups basal retired successful Nigeria?
Harry Tomi Davies, a Nigerian-British capitalist and Collaborator-in-Chief (CiC) astatine TVC Labs, explained successful an interrogation that Nigeria’s tech startups are not lone achieving singular marketplace valuations but besides addressing captious challenges portion expanding their power crossed Africa and beyond.
TD, arsenic helium is fondly called, outlines the input of immoderate of these cardinal players driving Nigeria’s tech revolution:
- Flutterwave: It’s the integer payments powerhouse that has revolutionized cross-border transactions, enabling businesses of each sizes to process payments seamlessly.
- Opay: Once a ride-hailing service, present a integer fiscal services provider, offering mobile payments, lending, and banking solutions. TD said, “With important backing from Chinese investors, Opay’s accelerated maturation underscores the expanding request for cashless transactions successful Nigeria.”
- Andela: It connects Africa’s top-notch tech endowment with planetary opportunities. The ICT adept said that with Andela refining its enactment exemplary and expanding beyond Africa, it has solidified its spot successful the future-of-work landscape.
- Interswitch: A seasoned successful Nigeria’s integer payments space, Interswitch plays a pivotal relation successful promoting fiscal inclusion with its Verve and Quickteller platforms. “Its extended partnerships with banks and fiscal institutions reenforce its captious relation successful Nigeria’s fintech ecosystem,” TD added.
- Moniepoint (formerly TeamApt): It’s the go-to for powering tiny and medium-sized enterprises (SMEs). It achieved unicorn presumption aft securing $110 cardinal successful backing successful October 2024, with large backing from Google and different investors.
- Jumia: Often dubbed arsenic the “Amazon of Africa,” it continues to beryllium a starring e-commerce level contempt marketplace ups and downs, and with strategical expansions successful logistics and fiscal services, Jumia continues to accommodate to the evolving integer system successful Nigeria and beyond.
- Kuda Bank: A person successful the neobanking sector, offering a mobile-first, branchless banking acquisition with zero-fee transactions and accessible lending solutions. Its customer-centric attack has made it a beardown subordinate successful the fiscal inclusion space.
- Moove: This start-up is indispensable successful addressing proscription financing challenges. It provides revenue-based conveyance financing for ride-hailing and logistics drivers, and by bridging the financing spread for gig workers, Moove is redefining conveyance ownership and mobility entree successful the country.
Which tech sectors pull the astir investment?
TD explains that investors are backing startups that lick pressing challenges astatine scale, thrust fiscal inclusion, and leverage exertion to amended efficiency, specified as:
1. Financial exertion (Fintech)
Dominating the concern scenery owed to Nigeria’s ample unbanked population, accelerated mobile wealth adoption, and the propulsion for fiscal inclusion, this assemblage is an undisputed heavyweight.
It has besides benefited from regulatory advancements and accrued user spot successful integer payments. Key players see but are not constricted to: Flutterwave, Paystack, Opay, Moniepoint, Kuda, Interswitch, Paga, FairMoney, Carbon, Okra, PalmPay, PiggyVest, Migo, Rise, and Nestcoin.
2. E-commerce and logistics
As integer buying soars, robust transportation networks are turning challenges into opportunities, frankincense making these sectors the backbone of integer trade.
Logistics startups are bridging infrastructure gaps, making e-commerce much accessible. Some cardinal players are Jumia, Konga, TradeDepot, Kobo360, OmniBiz, Sendbox, ShapShap, GIG, Flutterwave Store, and Paystack Commerce.
3. Education exertion (Edtech)
Driving integer learning for a youthful nation, this assemblage is rapidly bridging the gap. Startups successful this abstraction are offering affordable, scalable acquisition solutions for some world and vocational training, specified arsenic Andela, uLesson, AltSchool Africa, SemiColon, Codar, Genius Hub, FlexiSAF, GetBundi, Edukoya, and Transition School.
4. Health exertion (Healthtech)
Propelled by the COVID-19 pandemic, this assemblage continues to alteration healthcare delivery, highlighting the request for telemedicine, digitized wellness records, and AI-powered diagnostics. Some tech-driven healthcare players are Helium Health, Clafiya, DrugStoc, Reliance Health, LifeBank, Remedial, MDaaS Global, and Intron.
5. Agricultural exertion (Agritech)
Agritech startups are modernizing agriculture—Nigeria’s economical backbone—with astute solutions for nutrient production, proviso chains, and husbandman financing. Some players enhancing nutrient information successful the state are Thrive Agric, Farmcrowdy, Babban Gona, Releaf, AgriConnect, Airsmat, and Farmstock.
6. Mobility and transportation
Offering innovative ride-hailing and logistics solutions to municipality congestion and operational inefficiencies, these startups are shifting gears connected the roads similar Moove, MAX.ng, Gokada, Uber, and Bolt.
TD said, “As Nigeria’s tech ecosystem matures, we can expect adjacent much innovation and capitalist involvement successful solutions that heighten fiscal access, trade, education, healthcare, nutrient security, and mobility.”
How bash these startups lend to the economy?
According to TD, Nigeria’s starring tech startups are astatine the bosom of the country’s economical transformation; helium highlights the pursuing interaction of tech startups connected economical improvement and employment:
- Job creation: These startups straight supply employment and stimulate important indirect occupation maturation crossed assorted sectors similar the gig economy, bundle development, logistics, lawsuit service, and more.
- Economic growth: TD mentioned that the tech assemblage contributes betwixt 10-15 percent of Nigeria’s GDP (gross home product), with fintech startups starring the complaint successful integer transactions and fiscal services expansion.
- Attracting overseas investment: According to the ICT expert, Nigeria’s tech ecosystem attracted implicit $1 cardinal successful task superior successful 2024, thereby positioning the state arsenic a starring destination for tech innovation.
- Financial inclusion: Digital banking systems and payments are opening caller avenues for Nigeria’s unbanked and underbanked population.
- Digital transformation: By embracing precocious technologies, these startups are solving section problems astatine scale.
- Infrastructure development: E-commerce and logistics startups person accelerated the improvement of outgo gateways, transportation networks, and warehousing solutions.
TD besides shared further insights by noting that, “Nigeria’s startup ecosystem is not conscionable astir creating wealth—it’s astir transforming the economy, solving real-world problems, and laying the instauration for a integer future. These startups are proving that innovation, resilience, and concern successful exertion are almighty tools for economical development. As they proceed to scale, their interaction volition widen beyond Nigeria, shaping the aboriginal of tech crossed Africa and beyond.”
How galore tech startups are successful Lagos?
Lagos is location to galore tech startups, making it 1 of Africa’s biggest tech hubs. While the nonstop fig is unclear, the metropolis hosts respective 100 startups, including billion-dollar companies similar Flutterwave, Opay, and Interswitch.
What is the apical tech startup successful Nigeria?
According to assorted sources, the biggest tech institution successful Nigeria is Flutterwave, a fintech institution that provides outgo solutions. The institution is valued astatine implicit $3 billion, making it 1 of Africa’s astir invaluable startups.
Is Nigeria a tech hub?
Nigeria is simply a large tech hub successful Africa. Many startups and investors are helping the state turn successful fintech, e-commerce, and different tech industries.
What are the highest-paying tech startups successful Nigeria?
Top high-paying tech companies successful Nigeria see Andela, Paystack, and Interswitch. They are known for competitory salaries and maturation opportunities.
What is the fastest-growing fintech successful Nigeria?
One of the fastest-growing fintech companies successful Nigeria is Moniepoint, which became a unicorn successful 2024 aft raising $110 cardinal and present processes implicit 800 cardinal transactions monthly.
These apical tech startups successful Nigeria play a important relation successful the Nigerian system and are helping to signifier the country’s tech manufacture portion creating caller opportunities. Most of them person raised sizeable amounts of superior from investors, with immoderate securing implicit $100 cardinal successful funding.
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