The Nigerian tech startup scene is thriving, showcasing innovation and resilience in the face of challenges. As we step into 2025, several startups are making waves and setting the stage for future growth. Here’s a look at the top 10 tech startups to watch in Nigeria this year.
1. Flutterwave
Founded in 2016 by Olugbenga Agboola and Iyinoluwa Aboyeji, Flutterwave has emerged as a leader in the fintech space. The company specializes in providing seamless payment solutions for businesses across Africa and beyond. With over $475 million raised in funding, Flutterwave is valued at approximately $3 billion. Its payment gateway allows businesses to accept payments in multiple currencies, making it a go-to solution for merchants looking to expand their reach.
2. Moove
Moove, established in 2020 by Ladi Delano and Jide Odunsi, is a mobility fintech company that provides vehicle financing solutions. The startup has raised over $300 million to date and aims to empower drivers in ride-hailing and logistics by offering flexible rental options. With its innovative approach, Moove is transforming the transportation landscape in Nigeria and other African countries.
3. Nomba
Originally known as Kudi, Nomba rebranded to focus on customized payment solutions for businesses. Founded in 2016, it has secured $30 million in its Series B funding round in 2023. Nomba’s platform simplifies payment processes, making it easier for businesses to manage transactions efficiently.
4. Moniepoint
Formerly TeamApt, Moniepoint has made significant strides in the fintech sector. The company raised $50 million in funding to expand its credit offerings. Moniepoint provides businesses with a comprehensive suite of financial services, including payment processing and financial management tools.
5. Konga
Konga is a well-known e-commerce platform in Nigeria, founded by Sim Shagaya. The company has evolved into a major player in the retail space, offering a wide range of products and services. With over $78 million raised in funding, Konga continues to innovate and expand its offerings, making online shopping more accessible to Nigerians.
6. Kudabank
Kudabank is a digital bank that provides users with a seamless banking experience through its mobile app. The startup focuses on financial inclusion by offering services like savings accounts, loans, and money transfers. Kudabank has gained significant traction and is becoming a household name in Nigeria’s fintech ecosystem.
7. LifeBank
LifeBank is a healthtech startup that ensures the timely delivery of critical medical supplies, such as blood and oxygen, to hospitals. By leveraging technology and a robust supply chain, LifeBank is improving healthcare access in Nigeria. The startup has garnered attention for its innovative solutions and commitment to saving lives.
8. Thrive Agric
Thrive Agric is an agritech startup that connects smallholder farmers with funding and resources. The platform enables individuals to invest in agriculture and supports farmers in improving their yields. By providing practical agricultural tips and a profit-sharing model, Thrive Agric is transforming the agricultural landscape in Nigeria.
9. Paystack
Paystack, acquired by Stripe in 2020, is a payment processing company that simplifies online transactions for businesses in Nigeria. The startup has raised over $10 million in funding and is known for its robust payment gateway, which supports various payment methods and currencies.
10. Opay
Launched in 2018, Opay is a fintech company that offers a wide range of financial services, including mobile banking, money transfers, and bill payments. Backed by major investors like Sequoia Capital, Opay has quickly become a popular choice for Nigerians seeking convenient banking solutions.
Conclusion
The Nigerian tech startup ecosystem is vibrant and full of potential. These top 10 startups are not only leading the charge in their respective sectors but are also paving the way for future innovations. As they continue to grow and attract investment, they play a crucial role in shaping Nigeria’s economic landscape and addressing the challenges faced by the nation. Keep an eye on these trailblazers as they navigate the exciting opportunities ahead in 2025!
