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Business

Startups rebound from July slump to raise $364.1m

Nigeria’s startup ecosystem staged a dramatic recovery in August 2026, bouncing back from a near-collapse in July when only six startups raised a combined $4.9 million, the lowest monthly figure recorded in recent memory. By August, that number had rocketed to $364.1 million raised by 20 startups, one of the strongest funding months on record […]

Business

Nigeria startup funding fell 17% to $343m in 2025

Nigeria’s startup ecosystem recorded another difficult year in 2025, with total funding falling 17 per cent year-on-year to $343 million, as a sharp pullback in equity investment combined with currency volatility and macroeconomic uncertainty dampened investor appetite, BusinessDay findings revealed. The decline pushed Nigeria’s share of Africa’s venture capital inflows down to 11 percent, its […]

Startups

Google supports African startups, varsities with $9m fund, AI tools

Google has reaffirmed its commitment to Africa, unveiling new subsea cable connectivity hubs, a $9 million fund, and Artificial Intelligence tools for students. The tech giant is building on nearly two decades of partnership with infrastructure, learning, and innovation announcements. Four strategic subsea cable connectivity hubs will be established in the north, south, east, and […]

Business

Nigerian startups secure $4.8m in July funding deals

Nigerian startups raised more than $4.8 million across 10 deals in July 2025, with the biggest funding rounds led by digital credit recovery platform Bfree and mobility fintech Moove. Data from Research shows the inflows came through a mix of debt financing, venture capital, and grants. Bfree secured the largest deal of the month, raising […]

Six Nigerian startups named among Africa’s fastest-growing companies
News

Six Nigerian startups named among Africa’s fastest-growing companies

Six Nigerian startups—Moniepoint, OmniRetail, PalmPay, Termii, Remedial Health, and Paga—have earned spots on the Financial Times’ 2024 list of Africa’s Fastest-Growing Companies, highlighting Nigeria’s strong presence in the continent’s tech-driven business landscape. Now in its third year, the Financial Times ranking, compiled in collaboration with Statista, profiles 130 high-growth companies across Africa. The list measures […]

Nigerian startups receive $220k grant from NSIA
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Nigerian startups receive $220k grant from NSIA

The Nigeria Sovereign Investment Authority has granted a total of $220,000 to three Nigerian startups through the second edition of its NSIA Prize for Innovation. The winners were announced during the final Demo Day on Saturday, where 10 selected startups presented their innovations. Sycamore, a fintech platform facilitating peer-to-peer lending by leveraging technology to connect […]

News Tech

Nigerian startups that shut down in 2023

The year 2023 proved to be turbulent for startups in Nigeria. Naira devaluation, funding scarcity, and the state of the economy all had a role in the demise of Nigerian startups this year, despite having raised over $70 million in investor capital in the previous two years by these startups who have shut down or […]

Nigerian health-tech startup Clafiya secures $610k pre-seed funding
Tech

Nigerian health-tech startup Clafiya secures $610k pre-seed funding

In a stride toward affordable healthcare services in Africa, Clafiya, innovative health-tech startup, has successfully closed a remarkable $610,000 pre-seed round. The funding, led by esteemed investors like Norrsken Accelerator, Acquired Wisdom Fund, Hustle Fund, Voltron Capital, Microtraction, Ajim Capital, and others, will fuel Clafiya’s rapid growth, support product development, and facilitate the recruitment of […]

Business

Business strategists reveal secret to start-up growth

An idea consultant and strategist, Bayode Oke, has urged startups to give more attention to building structures and strategies to survive and grow in the long-run. According to The PUNCH, Oke made this known at a closed boardroom event tagged, ‘Strategic foresighting: A peep into the future of startups in Nigeria’.The business strategist revealed that […]

Startups

Honeywell begins enrollment for talent development program

Honeywell Group has called on members of the public, entrepreneurs and tech enthusiasts to take part in its fifth talent development program slated for early next year to help salvage the economy.   The talent development is a partnership with the Lagos State Employment Trust Fund, on the ‘Lagos Innovates Programme’ which has benefited over […]

Why 60% Nigerians startups fail- Expert
Business News

Why 60% Nigerians startups fail- Expert

A business expert, Mark Idiahi, has disclosed why 60 per cent of Nigerian startups fail within their first two years. According to The PUNCH, Mr Idiahi who is the Chief Executive Officer of Second Chance Care Foundation, a non-governmental organization stated that many Nigerian startup companies fail because of poor leadership in the country. Idiahi […]

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