- The fintech ecosystem in Nigeria has attracted women who are raising funds for their ventures in the country
- The all-women led startups are plugging financial gaps that exist in the ecosystem and closing the gender disparity cleavages
- Many of them have raised billions of naira in a system devoid of government support and lacks infrastructure
Nigeria is leading Africa in digital revolution and inclusion despite the absence of government support and infrastructure.
The Nigerian tech ecosystem raised over N1.6 trillion in 2021 alone, cruising past the ones raised in 2019 and 2020.
This year in comparison to previous years, startups led raised over a million dollars each.
Research published by Briter Bridges this year revealed about 3 per cent of capital invested in African startups from 2013 to 2021 went to startups owned by women.
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Flutterwave, five other Nigerian startup companies that struck the biggest deals in 2021 worth over N300bn
Over a billion raised for transport system
Nairametrics reports that Shuttlers is a tech-powered bus-sharing company founded by Damilola in 2016. It provides businesses with enhanced transportation choices for employees. It raised N664 million in funding to scale up beyond Nigeria.
Built on the traditional thrift system of savings known in local parlance as Ajo or Esusu, Bankly intends to digitize the system.
It was founded in 2018 by Tomilola Adejana and Fredrick Adams. Bankly wants to drive financial inclusion and digitise cash for the unbanked population.
Bankly raised N830 million in seed round.
Okra is a Nigerian Application Interface-focused company that raised N1.4 billion in a seed round.
Okra was founded by Fara Ashiru Jituboh and David Peterside. Okra’s API enables companies and developers to build products without hitches and to access financial data and also secure payments.
Klasha is Nigerian-owned San Francisco based cross-border tech company that was founded by Jess Anuna.
Klasha raised N996 million in seed funding in 2021 so as to build tech infrastructure for cross-border commerce in Africa.
Education-focused startup attracts N1 billion
An online learning medium focused in Africa and founded by Honey Ogundeyi in December 2021, Edukoya secured over N1 billion in pre-seed funding. It is the most funding any African EdTech platform has raised recently.
Reelfruit, a premium dried fruit company founded by Affiong Williams and recognized for its high-quality healthy snacks raised N1.2 billion in Series A investment.
Equity fund focused on women start-ups
Legit.ng has reported that Alitheia IDF, an African women private equity fund, has announced a $100 million investment fund to help women entrepreneurs and businesses that impact women.
In a statement published on its website, Alitheia said the fund is looking to bridge the financing gap for women-led or owned businesses in Africa.
The funds will specifically target businesses situated in Nigeria, South Africa, Ghana, Zimbabwe, Lesotho, and Zambia.