The growth of on-demand delivery in Nigeria has been fueled by rising smartphone and internet penetration, improved digital payments infrastructure, and evolving consumer preferences. With traffic congestion a persistent challenge in major urban centres, the convenience of having food and other goods delivered has become increasingly appealing to Nigerian consumers.
Category Archives: Nigeria Startup
Chipper Cash’s US Remittance Service Remains Unavailable
Chipper Cash launched its US remittance service to empower the African diaspora. However, a terminated bank partnership halted its international money transfer services from the United States.
Meet The 25 Startups Selected For Google Africa’s Black Founders Fund.
Today, the Google for Startups Black Founders Fund announces the selection of 25 African startups. Notably, 72% of these startups are led or co-founded by women, showcasing a strong representation of female leadership. The selected startups demonstrate diversity not only in their leadership composition but also in their geographical representation and sector focus. Below is the list of the startups, presented in alphabetical order.
African Tech Ecosystem Raised $6.5 Billion – 2022 Partech Africa Report
Partech Africa, the VC fund dedicated to technology startups in Africa, has issued its annual report on Africa Tech Venture Capital. The report, which aims to provide a practical picture of the state of the ecosystem, revealed that despite the global VC downturn, the African tech ecosystem grew faster than all other markets globally.
Total funding invested into tech startups on the continent reached $6.5 Billion, an increase of 8% vs 2021, spread across 764 deals – compared to 724 rounds in 2021. The report, consisting of disclosed and confidential deals, saw debt funding more than double in volume, reaching $1.55 billion through 71 deals [65% YoY growth].
Nigeria’s Stears Raises $3.3M to Address Africa’s Data Shortage.
Stears, a Nigerian data and intelligence company, has raised $3.3 million to address Africa’s data shortage. A Nigerian data and intelligence company, Stears has raised $3.3 million to expand into East and Southern Africa, improve its data collection and analytics capabilities, and acquire talent. MaC Venture Capital led this seed round. Serena Ventures, Melo 7 …
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Report: Moove & CFAO’s Suzuki Cars Receives Zero-Safety Rating.
The Suzuki brand of vehicles from CFAO Motors and Vehicle Financing startup, Moove received zero safety ratings and are declared dangerous for our roads. For its mobility entrepreneurs in Ghana and Nigeria, Moove, an African mobility fintech firm, partnered with CFAO Motors, the continent’s most prominent automotive distribution network with a presence in 36 countries, …
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Nigeria’s Abeg App Gets Mobile Money Operator Approval, Rebrands to Pocket App
The Central Bank of Nigeria (CBN) has approved Abeg App, a Piggytech Global Limited product, as a Mobile Money Operator in Nigeria. Abeg Technologies Limited, a division of Piggytech Global Limited, has been given approval in principle (AIP) by the Central Bank of Nigeria (CBN) to operate as a mobile money operator in Nigeria. The …
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10 Startups Selected Into Impact Hub Accra’s Betaraise Accelerator.
Impact Hub Accra’s Betaraise Accelerator has accepted ten promising startups from Accra, Nigeria, and the US. With a minimal-frills approach and a laser focus on aiding first-time founders with no prior expertise in raising money, the Betaraise accelerator is made to help first-time founders move from launching a beta product to their first pre-seed investment …
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Interviews Series: Digitizing Nigeria’s School Operations Using Edves.
Discover how Edves transforms Nigerian education with innovative Educational Technology solutions by Dimeji Falana and team. In a recent interview with Dimeji Falana of Edves, a leading EdTech company in Nigeria, we delve into their innovative approach to digitizing school operations and transforming the educational landscape in Africa’s most populous country. 1. Where are you …
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Nigeria’s Lemonade Finance Secures $725k pre-seed Funding Round.
Nigerian fintech startup, Lemonade Finance, has raised $725K in pre-seed funding for a project aimed at improving access to financial services for African diaspora investors. Nigerian fintech startup Lemonade Finance has secured a US$725,000 pre-seed funding round. The round was led by Y Combinator and other investors Ventures Platform, Acuity Venture Partners and Microtraction. The …
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E-Naira, Africa’s First Digital Currency, Launched in Nigeria.
Africa’s largest economy, Nigeria has launched the continent’s first digital currency, the e-Naira issued and regulated by the Central Bank of Nigeria. Nigeria, Africa’s largest economy, has introduced the e-Naira, the continent’s first digital currency. They join a select group of countries around the world that have adopted the electronic money system, which officials hope …
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Sendbox Raises $1.8 Million to Digitize Deliveries For African SMEs.
Sendbox, a Nigerian peer-to-peer delivery platform for social commerce, has secured $1.8m in a seed funding round to scale operations. A Nigeria-based e-commerce fulfillment platform for merchants in Africa, Sendbox has today announced the completion of a $1.8 million seed round from investors including 4DX Ventures, Enza Capital, FJLabs and Golden Palm Investments. Following a …
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