Home Technology Tech Startups in Nigeria : Significant Making Progress & Growth

Tech Startups in Nigeria : Significant Making Progress & Growth

by husnain
Tech Startups inNigeria

2021 was an important year for both venture capitalists as well as African online entrepreneurs. Re-opening businesses and returning to the normal routine meant that people could continue to follow the routines they had developed during lockdowns. Because of this shift in preferences for customers, Africa had one of the most advanced technological industries.

As African tech continues to rise, it’s no surprise. Additionally, the market is poised to see a tech boom because the percentage of Africa’s youth populace is growing.

Selection of some technological startups in Nigeria fast growing companies to keep an eye on in 2022 was generated from the last round of investment rounds.

Releaf

Releaf, an agritech company was founded at the end of 2017 Ikenna Nzewi as well as Uzoma Ayogu, is aiming to improve the industrialization of oil palm processing in Africa and to increase production. Kraken is the Kraken machine, which was developed by a mission-driven agritech company that was created to speed up palmnut processing and reduce waste. Releaf also supports environmentally-friendly farming practices.

Safeboda

The ride-hailing service with two wheels of this Ugandan company was launched in 2018 before launching an app with a sleek design in the year 2019. Uganda and Nigeria currently serve over 1 million users with transportation, parcel delivery grocery and food delivery, payments, savings, as well as other services for financial. Approximately 25,000 drivers are working for the organisation and have delivered more than 40 million packages to the US along with the UK.

TymeBank

Using a hybrid approach of digital banking and physical service centers this tech startup in Nigeria is accelerating the financial inclusion. The Pick n Pay and Boxer locations across the country are equipped with kiosks that allow customers to register for the service (more than 80percent).

Kippa

Kennedy Ekezie, Duke Ekezie, and Jephthah Uche have returned to the drawing boards after their last startup failed to uncover a business-worthy challenge in Nigeria. Afterward, the trio decided to go on a marketing tour to gain a better understanding of the obstacles that micro-business owners in Nigeria face. They found a major problem that they could solve after their investigation: bookkeeping. The issue was resolved in February 2021 when they announced the introduction of Kippa, a straightforward financial management app for small business owners. After only a few months of growth, Kippa attracted thousands of users and raised $3.2 million worth of seed capital by 2021. The question of how much it can grow in 2022 seems logical.

Twiga foods

Utilizing technology to build supply chains for food as well as retailers’ distribution systems across Africa, Twiga Foods has been doing this since 2014. The technology startup in Nigeria has a mobile, cashless . B2B platform link farmers as well as vendors. However, it’s been a challenge to preserve the integrity of the products acquired from Twiga’s smallholder farmers.

Wave

The company raised $200m in Series a funding last year, this mobile money service that is based on the United States and Senegal made headlines. The wave became one of the unicorns in Francophone Africa with a valuation of $1.7 billion following this funding round.

In 2014, two co-founders founded the company due to their dissatisfaction with the challenges and cost of sending money to Africa in North America. The technology-driven startup in Nigeria was launched in 2018 by the co-founders following having sold Sendwave to WorldRemit in 2017. The two-year-old business is said to be the top Senegal mobile money service and serves over half Senegal’s adult customers.

Chooya

In the wake of previous tech-related startups in Nigeria that failed, Igwe Uguru founded Chooya, an e-commerce search engine which has since become Africa’s own version of TikTok for e-commerce. Allowing customers to recommend and even get a reward for their recommendations is among the distinctive advantages of Chooya’s website.

When Chooya won the Entrepreneurship World Cup with the cash prize of $950,000, the market boomed. Since then, there has been an impressive increase in the number of companies joining the platform. Established at Aba, Nigeria, the Aba-based firm is planning expanding to more African cities in 2022. beginning with Nigeria.

Edukoya

Former Google Nigeria CEO Honey Ogundeyi started Edukoya in May 2021 after being fired. Edukoya offers a variety of useful features specifically designed for Nigerian Secondary school pupils. A data-driven question bank with instructions for each step, a personalized performance tracking system, the ability to provide 24/7 exam preparation and homework tutoring are only few of the features offered. After a short period of beta testing the 96% of students who used Edukoya did better on their test.

Minly

Creators in the Middle East and North Africa can utilize Mainly, an Egypt-based platform that allows them to establish real, intimate relationships with their followers. Mainly had a seed funding round of $3.6 million last year.

From artists and musicians to social media stars and professional athletes such as Egyptian soccer player Mahmoud Trezeguet (who is a player in the Premier League club Aston Villa) Mainly has a devoted following of more than 50,000 users since its launch at the end of 2020.

Stitch

Since the seed round in February 2021 Stitch has secured a $2 million seed extension to speed development, start its new solution and increase its Nigerian workforce.

With the help of Stitch’s data solution apps can connect the apps of their customers’ bank accounts and share the history of their transactions and balances confirm their identities and even make payments through their apps. In the millions on fees has been handled via Stitch since its beginning, with Chipper Cash, Paystack, Franc, Sanlam, Yoco, and Flexclub as some of its regular customers.

Payday

The goal was to “create PayPal for Africa,” Payday secured a Pre-seed capital in the amount of 1 million USD in October 2021. The company was also the very first Rwandan firm to be accepted into Techstars Toronto Accelerator Program in the same month.

Favour Ori, a Rwandan fintech company, introduced its service back in 2021 and it’s helping Africans transfer money and also receive it all over the world. Payday had more than 5,000 users in its first three weeks of operation, the majority of them were recommended by relatives and friends. They also processed $1.4 million in transactions.

TalentQL’s AltSchool

Many people in Africa are enthusiastic about learning digital skills, however there’s not many resources to understand these concepts. That’s why in October of 2021, TalentQL has opened AltSchool. AltSchool is a tech startup in Nigeria that will begin offering classes in the month of April 2022. It is designed for those who would like to understand the fundamentals of software engineering and prepare for a career working in this field.

Related Posts

Leave a Comment

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More