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Nigerian startups mobilized $73.6 million in Q2, 2018

Nigerian startups mobilized $73.6 million in Q2, 2018
  • Comments   -   Wednesday, 11 July 2018 - 15:54

(Ecofin Agency) - Between April and June this year, Nigerian startups raised a total of $73.6 million, up 800% from the $9.2 million a quarter earlier.

According to the latest techpoint.ng report, the amount was mobilized from 30 local and foreign investment firms by 41 startups. Main beneficiaries include companies that provide financial services (12), agritechs (7), startups active in governance (4) and logistics (3).

The most of the resource ($47.5 million) was of type C financing. The online payment provider Cellulant was the only beneficiary of this type of financing. Three other startups received $13.5 million in type A financing while $10.2 million was granted as donation to 10 companies.  

Chamberline Moko


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