In anticipation of the upcoming Africa Tech Summit set to hold in Nairobi on the 14th and 15 of February 2024, over 250+ submissions were made by startups in a bid to raise $500,000 to $15 million.
After major scrutiny and rigorous selection of the entries submitted,10 startups made the cut, of which 4 are Nigerian-built startups. These startups are to pitch before a board at the summit. Noting that the selection of these startups cut across various sectors such as Web 3, Agritech, fintech and many others.
In 2023, startups in Nigeria experienced a downturn compared to the milestones achieved in 2022. According to a report by Business day, Africa Technology Research recorded that the ecosystem experienced a decline from $3.2 billion in 2022 to $1.4 billion in 2023 within 9 months. Procurement of this fund would be a major game changer, especially for the Nigerian startups.
The 4 Nigerian startups that made the cut to pitch their innovative ideas are:
This is a Nigerian female-led Lagos-based startup, responsible for processing digital payments and providing bookkeeping solutions.
The startup assists small businesses in Africa buy and sell goods and services and also accepts payments from anywhere in the world.
Founded in 2021 by Keturrah Ovio, the startup was accepted into the Mercury Raise Seed W23 program.
The Nigerian B2B e-commerce platform connects Nigerian businesses together and provides opportunities for seamless transactions between manufacturers and retailers.
The online app offers features such as empowering businesses, facilitates easy and smart selling, alongside smooth and better buying.
The company was Founded in 2023 by Ugonna Ginigeme, and since then continued to develop innovative ways to cater for businesses. Its capacity in workforce is 11-50 employees.
A Nigerian crypto payment platform building payment infrastructure for global citizens such as freelancers, contractors, remote workers,
The crypto-to-fiat platform makes it faster, easier and cheaper for people to buy and trade crypto, gift cards, and more. Crypto can also be used to send money across Africa, pay bills and even shop.
This startup is a financial technology company that provides a platform for unbanked, underserved persons and Micro businesses to access financial services, business loans and services. It also caters for rural and semi urban communities in Africa.
Founded in 2021 by Rukayat Kolawole, Regxta has continued to cater to the needs of millions of individuals by leveraging its user-friendly interface.
The company is backed by investments from Village Capital, Midlothian Angel Network, ARM Pensions, Get Equity and UNSUNG Hereos Acceleration Programme.
