Nigerian start-ups raise 635 million dollars in nine months
By the AFREEQUE newsroom, based on Pmnewsnigeria
Nigerian start-ups raised 635 million dollars between January and September 2026, 2.6 times more than in the same period in 2025, returning Nigeria to the top of African start-up funding. Seventy-seven companies raised at least 100,000 dollars, according to data from Africa: The Big Deal cited by Pmnewsnigeria.
Nigerian start-ups raised 635 million dollars between January and September 2026, 2.6 times the 247 million raised over the same period in 2025, according to data from the African investment tracker Africa: The Big Deal, reported by P.M. News. Nigeria has thus regained the top spot among African countries for start-up funding and recorded its strongest nine-month performance since 2022.
A total of 77 Nigerian start-ups raised at least 100,000 dollars, compared with 70 a year earlier. Excluding pan-African companies, the country accounted for 37% of funding for companies operating in a single African country, its highest share since 2021.
Four major deals brought in 440 million dollars, or about 69% of the Nigerian total: 250 million for Moove, a mobility-financing company; 100 million for financial technology company Flutterwave; 50 million for online commerce platform Jumia; and 40 million for cryptocurrency infrastructure specialist Yellow Card. Moove announced earlier in October that it intended to leave Nigeria.
Across Africa, logistics and transport companies raised 780 million dollars, or 36% of funding, surpassing financial technology companies for the first time in several years. They raised 760 million, or 35%. The 36% share is a record for the first nine months of a year. Fundraising by Spiro, which raised 345 million dollars, and Moove, which raised 250 million, contributed substantially to the increase.
Summary produced with the help of artificial intelligence tools, under AFREEQUE’s editorial responsibility.
