Nigeria is the home of many innovative tech startups. Despite the economic challenges in Nigeria, startups thrive to challenge the status quo by consistently attracting local and international investors.
Over the years, Nigerian startups have contributed to the growth of the Nigerian economy. According to a 2021 report, Nigerian startups contributed a whopping $1.09 billion to the Nigerian economy in 2021.
So many disruptive startups are making waves in Nigeria, and their influence has extended to other African countries. You cannot help but be in awe of what Nigerians are up to. It is necessary to know these startups so you can patronize their services or look up to them when starting yours.
Disruptive Startups Making Waves
Nigeria has experienced a remarkable tech innovation journey since its independence in 1960. The different technological innovations that have sprouted over the years have shaped Nigeria into what it is today.
Statista reported in 2022 that there are more than 3,369 startups in Nigeria. These startups cut across FinTech, agriculture, health, education, and energy sectors.
Not only do Nigerian startups make an impact in Nigeria, but they have also taken over the whole of Africa, positioning themselves as the leading destination for startup investment funding in Africa. Continue reading this article to learn about the different startups making waves in Nigeria.
1. Flutterwave
Flutterwave is one of the disruptive startups making waves in Nigeria and Africa as a whole. Flutterwave is a fintech company that makes it easy for business owners to accept online payments easily from different countries. This company was established in 2016 and has been doing exploits since then. The headquarters of this company is in California, specifically in San Francisco. The company has operations in Nigeria, , Uganda, Kenya, South Africa, Ghana and other African countries. This platform accepts payment in more than 30 Currencies and has more than 15 payment options.
2. Andela
Andela is an outsourcing company that helps you find the right person for the right role quickly and cost-effectively. This platform also trains developers and equips them with the right skills to work with employers globally. Andela was established in 2014 by a group of creative and intelligent individuals. This platform operates in more than 175 countries, including regions like Africa and Latin America. Andela has a tool known as Andela Talent Cloud for hiring managers. It helps them carry out their duties effectively.
3. Paystack
Paystack is also one of the startups making waves in Nigeria. This startup helps businesses to carry out smooth transactions. Although it was acquired by Stripe, an Irish American financial services company, its headquarters is still in Lagos, Nigeria. As a business owner, you can use Paystack to carry out online and offline payments and get paid by anyone and anywhere in the world.
4. Calendly
Calendly is an innovation that eases workplace stress. It is a scheduling automation platform that helps you send emails, text, schedule meetings, and carry out other administrative tasks. Tope Awotona founded this platform, which now operates remotely. It is one of the startups you should watch out for in 2024.
5. Kuda
Kuda also called Kuda Technologies is a fintech company that is making waves in Nigeria. It has operations in the UK and Nigeria. This app helps you make free transfers and cashless payments and save money. In 2019, Babs Ogundeyi and Mustapha founded the company. Kuda is one of the disruptive startups making waves in Nigeria.
6. Sabi
Sabi is one of the startups making waves in Nigeria. This platform makes it easy for Small and medium-sized enterprises (SMEs) to have easy access to products and services at an affordable rate. It provides logistics for the fast-moving goods for small and medium business owners. Sabi also provides different types of finances such as inventory finance, inventory to help business owners to grow.
7. Moove
Moove is a startup company that gives customers access to vehicle financing and other financial services that they could not access previously. These services help them to be more productive and successful in their businesses. Moove was founded in 2020 by Ladi Delano and Jide Odunsi to solve the problem of millions of African mobility entrepreneurs’ inability to access vehicle financing. Moove started in Lagos but has spread its wings to 6 cities across Africa.
8. Moniepoint
Moniepoint is a fintech startup that was established to solve the issue of financial transactions in remote areas of Nigeria. Moniepoint has network agents who provide convenient access to banking services in areas where there are no traditional banks. This has helped many people access their finances and send money to their loved ones seamlessly.
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9. Kobo360
Kobo360 is a tech startup reshaping Nigeria’s logistics and supply chain industry. This platform connects truck owners and cargo owners to merchants who want to transport their goods across the country at a reduced cost. The headquarters of Kobo360 is in Lagos but has extended its operation to 6 African countries, including Nigeria, Ghana, Kenya, Burkina Faso, and Ivory Coast. Kobo360 was listed among the “25 Rising African Tech Startups to Watch Out for in 2023” by African Folder.
10. ULesson
ULesson is an ed-tech company transforming the face of education in Nigeria. This platform provides high-quality educational content to students. Students can have access to a wide variety of subjects and topics to study and prepare for their exams. It was created by Sim Shagaya in 2019 and serves pupils and students in primary and secondary.
11. Selar
Selar is a tech startup created specifically for creators to sell their digital products online. This platform allows creators to monetize their content and talents. You can sell any product or service to anybody anywhere in the world. Selar is one of the startups that is creating an impact in the world today.
The Bottom Line
Nigeria’s tech startups are a beacon of innovation and resilience, charting new paths in a landscape ripe with potential. From financial inclusion to educational reform, these companies are redefining industry standards and shaping a brighter future for millions. They stand as testaments to the power of vision fused with action, proving that with the right blend of technology and entrepreneurial spirit, change is not just possible but already underway.
As we spotlight these trailblazers, let their journeys inspire new waves of creators and disruptors. Embrace the lessons they offer, and may your startup story someday join the ranks of these transformative ventures pushing Nigeria and Africa toward an era of unprecedented growth and opportunity.
These Nigerian startups are disrupting traditional ways of doing things and addressing critical issues in different sectors, including the financial, educational, logistics, agriculture, healthcare, etc. Their success encourages aspiring entrepreneurs who are reluctant to start. Get inspired and start your own tech company today!
