The Nigerian events industry is reportedly worth over $20 billion; an average Nigerian middle-class family/company spends over $15,000 per event. In Lagos State alone, over 20,000 events are held each month and over $300,000,000 was spent annually in organising some form of social event.
ogaVenue looks to capitalise on these stats to scale its business model. With over 2000 listings across 17 states in Nigeria, the startup enables customers to scout for perfect venues for weddings, conferences or birthdays. The $45k investment will enable further expansion to more states across Nigeria, scaling of inventory, and the building out of the product, engineering and business development team.
ogaVenue, which was launched in 2015 by Andrew Airelobhegbe, was one of 8 Nigerian startups that pitched at DEMO Africa finals in 2015. In a comment to the press, he expressed optimism that with SPARK and Hotels.ng on board, “we are certain that together, we will radically change the face of events and hospitality in Nigeria and Africa.”
Jan. 18: Bonus Built in Africa episode: Town Hall meeting with Peter Salovey, President of Yale University
On March 25, 2021, Techpoint Africa will be hosting the brightest minds in decentralised finance/crypto at the Digital Currency Summit tagged “Building the money of the future” Click here for more details, registration and sponsorship. Location: Fourpoint by Sheraton, V.I. Lagos
Report: Millionaire West African startups” raised over $1.806 billion between 2010 and 2019, 97.9% of which went to Nigerian startups. Get a free overview and 50% purchase discount here.