Report: Nigerian startups raised $38.01m in Q3 2019, just 7% higher than Q3 2018

by | Oct 22, 2019

Last year, Techpoint took on the responsibility of chronicling the funding activities in the Nigerian startup space and providing detailed breakdowns and analyses.

It’s in this spirit that we present the Q3 2019 funding report, the last quarterly edition in the build up to the annual report. In Q3 2019, Nigerian startups raised over $38.01 million, over 50% higher than the second quarter, and just about 7% higher than Q3 2018. Like previous reports, the data used for this report was collected in real-time as well as from anonymous tips.

Highlights of the report:
  • Grants made up the highest number of deals (21)
  • Mobility and logistics startups raised more than half of the total value of investments in the quarter
  • Fintech startups accounted for less than 10% of deals
  • Contact details of startups that are still open to funding

Kindly note that previous reports are still available on our platform, and funding news tips can be shared by sending a mail to or by filling this form.

To find out more, download the report here.

Yinka Awosanya
Yinka Awosanya

Mobile & African Tech Enthusiast │ Data Analyst │ Music

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