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 intelligence@techpoint.africa or by filling this form.

To find out more, download the report here.

Yinka Awosanya
Yinka Awosanya

Mobile & African Tech Enthusiast │ Data Analyst │ Music

On January 22, 2022, be part of the largest gathering of innovators, startup founders, thinkers, programmers, policymakers, and investors in West Africa. Register free.

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments

Recent News

Subscribe to Techpoint Digest!

A daily 5-minute roundup of happenings in African and global tech, sent directly to your email inbox, between 5 a.m. and 7 a.m (WAT) every week day!

Please check your email to confirm your subscription.

Subscribe to Crypto Explorer

A monthly series featuring in-depth analysis on the cryptocurrency sector in Africa

Please check your email to confirm your subscription.

Subscribe to The Experts

A bi-weekly where tech career specialists take us on their journey from newbie to expert, and how they became successful in the industry.

Please check your email to confirm your subscription.

Subscribe to Founder's Table

A monthly series, where we catch up with founders in the startup ecosystem, learn about their failures, successes and a few tricks of the trade

Please check your email to confirm your subscription.

Copy link
Powered by Social Snap