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
To find out more, download the report here.
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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.
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