Report: Nigerian startups raised $28.35m in Q2 2020, 14% higher than in Q2 2019

August 03, 2020 · 1 min read
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In the last two and a half years, Techpoint Africa has released a series of reports — free and paid as well as quarterly and annually — that provided in-depth and comprehensive analyses of funding activities in the Nigerian startup space.

It is in the spirit of making insightful data available to stakeholders that we present the funding report for the second quarter of 2020, the second quarterly edition in the build-up to the 2020 annual report.

Nigerian startups raised a total of $28.35m in Q2 2020, a 48.8% decline from what was raised in Q1 2020.

As with previous reports, the data used for this report was collected in real-time as well as from anonymous tips; we also reached out to investors. Below are some of the highlights of the report:

  • Two healthcare startups accounted for 88.18% of the total amount raised
  • Financial Services providers accounted for 8.45% of the total amount raised
  • Local funders provided less than 5% of the total amount raised
  • Quarter-on-quarter and year-on-year breakdown and analysis
  • Contact details of startups that are still open to funding
  • And more

Do note that previous reports are available on our Intelligence platform. Funding news tips can be sent to or by filling this form.

Find out more in the report. Download it here.


Yinka AwoSanya


Mobile & African Tech Enthusiast │ Data Analyst │ Music

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