Nigerian Startup Funding Reports
The Nigerian Startup Funding Report is a quarterly publication in the build-up to an annual report of the
funding activities within the Internet Space in Nigeria. The major purpose of this report is to make
valuable data available to concerned stakeholders while also ensuring that people have a grasp of what’s
happening within the Nigerian Startup Scene.
In this report for Q1 2019, a total of $17,648,000 was raised and most of it was from foreign
investors. More than 80% of the total funding for the quarter was raised by fintech startups.
Nigerian Startup Funding Report 2018
In 2018, a total of $178.3 million was raised by 147 Nigerian and over 90 investors (individuals
and institutions) participated in various funding rounds. Startups in the fintech space got the
lion's share of total funding for the year.
2018 Q3 Funding Report
In this report for Q3 2018, a total of $35,552,585 was raised by 37 startups, mostly from
foreign investors. There are seven startups in the energy sector that got funding.
2018 Q2 Funding Report
In this report for Q2 2018, a total of $73,685,003 was raised by 41 startups, mostly from
foreign investors. In value, grants make up about 13.9% of the total amount raised.
2018 Q1 Funding Report
In this report for Q1 2018, a total of $4,241,196 was raised by 13 startups, mostly from foreign
investors, while grants make up almost 70% of the deals.