January 24, 2022 All Things Fintech in Africa

5 Nigerian Fintech Start-ups that have raised over $10 million in funding

In recent times, technology and innovation has helped developed multimillion-dollar finetech start-ups with huge potential in Nigeria and across Africa These Nigerian finetech start-ups have caught the eyes of both local and international investors resulting in hundreds of millions of dollars raised every year.

The most recent Nigerian finetech start-up funding was announced on 21st of January 2020 by Flutterwave with $35 million from their Series B round, bringing their total funds raised to a staggering $55.4M.

Apart from Flutterwave there are other Nigerian finetech start-ups to have raised above $10 million in funding. See the rest below:

5 Nigerian Fintech Start-ups that have raised over $10 million in funding

5. Paystack – $11.7M

Nigerian Fintech Start-ups that have raised over $10 million in funding

Paystack is a fintech startup that offers  online payment facilities to merchants and others. Their most recent funding was came on Aug 28, 2018 from a Series A round, bringing their total raised funds to a total of $11.7M after 5 rounds

4. Migo – $37.2M

Migo, formerly known as Mines is a cloud-based platform that allows customers to use loans, make purchases, and withdraw cash without the need for plastic cards. Migo has raised a total of $37.2M in funding over 5 rounds. Migo’s latest funding was raised on Dec 3, 2019 from a Series B round.

3. Flutterwave – $55.4M

Nigerian Fintech Start-ups that have raised over $10 million in funding

Flutterwave is a fintech company, founded in 2016 and headquartered in San Francisco, California that provides a payment service for global merchants and payment service providers. The company helps merchants accept payments both online and at the point-of-sale through a host of methods, including cards, mobile money and bank transfers. Flutterwave has raised a total of $55.4M in funding over 10 rounds. Their latest funding was raised on Jan 21, 2020 from a Series B round.

2. Paga – $34.7M

Nigerian Fintech Start-ups that have raised over $10 million in funding

Paga is a mobile payment platform founded in 2009 that allows its users to transfer money electronically and make payments through their mobile devices. Paga has raised a total of $34.7M in funding over 4 rounds. Their latest funding was raised on Sep 6, 2018 from a Series B round.

1. OPay – $170M

OPay is a mobile-based platform launched by Opera software company for payment, transportation, food , grocery delivery, and other services. The company  has raised a total of $170M in funding over 2 rounds. Their latest funding was raised on Nov 18, 2019 from a Series B round.

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