Flutterwave, five other Nigerian Startup Companies that Struck the Biggest Deals in 2021 Worth Over N300bn
- The year 2021 for Nigeria startups has been a massive success as they struck million-dollar deals with global investors
- The deals cut across various industries and these include transportation, finance, and software engineering
- Out of the deals, five stands out having raised over $100 million(N42bn) in funding from investors
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Nigerian startups have a lot to be thankful for in 2021, having attracted global investors to trust in their ideas in million-dollar deals.
Data shows 11 African startups raised at least, $100 million in 2021, five of which were Nigerian owned companies.
Softbank, a Japanese corporation that has invested in Alibaba, Uber, and other prominent firms, is one of the well-known investors funding Nigerian entrepreneurs.
Source: Getty Images
List of Nigerian startups that raised above N42 billion in 2021
Opay:
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In 2021, OPay, an African-focused fintech business, received the most money, obtaining $400 million (N168 billion) in a fresh round of investment.
SoftBank Vision Fund 2 spearheaded this investment round.
Andela:
Andela, a worldwide tech hiring firm that assists businesses in developing remote engineering teams, has secured $200 million (N84 billion) in Series E investment for 2021.
Softbank Vision Fund 2, the venture capital arm of the Japanese company SoftBank, led the investment round.
Flutterwave:
Flutterwave comes next as it raised $170 million (N71.5bn) in a Series C round, putting the company at over $1 billion.
Avenir Growth Capital, located in New York, and Tiger Global, a hedge fund and investment firm based in the United States, led the capital round.
Tradedepot:
TradeDepot, Africa's leading B2B eCommerce and embedded finance platform, raised $110 million (N46.3 billion).
The International Finance Corporation (IFC), a member of the World Bank Group, led the Series B equity investment.
Three Nigerians, Ikenna, Chidi, Oghenetega get N197.7m
Meanwhile, three young Nigerians recently won nearly half a million dollars from Chinese billionaire, Jack Ma.
Legit.ng reported that the funds were given to startups across Africa that set out to solve major problems within their countries.
Among the 10 finalists listed, Nigeria's Ikenna Nzewi came 2nd as Jack Ma foundation disclosed over 12,000 applications were submitted.
Source: Legit.ng
