Nigerian tech start-ups raised N705bn in 2021 – US Ambassador

Nigeria attracted 60 percent of the total money raised by tech startups in Africa in 2021amounting to N705.5billion ($1.7 billion). This was disclosed by US Ambassador Mary Beth Leonard at the 2021 Nigeria Tech Summit organised by US Embassy in Nigeria, Abuja The Ambassador, who noted the significant success that Nigeria has made to attract […]

Nigeria attracted 60 percent of the total money raised by tech startups in Africa in 2021amounting to N705.5billion ($1.7 billion).

This was disclosed by US Ambassador Mary Beth Leonard at the 2021 Nigeria Tech Summit organised by US Embassy in Nigeria, Abuja

The Ambassador, who noted the significant success that Nigeria has made to attract the most funding for fintech in the continent said: “Africa-based tech startups have raised more than $2.9 billion. Nigerian startups, which are creating new products, services, and platforms, raised $1.7 billion of this total or about 60% of it”.

“Africa boasts a total of seven tech “unicorns,” or companies valued at over $1 billion. I find it very exciting to note that three of these companies – OPay, Flutterwave, and Interswitch – are born and bred of Nigerian talent. We firmly believe that Nigeria, with the proper support, has enormous potential to do even more.”

She added that the United States would continue to support the Nigerian tech space and try to promote an enabling environment.