Nigeria

Crypto users in Nigeria briefly lose access to Binance, Kraken and Coinbase

Some cryptocurrency exchanges in Nigeria faced accessibility issues for users, prompting speculation of imposed restrictions on crypto sites, the Financial Times reported. On Wednesday, local media re

Nigerian digital bank FairMoney in talks to buy Umba in $20M all-stock deal, sources say

FairMoney, a digital bank based in Lagos and headquartered in Paris, is in discussions to acquire Umba, a credit-led digital bank providing payroll and financial services to customers in Nigeria and K

African neobank Kuda tried to raise $20M at flat valuation in 2023, missed user milestone projection by 3M

Updated to note that Kuda has now responded to say that it didn’t close a bridge round last year. The story below is modified to reflect that. Earlier this month, Kuda co-founder and CEO Babs Ogunde

YC-backed African fintech Cleva, founded by Stripe and AWS alums, raises $1.5M pre-seed

Nigerian fintech Cleva, focused on creating a banking platform for African individuals and businesses to receive international payments by opening USD accounts, has raised $1.5 million in pre-seed fun

Online grocery startup Pricepally to expand in Nigeria backed by $1.3M funding

New solar mini-grids in Africa to be powered by Husk Power Systems’ $103M Series D

Husk Power Systems, a clean energy company at the forefront of fueling rural electrification since 2008 and that announced plans to launch 500 solar mini-grids in Nigeria over the next five years, has

African startups see their fundraising prospects dry up as capital availability falls yet again in Q3

The full picture regarding capital availability for African startups is far from encouraging, but there are always green shoots to highlight.

Akowe wants to fix Africa’s broken certificate system with blockchain

The crypto industry has long been criticized for its disconnection with the real world, but there are players who try to show that the underlying blockchain technology can solve some of our most press

Mecho Autotech raises $2.4M, ventures into wholesale spare parts distribution

Mecho Autotech, a startup offering automotive spare parts, vehicle repairs and maintenance services, has raised a $2.4 million pre-Series A round. The firm targets the Nigerian market, where 90% of th

Emtech to advance its regtech and CBDC stack solutions with $4M led by Matrix Partners India

Emtech, an African provider of central banking infrastructure, introduced its Central Bank Digital Currency (CBDC) Innovation kit last month. The kit caters to fintechs and financial service providers

Cold-chain startup Figorr raises $1.5M, backs the rollout of data-driven perishables insurance

Oghenetega Iortim built Nigerian-based cold-chain startup Figorr after imagining better means of storage and transportation of temperature-sensitive products, following the post-harvest losses from hi

African payment service provider Nomba raises $30M, backed by Base10 Partners and Shopify

Nigerian payment service provider Nomba has raised $30 million in a pre-Series B investment to support the delivery of bespoke payment solutions for African businesses. The round, which values the com

Techstars-backed Fez Delivery gets funding to scale its last-mile logistics platform

Fez Delivery, a Lagos-based last-mile logistics startup with hubs across Nigeria, has raised $1 million led by pan-African investor Ventures Platform with participation from Voltron Capital, Acasia Ve

Apply now to speak at TechCrunch Disrupt in September

Do you have the desire, the expertise and the followers it takes to be a speaker at TechCrunch Disrupt 2023 on September 19–21 in San Francisco? Then heed this call for content, because we want to h

Co-Creation Hub’s edtech accelerator puts $15M towards African startups

Africa’s largest innovation hub Co-Creation Hub (CcHUB) is launching a $15 million accelerator program, dubbed The Edtech Fellowship Program, to back and support 72 startups across Nigeria and Kenya

Nigeria’s Curacel raises funding to power insurance offerings and expand into North Africa

As many as 2.8% of Africans are insured, which is less than half the global average of 6.3%, making it the least insured continent in the world. Despite the abysmal number, there’s some good news. A

More job cuts loom as Sendy changes course in Nigeria

In October last year, Sendy, a Kenyan logistics scale-up, wound up its supplies service, which enabled retailers to purchase FMCGs directly from manufacturers, saying it was directing all its focus on

SunFi aims to be the fastest way for Nigerians to find, finance and manage solar

SunFi, the Nigerian clean tech startup that connects people and businesses who want solar energy access to payment plans that match their needs, has raised $2.325 million in seed funding. The self-des

Nigerian agritech Releaf gets more capital as it launches new tech for food processing

Releaf, a Nigerian agritech startup that supplies ingredients (starting with the oil palm) to consumer goods manufacturers and their food factories, has received $3.3 million in an oversubscribed pre-

Nigerian startup Taeillo raises funding to scale its online furniture e-commerce platform

Individuals or businesses buying furniture in Africa can purchase from local furniture stores or global furniture retailers like Ikea. But both options have pros and cons; for the latter, local furnit
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