In a month tech investors decided to open their investment wallets in an unusual manner, five Nigerian startups have found themselves raising $202 million. It is the most investment in a single month since 2019 and beats the whole money raised in 2020.

Flutterwave opened the month of March with a $170 million Series C funding that pushed its valuation to over $1 million; Havenhill Nigeria Limited, a clean energy company raised $4.5 million on the same day as Flutterwave; Kuda Bank followed with $25 million; Termii and Kwik came a day later announcing raising $1.4 million and $1.7 million respectively.

This is the most funding closed in a month since the $200 million investment by Visa in Interswitch. Although Paystack pulled in $200 in the deal with Stripe in October 2020, it is an outright acquisition and so does not count as funding.

The $202 million funding is even more impressive as it eclipses the record of the entire investment in 2020 when about 82 Nigerian startups could only haul in $170 million.

https://innovation-village.com/nigerian-startups-secure-more-funding-in-a-single-month-than-whole-of-2020/

This is so awesome.

Covid or no Covid, we came out of recession

Our startups are firing on all cylinders, they raised more money in one month than they raised last year.

Another reason for me to be a very proud Nigerian.

We are proud of this new height and this is an encouragement for other hustlers who are still twicking their softwares or ideas. If power is your challenge, i have the right solution to power your laptop, and guarantees more than ten hour; laptop powerbank. You can be the next flutterwave, paystack don't slow down yet!

Flutterwave becomes a unicorn, raises $170m at over $1 billion valuation

https://techpoint.africa/2021/03/10/flutterwave-unicorn-raises-170m/

Flutterwave raised $170 million and on top of that, it's now valued @ over $1 Billion.

That's very good to read

NIGERIAN YC-BACKED STARTUP, TERMII, RAISES $1.4 M IN SEED FUNDS

Termii, a YC-backed startup announced that it has raised $1.4 million in seed fund round led by Kepple Africa Ventures and Future Africa. Other participating entities include Aidi Ventures, Remapped Ventures, Nama Ventures, RallyCap Ventures, Assembly Investors, Acuity Ventures, and Kairos Angels. Other notable Industry Angels also joined the round such as Eric Idiahi (Verod Capital), Tayo Oviosu (Paga), Josh Jones (Dream Host), Diran Otegbade, and Ham Serunjogi (Chipper Cash)

https://innovation-village.com/nigerian-yc-backed-startup-termii-raises-1-4-m-in-seed-funds/

They raised $1.4 million just like that,,