Tech startups in Nigeria are companies that use technology to introduce innovative products to the market.

They modify ways of doing things using technology.

In Nigeria, tech startups has raise several hundreds of millions of dollars in funding. This led to speedy growth in the sector.

Andela.
Andela inc is a remote company in Nigeria, and in other African countries.
They are into training and outsourcing jobs to talented Nigerian people.

Founded 2014 by Ian Carnevale, Iyinoluwa Aboyeja, Jeremy Johnson and Christian Sass. In 2021, Andela received $200M in series E funding by Softbank's vision fund placing the value of the company at $1.5B. Andela is now a Unicorn company.

Kuda
Licensed by the Central Bank of Nigeria, is Nigeria's first mobile-only bank. This tech startup has caused a change in banking in the country by not charging bank fees.

It was founded in 2017 by Musty Mustapha and Babs Ogundeyi. Based mainly on digital banking as its major service, it has secured its place in the Nigerian banking industry even as a startup enterprise.

Kuda raised $25 million Series A funding round and $55 million series B round, the company is now valued at over $500 million.
Kuda is based in London but operated in Nigeria.

Opay.
An African fintech company, with potentials,Opay was founded in 2018 by Yahui Zhou.

The company is one of the fastest-growing providers of non-merchant Point-of-Sale (POS) services and mobile money transfer services in Nigeria.

Opay is valued at $2billion after raising $400million financing in August 2021 led by SoftBank, a Japanese company. The company had raised $50million and $120million in two funding rounds in 2019 too.
Location: Nigeria and Egypt.

Image source: Statistica.