In a month tech investors decided to open their investment wallets in an unusual manner, five Nigerian startups have found themselves $202 million richer. It is the most investment in a single month since 2019 and beats the whole money raised in 2020.
The top five companies are Flutterwave, Havenhill Nigeria Limited, Kuda bank, Termii and Kwik
Flutterwave: Flutterwave is the fastest-growing payment platform that provides the easiest and most reliable payment solution for businesses anywhere in the world. The company was founded in 2016 by a team of ex-bankers, entrepreneurs, and engineers. They recently opened the month of March with a $170 million Series C funding that pushed their valuation to over $1 million.
Havenhill Nigeria Limited: They are an independent renewable energy service organization that uses solar energy to generate clean, safe, cost-effective, and sustainable electricity in urban and rural areas within the Federal Capital Territory of Nigeria and other states of the Federation. They raised $4.5 million on the commencement of the month of March.
Kuda bank: Kuda bank is one of the fastest-growing fintech startups in Nigeria. They are offering a wide range of financial services seamlessly. The bank opened up the month of March with a whopping $25 million funding.
Termii: Termii is a communication company that helps businesses use messaging channels to verify and authenticate customer transactions. So far they’ve supported more than 3,200 businesses across every sector with messaging tools to verify and authenticate their customers easily. They announced $1.4 million for the month of March.
Kwik: Kwik is a delivery company that offers B2B deliveries at an affordable rate and without hidden costs. They use the power of technology to give their customers more visibility and flexibility. The company was able to raise $1.7 million at the start of March.
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.
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