Nigeria Startup Funding Hits $635M in Nine Months

In Short

Nigeria raised $635 million in startup funding between January and September 2026, according to Africa: The Big Deal. The total is up 157% from $247 million in the same period in 2025.

What Happened: Nigeria Funding Lifted by Bigger Rounds

The jump was driven by larger investments into established tech companies, especially in mobility, fintech and e-commerce.

Mobility financing company Moove raised $250 million. Payments company Flutterwave secured $100 million. Jumia attracted $50 million, and digital asset infrastructure provider Yellow Card raised $40 million.

Together, the four companies accounted for $440 million, about 69% of Nigeria’s total for the period.

Nigeria also saw more startups getting funded. 77 companies raised at least $100,000, compared with 70 in the same period last year.

On the continental ranking for the nine months, Nigeria led Egypt at $445 million, Kenya at $201 million, and South Africa at $182 million. Across Africa, startup funding totalled about $2.16 billion, a slight decline from the previous year.

Why It Matters: Transport Overtakes Fintech, but Concentration Remains

Africa’s sector mix shifted in the period as logistics and transport overtook fintech in total funding. Transport-focused startups raised $780 million, compared with $760 million for fintech.

Spiro’s $345 million raise and Moove’s $250 million contributed to that shift.

Fintech still led by breadth, with 80 fintech startups raising at least $100,000 each.

The data also points to a split outcome for Nigeria. The country’s overall total is rising, but a large share of funding is concentrated in a small number of established companies, which can make it harder for smaller and early-stage startups to access capital.