Report: Nigerian tech startups raised $120.6m in 2020


Now in its fourth year, the Nigerian Startup Funding Report was started to curate, break down, and analyse the funding activities of Nigerian tech startups. Ten of these reports have been released and have generated positive feedback.

To make insightful data available to stakeholders, we present the third annual edition covering sector analysis, year-on-year breakdown, and trends. 

As with previous editions, Intelligence by Techpoint reached out to featured startups to confirm their figures and indicate if they are open to more funding.

Below are some of the highlights of the report:

  • More than 100 investors (individual and institutions) participated in funding rounds of over 50 Nigerian tech startups in 2020
  • The Financial Services services sector got the biggest share of the total funding for the year
  • As with 2019, Financial Services providers got the highest funding round for the year
  • Fifteen startups raised at least a million dollars each in 2020
  • Year-on-year analysis and trends
  • Details of featured startups

Find out more in the report. This report costs $75 and can be ordered here.


Unlike earlier editions of the report, this report only considered announced deals and those disclosed to Intelligence by Techpoint in confidence.

Kindly note that previous reports — free and paid versions — are still available on our platform, and funding news tips can be shared by sending a mail to [email protected] or by filling this form.

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On March 25, 2021, Techpoint Africa will be hosting the brightest minds in decentralised finance/crypto at the Digital Currency Summit tagged “Building the money of the future” Click here for more details, registration and sponsorship. Location: Fourpoint by Sheraton, V.I. Lagos.



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