igwennannaotu Nigerian startups raised over $400 million in funding in 2024, accounting for 70 percent of West Africa's $587 million total, reaffirming the country's strong presence in Africa's tech ecosystem. According to Africa: The Big Deal, funding remained steady compared to 2023, driven primarily by two major deals Moove and Moniepoint each securing $110 million. Nigeria continued to be a key player in Africa’s "Big Four" investment markets, alongside Kenya, Egypt, and South Africa, which collectively accounted for 84 percent of the continent’s total funding. Transport, energy, agriculture, and fintech were the key sectors that attracted investor interest. Moove and Moniepoint led with $110 million each, reflecting strong confidence in vehicle financing and digital payment solutions. Crypto exchange Yellow Card raised $33 million, while energy company Konexa secured $18 million to expand renewable power. Agribusiness startup Tomato Jos raised $12.2 million to boost tomato processing, and health tech firm, Field, secured $11 million to improve pharmaceutical supply chains. Credit: bd_intelligence on Instagram
