Nigerian tech firms’ multi-million dollar haul in 2025 fuels innovation across sectors
Nigeria’s tech ecosystem has continued to shine in 2025, with local and regional startups attracting significant multi-million dollar investments despite a cautious global funding environment. Data from trackers like Africa: The Big Deal shows that Nigerian startups collectively raised $176 million in the first half of 2025, solidifying the country’s position as one of Africa’s top four tech investment destinations alongside South Africa, Egypt, and Kenya. These funds are expected to accelerate innovation across fintech, logistics, clean energy, and education.
Leading the pack, LemFi raised an impressive $53 million to expand its cross-border payment solutions for African immigrants, demonstrating global confidence in Nigeria’s fintech sector. Other notable investments include Chowdeck’s $9 million Series A round aimed at scaling its food delivery and logistics network across West Africa, and Salpha Energy’s $1.3 million debt financing to advance solar solutions for underserved communities. These investments highlight growing investor confidence in sectors that address both convenience and sustainability.
Emerging startups like NjiaPay, JADA, Zazu, SunFi, and Accrue also secured multi-million dollar funding to strengthen Nigeria’s digital infrastructure. NjiaPay raised over $1 million in pre-seed funding to develop its Payments-as-a-Service platform, while JADA secured $1 million to train AI and data professionals for Africa’s growing tech talent pool. Zazu and SunFi’s funding rounds are set to expand pan-African digital banking and solar financing, respectively, reflecting an ecosystem focused on scaling solutions for both businesses and communities.
The Nigerian government is complementing private investment with institutional support, notably through the iDICE programme, which achieved a $64 million first-round close. This initiative is designed to deepen access to capital for tech and creative startups, positioning Nigeria for continued multi-million dollar investments in 2026 and reinforcing the country’s status as a hub for innovation and entrepreneurship.
Overall, the 2025 funding surge underscores the resilience of Nigeria’s tech sector. Despite global economic headwinds, the country’s youthful population, entrepreneurial spirit, and rapidly digitalising economy are attracting both local and international investors. The successes of these startups signal a bright future for Nigeria’s innovation landscape, creating new jobs, solutions, and opportunities across the continent.
source: Business day