Every year, new companies in Nigeria spings up with hopes of becoming the next big success story. According to Disrupt Africa Startups Funding Report for 2018, Nigerian startups led the bulk of investment in Africa, recording over 58 startups with a total of $94.9 million from various sectors in 2018.
Startups like: Andela, Flutterwave, PiggyBank, Paystack, and Farmcrowdy keep making waves with fintech, and are contributing to the economic growth of the country. Some of these startups have received funding from local and international venture capitalist and have attracted media mentions.
Here are a few startups to lookout for:
Founded in 2016 by Temie Giwa-Tubosun, Life bank Nigeria is an e-health startup that aims at saving human lives by delivering blood, blood product, vaccines and oxygens to hospitals across Africa. Lifebank task itself with speeding up blood donations process and its deliveries to hospitals. Lifebank is of the opinion that no African should die from shortage of essential medical products at the hospital level and to those in need. The supplies are delivered using smart solutions.
Lifebank claims to have moved upto 12,570 product served at 706 hospitals and attracted 6,542 donors saving over 3118 lives. LifeBank secured a funding of $200,000 from EchoVC Partners and Fola Laoye to expand its services. LifeBank has screening centers in Lagos and Abuja.
Founded by Mark Essien in 2013, Hotels.ng specializes in is travels and hotel booking online in Nigeria. They help make the process of booking a hotel seamless by providing comprehensive help and support to their client. They also provide reviews and recommend hotels, prioritizing the comfort and health of clients to any hotel across the globe. Hotels.ng aims to be the biggest provider of travel information and reservation in Africa.
Shortly after the Hotels.ng was launched Spark.ng made an initial investment of $75,000 after which it invested another $150,000. Hotels.ng secured an additional $1.2M from international investors Echo VC Pan Africa Fund and Omidyar Network in 2015.
Hotels.ng has 11,272 lists of hotel in 1,787 cities in Nigeria. In January 2018, it launched Hotel.africa which is an international hotels booking platform, and Fly.africa which render flights service. Hotels.africa has 27,312 lists of hotels in Africa and covers hotels in Cape Town, Nairobi, Kenya and is set to increase this number. In 2016, Hotels.ng co-invested in OgaVenue, an event booking platform with Jason Njoku.
Thrive Agric is a crowd funding technology-driven agricultural company, that helps smallholder farmers secure funds to grow their business and also connect them to a profitable market during harvest. Thrive Agric was established in 2016 and now have over 11,467 registered farmers across the country working directly and indirectly and an agricultural extension agents working from 12 states within Nigeria, its aim is curbing the amount of food imported by using technology to increase agricultural yield and productivity. The company has a 40:40:20 profit-sharing models, with 40% of profits going to farmers, 40% to subscribers, and the startup taking the remaining 20%.
Launced in 2014 to solve printing needs of SMEs and individual, Printivo is one of the leading digital printing startups in Nigeria, with an online printing shop that allows customers upload their designs like calenders, posters, photobook, diaries, large prints on paper and so on or customize a readymade template and have results printed, shipped and delivered to their doorsteps.
Its unique approach reduces cost and time.
Printivo also secured funds that helped them scale operation. Their entire core process runs in-house as well.
Publiseer is a digital publishing platform tailored to meet the growing needs of independent African authors and artist. The platform was created in 2017 by twin brothers Chidi and Chika Nwaogu to bring publishing, design and technology in one place. Aside its free publishing feature, Publiseer helps authors and artistes convert their raw work into a beautiful and professional masterpiece. With Publiseer, you get a professional book/album cover and unique ISBN/UPC number assigned to their book/album.
The startup recently partnered with Google Play Books, to support Google’s digital book distribution service in fulfilling the publishing requests it receives in Africa and has expanded its operations from Nigeria to other African countries; South Africa, Egypt, Kenya and Ghana.
CowryWise is a Nigerian fintech startup launched in 2017. It operates as a personal finance platform that helps users automates their savings and investments to meet financial goals.
CowryWise helps you automate your savings and earn 10% -15% interest per annum. The platform was built with Bank-Grade security features and works with a PCIDSS compliant payment processor for the security of the data it collects.
CowryWise has raised a total of $170K in funding over 2 rounds; $150K from Y combinatory and $50K from Micro traction.
Founded by Ife Oyedele II and Obi Ozor, Kobo360 is a technology company that concerns itself with an efficient and seamless supply chain framework that aggregates an end to end cargo haulage, from the cargo owners, truck owners, drivers down to the cargo recipients to achieve an efficient supply chain framework.
Cargo owners visit its web and mobile applications and simply request for its services as desired, Kobo360 then takes care of its pickup and delivery of the cargo to the required location.
Kobo360 claims to have moved over 300million KG with a total fleet of 10879, and has supported 2345 businesses since its inception.
It is evidential that Fintech has been a booming sector for quite some time now and does not appear to be going anywhere soon, say it is safe to say that Fintech is the ‘future’. Last year, the global funding in the sector rose to US $111.8 billion, up 120 per cent from $50.8 billion in 2017.
With its large population, one can say Nigeria has become a viable market for unique startups that aims at providing solutions to perceived problems. The Nigerian startup space has experienced massive growth in the past few years.