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Watch Out For 2022 Tech Startups in Nigeria Posted: March 25, 2022 @ 8:32 am |
2021 was a crucial year for venture capitalists as well as African technological start-ups. Reopening business and returning back to everyday life meant that individuals continued to use the routines that they developed during lockdowns. As a result of this shift in customer preferences, Africa had one of the most technologically advanced industries. As African technology continues to grow and grow, it's not a surprise. In addition, the market is set for a technology boom as the proportion of Africa's young population is increasing steadily. Selection of some technology companies in Nigeria fast-growing firms to look out for in 2022 was made through investment rounds last year. Kippa Kennedy Ekezie, Duke Ekezie, and Jephthah Uche were back on the drawing board following the failure of their previous startup to find a profitable opportunity in Nigeria. Afterward, the trio set out on a market tour to find out more about the difficulties that micro-business owners in Nigeria face. They identified a significant problem that they could solve after their investigation: bookkeeping. The issue was fixed in February 2021 with the introduction of Kippa which is a user-friendly accounting software designed for small business owners. After just a few months of expansion, Kippa attracted thousands of users and raised $3.2 million worth of seed capital in 2021. The issue of how much it will rise in 2022 appears to be reasonable. Releaf Releaf, an agritech company established in the year 2017 by Ikenna Nzewi along with Uzoma Ayogu, seeks to make oil palm processing more industrial in Africa and boost production. Kraken is the Kraken machine, created by a agritech business with a mission that was created to speed up palmnut processing and decrease the amount of waste. Releaf also supports environmentally-friendly farming practices. Safeboda The two-wheel ride-hailing platform of this Ugandan company was launched in 2018 , before launching an app of its own in the year. Uganda and Nigeria currently serve over 1 million users in the ability to transport parcels, delivery of food and grocery shopping payment, savings and other financial services. Around 25,000 drivers work for the company and have delivered more than 40 million packages in and around the US along with the UK. TymeBank Utilizing a hybrid approach that combines digital banking as well as physical service centers, this technology-driven startup in Nigeria is speeding up financial inclusion. There is a Pick n Pay and Boxer locations around the country have kiosks where customers can enroll for this service (more than 90%). Twiga foods Utilizing technology to establish supply chains for food and retailers' distribution systems across Africa, Twiga Foods has been doing this since 2014. This tech startups in Nigeria uses the mobile, cashless B2B platform that connects farmers and retailers. Nevertheless, it has been a challenge to preserve the quality of the products acquired from Twiga's smallholder farmers. Wave In the event that it secured $200 million as part of Series A funding last year, the mobile money company based in the United States and Senegal made headlines. The wave became the very first unicorn to emerge from Francophone Africa with a valuation of $1.7 billion following this fundraising round. In 2014, the co-founders formed the company because of their discontent with the difficulties and cost of the transfer of money in Africa via North America. The technology-focused startup in Nigeria was launched in 2018 by co-founders who had been trading Sendwave to WorldRemit in the year 2017. The two-year-old business claims to be Senegal's leading mobile money service and serves nearly half the country's adult customers. Chooya In the wake of previous tech-related startups in Nigeria that failed, Igwe Uguru founded Chooya the first e-commerce-focused search engine which has since evolved into Africa's version of TikTok for e-commerce. Giving customers the ability to suggest products and even get a reward for their suggestions is one of the most unique characteristics of the Chooya platform. When Chooya won the Entrepreneurship World Cup with an amount of cash that was $950,000. market erupted. Since it, there's been incredible growth, with thousands of companies signing up to the platform. Founded in Aba, Nigeria, the Aba-based firm plans for expansion into other African cities in 2022. starting with Nigeria. Edukoya Former Google Nigeria CEO Honey Ogundeyi started Edukoya in May 2021 after being fired. Edukoya includes many valuable functions specifically targeted towards Nigerian secondary school students. A question bank that is based on data and steps-by-step answers, a custom performance tracking system, all-hours-of-the-day test preparation and homework tutoring are only few of the features offered. Within a few months of beta testing the 96 percent of students who took advantage of Edukoya were able to perform better in their tests. Minly Creators in around the Middle East and North Africa are able to use Mainly, an Egyptian-based platform to develop genuine, personal relationships with their followers. Mainly has had a seed funding round of $3.6 million last year. From artists and musicians to social media stars and professional athletes such as Egyptian soccer player Mahmoud Trezeguet (who plays at Premier League club Aston Villa) Mainly has a dedicated fan base of more than 50,000 people since its inception around 2020. Payday In order to "create PayPal for Africa," Payday received a pre-seed capital of $1 million in October 2021. Payday was the only Rwandan firm accepted into Techstars Toronto Accelerator Program in the same month. Favour Ori, a Rwandan fintech, started the service in 2021 and is now helping Africans transfer money and also receive it across the globe. Payday had more than 5,000 users in its first three weeks, most of whom were referred by family and friends. It also handled $1.4 million worth of transactions. TalentQL's AltSchool Many people in Africa are interested in learning digital skills, yet there aren't many places to get the concepts. This is why, in October 2021 TalentQL established AltSchool. AltSchool is a technology startup located in Nigeria that will begin offering classes in the month of April 2022. It's geared towards those who wish to master the basics of software engineering to prepare for a job within the industry. Stitch Following its $4 million seed round in February 2021, Stitch has secured the $2 million seed extension to speed up development. start its new solution and increase its Nigerian workforce. Through Stitch's data service app developers can link their apps to their users' accounts at banks which allows them to share their transaction history and balances confirm their identities and make payments directly from their apps. Millions of dollars of fees were processed via Stitch since its introduction along with Chipper Cash, Paystack, Franc, Sanlam, Yoco, and Flexclub as among its frequent customers.
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