Startups in Nigeria are increasing in number and are solving problems. Nigerians are now becoming less dependent on the government, and this has birthed entrepreneurs. A startup involves a founder or a group of founders who capitalize on market demand and solve problems by building a product or providing services. Startups usually leverage technology to build their high-risk ventures. Here are the top startups solving problems in Nigeria
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Top Startups in Nigeria
Flutterwave is really pushing waves in the Nigerian payment ecosystem and Africa at large. With its potential 1.2 billion users, there’s much to do to succeed and cover these numbers. The innovative API solution it boasts of gives users a customized payment system and provides more than expenses management for businesses.
2. PiggyVest
PiggyVest is a tech startup founded by Joshua Chibueze, Odunayo Eweniyi, and Somto Ifezue. The youth population can attest to the fact that it has helped them in savings and investment. In numbers, the platform has over 200,000 Nigerians utilizing the service. PiggyVest, since its launch has helped saved over N1 billion monthly. Investors such as VilCap Investments, Village Capital, Leadpath Nigeria, and Ventures Platform provided the startup with venture capital funding.
3. Paystack
Paystack is a fintech startup that has African businesses in mind. The startup offers technology that helps emerging companies to become market leaders. They provide a solution that helps businesses accept secure payments locally and globally, even if they are from multiple channels. Alongside this solutions are tools to help businesses attract and keep customers.
4. Thrive Agric
Thrive Agric focuses on Agriculture and was founded in 2016 by Ayodeji Arikawe. Thrive Agric helps small scale farmers secure funds to grow their farm business. It does this by providing a crowdfunding platform. Over 11000 farmers have benefitted from the services of Thrive Agric. The profit-sharing model of the Agriculture startup is this- 40% goes to farmers, 40% to subscribers, and the startup pockets the remaining 20%.
5. LifeBank
In a country where a large number of people die annually due to hypoxemia, Life bank saw a need and decided to provide a platform to improve oxygen distribution to hospitals via AirBank. This way, deaths can reduce.
6. Riby
Riby is another startup making impact in Nigeria. The platform provides financial intelligence for Nigerian cooperatives through its USSD channels and co-Banking application. The startup with backup from investors like GreenHouse Capital, Growth Capital by CCHub, Microtraction, Passion Incubator, Amazon Web Services & the World Bank has over 10000 users.
7. CowryWise
This is another startup in the Nigerian business ecosystem. CowryWise operates a system to encourage savings. CowryWise helps users save and hit their financial Targets by providing an automated savings and investment platform. The startup offers 10% -15% interest per annum, which many find attractive.
8. Hotels.ng
For travels and hotels, this startup has impacted Nigeria. Hotels.ng is an online travel agency that reduces the stress involved in booking a hotel. They achieve this by providing top-notch support to their clients. With the reviews that they offer, clients can get clean and comfortable hotels.