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Local and foreign investors injected approximately $ 73.7 million into the Nigerian Startup segment in the second quarter.
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Financial services remained the most attractive for investors as startups in the sector earned $ 55.74 million.
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A Series C round of financing represented 64% of the total value of financing during the quarter under review
Local and foreign investors injected approximately $ 73.7 million in value into Nigerian Startups. In the last three months, 75% of the total funding was paid to FinTech companies
Cellulant, Africa's payment platform received the largest share of funding with $ 47,500,000 followed of a limited service company, O-Mobile Multimedia with a $ 10,000,000 grant and PiggyBank with $ 1,100,000 in May. Logistics starts, TradeDepot received $ 3,000,000 in April while Kobo360 received $ 1,200,000 in June 2018.
Here are the details of Techpoint's 2014 Q2 2018 Nigerian Start-up Financing Report on Monday, July 9 2018.
During the period, out of a total of 21 transactions, investor grants recorded the highest number with 10 transactions. Series A and SED financing had 3 transactions each, the Series C financing round, the equity investment and pre-financing recorded 1 transaction each.
Series C financing round consisting of 64% of the total financing by value during the quarter under review. [19659006] Further badysis of the report reveals that $ 10 million was paid to 10 start-ups in the form of grants
$ 10.27 million of pre-seed received $ 1.15 million, $ 50,000 in equity , $ 47.5 in Series C and $ 47.5 million.
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Q2 2018 Nigerian Startup Financing Report – Techpoint
(Techpoint ) [19659012]
In the last three months, a total of 20 foreign investors have reduced their liquidity on Nigerian startups compared to 7 local investors.
The Nigerian Start-up Financing Report is a quarterly publication of Techpoint. The report puts data at the disposal of relevant stakeholders while giving people an idea of what is happening in the technological space.
Earlier in 2018, Disrupt Africa also released the 2017 African Startup Funding Report. The report found that African tech startups raised more money in 2017 ($ 195 million) than the year before (since monitoring began).
The report also reveals that Kenya, Nigeria and Ghana account for over 60% of Tom Jackson, Co-founder, Disrupt Africa, told Business Insider that the African tech startup would not see the growth of the stick Hockey, but rather a slow and steady development as the quality of the companies would improve, more investors feast.
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