Rounds by year and sector, the biggest raises, and acquisitions across Nigerian tech. All figures are disclosed-round data; undisclosed rounds are excluded from totals.
| Company | Amount | Stage | Yr | Lead investor |
|---|---|---|---|---|
| OPay | $400.0M | Series C | 2021 | SoftBank Vision Fund 2 |
| Jumia | $326.0M | Series C | 2016 | Goldman Sachs |
| Moove | $250.0M | Series C | 2026 | Mubadala Investment Company |
| Flutterwave | $250.0M | Series D | 2022 | B Capital Group |
| Airtel Mobile Commerce Nigeria Limited | $200.0M | PIPE | 2021 | TPG Rise Fund |
| Interswitch | $200.0M | Private Equity | 2019 | Visa |
| Branch | $170.0M | Series C | 2019 | Foundation Capital |
| Interswitch | $170.0M | Private Equity | 2010 | Helios Investment Partners |
| Jumia | $150.0M | Series C | 2014 | — |
| OPay | $120.0M | Series B | 2019 | Meituan |
| Moniepoint | $110.0M | Series C | 2024 | Development Partners International (DPI) |
| Interswitch | $110.0M |
| Target | Year | Acquirer | Details |
|---|---|---|---|
| Wealth8 | 2026 | LemFi | UK wealthtech and investment manager providing access to global funds for the African diaspora. |
| Pillar | 2025 | LemFi | UK cross-border credit scoring platform for immigrants. |
| Thepeer | 2024 | Chipper Cash | Tech infrastructure asset acquisition following liquidation. |
| Umba | 2024 | FairMoney | Strategic digital bank acquisition attempt across West Africa. |
| Vella Finance | 2024 | Carbon | Acquired to bolster SME business banking and cross-border trade offerings. |
| Koree | 2024 | Duplo | Francophone Africa cashback and trade tech company acquired to drive expansion. |
| Payday | 2024 | Bitmama | Acquired customer and asset base of cross-border neobank Payday. |
| ORDA | 2024 | Moniepoint | Restaurant management software and point-of-sale operating system. |
| Brass | 2024 | Paystack | Paystack led a consortium including PiggyVest, Ventures Platform, and P1 Ventures to acquire SME banking startup Brass. Brass ceased independent operations in June 2026, migrating customers to Paystack MFB. |
| Paga (Strategic Partnership & Asset Integration) | 2024 | Onafriq | Deepened cross-border remittance clearing agreements. |
| Appruve | 2023 | Smile ID | Pan-African identity verification provider acquired to expand coverage into Francophone Africa. |
| PayLater (Ghana) |
| Company | Date | Stage | Amount | Investors (lead + others) | Sector |
|---|---|---|---|---|---|
| OPay | Aug 2021 | Series C | $400.0M | SoftBank Vision Fund 2 · DragonBall Capital, Sequoia Capital China, Redpoint China | Fintech |
| Jumia | Mar 2016 | Series C | $326.0M | Goldman Sachs · MTN Group, AXA, Orange | E-commerce & Retail |
| Moove | Aug 2026 | Series C | $250.0M | Mubadala Investment Company · Woven Capital, Ion Pacific | Fintech |
| Flutterwave | Feb 2022 | Series D | $250.0M | B Capital Group | Fintech |
| Airtel Mobile Commerce Nigeria Limited | Mar 2021 | PIPE | $200.0M | TPG Rise Fund | Fintech |
| Interswitch | Nov 2019 | Private Equity | $200.0M | Visa | Fintech |
| Branch | Apr 2019 | Series C | $170.0M | Foundation Capital · Visa, B Capital Group, Andreessen Horowitz | Fintech |
| Interswitch | Dec 2010 | Private Equity | $170.0M | Helios Investment Partners | Fintech |
| Jumia | Nov 2014 | Series C | $150.0M | Millicom, MTN Group, Rocket Internet +1 | E-commerce & Retail |
| OPay | Nov 2019 | Series B | $120.0M | Meituan · GSR Ventures, Sequoia Capital China, SoftBank Ventures Asia +1 | Fintech |
| Moniepoint | Oct 2024 | Series C | $110.0M | Development Partners International (DPI) | Fintech |
| Interswitch | May 2022 | Private Equity | $110.0M | LeapFrog Investments · Tana Africa Capital | Fintech |
| Moove | Mar 2022 | Pre-Series B | $105.0M | Speedinvest | Fintech |
| Husk Power | Oct 2023 | Series D | $103.0M | STOA Infra & Energy · US DFC, Proparco, Shell Ventures +2 | Cleantech & Energy |
| Moove | Mar 2024 | Series B | $100.0M | Uber · AfricInvest, Future Africa, The Latest Ventures +2 | Fintech |
| Onafriq | Jun 2022 | Series C | $100.0M | Adamaius Capital Partners | Fintech |
| PalmPay | Aug 2021 | Series A | $100.0M | Chuangshi Capital · AfricInvest, Yunshi Equity Investment Management, Trust Capital | Fintech |
| Chipper Cash | May 2021 | Series C | $100.0M | SVB Capital · Deciens Capital, Ribbit Capital, Tribe Capital +1 | Fintech |
| Airtel Mobile Commerce Nigeria Limited | Apr 2021 | Secondary | $100.0M | Mastercard | Fintech |
| Moove | Aug 2023 | Undisclosed | $76.0M | Mubadala Investment Company | Fintech |
| M-KOPA | Mar 2022 | Growth | $75.0M | Generation Investment Management · LocalGlobe, Broadscale Group, CDC Group | Fintech |
| Branch | Mar 2018 | Series B | $70.0M | Trinity Ventures · Victory Park Capital, CreditEase Fintech Investment Fund, International Finance Corporation +1 | Fintech |
| ThriveAgric | Mar 2022 | Undisclosed | $56.4M | Local commercial banks | Agritech |
| Stitch | Apr 2025 | Series B | $55.0M | CRE Venture Capital · The Spruce House Partnership, PayPal Ventures | Fintech |
| M-KOPA | May 2023 | Series E | $55.0M | Sumitomo Corporation · Blue Haven Initiative, Lightrock, Broadscale Group +1 | Fintech |
| Kuda | Aug 2021 | Series B | $55.0M | Valar Ventures · SBI Investment, Target Global | Fintech |
| LemFi | Jan 2025 | Series B | $53.0M | Highland Europe · Endeavor Catalyst, Y Combinator, Left Lane Capital (led LemFi's Series A) +1 | Fintech |
| Moniepoint | Aug 2022 | Pre-Series C | $50.0M | QED Investors | Fintech |
| Jumia | Apr 2019 | Private Equity | $50.0M | Mastercard | E-commerce & Retail |
| OPay | Jul 2019 | Series A | $50.0M | IDG Capital · Source Code Capital, Meituan, Sequoia Capital China +1 | Fintech |
| FairMoney | Jul 2021 | Series B | $42.0M | Tiger Global Management · Speedinvest, Flourish Ventures, DST Global +1 | Fintech |
| NALA | Jul 2024 | Series A | $40.0M | Acrew Capital · DST Global, Norrsken22, HOF Capital +2 | Fintech |
| Yellow Card | Sep 2022 | Series B | $40.0M | Polychain Capital | Web3 & Crypto |
| Reliance HMO | Feb 2022 | Series B | $40.0M | General Atlantic | Fintech |
| Reliance HMO | Jan 2022 | Series B | $40.0M | General Atlantic · Picus Capital, Partech | Fintech |
| PalmPay | Nov 2019 | Seed | $40.0M | Transsion | Fintech |
| Sabi | May 2023 | Series B | $38.0M | Norrsken22 · CommerzVentures, Proof VC, Fluent Ventures | Fintech |
| LemFi | Aug 2023 | Series A | $33.0M | Left Lane Capital · Y Combinator, Zrosk, Global Founders Capital +1 | Fintech |
| Dash | Mar 2022 | Seed | $32.8M | Insight Partners · Global Founders Capital, 4DX Ventures, Techstars +2 | Fintech |
| Helium Health | Jun 2023 | Series B | $30.0M | AXA IM Alts · Capria Ventures, Angaza Capital, Anne Wojcicki +1 | Healthtech |
| Nomba | May 2023 | Pre-Series B | $30.0M | Base10 Partners · Helios Digital Ventures, Shopify, Partech +1 | Fintech |
| Moove | Dec 2022 | Undisclosed | $30.0M | Franklin Templeton Investments | Fintech |
| Vendease | Sep 2022 | Series A | $30.0M | TLcom and Partech | E-commerce & Retail |
| Chipper Cash | Nov 2020 | Series B | $30.0M | Ribbit Capital · Bezos Expeditions | Fintech |
| Jumia | Mar 2013 | Series A | $26.0M | Millicom · Rocket Internet | E-commerce & Retail |
| Kuda | Mar 2021 | Series A | $25.0M | Valar Ventures · Target Global | Fintech |
| Max | Jan 2026 | Growth | $24.0M | Undisclosed · Novastar Ventures, Endeavor Catalyst, Equitane +1 | Logistics & Mobility |
| Moove | Sep 2021 | Series A | $23.0M | Mubadala Investment Company | Fintech |
| Terra Industries | Feb 2026 | Growth | $22.0M | Lux Capital · 8VC, Nova Global, Resilience 17 | Other / Deeptech |
| Kredete | Sep 2025 | Series A | $22.0M | AfricInvest | Fintech |
| Private Equity |
| 2022 |
| LeapFrog Investments |
| Moove | $105.0M | Pre-Series B | 2022 | Speedinvest |
| Husk Power | $103.0M | Series D | 2023 | STOA Infra & Energy |
| Moove | $100.0M | Series B | 2024 | Uber |
| Onafriq | $100.0M | Series C | 2022 | Adamaius Capital Partners |
| PalmPay | $100.0M | Series A | 2021 | Chuangshi Capital |
| Chipper Cash | $100.0M | Series C | 2021 | SVB Capital |
| Airtel Mobile Commerce Nigeria Limited | $100.0M | Secondary | 2021 | Mastercard |
| Moove | $76.0M | Undisclosed | 2023 | Mubadala Investment Company |
| M-KOPA | $75.0M | Growth | 2022 | Generation Investment Management |
| Branch | $70.0M | Series B | 2018 | Trinity Ventures |
| ThriveAgric | $56.4M | Undisclosed | 2022 | Local commercial banks |
| Stitch | $55.0M | Series B | 2025 | CRE Venture Capital |
| M-KOPA | $55.0M | Series E | 2023 | Sumitomo Corporation |
| 2023 |
| FairMoney |
| Acquired credit asset portfolio for regional expansion. |
| Chaka | 2023 | Rise | Acquired SEC-licensed stock trading platform Chaka. |
| Finja | 2023 | OPay | Pakistani fintech entity acquired for Asian cross-border expansion. |
| Tunnel | 2023 | Prembly | Acquired data infrastructure startup Tunnel. |
| Crypto.com payment processing | 2022 | Checkout.com | Acquired Crypto.com's payment technology and team for undisclosed amount. |
| Woven Finance | 2022 | Hydrogen | Hydrogen acquired Woven Finance to strengthen its payment switching/processing. |
| Orchestrate | 2022 | Bloc | Acquired payment orchestration and card switching startup to enhance payment processing depth. |
| Medshare | 2021 | Helium Health | East African healthcare technology provider acquired to expand regional presence. |
| Sendwave | 2021 | Zepz | Acquired Sendwave for approximately $500 million to expand its African remittance corridors. |
| Ekata | 2021 | Mastercard | Acquired identity verification company Ekata for undisclosed amount. |
| Plaid | 2021 | Visa | Visa agreed to acquire financial data aggregator Plaid for $5.3 billion but the deal was called off in Jan 2021 following DOJ antitrust concerns. |
| Green Lion | 2021 | TradeDepot | Ghanaian FMCG supply chain distribution platform. |
| Locusnine | 2021 | Verto | Software engineering company acquired to boost enterprise product build out. |
| Savl | 2021 | PiggyVest | Assets acquired to bolster digital wealth tools. |
| Paystack | 2020 | Stripe | Acquired for over $200 million. Paystack continues operating in Africa under The Stack Group (2026 restructuring). |
| Careem | 2020 | Uber | Acquired Middle Eastern ride-hailing company Careem for $3.1 billion. |
| Postmates | 2020 | Uber | Acquired food delivery company Postmates for $2.65 billion. |
| Beyond Limits / Beyonic | 2020 | Onafriq | Acquired East African enterprise payment platform during early scaling phase. |
| Honey | 2019 | PayPal | Acquired shopping and rewards platform Honey for approximately $4 billion. |
| Nets | 2019 | Mastercard | Acquired 75% stake in Danish payment processor Nets for ~$3.2 billion. |
| Diamond Bank | 2019 | Access Holdings | Merged into Access Bank to scale retail customer base. |
| eClat Healthcare | 2019 | Interswitch | Healthtech platform integration for healthcare payments. |
| iZettle | 2018 | PayPal | Acquired European POS company iZettle for $2.2 billion. |
| Appsynergies | 2018 | Paga | Acquired software development asset base. |
| Vocalink | 2017 | Mastercard | Acquired UK-based payment systems operator Vocalink for ~$920 million. |
| Vanso | 2016 | Interswitch | Mobile financial services and messaging provider. |
| Xoom | 2015 | PayPal | Acquired international remittance company Xoom for $890 million. |
