Nigeria’s Most Funded Startups Captured 82.9% of 2025 Capital Inflow
Nigeria’s startup funding landscape in 2025 was defined by sharp capital concentration, as a small group of mature companies attracted the overwhelming share of investor funding.
According to compiled deal data, the 11 most funded startups raised a combined $367.2 million, accounting for 82.93% of the total $442.8 million raised by 98 startups during the year. This pattern reflects investor caution amid tighter global funding conditions, with capital flowing primarily to companies demonstrating scale, resilience, and clear paths to profitability.
While overall funding activity remained modest by historical standards, payments, financial infrastructure, logistics, and essential services emerged as the primary beneficiaries of investor confidence.
Funding Breakdown by Sector
Deal data from 2025 shows a clear skew toward a handful of sectors:
- Fintech: 6 startups raised $211 million, accounting for 47.65% of funding among the top 11
- Logistics & Transportation: $100 million (22.58%)
- Energy & Climate Tech: $46.2 million
- Enterprise Services: $10 million
This concentration underscores a growing risk-off approach, with investors prioritising business models that offer recurring revenues and infrastructure-critical services.
Notably, 12 of the 98 funded startups did not disclose funding amounts, highlighting persistent transparency gaps in Africa’s private capital ecosystem.
Top Funded Nigerian Startups in 2025
Payaza – $10 Million
Payaza Africa, a Nigerian payments and infrastructure provider, fully repaid its ₦14.97 billion ($10 million) commercial paper issuance ahead of its June 2025 maturity.
The transaction reflects rising appetite for non-dilutive debt financing among fintech companies with predictable cash flows.
- Deal date: June 2025
- Sector: Fintech
- Deal type: Debt
- Investors: Not disclosed
Mansa – $10 Million
Mansa completed two funding rounds, combining equity and debt to support liquidity and payment infrastructure operations. The startup raised $3 million in equity, led by Tether, and $7 million in liquidity financing.
- Deal dates: February 2025
- Sector: Fintech
- Deal types: Seed and debt
- Investors: Tether, Faculty Group, Octerra Capital, Polymorphic Capital, Trive Digital
Raenest – $11 Million
Lagos-based Raenest raised $11 million in Series A funding to expand its cross-border banking tools for African businesses and freelancers.
- Deal date: February 2025
- Sector: Fintech
- Deal type: Series A
- Investors: QED Investors, Norrsken22, Ventures Platform, P1 Ventures, Seedstars
Koolboks – $11.2 Million
Koolboks raised funding across two deals to scale its solar-powered refrigeration solutions for small businesses and cold-chain operators.
- Grant: $0.2 million (PREO)
- Series A: $11 million (equity and debt)
- Deal dates: July & August 2025
- Sector: Energy & Climate Tech
- Investors: KawiSafi Ventures, Aruwa Capital, All On, FFEM, bpifrance, Shell Foundation, Innovate UK
Arnergy – $15 Million
Arnergy secured $15 million as a Series B extension, bringing its total Series B funding to $18 million. The deal highlights sustained investor interest in off-grid renewable energy amid Nigeria’s power challenges.
- Deal date: April 2025
- Sector: Energy & Climate Tech
- Deal type: Series B
- Investors: CardinalStone Capital Advisers, Breakthrough Energy Ventures, BII, Norfund, EDFI MC, All On
Mopo – $15 Million+ (Multiple Deals)
Mopo raised capital through four separate transactions, spanning debt, grants, and an undisclosed Series A round. This diversified structure reflects growing financing sophistication for infrastructure-linked fintech models.
- Deal dates: January, June, July & September 2025
- Sector: Fintech / Energy-linked finance
- Backers: BII, Octopus Energy Group, UK DESNZ, Norfund
Omnibiz – $20 Million
Omnibiz emerged as the only retail-focused startup among the top 11, raising $20 million in Series A funding to digitise Nigeria’s informal retail supply chain.
- Deal date: April 2025
- Sector: Retail
- Deal type: Series A
- Investors: Norfund, Timon Capital, Ventures Platform, Aruwa Capital, Goodwell Investments, Flour Mills of Nigeria
Kredete – $22 Million
Kredete raised $22 million in Series A funding, reflecting rising interest in embedded finance and credit infrastructure for businesses.
- Deal date: September 2025
- Sector: Fintech
- Deal type: Series A
- Investors: AfricInvest (CAIF & FIVE), Partech Africa, Polymorphic Capital
LemFi – $53 Million
LemFi’s Series B round reinforced investor confidence in cross-border payments and diaspora remittances, supporting its international expansion strategy.
- Deal date: January 2025
- Sector: Fintech
- Deal type: Series B
- Investors: Highland Europe, Left Lane Capital, Palm Drive Capital, Y Combinator, Endeavour
Lagride – $100 Million
Lagride secured a $100 million strategic investment from United Bank for Africa (UBA), ranking among the largest single-ticket deals of the year.
- Deal date: December 2025
- Sector: Logistics & Transportation
- Deal type: Strategic investment
- Investor: United Bank for Africa (UBA)
Moniepoint – $100 Million
Moniepoint emerged as Nigeria’s most funded startup in 2025, raising $100 million across two venture rounds. The fintech giant continues to dominate merchant acquiring, agency banking, and SME financial services.
- Deal dates: January & October 2025
- Sector: Fintech
- Deal type: Venture rounds
- Investors: Visa, Development Partners International, LeapFrog Investments, Google for Startups Black Founders Fund, Verod Capital
What You Should Know
With 82.93% of total startup funding concentrated among just 11 companies, 2025 reinforced a clear investor preference for proven business models, recurring revenues, and infrastructure-critical services.
While this concentration signals confidence in market leaders, it also highlights the increasing difficulty early-stage startups face in raising capital. The presence of undisclosed funding amounts suggests total capital inflows may be higher, but unevenly distributed.
Overall, Nigeria’s startup ecosystem in 2025 remained resilient but highly selective, rewarding scale, defensibility, and profitability in a year where capital was available, but only to the most compelling stories.
