Nigerian Tech Sector Attracts Significant Investment
June 2026 proved to be a strong month for the Nigerian startup ecosystem, with companies raising a total of $113.7 million in disclosed funding—a figure that could be even higher considering undisclosed rounds by players like insurtech Myka and B2B platform Midddleman.
The investment activity was fueled by a combination of large deals, such as Flutterwave’s strategic round from Ripple, and smaller investments in early-stage ventures. Notably, climate tech companies received particular attention following the Cascador Pitch Day in Lagos, which saw $4.5 million invested in clean energy startups.
Key Highlights from June Funding
- Flutterwave: Secured a significant strategic investment from Ripple (estimated at $100 million), valuing the company at $3.2 billion—one of the most remarkable deals of the month.
- Myka: Raised an undisclosed pre-seed round backed by Ventures Platform, TLcom, and industry leaders like Shola Akinlade (Paystack) and Ridwan Olalere (LemFi).
- AethexAI: Secured $3 million in pre-seed funding to develop voice AI solutions for enterprises across Africa and the Middle East.
- Stabyl: Launched with a $2.7 million pre-seed round led by Konga, aiming to revolutionize Africa’s FX system with institutional-grade infrastructure.
- Daya: Raised over $2 million to build stablecoin solutions tailored to African regulatory environments.
Sector Focus and Future Outlook
The fintech sector continues to dominate venture funding in Nigeria, but investments are also expanding into enterprise AI, agriculture technology, climate solutions, and other emerging areas. With increasing regulatory clarity and a growing pipeline of innovative companies, the Nigerian tech ecosystem is poised for continued growth.