Nigerian tech firms’ multi-million dollar haul in 2025 fuels innovation across sectors

The Nigerian tech scene was filled with activity in 2025, demonstrating remarkable resilience and growth as several homegrown firms and African startups with significant Nigerian operations successfully closed funding rounds of $1 million and more.

This influx of capital, totalling tens of millions of dollars, is expected to accelerate innovation, expand services, and create new opportunities across critical sectors such as fintech, logistics, clean energy, and education.

Based on reports from multiple data trackers, including Africa: The Big Deal, there is a surge of capital in the first half of the year (H1 2025) as Nigerian startups collectively raised $176 million during the period.

This figure, while representing a slowdown compared to previous peak years, is a substantial multi-million dollar haul as it placed Nigeria fourth among Africa’s ‘Big Four’ funding destinations (South Africa, Egypt, Kenya, Nigeria).

Nigeria maintained a high volume of deals, matching Egypt in the number of startups that raised $1 million or more in H1 2025, confirming the presence of numerous multi-million dollar rounds across the ecosystem.

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Despite a cautious global investment climate, Nigeria matched its peers in attracting a broad base of $1 million+ deals, confirming that capital is being dispersed to drive innovation across various early- and growth-stage companies.

The Nigerian government’s iDICE programme officially kicked off in late 2025, featuring an anchor investment in a new venture fund that achieved a $64 million first-round close.

This institutional support indicates a major push to deepen access to capital for tech and creative startups, promising further multi-million dollar investments in 2026.

Here are the firms that secured funding of one million dollars or slightly more in 2025.

LemFi led the charge as it secured $53 million, an investment which underscores the global demand for seamless cross-border payment solutions, a core offering of LemFi, which facilitates remittances for African immigrants.

The funding should fuel its expansion into new markets and enhance its product suite by further solidifying Nigeria’s position as a fintech powerhouse.

Chowdeck successfully raised $9 million in a Series A round despite the highly competitive food delivery and logistics space.

This capital injection will enable Chowdeck to scale its on-demand delivery services, optimise its logistics network, and potentially expand its footprint across West Africa, providing convenience and employment opportunities.

Read also: How Nigeria’s listed tech firms fared in first half of 2025

Salpha Energy secured $1.3 million in debt financing, an investment that highlights the growing investor confidence in clean energy solutions for underserved communities.

The firm’s mission is to provide affordable solar power that aligns perfectly with Nigeria’s energy transition goals, with a promise to light up homes and businesses off the national grid.

NjiaPay raised over $1 million in pre-seed funding as a Payments-as-a-Service provider. The firm is set to empower businesses with a robust payment infrastructure that reflects the increasing digitalisation of commerce across Nigeria and the wider African continent.

The funding will be used to scale its team and enhance its platform, which addresses technical and operational challenges by acting as a smart aggregator for payment service providers.

JADA, a Lagos-based Edtech/AI firm, successfully raised $1 million in a boost for talent development and the future of artificial intelligence in Nigeria.

The firm aims to tackle the global shortage of data and AI professionals by training skilled African talent and connecting them with businesses, particularly in Europe and the Middle East.

Zazu, a pan-African digital banking platform for SMEs, raised $1 million in pre-seed funding. While initially focused on South Africa and Morocco, Zazu’s pan-African vision includes Nigeria as a cornerstone market for its expansion plans in 2026.

Read also: Tech firms defy economic headwinds to sustain seven-fold growth

SunFi is a clean-energy and solar financing startup that raised one million dollars to expand access to solar power for homes and small businesses.

This funding is intended to support SunFi’s efforts in bridging the financing gap for residential and commercial solar installations, making clean energy more accessible and affordable across the region

Accrue is a Nigerian financial technology company that has shifted its core focus from a crypto investing app to providing cross-border payment solutions across Africa and the US.

The company successfully raised $1.58 million in a seed funding round to support this pivot and its expansion. The funds are intended to enhance the company’s payment infrastructure, expand its team, and grow its presence in more African markets, including Francophone West Africa.

This series of successful funding rounds in 2025 paints a vibrant picture of the Nigerian tech ecosystem despite global economic headwinds. Local and international investors are recognising the immense potential within Nigeria’s youthful population, innovative spirit, and rapidly digitising economy.

Folake Balogun is a renowned tech journalist who offers insightful and critical analysis of the African rapidly growing digital economy, particularly within Nigeria. She closely monitors the health of the African startup ecosystem by covering significant venture capital trends, investment deals, and the challenges faced by emerging firms. Known for her deep dives into the fintech sector, she covers the evolution of digital payments, dynamics of major financial innovations and also extends to emerging technologies such as Artificial Intelligence (AI) and the future of connectivity by providing context to their economic and social impact.

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