Nigeria’s entrepreneurial spirit is a force to be reckoned with. Often referred to as the “Silicon Valley of Africa,” the nation’s startup ecosystem is a hotbed of innovation, solving pressing local problems with world-class technology and grit. From revolutionizing finance to transforming logistics, these companies are not just building businesses; they are building the future of Africa.
Based on their impact, innovation, funding success and growth trajectory, here are the top 10 best startups in Nigeria you need to know about in 2025.
1. Flutterwave (2016)
Imagine trying to build an online store in a country where online payments were a maze of complexity. Flutterwave cut through the noise. Founded in 2016 by Iyinoluwa Aboyeji and Olugbenga Agboola, this fintech giant provided the simple, powerful APIs that became the plumbing for Africa’s digital economy. They enabled businesses, from solo entrepreneurs to massive corporations, to accept payments from anywhere in the world.
They’re a certified unicorn (valued over $1 billion) and have processed billions of dollars, proving that Nigerian-built tech can become a continental backbone.
2. Paystack (2015)
The startup that made every Nigerian tech enthusiast puff their chest with pride. Founded in 2015 by Shola Akinlade and Ezra Olubi, Paystack refined the online payment experience, making it seamless for businesses to get started. Their story reached a legendary climax in 2020 when Stripe acquired them for over $200 million.
This wasn’t just an exit; it was a global statement. It put the entire African tech ecosystem on the map and inspired a generation to dream bigger.
3. PiggyVest (2016)
Saving money is a universal challenge but in a dynamic economy like Nigeria’s, it can feel like an uphill battle. PiggyVest (formerly Piggybank.ng) was founded in 2016 by Somto Ifezue, Odunayo Eweniyi and Joshua Chibueze to transform saving from a chore into an engaging, rewarding habit. With features like automated deductions and high-interest savings goals, they’ve helped millions save billions of Naira.
They tackled a behavioral problem with technology, fostering a culture of financial discipline and investment for a new generation.
4. Andela (2014)
Andela asked a powerful question: What if the world’s next great tech talent wasn’t in Silicon Valley, but in Lagos, Nairobi or Kampala? Founded in 2014 by Iyinoluwa Aboyeji, Jeremy Johnson, Christina Sass and Ian Carnevale, Andela’s mission was to identify Africa’s most promising software developers, train them and connect them with top global companies as remote engineers.
They championed the idea that “brilliance is evenly distributed, but opportunity is not” and built a scalable model to bridge that gap.
5. MoniePoint (2019)
Founded in 2019 by Tosin Eniolorunda, MoniePoint has become the quiet giant powering Nigeria’s informal economy. It started by providing reliable POS terminals and payment solutions to millions of small businesses and agents, creating a vast network for offline transactions. But it didn’t stop there, expanding into business banking, working capital loans and management tools to form a complete financial ecosystem for SMEs. They have achieved phenomenal, deep-rooted dominance, processing billions of dollars and building one of the largest and most trusted agent networks in the country, directly fueling the growth of countless small businesses
6. Kuda Bank (2019)
Tired of unnecessary bank charges and clunky apps? So was the team at Kuda. Launched in 2019 by Babs Ogundeyi and Musty Mustapha, Kuda became Nigeria’s first fully-licensed digital-only bank. With a sleek app, free transfers and powerful budgeting tools, they declared war on the inefficiencies of traditional banking.
They’ve captured the hearts of millions of young, digitally-native Nigerians by being the antithesis of everything they disliked about conventional banks.
7. 54gene (2019)
Why are some medicines more effective for certain populations? 54gene is on a mission to find out. Founded in 2019 by Dr. Abasi Ene-Obong, this health tech company is focused on including African genetic data in global drug discovery and development. They are building one of the world’s largest African biobanks to ensure the continent is not left behind in the precision medicine revolution.
Their work has profound, global implications for medicine and healthcare, making them one of the most purpose-driven startups on the continent.
8. TradeDepot (2016)
Millions of small, informal stores (the “mom-and-pop” shops) form the backbone of Nigerian retail. TradeDepot, founded in 2016 by Onyekachi Izukanne, Michael Ukpong and Ruke Awaritefe, connects these retailers directly to major consumer goods brands. Their B2B platform simplifies ordering, delivery and even offers financing, empowering the smallest of businesses.
They are digitizing the massive, informal sector, bringing efficiency and scale to a market that was previously fragmented and difficult to navigate.
9. Sendy (2015)
If e-commerce is the future, then logistics is its heartbeat. Sendy, founded in 2015 by Meshack Alloys, Evanson Biwott, Don Okoth and Malaika Judd, created a platform that makes it incredibly easy for businesses and individuals to get anything delivered. By connecting users to a network of vetted drivers and providing real-time tracking, they are making logistics reliable.
They are solving one of the biggest infrastructure headaches for businesses, enabling the entire e-commerce ecosystem to thrive.
10. Opay (2018)
Founded in 2018 and backed by the Norwegian-owned Opera group, Opay launched a financial revolution on the streets. Starting with mobile payments via a vast network of bright-green agent kiosks, it rapidly exploded into a “super-app.” Now, millions use it not just to send money but also to pay bills, book rides, order food, and get loans and all from a single platform. Opay mastered the agent-network model, achieving staggering penetration and becoming a daily essential for Nigerians by seamlessly blending the digital and physical economies.
Final Thoughts
What unites these companies is a shared DNA of problem-solving. They looked at the world around them, identified friction points, and built elegant, scalable solutions. They are proof that the next great tech innovation won’t just come from established hubs, but from the vibrant, resilient and ingenious spirit of Nigerian entrepreneurship.
The wave is here and it’s only getting bigger.
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