Startups in Nigeria Doing Amazingly well in 2020

The year 2020 has been unfolding different events, happenings. For instance, at the time of this writing, the COVID-19 pandemic has claimed about 393,000 deaths; the issue of racism that has been on the rise is another issue.

While big tech companies might have the resource and time to put measures in place to minimize the impacts of different unfolding events, this might not always be the case for some startups in Nigeria as some have failed due to some reasons.

In this article, we will talk about some of the startups in Nigeria that are pushing and have made it this far.

Amazing Startups in Nigeria

Bamboo

Investment Bamboo

Bamboo curates top stocks, exchange-traded funds (ETFs) and American depositary receipts (ADRs) in the United States. According to the company, they give “unrestricted access to over 3000 stocks listed on the Nigerian stock exchange and US stock exchanges, right from your mobile phone or computer”.

Some part of Bamboo’s finance technology is supported by Flutterwave and counts the payment company’s co-founder, Iyin Aboyeji, as an equity investor.

Funding: $150,000

Founded: November 2019

Founders: Yanmo Omorogbe and Richmond Bassey

Product/Services: Investment platform

IPO Status: Private

Kobo360

Kobo360 is a tech-enabled digital logistics platform that aggregates end-to-end haulage operations to help cargo owners, truck owners, and drivers, and cargo recipients to achieve an efficient supply chain framework.

With an all-in-one robust logistics ecosystem, Kobo leverages on big data and technology to reduce logistics frictions, empowering rural farmers to earn more by reducing farm wastages and helping manufacturers of all sizes to find new markets.

Read also Best Online Savings Platform

Kobo enables unprecedented efficiency and cost reduction in the supply chain, providing 360-visibility while delivering products of all sizes safely, on time and in full. Kobo’s mission is to build the Global Logistics Operating System that will power trade and commerce across Africa and Emerging Markets.

The company is also preparing to enter the agro-trading space by creating a marketplace that links farmers with buyers all over the world. The marketplace will effectively eliminate the high cost of middlemen for smallholder farmers and significantly improve profits.

Funding: $37,300,000

Founded: December 2017

Founders: Obi Ozor and Ife Oyedele

Product/Services: Big Data, E-Commerce, Logistics, Retail, Supply Chain Management

IPO Status: Private

Eden

startups in Nigeria
Eden Life

Eden is a concierge service for homes. It is not a typical tech startup, but it’s “a tech-enabled, human-powered service that takes over the running of your home so you can focus on the things that truly matter in life.”

Eden’s prices are highly customizable and you only pay for what your home needs specifically. The prices can start as low as N15,000 a month and go as high as you want, depending on how often you want the service, read more about the pricing here.

Founded: April 2019

Founders: Nadayar Enegesi, Prosper Otemuyiwa, Silm Momoh

Product/Services: Personalization

IPO Status: Private

Techpoint Africa

Techpoint  africa

Undoubtedly, Techpoint Africa is one of the leading media platform dedicated to startups, entrepreneurship, innovation, and technology in Africa.

It has grown to become one of the most notable brands across Africa’s tech, startup and business ecosystem, having reached over 11 million investors, startups, developers, professionals and African tech enthusiasts.

They host one of the largest tech and startup event in West and East Africa – Techpoint Build

Founded: December 2014

Founder: Adewale Yusuf

Product/Services: Digital Media, Information Technology, News

IPO Status: Private

Chaka

startups in Nigeria

Chaka is an Investment Passport for Africans and African businesses to trade global capital markets.

Though relatively new, Chaka positions itself as a passport to local and global investing, two-way opportunity for both local and foreign investors to invest in any stock market.

Similar to Bamboo, signing up on Chaka is a rather straightforward process of verifying your phone number, and entering your bank details, especially your Bank Verification Number (BVN).

But Chaka has a “most popular stocks” tab that may not contain the same list of stocks as other platforms. It has a “watchlist” that lists some of the more popular stocks in US and Nigerian exchange markets.

Funding: Seed

Founded: March 2019

Founder: Tosin Osibodu

Product/Services: Financial Exchanges & Services, FinTech, Information Technology, Stock Exchanges, Trading Platform

IPO Status: Private

Conclusion

These are just some of the few companies highlighted, there are many more striving.

They have proved that success is a journey, not a destination. And they’ve reached this far despite the challenges involved; one thing they would need to keep them going is consistency.

Joshua Osagie

Software Developer | Lover of Tech

This Post Has 2 Comments

  1. Samuel

    Wow Nigeria is growing

    1. Chinweike Jude

      Much better

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