2021 was a crucial year for both venture capitalists as well as African online startups. Reopening business and returning back to normal life, people continued to practice routines that they developed during lockdowns. Due to this shift in preferences for customers, Africa had one of the world’s most innovative technological industries.
As African technology continues to expand so it’s not a surprise. The market is poised for a technology boom as the number of young Africans in Africa’s population is steadily increasing.
The list of technology startups in Nigeria fast-growing firms to look out for in 2022 was generated from the last round of investment rounds.
Kennedy Ekezie, Duke Ekezie, and Jephthah Uche returned to the drawing board after their first venture failed to identify a viable business opportunity in Nigeria. Afterward, the trio took on a marketing tour to find out more about the difficulties faced by Nigeria’s microbusiness owners. They identified a significant problem that they could solve after their investigation: bookkeeping. The issue was fixed in February 2021 with the introduction of Kippa, a straightforward accounting software designed for small business owners. After only a few months of expansion, Kippa attracted thousands of users and raised $3.2 million worth of seed capital in 2021. The issue of how much it will grow by 2022 is logical.
Releaf An agritech-related company founded at the end of 2017 Ikenna Nzewi and Uzoma Ayogu, seeks to increase the efficiency of processing oil palm in Africa and increase production. The Kraken machine, designed by a mission-driven agritech business that was created to speed up palm nut processing and to reduce the amount of waste. Releaf also supports environmentally-friendly farming practices.
The ride-hailing service with two wheels of the Ugandan company was established in the year 2018, and it was followed by an app with a sleek design in the year 2019. Uganda and Nigeria now serve more than 1 million users in transportation, parcel delivery, grocery and food delivery payment, savings in addition to other financial service. About 25,000 drivers work for the company, and they’ve delivered over 40 million parcels in America and the UK. US in addition to the UK.
With a mix of digital banking and physical service centers this tech startups in Nigeria is speeding up the financial inclusion. Pick n Pay and Boxer locations in Nigeria offer kiosks to customers who can sign up for the service (more than 80%).
Utilizing technology to build supply chains for food and the distribution of retail across Africa, Twiga Foods has been doing so since 2014. The technology startup in Nigeria makes use of an online, cashless, B2B-based platform that connects farmers and vendors. However, it’s been difficult to maintain the integrity of the products purchased from the smallholder farmers of Twiga.
When it raised $200 million through Series A funding last year, this mobile money service that is based between the United States and Senegal made headlines. The company became the very first unicorn to emerge from Francophone Africa, with a value of $1.7 billion following the fundraising round.
In 2014, the co-founders formed the company in response to their discontent of the problems and the high cost of sending money to Africa through North America. The technology-focused startup in Nigeria was established in the year 2018 by the co-founders following the sale of Sendwave to WorldRemit in the year 2017. The two-year-old business claims to be Senegal’s largest mobile money player , and it has nearly half the country’s adult customers.
In the wake of previous tech-related startups in Nigeria failing, Igwe Uguru founded Chooya which is an e-commerce search engine which has since become Africa’s own version of TikTok for eCommerce. Allowing customers to recommend and even get a reward for doing so is one of the distinct features of Chooya’s platform.
When Chooya was awarded the Entrepreneurship World Cup, with the cash prize of $950,000, the market erupted. Since the time, there has been an impressive increase in the number of companies signing up to the platform. The company was established at Aba, Nigeria, the Aba-based firm plans to expand to other African cities by 2022. beginning with Nigeria.
Former Google Nigeria CEO Honey Ogundeyi started Edukoya in May 2021 after being fired. Edukoya has many useful functions geared specifically toward Nigerian secondary school students. A data-driven , question bank that includes step-by-step solutions, a customized performance tracking system, and 24/7 test preparation as well as homework tutoring are some of the options available. After a short period of beta testing, 96 percent of students who took advantage of Edukoya were able to perform better on their test.
Creators throughout all over the Middle East and North Africa are able to utilize Mainly, an Egyptian-based platform, to build personal, authentic relationships with their followers. Mainly raised a seed round of $3.6 million last year.
From musicians and artists to social media celebrities and professional athletes like Egyptian soccer player Mahmoud Trezeguet (who plays for Premier League club Aston Villa) Mainly has a devoted following of more than 50,000 people since its inception at the end of 2020.
The goal was to “create PayPal for Africa,” Payday received a $1.5 million pre-seed in October 2021. Payday was the only Rwandan firm accepted in the Techstars Toronto Accelerator Program in the same month.
Favour Ori the Rwandan fintech, began its service back in 2021 and it’s helping Africans transfer money and also receive it across the globe. Payday had over five thousand users within the first three weeks of operation, the majority of whom were referred by friends and family–and handled $1.4 million in transactions.
Many people in Africa are enthusiastic about learning digital skills, yet there’s not a lot of places to learn about these concepts. That’s why , in the month of October 2021 TalentQL established AltSchool. AltSchool is an tech startups in Nigeria which will begin providing classes in April 2022. It’s geared towards those who wish to master the fundamentals of software engineering, in preparation for a career within the industry.
After its initial seeding round that took place in February of 2021, Stitch has secured the $2 million seed extension to speed development, launch its solution and enlarge it’s Nigerian workforce.
With Stitch’s data solution, app developers can connect their apps with their clients’ bank accounts and share their transaction history and balances, validate their identities, and pay directly through their apps. Millions of dollars in fees have been processed by Stitch since its beginning and includes Chipper Cash, Paystack, Franc, Sanlam, Yoco and Flexclub as among its regular customers.